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Range Resources Ltd Share Chat (RRL)



Share Price: 2.095Bid: 2.06Ask: 2.13Change: 0.04 (+1.95%)Riser - Range Res.
Spread: 0.07Spread as %: 3.40%Open: 2.00High: 2.12Low: 1.95Yesterday’s Close: 2.055



Share Discussion for Range Res. (RRL)


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bobo
Posts: 7,715
Off Topic
Opinion:No Opinion
Price:2.25
View Thread (7)
RE: Shiney68
9 Jul '14
it all takes time Rich

weve been sort of told no activity this year, so takes us into 2015. Mobilisation of seismic equipment, carrying out seismics and interpretation will take us into 2017, finding a rig to contract and mobilisation would take us to 2018.

Im not being pessimistic here, seismic and interpretation takes a long time, at least 12 months, there are many examples of it taking longer, including Georgia and Punty for RRL.
Finding a rig again and mobilisation would take months, site prep last time took months.

Being generous, with no problems or security/political issues, I believe this takes us into 2018. Throw in the inevitable delays and that why I think its unlikely this decade.
 
RichTheNewbie
Posts: 9,670
Off Topic
Opinion:No Opinion
Price:2.25
View Thread (7)
RE: Shiney68
9 Jul '14
(obviously that) = (obviously) that
once = one

Clearly can't type and eat at the same time ;)
RichTheNewbie
Posts: 9,670
Observation
Opinion:No Opinion
Price:2.25
View Thread (7)
RE: Shiney68
9 Jul '14
Bobo:
Agree (obviously that) Trinidad must be the focus and it (obviously) will be.
Not sure if they'd be lucky to drill another well there this decade. I think if the partners had plenty of funds to spare they could probably drill another Dharoor once almost immediately (though they'd probably do some more seismic first obviously).
But yeah - it's one to keep because of the potential - no immediate impending cost and see how things progress in the region.
Ritchtea
Posts: 1,244
Off Topic
Opinion:No Opinion
Price:2.25
View Thread (7)
RE: Shiney68
9 Jul '14
Shell is being touted regarding the offshore acreage, different project.
bobo
Posts: 7,715
Off Topic
Opinion:No Opinion
Price:2.25
View Thread (7)
RE: Shiney68
9 Jul '14
theres plenty of negatives about puntland

RSRs not letting go because maybe one day there may be an opportunity to revisit, and there are no financial obligations in the near future.

Its just my opinion, and im sure many will disagree, but RRL will be lucky to drill another well in Puntland this decade. Even if a farm in partner is found to fund drilling (and I know shell is being dribbled) they will not commit to a well without 3D seismic which would put any rig mobilisation back 2-3 years from now.

The entire focus of RRL MUST be Trinidad for the next 2-3 years minimum.
Celticheart
Posts: 5,145
Observation
Opinion:Strong Buy
Price:2.25
View Thread (7)
Shiney68
9 Jul '14
Mogadishu is not in Puntland and has always been a much less secure place. Good attempt at trying to find a negative element to Puntland though :)
Shiney68
Posts: 59
Off Topic
Opinion:No Opinion
Price:2.20
Trinidad first
9 Jul '14
SOMALIA’S government says the presidential palace in Mogadishu has been secured by troops after an attack by Islamist militants.
It looks as Somalia Puntland just not secure
Celticheart
Posts: 5,145
Observation
Opinion:Strong Buy
Price:2.20
New support level
9 Jul '14
Looks like we are establishing new support at the 2.15 level
The.D.G
Posts: 321
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:2.20
View Thread (2)
RE: Few Sells
9 Jul '14
Probably more to do with the 1m blocker posted from the off at 2.3p, purposely placed to flush out a few wavering holders.

Consolidating above 2.2p is key - looks like a repeat of yesterday when the ask was loaded early on and got taken out later in the day for a nice blue finish. Buyers trying to pick up a few on the cheap, once they realise there are no more mugs below 2.2p the bid will have to strengthen.
lewisycymoedd
Posts: 1,246
Off Topic
Opinion:No Opinion
Price:2.24
View Thread (2)
Few Sells
9 Jul '14
Sellers early doors who must be happy with a price below 2.3p. Think they will be very surprised today after we have cleared these sub 2.3p sells. Hope so.



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