Range Resources (RRL.L) tipped by RHPS

doedoe

my average is still fairly high here but ive plenty of confidence in Range, with the current climate this is just going to require a little patience.

xertpo

Maybe I should change my strategy on this stock and start day trading it. Or maybe I should stop looking at the SP like I said I would.

Grecco

SP is getting a bit of a hammering of late, is this due to anything in particular or is it just the lack of news and a wait till the next set of results?

I was thinking of buying up some more at the sub 15p price

poodles

Grecco wrote: »

SP is getting a bit of a hammering of late, is this due to anything in particular or is it just the lack of news and a wait till the next set of results?

I was thinking of buying up some more at the sub 15p price

Nothing in particular dragging this down Grecco.

Spud for Georgia sometime around July 7th

Expected news from Trinidad and Texas also.

News from Puntland is out of Ranges hands and will come fro AOI

Grecco

Just got in under 15p

Thargor

Georgia has spudded!

http://www.asx.com.au/asxpdf/20110714/pdf/41zrsgppw8tbf0.pdf

40-45 days to go.

Seifer

Can this stock be bought with a sharewatch.ie account? Or how are people acquiring it?

Thargor

Id be shocked if any broker in Ireland/UK said they couldn't trade this for you, its on the AIM in London, ticker RRL.L or LON:RRL.

http://www.google.com/finance?q=LON:RRL

Dude240502

Thargor wrote: »

Georgia has spudded!

http://www.asx.com.au/asxpdf/20110714/pdf/41zrsgppw8tbf0.pdf

40-45 days to go.

Do you mind if I ask until what?

Thargor

Until we find out if there's oil/gas hopefully! In that particular well anyway, this is the start of a multi-well drilling program. There could be an extra week or 2 for logging and analysis aswell to determine if anything they find is worth extracting commercially, also the last RNS said the first couple of hundred meters had been slow and difficult but they were well on track now so we don't know for sure when news will come but it is close now. They're drilling on some very promising looking targets.

An RNS about a Puntland spud could come any time aswell.

Dude240502

Did they not already find in Georgia and the share price fell afterward, is this expected to be a transformational announcement and is there any reason to think the share will rise as a result?

Thargor

No that sounds familiar, I think you might be confusing that with Xcite or DES or someone, this is Ranges first drill in Georgia and if they find oil in commercial quantities its going to be transformational for them, probably a doubling or more of the SP overnight and more than that for their partners Red Emperor who a lot of people that hold Range also hold. They've never drilled in Georgia before.

Grecco

Lads anyone any idea why were down around 14p at the moment.
When is the next news due

Dude240502

Thargor wrote: »

Georgia has spudded!

http://www.asx.com.au/asxpdf/20110714/pdf/41zrsgppw8tbf0.pdf

40-45 days to go.

Is this not the event all the posters anticipated, is there a reason why the share price didn't rise?

cooperguy

The almost US default and possible debt downgrading and the shitty economy in general. No news for another few weeks.

Sit tight, the company itself hasnt changed and SP should come right eventually. If you believed in it when you bought it i dont think anything has happened that should change that.

Thargor

Dude240502 wrote: »

Is this not the event all the posters anticipated, is there a reason why the share price didn't rise?

Anyone can spud a well anywhere, finding oil drives the price.

Anyway look at the markets, its a sh1tstorm at the minute, everything is down.

Dude240502

Does anyone else here expect this to multiply in the near future?

Cute Hoor

A big drop in price today to 12.75, a 10.5% drop, is there any specific reason for this or is it just the current overall market sentiment.

Thargor

Fundamentals haven't changed so you just have to hold on, loads of oil companies dropped on AIM today.

Cute Hoor

Thanks Thargor

neil.p.b

Blood bath today so far. Don't remember last time i saw such a sell off. Been calm enough with the continued drop so far but beginning to have to look away now, @10p. Hopefully it'll bounce this afternoon. Still holding. Would be mad to sell at these levels IMO, hate to jinx it but i think/hope this is the bottom, double to single digits will hopefully provide some psychological support. Thargor you're wrong though, fundamentals have changed: 100% TT, Georgia spudded, Puntland close to mob!!

turbobaby

Hey guys, slightly off topic but just asking if there's any expertese you may be able to explain what I have seen on one AIM stock the last couple of days. (Petroceltic by the way. A crock of sh1t!)

They announced poor drill results and the SP tanked. Grand, but here's what I've notice when watching the live bid/asks and trades. As an FYI, the shares are not heavily traded.

1. As it was falling there was one buyer continuously buying tiny amounts (726 shares at 7p).

2. Today I have noticed the bid price changing very quickly by one penny, up and down, back up and down again every couple of seconds, now and again. It's very obvious as the spread is usually over 20p so the one penny moves are insignificant.

My suspicions are that 1 and 2 above are signals to buyers/sellers "in the know".

Are there any stock brokers here who might be familiar with this kind of behaviour?

cloonty

...

Grecco

Ahh sh**t all my Aim stocks have tanked today and no stops in place

RRL -17%
Max petrolium -10%
rockhopper -17%
Petrolatina -10%

feck sake its gonna take months to recover

Xarathustra

turbobaby wrote: »

Hey guys, slightly off topic but just asking if there's any expertese you may be able to explain what I have seen on one AIM stock the last couple of days. (Petroceltic by the way. A crock of sh1t!)

They announced poor drill results and the SP tanked. Grand, but here's what I've notice when watching the live bid/asks and trades. As an FYI, the shares are not heavily traded.

1. As it was falling there was one buyer continuously buying tiny amounts (726 shares at 7p).

2. Today I have noticed the bid price changing very quickly by one penny, up and down, back up and down again every couple of seconds, now and again. It's very obvious as the spread is usually over 20p so the one penny moves are insignificant.

My suspicions are that 1 and 2 above are signals to buyers/sellers "in the know".

Are there any stock brokers here who might be familiar with this kind of behaviour?

Algo time bitchez...

Thargor

Grecco wrote: »

Ahh sh**t all my Aim stocks have tanked today and no stops in place

RRL -17%
Max petrolium -10%
rockhopper -17%
Petrolatina -10%

feck sake its gonna take months to recover

Same for me, ****ing horrible, just have to hope most people have gone to cash and will come piling back in the minute things stabilize, horrible few days though.

Dude240502

Do you think this will contine into tomorrow, do you see any hope of return to previous levels in the next few months?

yobr

Grecco wrote: »

Ahh sh**t all my Aim stocks have tanked today and no stops in place

RRL -17%
Max petrolium -10%
rockhopper -17%
Petrolatina -10%

feck sake its gonna take months to recover

Feel your pain, in the same boat here...I don't mind taking a few months to recover as long as they do...

Thargor wrote: »

Same for me, ****ing horrible, just have to hope most people have gone to cash and will come piling back in the minute things stabilize, horrible few days though.

Agree, thought I was clever and got a few RRL in the morning and then watched it plummet in the afternoon...will wait till pm tomorrow and see what we will do..FOGL are sub 50p and a good longer term bet although god knows what will happen tomorrow.

Thargor

Dude240502 wrote: »

Do you think this will contine into tomorrow, do you see any hope of return to previous levels in the next few months?

Yep, the world needs oil and forgetting about Georgia and Puntland then Trinidad is a company maker all on its own, along with Texas those are strong producing assets, Trinidad is just getting a big drill program underway aswell.

If I had to guess Id say things will be down again tomorrow or flat at best, hold for a year or more if you have to, dont sell at these prices.

Soulja boy

Grecco wrote: »

Ahh sh**t all my Aim stocks have tanked today and no stops in place

RRL -17%
Max petrolium -10%
rockhopper -17%
Petrolatina -10%

feck sake its gonna take months to recover

Would people suggest buying in Max petrolium or rockhopper? Could it be expected to drop a lot further?