Range Resources (RRL.L) tipped by RHPS

Grecco

Soulja boy wrote: »

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

I don't think anyone here could give you an answer to that one, for sure the way market sentiment is its possible.
For me Max is the most exciting for the next few months so I`ll use this opportunity to top up at the current price
but you could spread it across Max, Range and RockHopper if your up for a bit of oil speculation!!!

Soulja boy

Grecco wrote: »

I don't think anyone here could give you an answer to that one, for sure the way market sentiment is its possible.
For me Max is the most exciting for the next few months so I`ll use this opportunity to top up at the current price
but you could spread it across Max, Range and RockHopper if your up for a bit of oil speculation!!!

From what I've seen petrochemicals have been temperamental since the 2008, often swinging high as well as low but I think I might make a small spread on them, thank you.

Thargor

Nice rebound today, nowhere close to where we were obviously but any worries I had this week are gone when you think of whats coming in the next 6 months.

USOP seems to have just shrugged the whole thing off, so glad I got in there early.

Petroceltic though, what a disaster, feel sorry for their holders.

Man From Delmonte

Its been real interesting to watch how quick the markets have moved on this the last few days.

From reading on iii.co.uk it looks like a combination of MMs and the US/Euro issues caused it to drop so quickly, then the bargain hunters got in Friday to give it a little support.

I bought in at an average of 16.6 so sitting on a big loss at the moment but I'm not overly worried as the fundamentals haven't changed, it should still come good!

Thargor

Just keep in mind what a good deal Trinidad was, it'll be a cash cow for years to come funding future projects so your money is safe even if Georgia and Puntland let us down, it even comes with its own drilling company and rigs.

Dude240502

Is there a reason why GKP was hit so hard, if you were looking to capitalise on the recent losses, is there a share that you think has the best chance of recovery? Do you think it is invetible that the share price will open lower tomorrow?

Thargor

Are you asking me? GKP was hit as hard as the rest as far as I can tell, Im still holding my GKP for the very long term or until takeover anyway, very good share, and very safe with the amount of reserves they have, bargain price now if you ask anyone on the boards.

As for the other questions Id be a billionaire if I could answer things like that with any certainty, see what the Asian markets do when they open tonight as an indicator for tomorrow.

Thargor

Brilliant RNS today to leave us up 8.82% at the close when everyone else was getting hammered:

First Well Success in Trinidad International oil and gas exploration, development and production company, Range Resources Limited ("Range" or "the Company") is pleased to announce that in the two months since completing its Trinidad acquisition, the Company has successfully drilled its first development well on the Morne Diablo Block. As part of the initial 21 well drilling program, the MD 247 well was drilled to a total depth of approximately 900 ft using the Company's own drilling rig and personnel. Despite the shallow depth, open hole logs indicate the presence of roughly 145 ft. of net oil pay in the shallow Forest Formation, an established producing horizon on the block. Casing is currently being run in the well in preparation for production testing next week. Added Peter Landau, Range's Executive Director, "The successful drilling of the MD 247 well indicates that Range's aggressive program to increase production and cash flow in Trinidad is on track and the first pay zone size has exceeded expectations. As previously announced, we will be adding a second and third rig to the remaining 20 well 2011 drilling program in order to begin exploitation of deeper producing reservoirs. The MD 247 well is only the beginning for us in Trinidad, but represents an important milestone for Range as our first internationally operated well, drilled and completed by the Company's own operations team using our own equipment." The Company looks forward to keeping our shareholders updated as our drilling program continues in Trinidad, Georgia, Texas, and Puntland, in what will be an exciting period for Range with wells being drilled on all four the Company's assets in the coming months.

Hopefully 20 more of those to help us pass the time until Georgia and Puntland news

Dude240502

Is this not another anouncement that was supposed to set the share off, it did increase a little, is anyone disappointed, I'm sorry to ask this but was this announcement not expected to do a lot more, if not is there an event in the future that truly will be a company maker?

royaler83

Dude240502 wrote: »

Is this not another anouncement that was supposed to set the share off, it did increase a little, is anyone disappointed, I'm sorry to ask this but was this announcement not expected to do a lot more, if not is there an event in the future that truly will be a company maker?

Do some simple research, Georgia and Puntland spring to mind. SP jumped 8% on a day of complete market turmoil, what does that tell you?!

Thargor

Look whats happening in the world, give it time, Range is perfectly capable of doing 20-30% jumps in a day don't worry about that, it did plenty of them when we acquired Trinidad and it shot up to 24p from 10-12p, a lot of Trinidad was priced in back then then hammered down by events.

The true company maker will be growing from a penny share explorer to a mid-tier oil producer but that will take months/years, its an investment. Even if Puntland and Georgia which are both company makers fail, the cashflow from Texas and Trinidad will let us try again, there's really no other company like it for this price at the minute.

Have a look at USOP if you want a potential multi-multi-bagger if they find oil in the next few months, a duster will wipe them out though.

Thargor

Africa Oil are definitely on for drilling in Puntland in the next few weeks:

http://www.marketwire.com/press-release/africa-oil-puntland-drilling-update-tsx-venture-aoi-1550973.htm

Grecco

Lads I don't want to sound like a downer, I have done well out of range resources, but is anyone getting a bit nervous with this stock, its just that there seems to be a lot of shares on loan and if Georgia comes up as a duster it could send the SP well below 8p.
Any opinions ??

Thargor

Same for any oil company really, except we have so many prospects if you're willing to hold for a year, a duster in Georgia will recover as Puntland gets closer (and we drill other targets in Georgia), a duster in Puntland and Trinidad will see it recover and theres the possible sale of Texas and dividend in Q1 2012, you'd be mad to sell now so there's no point worrying about it, we'd be over 20p if it wasn't for the current global situation. Everything else is getting hammered aswell, loads of other AIM oilies are down 40-50% from recent highs.

neil.p.b

Thargor wrote: »

you'd be mad to sell now

Agreed, it can only get better.

Grecco wrote: »

is anyone getting a bit nervous with this stock, its just that there seems to be a lot of shares on loan and if Georgia comes up as a duster it could send the SP well below 8p.

Share price is at 12p so success in Georgia is totally discounted IMO, of course a duster would have a short term impact on the share price due to sentiment but it should reccover quickly, it's at 12p due to known value of Texas and T&T.

I'm not nervous at all on the stock, just a bit annoyed with the delays. Having said that i won't be selling a single share until the dividend from Texas at least, between now and then there's two drills in Georgia and Puntland, 3 in Texas, 20 shallow drills in T&T and 1-2 deeper drills in T&T. You won't find another oiler with that programme over the next 6 months.

Remember the share price can be moved up as quickly as it's gown down (remember 8p to 24p). As Buffet says the market is a mechanism for transferring wealth from the impatient to the patient. If you still trust in the fundamentals that you invested in initally then just hold tight, it's been a difficult few months for everyone in the markets.

Cute Hoor

There is significant movement, up and down, on the share price, particularly over the last couple of weeks, but also in general, up around 10% today on the opening price, do any of you do a bit of buyin and sellin (in ticket tout parlance), seems to me that there are opportunities to build up a free holding of shares.

Seifer

Range's recovery again stymied by greater market forces.
What do you think of the acquisition of the stake in Tangiers Petroleum?

Link

Thargor

Nice if they strike but irrelevant really in my opinion, T&T, Georgia and Puntland will be the deciders. On RUM this morning JR said:

Lastly, Puntland offshore. This is back on the agenda and we are
accelerating a O/S strategy and this is, let me tell you, front and
centre at the moment.

That could be frigging massive, like a GKP/RKH style transformation all on its own. A long way away though.

Still, happy to hold, special dividend in early 2012 from Texas sale aswell hopefully, maybe around 8-10p a share. Cant wait to see how it all turns out.

neil.p.b

Off-shore Punty would be huge and it's looking likely, could be +30 billion barrels down there. The BOD just never seem to rest. I'll be adding some more shares in the next few days.

neil.p.b

New broker report:

http://www.fox-davies.com/media/414996/rangecoverageupdate12sept2011.pdf

Risked target price of 24p.
Unrisked evaluation of 226p.


The wait continues....

Thargor

neil.p.b wrote: »

Unrisked evaluation of 226p.

Id be a millionaire from one share

Id probably be long gone before then though.

Jayminato

neil.p.b wrote: »

New broker report:

http://www.fox-davies.com/media/414996/rangecoverageupdate12sept2011.pdf

Risked target price of 24p.
Unrisked evaluation of 226p.


The wait continues....

Hi Neil
I had a read of the report and am unsure of what you mean by unrisked evaluation of 226p. I have been sitting on the fence here for months now thinking about lumping into Range. Have you guys lost faith in it??

J.

royaler83

Jayminato wrote: »

Hi Neil
I had a read of the report and am unsure of what you mean by unrisked evaluation of 226p. I have been sitting on the fence here for months now thinking about lumping into Range. Have you guys lost faith in it??

J.

If ya lose faith in an exploration small cap because the SP has dropped on macro economic sentiment instead of company fundamentals then ya shouldn't be investing in them.

To me unrisked is if all high estimates come to fruition, I'm sure someone else can explain it better

neil.p.b

Jayminato wrote: »

Hi Neil
I had a read of the report and am unsure of what you mean by unrisked evaluation of 226p. I have been sitting on the fence here for months now thinking about lumping into Range. Have you guys lost faith in it??

J.

As royaler said unrisked is basically the target price if there were to be 100% success in all assets. If you look at appendix 1 p12; you can see how they come to there risked and unrisked evaluations.

I haven't lossed any faith at all and have topped up at 12p, im actually sitting at a small loss on RRL atm. IMO there is very little potential downside at the minute and massive upside.

Jayminato

neil.p.b wrote: »

As royaler said unrisked is basically the target price if there were to be 100% success in all assets. If you look at appendix 1 p12; you can see how they come to there risked and unrisked evaluations.

I haven't lossed any faith at all and have topped up at 12p, im actually sitting at a small loss on RRL atm. IMO there is very little potential downside at the minute and massive upside.

Cheers Neil. I was thinking thats what it meant. Would be nice for that to happen eh. I had a nice 10 days in Tullow so might use some of that profit to buy RRL

Grecco

Looks like the price is stuck sub 12p, the price seems to be held down for now so were not going to get any rise.
So I`m thinking that the end of Sept isnt too far away and we should have the results from Georgia by then. Lets hope we strike oil or else the SP will melt

Dude240502

I'm sorry but Is RMP the stock to be involved with if Georgia & Puntland are successful and do you mind if I ask it to be explained, and does anyuone else expect it to multiply immediately if it is successful?

neil.p.b

Grecco wrote: »

Looks like the price is stuck sub 12p, the price seems to be held down for now so were not going to get any rise.
So I`m thinking that the end of Sept isnt too far away and we should have the results from Georgia by then. Lets hope we strike oil or else the SP will melt

Share is definitely being held down at the minute. There was close to half a million spoof sell orders on the book all day from 7.50 am to make the book look sell heavy, then right on close almost half a million spoof buy orders put on the buy side to even it out and an automatic trade to close at a day high. I'm hoping next week will see the start of some movement, i'd be very surprised if it was kept at this level until TD announcement.

Dude240502 wrote: »

I'm sorry but Is RMP the stock to be involved with if Georgia & Puntland are successful and do you mind if I ask it to be explained, and does anyuone else expect it to multiply immediately if it is successful?

RMP has 20% in both G & P, RRL has 40% G and 20% P.
RMP has just over 150 million shares in issue, while RRL is about 1.9 billion fully diluted.

They'll both rise on any strike, but how much depends on what they were before the strike. RMP will rise significantly more than RRL on a strike, but fall considerably more on a duster. RMPs current market cap is based purely on potential while RRLs is underpinned on current producing assets (Texas and T&T). RMP will also have to 1) secure a funding source and then 2) use it in the not too distant future leading to dilution (how much depends on whether Georgia comes in), while RRL is fully funded for current activities plus they just got a £30 million equity line for future needs.

It all depends on your risk factor. I think a lot of people in either hold both shares.

Seifer

What effects would a Greek default have on this stock?
It's not a European company so would that have any bearing on it?
Would any good news be completely squashed by a Greek default?

I guess no one is sure but I'd be interested in hearing what people think.

neil.p.b

Seifer wrote: »

What effects would a Greek default have on this stock?
It's not a European company so would that have any bearing on it?
Would any good news be completely squashed by a Greek default?

I guess no one is sure but I'd be interested in hearing what people think.

It's not going to target RRL specfically, but the whole market.

Topped up for the last time this morning. Bid was again supported at close yesterday, i think the floor has been set. Next 4 months are going to be something!! Results from 20 T&T shallow drills, 1 T&T herrara formation, 2 Gerogia drills and 1 Puntland drill.