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HUM CEO updates on the Yanfolila Gold Project now fully funded.


Range Resources Ltd Share Chat (RRL)



Share Price: 0.33Bid: 0.30Ask: 0.36Change: 0.005 (+1.54%)Riser - Range Res.
Spread: 0.06Spread as %: 20.00%Open: 0.359High: 0.359Low: 0.33Yesterday’s Close: 0.325


Share Discussion for Range Resources Ltd


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Celticheart
Posts: 9,956
Observation
Opinion:No Opinion
Price:0.46
Malcy's Blog / POO
11 May '16
Oil price
Crude oil rallied yesterday as Canadian outages, higher than first expected at around 1.5m b/d kept supplies short and despite a strong dollar pushed prices up. This is unlikely to last for long as a number of operations are already preparing to restart having closed only for the effects of smoke.
Also pushing prices down is the war of words between the KSA and Iran, the Aramco CEO has said that they will continue to increase production (11m b/d appears to be the target) whilst the NIOC has announced a $1.60 discount on June prices to encourage customers. There is a lot of smoke and mirrors here, Iran may be getting up to its short term capacity and of course during the summer months the Saudis may well increase production but not exports due to domestic demand. After the close, the API stats showed a build of 3.45m barrels and 1.5m at Cushing which wasn't expected and crude has fallen around 60 cents this morning.
The STEO from the EIA is out this morning and only the headlines are available as I write, however it does look to be a bit more bullish with particular reference to all these short term outages which they calculate as being as much as 2.9m b/d in April. They see global demand numbers growing, albeit slowly and the draw on Opec starts to become more meaningful by the third quarter…
 
Celticheart
Posts: 9,956
Observation
Opinion:No Opinion
Price:0.46
RE: CH
11 May '16
Thanks rob, it is not so much patience as an acceptance that, given the current low POO (which will recover) and our waterflood program in place (due to come into effect in H2) things will take some time to get back to where we need to be. I look at the overall picture and remember that less than a year ago it looked like we might not have a company.
The current management have, with some prudent decisions, shown us that Range has a successful future ahead and is probably in better shape than many small oilers right now.
rob295
Posts: 1,995
Off Topic
Opinion:No Opinion
Price:0.46
CH
11 May '16
I find Celtic's patience remarkable. I'm finding this silence terrible when there is so much to be found out.
Celticheart
Posts: 9,956
Observation
Opinion:No Opinion
Price:0.46
RE: Pleased and confused
10 May '16
I know Saudi are looking to emulate the UAE by being less dependent on oil revenue but they do not have the tourism nor the freight trade that the UAE have. There is a reason the US lifted sanctions on Iran and it does not bode well for Saudi.
Sanchez57
Posts: 1,884
Off Topic
Opinion:No Opinion
Price:0.46
View Thread (2)
RE: Pleased and confused
10 May '16
Cheers celtic for manfully keeping the bb forums alive - been many tumble weed days as we await news to digest.

Your call on Saudi minister change is wrong though. The new man is totally behind low price policy that is seen as pushing their economy away from oil dependency. No time to go into more detail here.!

Another element is to do with US- Saudi defence pact that has been endangered by rise of US self sufficiency via the shale revolution. Roll on ops news to boost sentiment and TT onshore production.
Celticheart
Posts: 9,956
Observation
Opinion:Strong Buy
Price:0.46
RE: Pleased and confused
10 May '16
Firstly there was no "massive sell off" only around 5 million shares were traded and many of those trades were wrongly shown as sells instead of buys. The Saudi oil minister has been removed because his strategy was not working and has damaged Saudi Arabia in the process. Let's see what happens under the new minister who will in effect control OPEC.
Daverec
Posts: 22
Off Topic
Opinion:No Opinion
Price:0.46
Pleased and confused
10 May '16
Today our favourite underperforming share has a massive sell off and the price goes up. No material new news unless we didn't like the Saudi oil Minister. Ho hum, more of the same please as I have a long way to go to break even!
volley
Posts: 2,414
Observation
Opinion:No Opinion
Price:0.445
Buy as sell
10 May '16
I see my 08.30am buy of 305851 at 0.47 is showing as a sell.
Sanchez57
Posts: 1,884
Off Topic
Opinion:No Opinion
Price:0.445
RE: when are flow results due
10 May '16
They have only really had time to test the lower zone and there is much in middle and upper zones that were also to be tested.

many say or think that mgt would rush out initial findings if good [or bad] but that bit by bit news flow is more for LGO or our old mgt with their Ipad gushing . IMHO
bistable2
Posts: 887
Question
Opinion:No Opinion
Price:0.445
when are flow results due
10 May '16
please forgive my ignorance but I was expecting flow tests from the recent oil finds from the recent drill-am I correct and when will this be likely-anyone know




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