Range Resources Ltd Share Chat (RRL)

Spot on mate.....Good post.....RRL is and has been far from perfect.....just didn't think the idea of 95% of us holding the same view point was right or fair....that's all.DBW (Or Dan)

Nice one ;-))

DBW - Nice one, thanks for that. Seems PL has definitely seen the need for a charm offensive this weekend. Let's hope this is the turning point. I'm encouraged, but ready to pull the trigger if it turns out to be that it looks like it's just bs or other peculiar smells come out of the quarterlies this week, for example.
Ducksoup - think it's the author, not BMD. ;) As far as Texas is concerned there was a note on one of the Facebook groups a couple of days ago that Texas is done (more done than the last RNS suggested anyway), so have to wait and see on that. Again, timing would be interestingly nice to follow the shares trading from 'on or around' tomorrow and certain parties perhaps wanting a pump.

I've been in the AIM market for about 3 years and held RRL shares from the word go. Started at 3p and bought all the way up to 19p and down again to average 7p so I have experienced every thing that most posters on this BB have. I am not a 100% fan of PL and after an email to him some months ago I'm definately not on his Xmas(perhaps Easter) card list but how bad is RRL?
In the 3 years I dipped in and out of other minor oil exploration companies and as a pensioner I was looking for something that would give me something other than the measely 1% or there abouts that the banks were offering so I decided to "gamble" on the stock exchange. I appreciated that it was a gamble and invested accordingly. I either invested or looked at a fair number of oil companies, especially in the initial year and the exploration companies offered the best "gamble" It was a gamble. The only difference was i Bought from TD and not Ladbroke. Far too many on these boards have not accepted that it is a gamble although not dependant of dice, cards, spin of the wheel or whatever
I looked among the following and bought in and sold out(mainly to buy more RRL) some of the following
OILEX,VOG,AEX,HAWK,ROXI,KEA,DES,FOG,BOR,RKH,NTOG,SOLO,MTA,FTO,TRP,GOO,MXP,CAZA,BPC AND CHAR.
I know that some of you have been in these shares and some are still in them and many of them have "potential" but few of them have the resources/production that RRL have. Most since the heady days have done as badly or worse than RRL but Pete Landau has nothing to do with these other companies but he is not the ogre responsible for the state of the market.
If you are unhappy with your gamble then take your money and put it into some other form of gambling or be safe and go for your 1% interest from the bank but just remeber that buy buying a share, that has resources, on AIM then you have a chance of another go every time the markets open and you should never lose all of your stake unless a stock like RMP or NEW that has potential but no oil above ground.
Personally I hope my bet pays dividends well above the 1% but the 10 bagger days of £1 parties are history.
I hope some of last weeks poster either take onboard that the AIM market is a gamble or move their money to the FTSE100 or ladbrokes but give us real gamblers peace!!!!!

As in Lame?

Supposedly total for the 10 is 3000 to 4000 bopd. So that would imply an average of 300 to 400 bopd. Don't think I've seen any specifics of each though.

Dan ?As in bmd??
Again why are there no questions on the sale of Texas?
I just thought anyone asking Pete any questions that would be in there?
Or maybe its just me?

bak / balance.....hit the button too early...hope this doesn't put too many noses out of joint.....but to claim to speak for 95% of shareholdes (no matter how valid the points raised ) is not on....IMO

Hi Pete
Was very good of you to answer all of those questions the other day,as for the idea of 95% of shareholders being fed up with you.....that's just utter crap.
Here's a couple you may find much easier to answer..

1) How insulting ,considering all the time and effort you have puy in over the years,do you find the implication (however subtle) that you and other board members are simply in this to line your own pockets and don't give a **** about the shareholders?

People are bleeding out there - understand the angst so just try and let them understand why we are going down a path

2) If Georgia or Punty had hit first time,who would have benefitted the most?

Range shareholders - board's interest is fully aligned as we are all sig. Shareholders

3) How frustrated have you been by the delays in Trinidad and how much time and effort has been spent trying to put things right?

Can't put it in writing

4) When we agreed the proposed tie up with IOP, were there several other interested parties?

Yes

5) How much time and effort went into planning and carrying out that first Punty drill and forging those relationships that could prove invaluable moving forward?

5 years but pretty specific relationships

6) Having secured 100% off the offshore rights (Nugaal block) for Range,have you already had approaches with regards to potential farm in partners?

We have but early stage offshore isn't a priority at the minute for a lot of the bigger boys

7) Has Georgia,which most saw as a bust,now been turned into a potentially cash generative asset for many years to come?

Definite dark horse

8) Once the Herrera drilling campaign begins in earnest,how much could this potentially add to our current listed reserves and BOPD.

Herreras are 40m - 60m bbls recoverable as a prospective resource - bopd - each can be Herrera 500 - 1500 bopd

9) Now we have secured a decent mud map are we actively looking to increase our holdings in Trinidad and become one of the single biggest producers on the Island?

2 key targets - on shore bid round (38,000 acre block) in may and farm in to adjacent deeper rights

10) If you were in a position to buy more shares at this level ,would you?

Wait for the results of 135 and 248 and that will be a key driver

I think most long term investors may already know the answers to the above,but some may need reminding.
Sorry I didn't have time to ask about Texas, Colombia,Guatemala or any of the other assets recently bought into the fold via IOP....but I'm sure all will be revealed in the days / weeks and months to come.

All the very best

Dan

Does anyone who gets replies from PL have any idea when Texas sale to be announced? TT update this week as per his other answers but no mention of Texas. Would prefer that news to be first as its non confirmation will be used as a stick to beat RRL by many.

Also any ideas on the flow rates for the 10 Russia wells?