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Range Resources Ltd Share Chat (RRL)



Share Price: 0.275Bid: 0.25Ask: 0.30Change: 0.00 (0.00%)No Movement on Range Resources
Spread: 0.05Spread as %: 20.00%Open: 0.25High: 0.275Low: 0.25Yesterday’s Close: 0.275


Share Discussion for Range Resources Ltd


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Celticheart
Posts: 13,087
Observation
Opinion:Hold
Price:0.275
RE: Bid Offer
Today 09:03
Very few trades so far this morning and none significant either way (BUY or SELL) so I guess the MMs are fishing to see what market they can create. Looks like the huge volumes of last week have subsided with a lot of people playing the waiting game.
 
D220
Posts: 739
Off Topic
Opinion:No Opinion
Price:0.275
Bid Offer
Today 08:44
seems to be fluctuating between .15-.30 and .25-.40.....
Investor_Tester
Posts: 199
Off Topic
Opinion:No Opinion
Price:0.275
View Thread (2)
RE: Aim admission doc
Sun 17:35
It's not all doom and gloom mind you. To balance the risk of the Perlak stuff...the terms of the deal protect Range a lot. 3.2mil USD down but protected by a forced buyback if we don't hit the milestones before end 3 year period =
Put option
As part of the SPA, the vendor has agreed to provide Range with a put option, whereby Range has
the option to enforce a buyback of its full 60% interest in Hengtai should the agreed milestones not
be achieved, therefore providing protection to Range’s investment. These milestones, amongst
others, include achieving minimum production of 800 bopd from Perlak field over a continuous 90-
day period, as well as proving up independently audited 1P reserves of at least 10 mmbbl within a
three-year period.

I strongly believe this indo asset could be good for us if we are able to get the wells pumping quickly and over that 800bopd milestone to earn our 42 percent of the block.

The biggest concern for me of all of this is the debt to LO....Anterra got crippled by this...and was a lot smaller ratio to earnings than ours. I can only hope that we turn RRDSL into a the cash generating firm the BOD so confident about. I'm very skeptical as beeb here since 2009 and that par to Range was the drag on our cash reserves heavily...especially maintenance of said rigs. Also interesting to see most of our rigs are out of action or down for repairs ( in RRDSL acq report).

I want to be positive.. but think we need to highlights all the facts for debate here so everyone knows what's what.

Like CH,I'm hoping for a good result on GY684...anything above 100bopd is good in my books
bountyman
Posts: 1,753
Off Topic
Opinion:No Opinion
Price:0.275
RE: Aim admission doc
Sat 16:20
IT,
Very much the same sort of things I found. I started writing a number of questions for the QnA in Jan but wondered if any of them were covered in the admission doc and to may amazement the majority of them were.

Your points actually cover a lot of the questions I had drafted before reading the doc a couple of nights ago.

There are a huge number of legacy things that are of huge concerns. Honestly though and a few successful drills and Range could possibly have a positive perspective BUT it is a big ask.

I need to have a proper full read of it but not a huge deal appears to have been done in the 9 months since suspension on a lot of the legacy issues. Just hope one of them does not come back to bite us.

We need to get oil out and lots of it... use RRDSL and get drilling lots of deep holes in our licences.

KRO

Bounty
Celticheart
Posts: 13,087
Observation
Opinion:No Opinion
Price:0.275
RE: Aim admission doc
Sat 10:22
Thanks for the summary, will try and find some time to plough through it myself too. Obviously there is still a lot of work to be done before we can feel comfortable about where we are but at least we are back in the game, decent flow test results for GY684 would be a start. I would also like to see us pick up some beefy contracts for RRDSL in the new year too, all revenue generating.
Investor_Tester
Posts: 199
Off Topic
Opinion:No Opinion
Price:0.275
Aim admission doc
Sat 09:36
Well I decided to open the 500page pdf and have a read....some quiet worrying items in there I hope we address

1. 80mil owed to LO. We knew about this anyways...20mil conv shares now and rest postponed for til April 2020 for payments. Should give us enough time to raise production.. but it's a he'll of a lot of money.
2. Trinidad tax...didn't know any of this was going on...looks like we missed some tax payment's for a few years.. .another speck on the range body which could've contributed to us not getting Trinidad west coast assets.
3. Court case with Trinidad lawyer....a fair amount of money here but looks extortionate...so hope this gets squashed in fev 2018 when the next hearing takes place.
4. LAR - looks like we have no legs on this one....earlier we get rid the better.
5. Colombia- still hasn't gone away. Hoping we can rescue this...as Colombia is a great place to get some 1k plus bopd wells going.
6. Georgia. Strait haven't filed accounts since 2013....another one that gone to the wall. Georgia also advance the tender for block via and looks like going to Chinese. ..can our lot maybe farmin?
7. Perlak - whoa. ..did not expect this....looks like our due diligence overlooked a lot of missing company docs. ...this takes the shined massively off this acquisition. . I hope that
They sort that out soon

I didn't read all 500page's. Just the firs hundered was enough

Here hoping that we get these cleared up in due course and have some good flows from gy684
Celticheart
Posts: 13,087
Observation
Opinion:No Opinion
Price:0.275
RE: Good morning
Sat 07:48
RRDSL provide a wide range of services as well as drilling http://www.rangedrilling.com/services/

RRDSL’s services to Trinity include both workover and swabbing operations over the WD and Fyzabad acreages.

RRDSL drilled two infill wells for Columbus. Both wells were completed on time and within budget.

http://www.rangedrilling.com/clientsprojects/
bobo
Posts: 8,259
Off Topic
Opinion:No Opinion
Price:0.275
RE: Good morning
Sat 07:37
"I don't agree about our relationship with TRIN or CERP as RRDSL have a very good track record so far with both."

Sorry if I missed something I don't pay much attention these days, but what relationship do RRDSL have with CERP?

I don't recall any dealings, I thought CERP have halted all drilling and all of RRDSL revenues were collected from RRL?
isas
Posts: 851
Off Topic
Opinion:No Opinion
Price:0.275
RE: Looking better
Fri 20:24
Thanks for the heads up on the Q&A Bounty will have a look- massively under water but will stick around to see how it unfolds in 2018, never know Indonesian assets could prove lucky.
bountyman
Posts: 1,753
Off Topic
Opinion:No Opinion
Price:0.275
RE: Reasonable discussion.....
Fri 19:29
Indeed Yuff, that is after admin cleared out a lot of the bickering. There is plenty to discuss on Range at the moment.

KRo




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