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RRL Share Chat - RSS Feed

Range Resources Ltd Share Chat (RRL)



Share Price: 0.535Bid: 0.56Ask: 0.64Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.08Spread as %: 14.29%Open: 0.535High: 0.00Low: 0.00Yesterday’s Close: 0.535


Share Discussion for Range Res. (RRL)


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Celticheart
Posts: 6,629
Observation
Opinion:No Opinion
Price:0.54
RE: Post of Day - Manos
16 Jan '15
Morning Lewis, isn't it strange that if we post research about Range, the general state of the oil market or discuss how we think this is going to pan out we are sadly mistaken and come under attack. If however a poster constantly attacks and abuses another poster but contributes nothing at all related to the company this board is meant to be about they get ticked up as being some kind of hero. It is a very strange world we live in sometimes. GL
 
Celticheart
Posts: 6,629
Observation
Opinion:No Opinion
Price:0.54
MartinOil
16 Jan '15
My point was really just illustrating how tough it is in this sector at the moment but I get your point too :)
MartinOil
Posts: 411
Off Topic
Opinion:No Opinion
Price:0.54
CH
16 Jan '15
By default through selling drilling company we are cutting our staff by about 95%.
Celticheart
Posts: 6,629
Research
Opinion:No Opinion
Price:0.54
Sclumberger cuts 9000 jobs
16 Jan '15
Just to put Range into perspective against the current crisis in the global oil industry (Reuters) - Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices.
Alocasia
Posts: 5,253
Off Topic
Opinion:No Opinion
Price:0.54
RNS?
16 Jan '15
I was expecting one in my mailbox this morning.
Manosdepiedra
Posts: 176
Off Topic
Opinion:No Opinion
Price:0.54
Re toonman
16 Jan '15
well I can think of one brave heart poster who will go down with his ship.
Infact he's watching the band play on now and telling anyone who'll listen it's not an ICE BERG.
Answers on a postcard .
Alocasia
Posts: 5,253
Off Topic
Opinion:No Opinion
Price:0.54
toonman
15 Jan '15
"I have far more shares than I would like and an average I am not too fond of!"

Yep, I think that goes for most of us here. However this turns out, I don't think there are too many people in here by choice anymore. I wonder how many people would rip your hand off if you offered them a 20% hit to get out today, rather than wait a year and see if we are still here and maybe get our money back.

Join an orderly queue behind me.
OMADAWN
Posts: 228
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (13)
RE: carve
15 Jan '15
Toonman,

I too have my concerns and hope that we get some clarity over the next few weeks and at least demonstrate some production increase by April

This whole issue of receivers , pre-packs etc has been blown out of proportion. If LIND are seen to bring a company like RRL to it’s knees in the space of 3 months after signing the terms and during a re-financing exercise, I don’t think it would help them grow their business in their target market or the reputation of their managers.

I see the biggest risk is Sinosure. They are the 3rd party in these negotiations whose sign off with LO is critical to RRL being able to finance their services. The RNA said LO SHALL put this facility in place. If they are prepared to insure the credit facility after due diligence this would be significant. The terms appear to be similar in many respects to an Resource Based Lending facility secured against future cashflows.

Personally, I will breath a sigh of relief once this is confirmed, as everything else slots into place.

The optimistic side of me says that we are lucky that this is taking place with oil at $50. The business is aware of this price and can plan and finance accordingly. If we come out of suspension at .8p, we have RRL performance and any oil price increases to help lift the SP

My 2nd concern is that there is no lock in clause with CORE. If they are long term investors I see know reason why this couldn’t be include to indicate their commitment.

The convertible bond with a 12% coupon is an incentive to not convert until the last possible opportunity.

Oma
Toonman
Posts: 154
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (13)
RE: carve
15 Jan '15
OMA,

Although I would really rather not even be contemplating such matters, I have witnessed a number of pre packs and, indeed, recently got screwed over by one fortunately not for a large sum. I have never seen one that returned anything to the shareholders. The end result in all of them has been that the debt gets wiped (by one means or another), the directors live on to manage the existing business in a newly foRmed company (and have a shareholding in it) - whilst the previous shareholders get wiped out. Now I freely admit I don't have a complete knowledge of every pre pack and maybe there have been pre packs where money has been returned to the shareholders. I'm open to anyone offering a different experience.

I remain hopeful here that we do not end up going down any of the receivership/administration/pre pack routes or end up being screwed over by a de-listing. But it is hope rather than expectation to be honest. I think that if we ever do come out of suspension it will at least be when we are a little wiser as to what is being played out here and can only hope that what we know then will make shareholders want to hang on to their shares. I have far more shares than I would like and aT an average I am not too fond of!
OMADAWN
Posts: 228
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (13)
RE: carve
15 Jan '15
The discussion about receivers, pre-packs etc etc is way of the mark. So my view as a shareholder.

RRL could simply of continued to issue shares to LIND until they received the monies from CORE. They have decided not too as this would dilute investors, with no added value. If there was any question of a takeover or taking things private they would have allowed this to happen and picked up the prime assets on the cheap

The number of shares in issue makes no difference to LandOcean, their services or profit unless the CORE raising is reduced as a result of the dilution resulting in less to spend

You , I , & Abraham’s would see the potential value of our shares reduced.

RRL are going through corporate process to maintain value and ensure that any dilution is only for re-investment. They would have a back-up plan and as a last resort could settle with shares.

Range drilling services sale to LandOcean is not asset stripping. It is giving LandOcean the ability to deliver on their commitments that enable Sinosure to provide insurance on the delayed payment terms stated in the RNA.

We have a catch 22 situation, whereby, RDS sale can’t be closed until LO have agreement with Sinosure, so no money for LIND until this is completed.

I find it unlikely that CORE will close until the know that LO have closed on Sinosure.

We have to wait until all this is closed.

There is the possibility that part of the normal 15% dilution allowance is used to raise some funds from CORE before the EGM once the above is closed, settling LIND and bringing us out of suspension before the EGM voting process.

In most company's their are risks along the way and contingency plans just in case.





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