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Range Resources (RRL.L) tipped by RHPS

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Comments

  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    I took a 40% profit on HRN profit and ran.

    Just too high risk for me. I was only trading it (on sentiment) anyway; hoped to get $1.15, but it was looking bullish so let it ran. Knew results weren't imminent, so had time on my side..

    Best of luck to all holders. Hope it works out.
    Do you not feel at this stage that they've probably found something? Enough to take the gamble anyway, I'm pretty confident oil has been found and wont be derisking, Id be buying if I had any cash left. Just from the deals that are being done and statements from Landau and others and everything else I 100% want to chance it.


  • Registered Users Posts: 2,650 ✭✭✭cooperguy


    Thargor your not alone here. A great end today.

    I am a bit sceptical about them finding oil already though. Fully confident it will come good, just a bit early yet.


  • Registered Users Posts: 3,417 ✭✭✭The Pontiac


    Thargor wrote: »
    Do you not feel at this stage that they've probably found something? Enough to take the gamble anyway, I'm pretty confident oil has been found and wont be derisking, Id be buying if I had any cash left. Just from the deals that are being done and statements from Landau and others and everything else I 100% want to chance it.

    Possibly, but I wouldn't take much notice of internet rumours at this stage. It's too early, and a bit go before they reach TD yet. I've heard these rumours many times in the past with DES, AEX etc..

    But the early indications of a 'working petroleum system' from the drill is encouraging and increases the COS. But I thought they knew this from the drills in the 1990's? There's a long way to go before any oil/gas is deemed as commercial - the quality of the oil, actual quantity, flow rates etc. Maybe a 40% COS is correct, but would have to do a bit more research on the wells drilled in the past by Amoco, Chevron and Conoco. Hard data to get hold of, and no commercial oil find was ever confirmed.

    AOI/HRN are also very experienced and a good operator. But HRN are a one trick pony, and if it goes tits up, the stock will tank. Worth next to nothing.. They will drill the Shabeel North-1 well next, but if the current drill doesn't go to plan then market confidence will be shot.

    There's also the political risks. ATM machines don't even exist in Puntland, it's that third world. Getting payments from the government - if an oil industry was ever formed - would be a serious concern of mine. Then there's all the other security issues to deal with, pirtaes etc.

    But then there might be a shít load of oil there, who knows. HRN is definitively a better bet than RMP though. Not sure how much the Georgia assets are really worth to RMP.

    HRN could indeed multi-bag if they find lots of oil, but not for me. 'Trap Oil' is more my play - a few free carries in the NS (more politically friendly) with many different drill prospects. But less potential upside than HRN.


  • Registered Users Posts: 926 ✭✭✭neil.p.b


    Well done on your trade Ollie.


  • Registered Users Posts: 3,417 ✭✭✭The Pontiac


    Cheers Neil.


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  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    Come on 15p!


  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Oil was originally found here so a few years back it not as if they are drilling blind. I suspect that they have encountered Oil twice so far on the way down to TD. There isnt a big share issue and they will get a major rise on a find.
    I`m letting my chips ride on this one, 40% rise is great but HRN will jump to over $30 on an Oil strike within weeks make no mistake about it, thats a huge huge return and well worth the punt for me


  • Registered Users Posts: 3,417 ✭✭✭The Pontiac


    I can't see it going anywhere near $30 though. HRN will have of 140m in issue when the warrants are exercised. It should still multi bag though, if all goes to plan..

    Vast Exploration also found a load of oil in Kurdistan, but couldn't get the stuff out of ground. The SP today reflects this. We still don't know a lot about geology of Pundland.

    It's an exciting play, I will say that though.


  • Registered Users Posts: 926 ✭✭✭neil.p.b


    Not a hope they'll hit $30 on a shabeel strike. Maybe on a Shabeel, Shabeel North and Nugal success. I'd be more than happy with $10 on shabeel hit and i even think that is a bit of a ramp.


  • Registered Users Posts: 41 EdenCyrus


    And were off......16.20p

    I knew all that trading in the ASX last night meant something.

    Anyone holding RRL.L Well done!;)


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  • Registered Users Posts: 2,650 ✭✭✭cooperguy


    EdenCyrus wrote: »
    And were off......16.20p

    I knew all that trading in the ASX last night meant something.

    Anyone holding RRL.L Well done!;)
    I was just having a browse around Boards on my bank holiday, completely forgetting that markets would be open. You just made my day off even better :D


  • Registered Users Posts: 139 ✭✭AP_MAN


    yah, looking good on nice volume, ...16:30p
    EdenCyrus wrote: »
    And were off......16.20p

    I knew all that trading in the ASX last night meant something.

    Anyone holding RRL.L Well done!;)


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    Ah a full Irish for breakfast and my Xtract losses wiped out nearly 3 times over in one morning, its great being heavy in RRL :D

    Pray that news from Puntland is good though.

    And RMP is still going vertical, how many days in a row is that now? Hoping to see HRN match and exceed that very soon.

    Bit of drama on RUM this morning! Anybody want to take a stab at whats going on with this mysterious new company JR is supposed to be emailing a privileged few about? From Trading Faces on GiftedGenies forum:
    JR has banned me from RUM it seems.

    Kev Yorks is as stright as the day is long.

    Please let Rummers know that I no longer wish to be part of it anyway
    but will miss them all.

    Rum has morphed from being a convivial community forum to a one man
    rampathon where free speech or questioning admin is not allowed.

    It is now a dangerous place.

    JR knows very little these days because he can't keep anything
    secret.

    He is told what is allowed to get out for obvious reasons.

    That is why he is often out with his predictions.

    The whole skullduggery around KAB stinks.

    JR has sold down millions of Range in the last few weeks whilst
    spruiking others to buy them.

    He is allowed to do whatever he wants it is his money. But the private
    ramping circle to buy into KAB, set up a new forum then encourage
    buying stinks.

    He talks about a community of friends but actually RUM is a one man
    dictatorship.

    JR knows it and the banning farce today just confirms it.

    TF


  • Registered Users Posts: 139 ✭✭AP_MAN


    guys.. is some thing happening... or system error

    HRN - pre market 2.55 ask 2.55 bid


  • Registered Users Posts: 139 ✭✭AP_MAN


    seems system error...

    http://finance.yahoo.com/q?s=hrn.v&ql=1
    AP_MAN wrote: »
    guys.. is some thing happening... or system error

    HRN - pre market 2.55 ask 2.55 bid


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    Still 10% up though.


  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    At the same time HRN is on the move again, up over 13% already. HRN has a bit of catching up with RMP but still its gaining nice and steady these days and is less prone to spikes
    An oil strike will see this one jump well out of reach


  • Registered Users Posts: 41 EdenCyrus


    So what caused the error this morning? I nearly had a heart attack! When I got an alert on the sp.


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    OTC up 10% now aswell not that it means much:

    http://www.otcqx.com/qx/market/quote?symbol=RGRYD


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    HRN up 21% now, looking good.


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  • Registered Users Posts: 790 ✭✭✭alanceltic


    It's looking very good. I'm just trying to figure if it is simply playing catch-up or if there is info leaking. We are 60 plus days post spud, We must be close to TD. I'm just glad I finally got my horn trade sorted last week


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    28% now, come on the HRN!


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    MES up 51%! AOI up 6% aswell, good volume in both. News tomorrow?


  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    But all it says is that were at 2384meters with no results to report yet.
    http://www.hornpetroleum.com/s/News_Releases.asp?ReportID=513360&_Type=News-Releases&_Title=Horn-Petroleum-Operations-Update

    I think they had to release a RNS due to the recent SP gains to please the regulators


  • Registered Users Posts: 41 EdenCyrus


    That means there must be a leak somewhere in the company and it is just boiling down to speculation. Perhaps a pump n dump could be in the works. It seems unlikely but its still possible.


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    So what did we think of the days drama then? Thought it was a great RNS and we held 15p after announcing more dilution, God I cant wait to see how this all plays out, really starting to think I converted my RMP to HRN too early now though.


  • Registered Users Posts: 41 EdenCyrus


    A lot of people got flustered from the RNS this morning, many saw what it really meant and a few didn't. I heard a few pulled out and then moaned about it 4 hours later. Its all up from here I think. Range are not stupid. They are in it for the long haul. If anything, it just makes it that slightest less risky. Oil is probably imminent there. Puntland have alot going on it.


  • Registered Users Posts: 926 ✭✭✭neil.p.b


    Great RNS. People moaning about dilution, how did they think we would fund colo? I expect we'll be in the 20s in the next 2 weeks - still have a big T&T RNS to come.

    Bit annoyed about RMP getting into offshore, only because PL had categorically stated they wouldn't be involved. I still think HRN and MES are a better combination into Puntland than RMP.


  • Registered Users Posts: 17,848 ✭✭✭✭Thargor


    For those of you not on GiftedGenies forum a very interesting in depth email from Peter Landau to a member there tonight, he says dont repost it but Boards doesn't count :D
    For what its worth - my frank email exchanges with PL today

    Humble request, please do not post this elsewhere.

    Peter,

    See below, you said back in Jan that red emp would not be involved and
    yet 2 months down the line red emp are being offered a way in.

    I never thought I would say this but, how do you expect any sole range
    holder to take you say seriously. By continually involving RMP and I
    am not exactly sure why you continue to do so. Can you please explain
    what clout or expertise RMP brings to the table?

    Indeed, why should anyone now hold range when you can better rewards
    with RMP it seems.

    Francis

    On Tue, Jan 17, 2012 at 6:45 AM, Peter Landau <peter@okapventures.com>
    wrote:
    Thanks francis - offshore maybe 2-4 weeks - wouldn't be horn or red
    emp - cheers p


    PL reply:

    Francis - I would have thought you could read more into the opaque
    nature of the reference - no % , no terms - how are they involved - if
    they want to farm in on terms better than other jv partners why
    wouldn't we take their money (would never do offshore alone) - don't
    see how RMP is rewarded before a deal is cut and cant help you if you
    think trin, texas and Colombia (now all fully funded) are all duds


    Peter,

    "It is Ranges intention to offer a participation interest to its joint
    venture partner, Red Emperor Resources NL (ASX:RMP) on terms to be
    agreed"

    Please explain why the reference to RMP in the RNS. It adds no benefit
    to Range whatsoever because RMP has no expertise or clout in these
    matters.

    Fine you could do that privately, which I am sure you do that with
    other potential partners or interested parties. Will you mention them
    too?

    My point is that why is RMP tagging along? What do they bring to the
    table? We both know, neither Range and nor RMP are going to do
    offshore on their own. Protecting share holder value would be if you
    held on 100% interest and then brought in one of the majors to come
    and drill. They would get the majority share and yet we hold a decent
    amount for ourselves. But in what you announced today, a big oilie
    will come in but for some inexplicable reason, RMP will be tagged
    along too thereby diluting our share to accommodate RMP. How on earth
    is that in my interest as a Range share holder that RMP is brought
    along which is inherently a better opportunity (owing to lower mcap
    and fewer shares in issue) for the same prospect. This to me just does
    not make sense. I understand why you did it the first time round, but
    there are no excuses for it this time.

    It seems more and more that RMP is our HORN except that range
    shareholder gain NO benefit whatsoever from RMP. Infact, it causes
    harm to RRL with people switching investments over to RMP. If you are
    not sure then look at the rise of both range and rmp recently.

    Colombia is years away from getting us anything, TT just does not seem
    to be getting out of 1st gear and Texas has saved our bacon with
    regards to our non puntland assets. I am not even going to mention
    Georgia as that has proven to be a dog. Why hire the same people to do
    the siesmics when they got it so horribly wrong the first time is
    beyond me. This is why puntland is still so crucial for us.

    As holders of Range, please do not take us for mugs, we know the games
    that are being played and its about time you start focusing on
    shareholder value for Range and not RMP. Once you lose credibility,
    its hard to get it back and I am afraid you are beginning to tred in
    that territory in my eyes and I say that as a person who was quite a
    staunch supporter of you.

    Kind Regards,

    Francis


    PL reply:

    Francis – lets be very clear on 2 points

    - RMP was mentioned because if we have a discovery on shabeel
    they will be in a position to pay far more for participation in off
    shore than anyone else (they almost have to) – it is a massive benefit
    for range when farming out its 100% and for the life of me I cannot
    work out how you can suggest RMP have benefitted when no deal is done

    - more importantly lets look at your sentence

    Colombia is years away from getting us anything (straight out wrong
    but can only show you this when we release the full detail) , TT just
    does not seem to be getting out of 1st gear (because petrotrin have
    handcuffed us with timing of announcements and rolling out drilling
    program has suffered teething problems – flow rates there just initial
    delays) that can change very quickly with the next 2 6500 ft wells we
    are drilling and an agreed program with petrotrin which allows to
    release at least one a month) – no argument its slow to get of the
    blocks but like puntland – once it gets momentum it will move - Texas
    has saved our bacon with regards to our non puntland assets
    (disagree). I am not even going to mention Georgia as that has proven
    to be a dog. Why hire the same people to do the siesmics (the shooting
    of the seismic wasnt the problem – it was arguably the interpretation
    and we have got rid of the 2 main original consultants and replaced
    them with 2 new groups who are proving far more valuable) when they
    got it so horribly wrong the first time is beyond me. This is why
    puntland is still so crucial for us (disagree and the fact that 3
    major long only oil and gas funds are prepared to back us pre puntland
    td supports the strength of texas, trin and Colombia irrespective of
    puntland result) .

    Your focus on RMP value just astonishes me – we didn’t farm down to
    RMP _ we assisted in finding a group for AOC to farm down after they
    asked us to assist – we weren’t part of the negotiations – if you
    think puntland is where it is all at you should be piling into HORN
    based on our pure logic and common sense – Georgian farm out seems to
    have been a good idea to date and there is no offshore deal at this
    point in time - always happy to respond

    Cheers p


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  • Registered Users Posts: 926 ✭✭✭neil.p.b


    For what it's worth i'd be shocked if Horn weren't involved in offshore. After all the work Hill/Lundins have put into Puntland so far i can't see them letting off-shore slip away. It's just a matter of whether they are in on RRLs block or have their own.


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