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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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Sanchez57
Posts: 973
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (3)
RE: So
14 Jan '15
Think this is a very serious RNS and proves we now need to read them from the bottom again.

Very concerning that our new Oz HQ is a firm of lawyers specialising in dispute management. Lind do not like suspension [ we loved it till now] and are putting the gun against our heads.

They want the whole 7 m tomorrow, not a letter proposing payment by , say, end of month or soonest. Hate to say it but why else are Bennetts our new address???

http://www.bennettandco.com.au/

B E N N E T T + C o is a specialist corporate and commercial law firm with extensive experience and expertise in all areas of complex and difficult major litigation, mergers and acquisitions, public company disputes, corporate regulation and governance.
 
JDwag
Posts: 3,173
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (3)
So
14 Jan '15
a final notice has been issued and when payment doesn’t occur on 15 Jan then the administrators can be called in if Lind choose?

JD
Manosdepiedra
Posts: 176
Off Topic
Opinion:No Opinion
Price:0.54
Re shall I
14 Jan '15
carve I honestly hope you are wrong
Maybe best say nowt just incase
dave1000
Posts: 128
Off Topic
Opinion:No Opinion
Price:0.54
Shall I
14 Jan '15
What did u see as happening?
carvegyber
Posts: 5,359
Off Topic
Opinion:No Opinion
Price:0.54
Shall I
14 Jan '15
Give you a take on what the RNS is saying or shall I just keep it to myself considering the RNS twisting merchants will be out in force tonight.

I can tell from experience not many is fond of sticking to what the RNS says but prefer to read into them things that aren't there.

I said a month for things to play out and it looks like playing out very shortly. My guess was right despite the many people queueing up to attack me last time.
dave1000
Posts: 128
Off Topic
Opinion:No Opinion
Price:0.54
gutted- curtains drawing shut
14 Jan '15
Guys ive got to say im not scare mongering as im in this mess too, but I feel this is the end of the road for range. Look at the address we have moved to its a legal company. ( in the final throws of closing down)
torchy663
Posts: 6,176
Off Topic
Opinion:No Opinion
Price:0.54
sp
14 Jan '15
just have a bad feeling about this............
Celticheart
Posts: 6,728
Observation
Opinion:No Opinion
Price:0.54
payment for sale of rigs on track
14 Jan '15
I also believe we will give Lind a part payment on receipt of the rig money at the end of this month from LO.

Separately, Range has yet to receive any sales proceeds and has been informed by LandOcean Petroleum Corp. Ltd ("LandOcean Petroleum") that the sale of Range Resources Drilling Services Limited remains on track to complete on or before 30 January 2015, as previously announced.
Celticheart
Posts: 6,728
Observation
Opinion:No Opinion
Price:0.54
RNS
14 Jan '15
Lind were always going to ask for their money back but I believe they will accept our new proposal which will get them the money by April through the Core funding. If they take it through the courts it could be years before they see any money, which option would you choose? I am more concerned that Citation have not paid up for Texas yet.
matlot
Posts: 17,715
Off Topic
Opinion:No Opinion
Price:0.54
View Thread (2)
rns
14 Jan '15
Range Resources Ltd
Company Update
RNS Number : 1872C
Range Resources Limited
14 January 2015



Company Update

Lind Financing Update

Further to the Company's announcement on 7 January 2015, regarding US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), Range has now received a letter from Lind seeking repayment of the full outstanding amount under the facility no later than 15 January 2015. The initial facility has a face value of US$7.25 million.

Range has communicated to Lind that it wishes to repay the facility in cash and intends on using the Core Capital financing to meet such final repayment.

Management intends to submit a settlement proposal to Lind by 15 January 2015 for their consideration. The Company's shares will remain in trading suspension until such time as an agreement is reached with Lind, or the Company has sufficient alternative financing to repay the Lind facility in full.

Update on Asset Sales

Further to the Company's previous announcement, Range has yet to receive any sales proceeds in respect of the Texas asset disposal. Range is in dialogue with Citation Resources Limited (ASX: CTR) to agree a revised timetable for completion.

Separately, Range has yet to receive any sales proceeds and has been informed by LandOcean Petroleum Corp. Ltd ("LandOcean Petroleum") that the sale of Range Resources Drilling Services Limited remains on track to complete on or before 30 January 2015, as previously announced.

Range will update the market accordingly on completion of these asset sales.

Change of Registered Address

The Company would also like to announce the change of registered office to Bennett & Co, Ground Floor, BGC Centre, 28 The Esplanade, Perth Western Australia 6000.

Contacts

Cantor Fitzgerald Europe
(Nominated Advisor and Broker)

David Porter / Sarah Wharry
(Corporate finance)

Richard Redmayne (Corporate broking)

t. +44 (0)20 7894 7000

Range Resources Limited

Australian Office





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