Range Resources (RRL.L) tipped by RHPS

royaler83

Grecco wrote: »

Ive a small holding here so I`m not too pleased at the way the SP has been heading. The latest RNS doesn't inspire confidence, I see a lot of posters on LSE and iii are saying that hitting Granite in Georgia drill isnt too good.

Don't believe anything that's posted on those sites from people claiming to know anything from within any company, 99.9% BS! I have seen it to many times, scaremongering and also blatant ramping, claiming to know that xyz has hit a duster/gusher.

Also volume was nothing crazy today, that's usually a sign of news

neil.p.b

Georgia isn't going well and unfortunately it's the SP mover at the minute. The shameless ramping on RUM doesn't help either. But it's still going and we don't know anything definite yet. At least they've finally explained the situation now and path forward. Just frustrating on timelines to date. Though having said that i would have sold my RMP today if i didn't think Puntland spud would come before final Georgia result.

T&T was mixed news. RNS said 2 wells drilled, 2 being drilled, 2 rigs operational. The last RNS said 3 wells had been drilled and 3 rigs operational, don't know how they managed to go backwards there. But the more important Herrara and CPR should be within the next 6 weeks.

Texas - 2 wells now being drilled back to back; success will move most P3 to P1 and P2 which lead to sale and our divi.

PUNTLAND!! Spud within next month.

Thargor

Nothing to worry about all is still on track.

God that RUM forum is unbearable these days though, cant believe grown adults are going on like that, the sucking up to the leaders reminds me of primary school.

poodles

Everything on track.
There's good reasons for any seemed delay imho

neil.p.b

Thargor wrote: »

Nothing to worry about all is still on track.

God that RUM forum is unbearable these days though, cant believe grown adults are going on like that, the sucking up to the leaders reminds me of primary school.

Nail on the head. Beginning to think it would be better without JR et al. or at least without all the clues and riddles, just raises expectations to unrealistic levels.

poodles wrote: »

Everything on track.
There's good reasons for any seemed delay imho

I can't help but be a little bit less optimistic. Having to check whether seismics were 2000m out is hardly on track, i don't believe in these organised delays to let ii's to get on board at this price either.

poodles

neil.p.b wrote: »

Nail on the head. Beginning to think it would be better without JR et al. or at least without all the clues and riddles, just raises expectations to unrealistic levels.



I can't help but be a little bit less optimistic. Having to check whether seismics were 2000m out is hardly on track, i don't believe in these organised delays to let ii's to get on board at this price either.

It wouldn't not be due to letting ii's on board.
We recently had Socius get on board at a premium.

neil.p.b

poodles wrote: »

It wouldn't not be due to letting ii's on board.
We recently had Socius get on board at a premium.

What are your thoughts on the delays so? I just can't see any positives to it, happy to be convinced otherwise.

cooperguy

Thargor wrote: »

Nothing to worry about all is still on track.

God that RUM forum is unbearable these days though, cant believe grown adults are going on like that, the sucking up to the leaders reminds me of primary school.

You can say that again! Its painful to read

Thargor

Total ego trip for that JR now, if I was a millionaire in Australia Id have better things to do than hang around a bulletin board all day, its a bit weird. Every time he posts 12 of his acolytes jump in to thank him and praise His Word. Notice how the bannings are slowly starting to creep into anyone criticizing the company or the high command now and not just the trolls. Its going a bit cult-ish, people have to praise JR and Megaoil and the RUM board itself at the start of every post before they make their point, thats if they have a point which 99% of the time they don't.

The worst is the cringe-inducing attempts at humour, back when the board was good anyone posting sh1t used to be told to shut up and take it to iii but now you log on in the morning and its 20 threads full of total spam, w4nkers trying to be funny and failing.

neil.p.b

Such a pity, used to be a great forum. There are still excellent posters and great research posted up but it's just buried in a load of rubbish and stupid riddles

Sparrow_Hawk

High volume of RMP trades today

Thargor

The SP is disturbing but if news had leaked then surely it would be crashing? Hard to know, if worst comes to worst there are other company making plays in the near future to hold for. Cant believe this price though.

Seifer

Down 11%... This is fun

Grecco

Things dont look good, a lot of selling today and also on Red emperor. Has info been leaked?

Thargor

Not looking good at all, but if it is a duster at least its just for that one drill, we have the other one to try again, even writing off Georgia I still wouldnt sell these, the dividend from selling Texas next year will get me back my original stake anyway.

neil.p.b

It's actually ridiculous, sick of getting margin called by IG! have had to cut back positions at losses. At 8.3 the share price is pretty much only includes Texas and T&T P1 and P2 and cash (That's being conservative valuing profit per barrel at 15$ when likely to be > $20). Texas P3, T&T P3 and CPR which will likely increase reserves ten fold, Georgia (duster or not), Puntland and Tangiers stake not priced in.


Thargor not sure if you saw my reply to you on RUM today but looking at the charts today could be the bottom.

Short term double bottom is harder to see because of the variations in intraday lows between providers, but many said 8.1 was the low for today, IG has 8.1 as the intraday day low on August 5th. Some providers have early 7s as intraday low for August 5th though.

We also closed above 8.3p. 8.3p was the gap up price on open November 18th i think, it was also the bouncing point after a small retrace from January 17th to February 2nd, that bounce saw us at 16p in 3 sessions. There's also bullish divergence on RSI and stochs.

Looking for blue day tomorrow to confirm. Red and we could see low 7s next week. All in now bar my RMP.

The Marlboro Man

neil.p.b wrote: »

It's actually ridiculous, sick of getting margin called by IG! have had to cut back positions at losses. At 8.3 the share price is pretty much only includes Texas and T&T P1 and P2 and cash (That's being conservative valuing profit per barrel at 15$ when likely to be > $20). Texas P3, T&T P3 and CPR which will likely increase reserves ten fold, Georgia (duster or not), Puntland and Tangiers stake not priced in.

Yes, but this includes about every AIM listed oiler at the minute. Look at the recent Encore takeover, and today Dominion Petroleum were taken out. They nearly all look dirt cheap today. Look at Serica Energy for instance - taken an absolute hammering over the last few months. They have reserves (just like Encore). GKP is actually holding it own, although you could have bought @ 89p only a few weeks ago if you were quick enough.

RRL is looking cheap, Georgia duster or not. But aren't they all?... There's still many fears out there.

Oil prices held up pretty well though, which gives me confidence long-term.

Thargor

Goldman Sachs and a few others are saying oil is going to start seriously rising regardless of Greece and everything else soon aswell.

Seifer

Up 19%... This is fun
Definition of a rollercoaster ride.

Thargor

Try 26% :eek:

Grecco

Any views on this latest RNS?
It looks like Georgia is a good as a confirmed Duster, SP hasnt fallen that much though, this just shows that the news was already out and that the people in the know were selling with the last few weeks.
Not too inspiring

neil.p.b

Grecco wrote: »

Any views on this latest RNS?
It looks like Georgia is a good as a confirmed Duster, SP hasnt fallen that much though, this just shows that the news was already out and that the people in the know were selling with the last few weeks.
Not too inspiring

I'd written off Georgia a few weeks ago. The only thing i don't understand is why, out of nowhere on Wednesday, they said they were flow testing. No need to, no one expected them to be. Then today it comes back is not flowing. Not sure why they put it in there in the first place. I'm glad they have pretty much got it out of the way now though, basically declared a duster.

Info on Smith 2 was very good though, this well is one of two which will put P3 into either P2 or P1 and is going better than expected. Good for our divi next year!

The actual RNS was my main problem, we were a due a comprehensive update and didn't get one. What about the rest of texas? Flow rates? Fraccing at ECV? Nothing on Puntland. Nothing on T&T that we didn't know before. I don't know why PL is holding back news. It's getting very frustrating.

Share price showed real strength on the back bad Georgia news though. Bounced off 8.3 again and closed only slightly down.

neil.p.b

Looks like we're finally going to get our T&T update in the next few days. I'd be inclined to think P1 will be upgraded to double figures (which alone will underpin share at current levels) add in the P2 & P3 and possibly the herreras, we are going to see a substantial rise. It's been a long wait. IMO year highs will be tested again in the next 7 weeks.

Thargor

Has someone said its happening or are you just assuming its coming?

neil.p.b

P1 - been informed. RNS - Mix of both - has to be taken with a pinch of salt though, many of the more knowledgeable were expecting it today and it never came. But with it approaching 2 weeks since we were told it would be forthcoming shortly from PL, there's only so much longer they can hold it back. If not tomorrow, i'd expect early next week.

With smith 2 looking like a success already, IF Albrecht follows suit, Range should be underpinned in the mid-late teens just on booked P1 and P2 reserves of these two producing assets. If K2 is successful or there's Puntland spudding news yearly highs will be broken IMO (barring an economic meltdown!).

The Marlboro Man

neil.p.b wrote: »

IMO year highs will be tested again in the next 7 weeks.

No they won't. So you're saying RRL wil be 25.25p in the next 7 weeks? You know that's crap. Hate these posts!

Have you seen the recent GKP news? What effect did it have on the SP? Little or nothing. GKP had a yearly high of 201.75p, and that was long before addding a few billion barrels of P90's..

neil.p.b

The Marlboro Man wrote: »

No they won't. So you're saying RRL wil be 25.25p in the next 7 weeks? You know that's crap. Hate these posts!

Have you seen the recent GKP news? What effect did it have on the SP? Little or nothing. GKP had a yearly high of 201.75p, before addding a few billion barrels of P90's..

If K2 is a success or Puntland spuds then yes i do. GKP is all about the oil law, they can add as much P90 as they like it's not going to shift things that much until the law is passed.

The Marlboro Man

neil.p.b wrote: »

If K2 is a success or Puntland spuds then yes i do.GKP is all about the oil law, they can add as much P90 as they like it's not going to shift things that much until the law is passed.

That is exactly my point. GKP hit a yearly high of 201.75p. No oil law was passed then either. They have also added a few billions barrels of oil in the meantime.

Puntland is even more screwed up than Kurdistan, so by the same logic the SP should fall or do nothing?

neil.p.b

The Marlboro Man wrote: »

That is exactly my point. GKP hit a yearly high of 201.75p. No oil law was passed then either. They have also added a few billions barrels of oil in the meantime.

Puntland is even more screwed up than Kurdistan, so by the same logic the SP should fall or do nothing?

My point is you can't compare GKP with RRL, or most oilies for that matter. You may compare Puntland with Kurdistan but it's just 1 of 4 assets in RRL. Although IMO oil in puntland will be priced more positively than in kurdistan- problems are with security, not ownership, big difference.

neil.p.b

http://www.investegate.co.uk/article.aspx?id=20111118073456P8E0A&fe=1

T&T 490% P1 upgrade

The Marlboro Man

What a fúcked up stock. Today's RNS would have any investor licking their lips.. 12.8 Mmbbls of P1's and she barely moves.

Someday true value will be realised, surely. I hate these pumped up stocks though - the ones talked about most in the forums, something about them...

Grecco

The Marlboro Man wrote: »

I hate these pumped up stocks though - the ones talked about most in the forums, something about them...

I agree, this one is particularly over done. Not the amount of shares but its the amount of PIs who are by now disillusioned with the lack of movement. The amount of pumping that went on earlier this year was unreal, all thats left now is bickering.
I can see this one take a dip now with a big sell off, no doubt manipulated further by the mm`s then all the PIs shares will be mopped up by the institutions.

Thargor

Its just a long term hold, we'll get there someday now practically guaranteed, oil is only getting more expensive. Trinidad is high quality easily extracted aswell, and the deeper formations are still to come that should be even more massive, and Range owns the company with the rigs. Still the Texas dividend to look forward to early next year hopefully and major goings on in Puntland.

I added 25k more at 8.9 the other day, I have 425k of these now and its probably where Ill stick any spare cash I have below 10p while the Euro crisis drags on. Cant believe they were worth 120 grand at one stage and I didn't hit sell, nobody could have predicted they'd drop back below 10p as the value of the company just got better though.

Grecco

Best of Luck with it Thargor I hope they come good. So much potential here that it will have its day but as you say its one for the long haul now

Thargor

Cheers Grecco, I thought you were in deep here aswell though? Always thought you were anyway.

Looks like we cut be in for big news regarding Offshore Puntland soon aswell, things are just getting better all the time, pity about the markets.

Grecco

Yeah I was in but I let 90% of my holdings get stopped out a while back back at a loss. (I should have top sliced when I was in profit to reduce my average) Cant win em all,
still I should recoup it long term with the last 10%. Just means that unless I reinvest I wont be retiring from this one I`m afraid

Thargor

Good reentry price for you these days, what is up with this share?

Man From Delmonte

Nice rise from Range so far today.....lets hope it continues....

Grecco

Punty news maybe? Seems were always last to find out :mad:
Still a good entry price alright Thargor (if only I could be sure that it was going to spud soon)
Might throw a few quid at it and see, you`d never know we may actually strike Oil

neil.p.b

Man From Delmonte wrote: »

Nice rise from Range so far today.....lets hope it continues....

Grecco wrote: »

Punty news maybe? Seems were always last to find out :mad:
Still a good entry price alright Thargor (if only I could be sure that it was going to spud soon)
Might throw a few quid at it and see, you`d never know we may actually strike Oil

Everything is up with the ftse today. But the main thing for me is Georgia is now out of the way, no uncertainty which the markets hate. Even at $75 a barrel, proven producing P1s value range at 16p, that will be increased with Smith 2 and Albrecht success and only includes 5% of the T&T licence area. I don't want to sound rampy but these prices are ridiculous! Hopefully the ftse can behave itself for a while.

Dude240502

If it isn't too off-topic, is anyone following any other shares in this market at the moment that if they were to make an announcement may possibly rise or is everyone invested all in Range? Also, is anyone else as optimistic that this share may hit the heights of early this year or did any lose faith in Range following the lack of reaction to the recent RNS?

Thargor

The action hasn't started yet so why would we lose hope? There wasn't really anything in the last RNS to react to, all the good stuff is yet to come and it really is all coming to a head now after all the delays.

Other shares I have that I hope will make me a lot of money in the next year or sooner: AMC, GKP, XTR, RMP.

Maybe even USOP

Thargor

Another good RNS out, SP still in the toilet though.

Do posters here agree with the other BBs that its all about the options now until the 22nd and this should correct afterwards?

Thargor

Spoke too soon, 9% up now. Still wondering about these options though, is it just another variation on market makers games and SP being held back and all that crap?

Thargor

And down she goes again.

neil.p.b

Thargor wrote: »

Another good RNS out, SP still in the toilet though.

Do posters here agree with the other BBs that its all about the options now until the 22nd and this should correct afterwards?

Alright Thargor. I think so. I remember a couple of months ago someone on rum, not anyone i recognised, was arguing with people that were claiming the price would be pumped up on the run up to options. He said that he'd been involved with a number of Australian companies who were coming up up to options expiry and the price was always kept down until after the expiry.

In this instance there's directors options in the fray also, and i'd assume they will have up until the 31st to take them up, unlike the private holders who have to decide by the 22nd and i'd imagine many are selling there shares to fund the options. I guess we'll see come the 22nd but i agree with kev-yorks (best poster on rum imo) that the share price will be radically different in a month than it is now.

The signs are there that things are going to change soon - book isn't as heavily weighted on the sell side, much much better written RNSs and becoming more frequent. As a said a few weeks ago i still think if we get puntland spud the brakes will be let off and we'll in the 20s. We moved about 15% up in no time at all earlier in what was a very good RNS, but nothing huge.

alanceltic

This thread has gone awfully quite, im guessing it has something to do with the fact that the SP is tanking. I have been a very interested spectator in this stock and have enjoyed the posts. I promised myself that I would only invest my hard earned cash in solid companies after having my fingers burned previously. I am open to the idea of having an element of my cash in a risky stock and i have been tempted with RRL but I cant help but think that this is a pump & dump stock. There has been some positive news over the last while but the markets have not reacted to it in any shape or form and I cant help but think that there are some people more clued in than others, there is certainly more sellers than buyers which is driving the SP south but WHY????

Would be interested to hear other people taughts and mabey something tangible /credible which stacks up the SP at the current price. What is the status on the dividend people have been referencing.

Cheers

Thargor

If you knew anything at all about the company or its prospects you'd realize how stupid calling it a pump and dump is.

neil.p.b

alanceltic wrote: »

This thread has gone awfully quite, im guessing it has something to do with the fact that the SP is tanking. I have been a very interested spectator in this stock and have enjoyed the posts. I promised myself that I would only invest my hard earned cash in solid companies after having my fingers burned previously. I am open to the idea of having an element of my cash in a risky stock and i have been tempted with RRL but I cant help but think that this is a pump & dump stock. There has been some positive news over the last while but the markets have not reacted to it in any shape or form and I cant help but think that there are some people more clued in than others, there is certainly more sellers than buyers which is driving the SP south but WHY????

Cheers

Nothing much to talk about of late that hasn't been already covered. Some of us post more regularly on another forum so don't venture here too much.

If you watch L2 you'll come to your own conclusions on why the stock is where it is. I only switch it on every now and again, others have it on all day and everyday and are able to give a better picture. But in brief ever morning there stacks of spoof orders placed on the sell side at 07.50am that have no chance of being filled but put downward pressure on the share price. Algorithms setting the price and keeping it in a tight range all day. News last week and the P1 490% increase saw the share price rise over 10% in minutes, goes into auction looking like it will break out and a 1million sell is added to the sell side away from the action, no hope of being filled. When the auction ends the sell is removed and the share price slowly drifts back down into its original days trading range. Many think its to due with the options so i guess we'll see if that's true within the next few weeks. Put it this way, directors options are out of the money at 6.5p, i'd guess the share price will be significantly higher then that by years end.

alanceltic wrote: »

Would be interested to hear other people taughts and mabey something tangible /credible which stacks up the SP at the current price. What is the status on the dividend people have been referencing.

Cheers

What are your thoughts on what underpins the share price of the company? Dividend won't be until Q2/3 2012

alanceltic

Thargor wrote: »

If you knew anything at all about the company or its prospects you'd realize how stupid calling it a pump and dump is.

Thats the thing I dont know too much other than what i have read here, some very interesting reading alright but iv been watching the last 6 months or so and in that time the SP is down in the region of 50% but the news flows have been fairly neutral to positive so i was just wondering what the disconnect was.

Sorry to burst your bubble but im just playing devils advocate...... albeit im sure you are more clued in but sometimes you can get sucked in.