Range Resources (RRL.L) tipped by RHPS

Thargor

Are you a believer in the conspiracy theory that the RNS was designed to drop the price then?

neil.p.b

I wasn't but i am now. Price drops, HRN organise and complete a $15m dollar in three days over the weekend, next day KH comes out with those details. Price is now rallying back up. Two scenarios:

1) They know damn well what they've got and it's a goer, everyones loaded up now on the cheap.

2) They still aren't sure what they have but the price will be at a relatively high level (like today) for the placees to dump their stock for 100% profit before the wells are tested. I know they placees can't dump for 4 months but i'd imagine they are already stock holders which allows them to dump current stock for guaranteed profit whist being replaced basically for free which placee stock. Will be interesting to watch price action over the next couple of weeks.

I'm also watching price levels of HRN and RMP. When you multiply RMPs price by 9 you should get HRNs, HRN is still about 20% what it should be given RMPs but if they come close to parity i'd consider switching back on the basis we know RMP will get some offshore while it still isn't known if Hill/Lundin will use HRN for offshore.

Thargor

A very managed feel about the whole thing alright.

AOI broke through $10 dollars today aswell, that was a serious missed opportunity.

neil.p.b

My love for RRL cost me, just completely ignored it. Never again.

turbobaby

neil.p.b wrote: »

I wasn't but i am now. Price drops, HRN organise and complete a $15m dollar in three days over the weekend, next day KH comes out with those details. Price is now rallying back up. Two scenarios:

1) They know damn well what they've got and it's a goer, everyones loaded up now on the cheap.

2) They still aren't sure what they have but the price will be at a relatively high level (like today) for the placees to dump their stock for 100% profit before the wells are tested. I know they placees can't dump for 4 months but i'd imagine they are already stock holders which allows them to dump current stock for guaranteed profit whist being replaced basically for free which placee stock. Will be interesting to watch price action over the next couple of weeks.

Great post Neil. It just goes to show there is so much more going on behind the scenes. The stock market is not simply a place for buyers and sellers to meet. It's a plaything for the bigger fish who manipulate prices for their own gain. Every day is a schoolday for me in terms of these kinds of manoeuvres.

christeb

Thargor wrote: »

A very managed feel about the whole thing alright.

"Blue Horseshoe Loves Anacott Steel" is my new motto when it comes to investing. I think there's a lot more insider trading than anyone realises. In a tough economy and with small-cap shares, I think this is magnified.

Thargor

AOI tearing past $11 dollars to close at an all time high tonight, up 13.8% to $11.35, HRN keeps making back its losses aswell, up 15.33%, Puntland spud RNS due soon.

Soulja boy

I hadn't paid attention to range for a while, creeping back up a little based on this I guess

http://www.stockhouse.com/News/USReleasesDetail.aspx?n=8534387

Thargor

Great result today and yesterday, Texas was put up for sale today aswell.

odd1

can someone explain to me, why they want to spin off puntlan after spen.ing 7 years trying to evelope it....

they are saying trini is the jewel in the crown, yet it was only last year they bought it...

why the change in
policy

why the rush to get shut of after 7 long years when they are so closeto proving it up...

[ps one letter is broken on key boar.... cant say match of the -ay]

cooperguy

Recent interview with Landau posted on iii: http://www.miningmaven.com/k2/companies/range-resources/range-resources-july-update-interview-with-md-pete-landau/

What do people think of his strategy to control share price. Buy backs etc.?

thomasm

Any reason for 21% drop today..

AP_MAN

http://www.rangeresources.com.au/fileadmin/user_upload/asx/puntland-drilling-update.pdf

thomasm wrote: »

Any reason for 21% drop today..

cooperguy

23 July 2012


The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000


By e-lodgement


PUNTLAND DRILLING UPDATE

Range Resources Limited ("Range" or the "Company") provides the following update
on the Shabeel North well currently being drilled in Puntland, Somalia
by the Company's Joint Venture Operator, Horn Petroleum Corp. (TSXV: HRN).

An open hole Drill Stem Test (DST) was conducted over a 50 metre gross interval
(1910m - 1960m) which contained several sands in the upper portion of the primary
Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm
Cl-) without any traces of oil. The current plan is to drill ahead to the
originally planned depth of approximately 2400 metres which will penetrate the
remaining section of Jesomma sands at which point the entire section will be
evaluated by electrical logging to determine if further testing is warranted.


Yours faithfully

Peter Landau
Executive Director

This would be the reason. Lets hope the last ~400m work out!

Thargor

Puntland failure is well priced in at this stage it seems, just got to wait now.

Grecco

This is on a continuous slide lately. looks like it could go below 4p soon.
Would 3.5p be a good entry price if we get there?

cooperguy

Fox-Davies reiterate their buy recommendation and target 25p

http://www.fox-davies.com/media/41700/rrl_ln__buy__07_nov_2012_-_flash_note.pdf

phoenix1234

Fox Davies is house broker - it is paid to say that: Issue is cash or lack of it.

In terms of that look here


In terms of FD note and why it is a joke look here

http://www.tradingresearchpoint.co.uk/2012/11/08/range-resources-in-the-interests-of-balance-a-broker-buy-note-and-why-it-is-worthless-with-correction-and-added-comment/ http://www.tradingresearchpoint.co.uk/2012/11/08/range-resources-in-the-interests-of-balance-a-broker-buy-note-and-why-it-is-worthless-with-correction-and-added-comment/

JaimeLannister

Are many still holding here???

Decent bit of news flow has sent the SP on a bit of a run (up 25% in the last month or so) - although a way to go yet before most holders are back in the money i'd imagine

What do people think - is Pistol Pete gonna redeem himself, or has the city lost all faith. Is 2013 gonna be as disappointing as 2012? Are we gonna have another good Q1 with a subsequent fall off?

Personally hoping that after a barren few months, the news flow here over the next few weeks can keep this mini run going. Had a bit of cash lying around back before xmas so decided to average down (circa 6p now) Think it goes without saying that the next Trinidad RNS or two will be crucial!

christeb

up nearly 13% today

Thargor

Up 75% in the last 2 weeks, wonder what the explanation will be? RMP racing along aswell, up 60% in Oz overnight.

Kristopherus

60% of what, though?:D. They have to go to 15c before I see stars:(

JaimeLannister

It’s been a nice week so far – was almost back above water at one stage today! Beginning to expect (as opposed to hope) that there’s more to come as well over the next few days/weeks. Very much looking forward to the next Trinidad update.

Although have to admit I’m a bit intrigued as to why RMP has moved so much. I didn’t think this weeks Gerogia RNS was anything special, in the short term at least, and certainly not enough to double the share price (granted it was very low to begin with). Just speculating but could it be possible that RMP will be involved in whatever deal goes down in Guatemala. Still struggling a bit to get my head around the details of this RRL/CTR/LAR relationship though admittedly!

neil.p.b

Looks like today was the near term top IMO, A LOT of shares were dumped by the professionals. Expect to see early-mid 4s before next leg up. Closed my long a bit early yesterday

alanceltic

Im not entirely convinced Neil, reading between the lines there is an awful lot of news which is due for release which could give this the next leg up.

Now reading between the lines is VERY difficult to do with Range but PL is a poker player, no doubt. I don't like him 1 bit but he knows how to play the game. I cant help but feel he has orchestrated the juicy bits from T&T to coincide with new fiscals, a bit of a no brainer and there was also kick back payments due in Dec'12 which were target driven, surprise surprise these were not triggered.

Medium term there is enough good prospects to keep this running, what seemed to hold it back was the short term concerns on cash flow/cash burn and hopefully this gets addressed with Texas funds.

Anyway like I said im not convinced that we are topped out at 5p in the very short term.

Thargor

Not in but does RRL have any cash or is more dilution coming?

neil.p.b

alanceltic wrote: »

Im not entirely convinced Neil, reading between the lines there is an awful lot of news which is due for release which could give this the next leg up.

Now reading between the lines is VERY difficult to do with Range but PL is a poker player, no doubt. I don't like him 1 bit but he knows how to play the game. I cant help but feel he has orchestrated the juicy bits from T&T to coincide with new fiscals, a bit of a no brainer and there was also kick back payments due in Dec'12 which were target driven, surprise surprise these were not triggered.

Medium term there is enough good prospects to keep this running, what seemed to hold it back was the short term concerns on cash flow/cash burn and hopefully this gets addressed with Texas funds.

Anyway like I said im not convinced that we are topped out at 5p in the very short term.

5.9 actually! Hit 4.6 this morning which may be it and it also filled a gap but i'd still be inclined to think it will hit 4.3ish. 6p is tough resistance and after the jump it has just had prices will need to rest for a bit before attempting to break it again. I don't really check the BBs anymore but i'm presuming all the RRL holders are getting excited, putting on longs etc, perfect time to drop the price and take out all those stops!

PL also doesn't control the price and positive news doesn't always lead to a an increase in price, especially when its been on a big run before and everyone already pretty much knows the news anyway. Take the Puntland spud RNS for example, the day before it was 13.25, the day of the release it hit 10.25, a week later prices hit 8.2.

alanceltic

Whats slightly different about the price action at this point is there are an AWFUL lot of investors who are under water and completely disillusioned by PL (me included) and rather than people selling into a spike or topslicing, people are actually waiting in the wings to hit their breakeven point before even considering selling so the gap up might not actually have too much resistance, especially when you consider a lot of fresh equity came pre Puntland so would be close to 10p.

alanceltic

Thargor wrote: »

Not in but does RRL have any cash or is more dilution coming?

Unlikely to require any further dilution. There is a debt facility in place and more importantly there is the Texas funds due any time soon which is talk of circa $20m.

Now we have see dilution before when we were promised there would be none so its not beyond PL to water this down again but IF there is dilution I would assume it is to finance an acquisition which technically isn't dilution in the real sense.

neil.p.b

alanceltic wrote: »

Whats slightly different about the price action at this point is there are an AWFUL lot of investors who are under water and completely disillusioned by PL (me included) and rather than people selling into a spike or topslicing, people are actually waiting in the wings to hit their breakeven point before even considering selling so the gap up might not actually have too much resistance, especially when you consider a lot of fresh equity came pre Puntland so would be close to 10p.

There's also all the professionals who will have been accumulating over the past few months who will be dumping. IIs > PIs. Look at today, price has not budged a bit but a huge number of shares trading hands, this is always a warning sign after a big jump - distribution. Anyway time will tell, if you see prices start to fall back don't be concerned its just taking a breather IMO. I will post a chart later tonight if i get a chance explaining it all if you are interested.