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Range Resources Ltd Share Chat (RRL)



Share Price: 0.42Bid: 0.35Ask: 0.40Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.05Spread as %: 14.29%Open: 0.40High: 0.42Low: 0.40Yesterday’s Close: 0.42


Share Discussion for Range Resources Ltd


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Celticheart
Posts: 9,699
Observation
Opinion:Strong Buy
Price:0.42
Oillspill
Today 16:07
Will this latest TA be as accurate a prediction as your "Top Triangle" post from 9th June?

"looks like the bearish pattern is playing out as expected. I'm expecting new lows here..."
 
OilSpill
Posts: 476
Off Topic
Opinion:No Opinion
Price:0.42
..and so
Today 16:01
...its next year, 2017, then. Well that consistent at least....

T minus 81 days for bearish pattern to play out...
good luck
Cardiffboy
Posts: 186
Off Topic
Opinion:No Opinion
Price:0.42
RE: Quarterlies
Today 15:25
I'm not too concerned on the about the quarterlies and the drop in BOPD doesn't surprise me too much.

Work over is costly and the return clearly wasn't worth it on them lower producing wells. We have seen no new wells come into production and the depletion of current wells was to me expected. when you look at it in % yea it's big but look at it in actual barrels and it isn't that much.

Costs pulled right back which is a + given the amount of burn we going through.

MD 250 & 251 expected to come online in next quarter which will add to production.

Things I am not so happy with are 1. No update on current LO costs. 2. Mourne Diablo update a bit shady, doesn't really say if we will still see production in H2 16 only that it was expected and given that we have not upped the rate of water injection is this now under jeopardy? 3. Rigs still not signed off. I know this has a lot to do with MEEI but are LO really doing all they can do get this moving? I don't see much happening this year maybe 1p by Christmas if they can deliver on the 1000BOPD. 2017 will definitely be an interesting year.
bountyman
Posts: 1,470
Off Topic
Opinion:No Opinion
Price:0.42
Quarterlies
Today 13:22
Hi Guys,

Nothing new to see here today really. Nice to see the SP holding up pretty well today. Not a wonderful quarterlies but nothing too drastic either.

The low BOPD was to be expected, though this was lower than I had thought. It is likely that our production today is in the upper 300’s which is a little concerning (445 is the average of the 3 months, which started likely over 500…)

The rumour that there was to be no 3rd well from the platform appears to be confirmed of sorts within the quarterlies, which for me is disappointing given the lack of other drilling going on.

MEEI still appear to be the hold up on getting the rigs certified, though I am not entirely convinced that Range really want to be drilling at the moment and appear to be in a holding pattern until the oil starts to be produced from the waterflood projects.

The water contract for Morne Diablo appears to be signed this quarter which is a good thing as this will hopefully speed up the injection, pressure build up and therefore production of oil sooner rather than later. Though, this will likely need some infrastructure to be completed to get the water to the site. Given this I am not overly bothered as do not expect much on this front this years.

Finally, the biggest concern is the lack of confirmation of costs accrued via LO’s credit facility. It would be nice to know how much we are actually owing them given that we are currently treading water and not moving forward (re drilling) huge amounts.

Over all it sounds a bit of a down in the dumps set of quarterlies, however, I am happy with my investment and looking forward to the turn of the year when hopefully a lot of these “nearly” situations will be resolved and we are finally making some money to fund turning Trinidad into a massive block of swiss cheese.

KRO

Bounty.
Youngbuck87
Posts: 1,034
Observation
Opinion:No Opinion
Price:0.42
SP
Today 08:52
Looks strong with such spread in place!

46% spread!!
Rexco
Posts: 3,002
Observation
Opinion:Buy
Price:0.42
RE: Quarterly results out
Today 08:36
What we do know is that they are keeping costs to a minimum which is why the drilling campaign is delayed.

Also they say that payments due to LO will be covered by future cash flow from the increased bopd.

Good to see that they are only working over profitable wells. Somebody with some common sense in charge at last.
ErraticPhil
Posts: 1,774
Off Topic
Opinion:No Opinion
Price:0.42
RE: Quarterly results out
Today 08:07
The baby elephant in the garden is we don't know what liability has been built up for Land Ocean's services in the quarter, given the report is on a cash rather than an accrued basis. Such is the nature of ASX's reporting requirements. A note explaining same would be helpful to put investors jitters at ease (or not).
Youngbuck87
Posts: 1,034
Observation
Opinion:Strong Buy
Price:0.42
RE: Quarterly results out
Today 03:04
All looking rosey in the short/medium term future, once the results of the waterflood start taking place we can expect BOPD to double by year end increase to 2,500 by 2017 end. Lowered BOPD this quarter was expected. Sitting with a $20m cash balance aswel, which I like and only net $300k spend in 3 months shows they have tight controls in place now.

Patience is key here.
ErraticPhil
Posts: 1,774
Off Topic
Opinion:No Opinion
Price:0.42
Quarterly results out
Today 00:31
With thanks to Buckz on WS for highlighting the release (nice and early).

http://www.asx.com.au/asxpdf/20160727/pdf/438ts90c7h2vy4.pdf
Youngbuck87
Posts: 1,034
Research
Opinion:Strong Buy
Price:0.42
View Thread (2)
BB BUY
Tue 20:42
"We cannot deny bullish sentiment in the market anymore. It is wiser to hear the call of the market and change positions accordingly. The bullish stop loss is finally confirmed and a BUY signal is generated. It may be now the right time to be part of this boost and bullish market sentiment by joining the growing bullish crowd"

Buy buy buy




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