Range Res. ist Produzent und keiner hats gemerkt

Posted today on LSE - poster DOGPOG

RRL Valuation today - 14/11/2010

With NCR P1+P2 PW10 now valued at US$106m, that gives NAV of 6.5p/share.

Add in TT 70bopd net current production, 0.55p/share NAV.

Add ECV P1+P2 PW10 valued at US$9.8m, 0.6p/share NAV.

Georgia 2008 assessment $102.5m net to Range, 6.35p/share NAV.

Puntland NAV is US$80m (based on accounts), 5p/share NAV.

This gives NAV/share, **based on current production and confirmed values** of 19p/share.

Ignore Georgia and Puntland and that becomes 7.65p/share!!!!

WE ARE STILL UNDERVALUED ON NAV FOR PRODUCING RESERVES.....

All costs based on fully diluted share issue 1.612404323bn.

What news is imminent?

Simply? Seismic on Georgia blocks accounting for 10% of Georgia's land mass.

There are oil seeps across our licences and previous soviet wells have been oil discoveries.

RPS Energy have analysed 3D seismic of our most prospective areas and the market will be updated this week.

The market expects 80mmbls recoverable net to Range.... Rumour has it that this figure is conservative to say the least.

Currently very little of the Georgia prospect is even factored in the RRL's MCAP....

Upside?

Assumptions:

GB£1=US$1.55

$79/bbl Brent Oil Price

$4.00/scf

1,612,404,323 shares fully diluted

Puntland

20% share, free carried for first $25m spend on first drill

Initial target Marood-1 now identified, multiple further targets

Estimated OIP for Dharoor – 3.62bn bbls

Conservative target 400mmbbls

NAV of 400mmbbls at $5 sell-on value ($1 net to RRL for 20% share) is $400m net (£258m) equiv to 16p per share fully diluted (4p per 100mmbbls recoverable)

Timescales – 6 month drill each approx, further appraisal drills may be quicker as complications of geology are established. First drill estimate Q1/Q2 2011.

Nugal is the additional block, arguable more prospective given the Conoco data interpretation, but partly on land with disputed rights between Puntland & Somaliland – higher risk.



Georgia

Independent analyst valuation 2008 of $205m ($102.5m net to RRL)

Estimated reserves in place of 383mmbbls plus 2400bcf gas (2400 billion cubic feet)

PSA is 35% of profits shared by RRL and Strait O&G (Georgia Gov. take 65% profit net of costs)

Est profit: $79/bbl less (approx) $25 F&D costs; $54*0.35 = $19/bbl

Initial drill target – 80mmbbls (not accounting for gas), multiple further targets

If successful, and intend to produce, then estimated value at approx $19/bbl profit for 80mmbbls is $1.51bn ($755m net to RRL), £488m, equiv to 30p per share fully diluted (3.75p per 10mmbbls recoverable)

Timescale – 4-6 months to drill 3 more appraisal wells to prove up P1/P90. First drill estimate Q4 2010.

Potential buyout - 100% working interest – would mean NAV of 7.5p per share per 10mmbbls recoverable

Working interest in two blocks, multiple targets

Texas

NCR

25% share of Smith#1, 20% of RB#1 and subsequent (est. 20 wells)

Smith#1

Producing 320boepd, 4mmcf/day

Estimate profit $35/bbl, $1.5/scf gives revenue of $4.1m (oe) + $2.19m (gas)

Total $6.29m / £4.058m pa

EPS of 0.25p or equiv to SP of 2.5p/share

Say Smith#1 indicative of average, so across 20 wells potential for SP value of 50p fully diluted.

(Conservative given restricted flow on Smith#1)

Timescale @ 3-4wells pa – 5-6 years until full value reached (approx 7.5-10p per year increase)

ECV

13.56% share

Potential for 22 wells with 220,000 bbls each

F&D costs $7.15/bbl, profit $70+/bbl

Estimate average 500bopd gives profit $1.732m pa net to RRL (£1.117m)

EPS of 0.0693p per well, or equiv to SP of 0.7p/share

22 wells – future SP value 15.2p

Timescale @ 3-4 wells pa – 6-7 year until full value reached (approx 2-3p per year increase)

http://www.investegate.co.uk/Article.aspx?id=20101008080834P8E2D


Trinidad & Tobago

10% working interest in three fields – Morne Diablo, Bea  

Trinidad & Tobago

10% working interest in three fields – Morne Diablo, Beach Marcelle and South Quarry

Fully funded for future improvements, fully equipped drilling and production facilities

Additional prospective resources in drilling deep formations – 19.9mmbbls

Currently producing 700bopd (70bopd net to RRL), $0.767m profit pa, EPS 0.05p, SP support at 0.5p

Future management of wells to increase production to 3500bopd (350bopd net to RRL), $3.8m profit pa, EPS 0.24, SP support at 2.4p

Ultimate goal of 10000bopd (1000bopd net to RRL), $11m profit pa, EPS 0.7p, SP support at 7p

Timescales – 36 month target for 3500bopd (may be accelerated), 1000bopd/year increase


Conclusions / notional SP targets:

6 months – Puntland 6p; Georgia 15p; NCR 7.5p; ECV 1.4p; TT 0.5p = Total 30.4p

12 months – Puntland 16p; Georgia 30p; NCR 12.5p; ECV 2.8p; TT 1p = Total 62.3p

24 months - Puntland 32p; Georgia 60p; NCR 20p; ECV 6.5p; TT 2.5p = Total 121p

So thanks to Dogpog !  

18th November 2010
9.30 am - 1.30 pm

The Brewery, Chiswell Street, London EC1Y 4SD

Presenting Companies include:

• Xstate Resources
• Aminex
• Range Resources

Coffee Break

• Northern Petroleum
• Wessex Exploration
• Providence Resources

Please note that this is the presenting order.

http://www.oilbarrel.com/oilbarrel_forums.html

...wenn das Management dann heute Nacht,oder spätestens morgen früh mit der News rausrückt...  

Sie sind clever...

Na, wenn das mal keine netten Neuigkeiten sind!!!

http://www.asx.com.au/asxpdf/20101118/pdf/31tyyx8mzrnj4w.pdf  

4,17% an der ASX - hey, das können die London-Boys bestimmt besser !!!

Bin durch dein unermüdliches "geklingle" erst auf Range aufmerksam geworden ! 

So ein Tag, so wunderschön wie heute.... c(:

Guten Morgen ihr müden Krieger ! ;-)
Was sehen meine verschlafenen Augen...?
18 Minuten gehandelt...27 Millionen Shares umgesetzt.
Kurs flippt zwischen 8 und 9p hin und her.
Hoch war bereits bei 11p!
Es scheint so, als wenn das Management eine neue Gesinnung hat.
Vor der News war diesmal nicht der übliche Insiderhandel zu erkennen!
Die MMs sind diesmal machtlos.
Man könnte vermuten, dass sie ihre shorts auflösen mussten...
Geschieht ihnen recht...wie lange mussten wir uns deren Spielchen gefallen lassen.
Soetwas habe ich noch nie gesehen...7.5-9-8.5-7.525-8.5...der Kurs springt im Dreieck.
Sollten 8p gehalten werden können, dann eröffnen wir in AUS bei 13c.
Und dann müssen sich die MMs erst mal wieder eindecken.
Verdammt, die haben keine shares mehr!!!???
Die Optionen wären dann bei 8c!!!  :D:D:D
+50% wären das. Inklusive gestern sogar +70%.
P.S.: aktuell 37m gehandelt, Kurs bei 8.27p  

http://www.shareprice.co.uk/RRL/RANGE-RESOURCES-LD

Registrieren und Realtimekurse ansehen...  

...gerne...Ist Zufall, bin ja nur ein Pusher, uuuuaaahhhhh !!! ;-))))

Kurs "schwächelt"....7.5-7.7p, 50m gehandelt in 41 Minuten!!!  

Einige Stimmmen einiger Personen, welche live vor Ort waren:
--------------------------------------------------
* Puntland - not much new here. Point on security "take heart from the fact that seismics went without a hitch and these mobile units are much harder to secure than a static well site around which you can erect a perimeter"

* Texas - pressures are dropping a bit (+/-80bopd at RB#1 & 80bopd at Smith) but frac team will soon visit RB#1 and Smith#1 in turn with the aim of increasing to around 350 bopd on each
- Quality of gas coming out is particularly rich and fetched avg of $7.00-7.20 per unit (vs normal gas which goes for about $4) plus crude is good light, sweet which sells at a small discount to WTI
- 3rd well (Albrecht #1) due to spud Q1-11
- 3-4 wells planned for 2011

* ETCV - nothing much new first well due to spud Dec 10

* Georgia - we've all seen the results from this, nothing much to add beyond mobilisation due Q1-11

* Trinidad - mentioned that Monitor are still in suspension and once they have completed their fundraising the Trinidad program will get underway within 30 days
--------------------------------------------------

Were on. Anthony Eastman. Like PL he's about 13!

Passed year seen signify shift to AIM. Aim is 95% of shares traded per day. Great liquidity, ESP today! Getting towards 70% of value on aim.

Could join main mkt, have been contacted by lse.

Rrl known for punt land. Acquired 2006, all mineral rights relinquished, retained HC. Farmed out to Africa oil.

No one has questioned the geology to have HCs.

Offshore rights exciting.

Onshore we introd red emperor. Recently increased their holding.

How secure drill site? Seismic went fine, moving target harder to secure. Drill site will be fine, secure perimeter.

Very brief on puntland

Tx. From ex to production.
Spud of third well next quarter.
Expected 25-30 wells total.

Only producing from 4th pay zone.
350 bopd once fract team in.

Recent report increase 67%.
Stability of tx with production plus upside of puntland and Georgia

$7 a barrel, sweet light crude. Good price!

East cotton valley. 2 wells targeting each 200,000 bbls. Horizontal.

Georgia.
50%. RPS results this am.
Look to farm out keeping 20%, strait 40%

Initial 68 zones, 2 bn bbls. 600 million recoverable.
Priority 6 ready to drill equal 720 million barrels.


Oil and gas shows from oil soviet wells across region.

Trinidad.
Target increase to 4000 bopd. Within 36 months
To begin within 30 days once go ahead.

Trin world class oil country. 3 billion bopd. Straight to local refinery, decent price.

Conclusion.
Upcoming upside.
3rd well in tx.
Africa oil spud in q2 2011 in puntland.
Further news on Georgia.

Anthony is moving to uk in the new year.
That's it, no questions.

Apologies, farm in for 20% leaving range with 40.

My bad!

--------------------------------------------------  

lauter Automatic Trades...  

Proactive-Investors:

Analyst expects Range Resources to drill new Georgian oil targets in Q1 2011

Thursday, November 18, 2010 by Jamie Ashcroft


Range Resources (LON:RRL, ASX:RRS) shares shot up 30 percent in early trading, after the group revealed it has six priority drill targets in Georgia.
The targets have an estimated 728 million barrels of oil-in-place.

The Georgian assets are being explored by a 50-50 joint venture between Range and privately-held British firm Strait Oil & Gas. The partners hired RPS Energy to review seismic data from its two onshore blocks - VIa and VIb - in the Republic of Georgia.

RPS prioritised the top six structures for drilling, and four of them have more than 100 million barrels of oil in place. Range said the partners are currently finalising the details of a planned drilling campaign.

Barney Gray, oil analyst at Old Park Lane Capital, expects a drilling rig will be mobilised to Georgia early in the New Year.

“We expect that Range will probe the first of these targets; likely to be Kursebi-1, with an exploration well in mid-Q1 next year,” Grey said in a note to clients.
Grey also noted that Range may look for a contributing farm-in partner to help fund exploration stage.

Currently, the analyst believes the company’s 50 percent stake in the newly identified Georgian prospects could be worth US$75 million - a fully risked valuation - which equates to almost 3 pence per share.

Grey added: “we believe that the shares will rally strongly on the back of a raft of exciting operational updates over the next six months”.

In light of the new prospects the analyst reviewed his valuation for the company.

And with a particularly conservative 1-in-12 chance of success in Georgia, as well as assuming a value of just $5.85 per discovered barrel, Grey still gave an attractive preliminary valuation to the untested acreage.

“We are increasing our valuation of Range from 12.5p to 14.1p per fully diluted share to reflect the value of the company’s Georgian assets for the first time,” Grey said.

“Within our assessment, we have pared down our valuation of Range’s Puntland assets given that mobilisation is likely to slip to mid-2011.”

“Nevertheless, we believe that exploration success in Georgia will provide investors with a very attractive degree of near term upside.”

By mid-afternoon on Thursday, Range shares had climbed 1.2 pence to 7.41 pence on London’s AIM market, up 19.5 percent from Wednesday’s close.
In total RPS identified 68 ‘structural culminations’ that potentially contain stacked oil reservoirs.

The consultant estimated that the blocks have just over 2 billion barrels of un-risked oil-in-place. It also gave a conservative estimate that 30 percent of the oil is recoverable.

RPS prioritised the top six structures for drilling, and of them four have more than 100 million barrels of oil in place. Range said the partners are currently finalising the details of a planned drilling campaign.

Vani 1 (V1) has an estimated 171 million barrels of oil, Kursebi 2 (K2) has 160 million barrels, Vani 3 (V3) has 145 million barrels and Kursebi 1 (K1) has 123 million barrels.

According to Range, Georgia is a relatively well established hydrocarbon province.

It highlighted that there are a number of discoveries along the Greater Caucasus and Achara-Trialet frontal folds – which are also present along the northern and southern margins of the licenses.

“The trend of oil discoveries in Georgia confirms the presence of a working hydrocarbon system that extends from Georgia into the Black Sea”, Range said.
Range also has assets in the Puntland region of Somalia and in Texas.


Full article (600 words):-
http://www.proactiveinvestors.co.uk/companies/...-q1-2011--23157.html  

Denk ich an Range Res. in der Nacht - dann bin ich um den Schlaf gebracht.

Ich kann nicht mehr die Augen schließen und meine heißen Tränen fließen...

"...I have waken up now and i see Range is nothing more than a pump and dump story....So its a really silly stock here. Sold most of my Range-invest, because i dont want to invest my hard earned cash in a company that makes it possible to get all the rats on board before news will be announced everytime...and when it is announced, the sp will punched down everytime. Dont tell me anything..."

Was interessiert mich mein Geschwätz von gestern oder eher Jammern auf hohem Niveau ?

 

Die Optionen RRSO habe ich in den letzten Tagen, vor allem gestern ca. zur Hälfte veräussert. Ich halte immer noch 750k, hab meinen Einsatz somit raus und einen sehr fetten Ertrag zusätzlich. Ich überlasse das Teil jetzt den Engländern. Ich habe einfach keine Lust mehr auf die MM-Spielchen an der AIM und diese Kindergarten-Nummer im III. Mal faktisch gesehen: jedesmal, wenn bei Range eine vielversprechende, langersehnte News rauskommt, wird das Teil kurz hochgezockt und danach wieder runtergeprügelt. Kein Wunder...Verspätungs und Dillutionweltmeister Peter Landau ist ja geradezu ein Majestro zum Thema...wie lasse ich jedesmal vor einer erwarteten News die Ratten an Board... Es gibt weitaus seriösere Werte, wo man weiß, woran man ist. Range war immer eine Wundertüte. Versteht mich nicht falsch...das Potential hier ist riesengroß!
Ich fühle mich so einfach besser und kann mir die ganze Entwicklung wesentlich entspannter anschauen. Ich hatte halt zum richtigen Zeitpunkt, als kein Mensch mehr an RRS geglaubt hat, Anfang Dezember 2009, zu kaufen und anschliessend das Glück, den Hebel mit den Optionen zu entdecken.
Sollte Range es wirklich schaffen, Georgien zu explorieren und gleichzeitig Trinidad und Texas am laufen halten, bzw. auszubauen, dann winken hier kräftige Gewinne. Nächstes Jahr muss ich mich eh entscheiden, da die Optionen Ende des Jahres auslaufen. Mich würds nicht groß wundern, wenn bis dahin in Puntland und Georgien immer noch nichts handfestes vorzuweisen ist. In Sachen Puntland merkte man auch ganz gut, welchen Stellenwert RRS bei AfricaOil hat. AOI hat Range voll auflaufen lassen. Man konnte gut erkennenn, dass AOI Range gar nicht richtig ernst nimmt. Mit Recht muss ich mir mittlerweile eingestehen. Ich hab einfach die Nase voll von den vom Management zu großen geschürten Erwartungen, den andauernden Unzuverlässigkeiten und den Verarscher-Spielchen der Londner MMs. Sehr wahrscheinlich werde ich nie wieder in einen Wert investieren, der den Großteil der Aktien an der AIM hält. Wo gibts denn sowas noch auf der Welt, wo die Kursstellung alleine den MMs unterliegt. Das sind Raubritter-Methoden wie aus dem Mittelalter. Die Briten eben ;-)

Dies soll Euch nicht den Mut nehmen...
Ich bin in den letzten Monaten einfach mehr und mehr zu der Erkenntnis gelangt, dass es besser ist, in ein zuverlässiges Management und guter Shareholder-Struktur zu investieren, als in großen Hoffnungen. Dies habe ich vor allem einem guten Freund zu verdanken... (ich kann Euch nur den Tipp geben, sich mal ab und zu von jemand anderem, der es gut mit einem meint, die Meinung über Dein Anlageverhalten, bzw. Deine Investments einzuholen...bzw. sich auch mal ordentlich die Leviten lesen zu lassen...wenn es sein muss ;-). Man ist ja oft geneigt, seine Anlage-Entscheidungen teilweise bis aufs Blut zu verteidigen. Da macht es Sinn, dies auch mal von objektiver Seite analysieren zu lassen. Also vielen Dank, an dieser Stelle...)  

http://www.asx.com.au/asxpdf/20101129/pdf/31v6tyg84h7731.pdf

COMMENCEMENT OF ACTIVITIES IN GEORGIA!

Highlights!

- Range/Strait commence unique and proven “helium” survey on 3 top drilling locations in Georgia!

- Proven technology used successfully  (over 50 completed projects) by  the majority of  the Russian Major E&P Companies!

- Survey compliments seismic and historical data and greatly  improves  the chances of
Success with regards to a discovery with the first 2 wells!

- Immediate mobilization into Georgia (20 day work program) with results mid January allowing for rig mobilization in February 2011!


Range Resources  Limited  (“Range”  or  “the  Company”) is  pleased  to  announce  that  it  has  engaged international  geochemical company,  Actual  Geology  International  Limited  (“AGI”)  to  carry  out  a “helium” survey on the 3 top multi stacked prospects as identified by RPS Energy which have in excess  of 450 mmbbls in place as previously announced.  

Range Resources to start 'helium' surveys at Republic of Georgia oil prospects

Monday, November 29, 2010


Range Resources (LON:RRL, ASX: RRS) has engaged international geochemical company Actual Geology International Limited (AGI) to carry out a “helium” survey on the 3 top multi-stacked prospects in the Republic of Georgia, to improve the chances of discovery success.

The locations were identified by RPS Energy and have in excess of 450 million barrels of oil in place. The proven technology has been used successfully at over 50 completed projects by the majority of the Russian major exploration and production companies.

The survey complements seismic and historical data and greatly improves the chances of success of discovery with the first 2 wells. Rigs have been immediately mobilised into Georgia for a 20 day work program with results in mid January allowing for rig mobilisation in February 2011.

AGI have been given the co-ordinates of three of the six identified “ready to drill’ prospects and will commence mobilisation of its team into Georgia in the coming days, ready to commence field operations early December.

AGI’s field work will take approximately 3-4 weeks to complete and another 3 weeks to complete the laboratory analysis and results.

The survey will be a “blind test” where AGI will shoot the survey without any prior seismic info on the co-ordinates provided by Range/Strait. After the survey and results are compiled by AGI they are integrated with the existing seismic results to produce the best possible target locations to be drilled.

Given the successful results that the geochemical technology has demonstrated, the company believes that, for the cost of approximately 3% of the current proposed budget for drilling 2 wells, the survey will significantly increase the probabilities in ensuring that the 2 well drill program is successful.

In the Republic of Georgia, Range holds a 50% farm-in interest in onshore blocks VIa and VIb, covering approximately 7,000 square kilometres. Currently, Range has recently completed a 410 kilometre 2D seismic program with independent consultants RPS Energy identifying 68 potential structures containing and estimated 2.045 billion barrels of oil-in-place.

Georgia is a reasonably well established hydrocarbon producing province with a number of discoveries and seeps along the Greater Caucasus and Achara-Trialet frontal folds, which are present along the northern and southern margins of the two licenses, where there are numerous oil and gas seeps.

The trend of oil discoveries in Georgia confirms the presence of a working hydrocarbon system that extends from Georgia into the Black Sea.

http://www.proactiveinvestors.co.uk/companies/...prospects-23423.html  

heute, 11:54 EMERGING MARKETS INVESTOR
Range Resources will 728 Mio. Barrel Öl nachweisen

Endingen (aktiencheck.de AG) - Für die Experten von EMI ist die Aktie von Range Resources (ISIN AU000000RRS3/ WKN 874152) ein explosiver Geheimtipp mit Vervielfachungspotenzial.

Der Titel habe zuletzt von 2 auf 6 GBp zugelegt. Damit scheine der Markt die Chancen als gut anzusehen, dass es dem Management von Range Resources gelinge, die avisierten 728 Mio. Barrel an förderbarem Öl nachzuweisen. Wäre dies tatsächlich der Fall, ergäbe sich daraus ein Marktwert von 50 Mrd. USD.

Die Analysten von Old Park Lane Capital hätten erst in der letzten Woche ihr Kursziel von 12,5 auf 14,1 GBp für den Titel erhöht.

Darüber hinaus verfüge Range Resources über ein ausgezeichntes Management unter der Führung von Sir Sam Jonah. Dieser sei der ehemalige Präsident von Anglo Gold Ashanti (ISIN ZAE000043485/ WKN 164180) und der ehemalige Berater der Präsidenten von Ghana, Südafrika und Nigeria.

Damit ist für die Experten von "Emerging Markets Investor" Range Resources ein exklusiver und explosiver Geheimtipp mit Vervielfachungspotenzial. (Ausgabe 23 vom 29.11.2010) (29.11.2010/ac/a/a)

http://news.onvista.de/alle-news/artikel/...hweisen?ID_NEWS=168195082  

http://rangeresources.com.au/fileadmin/...ch_Reports/RRL_18-11-10.pdf  

Nikolaus war da ;)))

http://www.edisoninvestmentresearch.co.uk/...ts/range061210update.pdf

Heute neuer Edison Research-Report:

Zitat:
Range Resources is a key junior E&P success story - Edison
Monday, December 06, 2010 by Jamie Ashcroft

Range Resources (LON:RRL, ASX:RRS) has been one of the key junior exploration and production (E&P) success stories of 2010, according to Edison Investment Research analyst Peter Dupont.

The analyst noted that the company’s ‘savvy investments’ have given it production and development assets in Texas and Trinidad, as well as an exploration play in the Republic of Georgia.

“We believe the potential for further positive newsflow in the coming months is excellent, reflecting the active exploration and development programme,” Dupont said.

“The current share price is largely underpinned by the Texas and Trinidad producing assets.”

Furthermore Dupont highlights that the company’s interests in Puntland, Somalia, continue to offer interesting frontier exposure. Drilling is slated for Q3 2011 in Puntland.

Meanwhile drilling will test its newly identified targets in Georgia in Q1 2011.

“Using a sum of the parts approach, we believe Range can support a current valuation of £137m or 11.5 per share,” Dupont said.

“This is based on the risked resource potential for each project and prices per barrel of oil equivalent for comparable situations,

He adds: “In the event of commercial discoveries in Georgia and Puntland there would be scope for major valuation upside from 11.5 per share.”



http://www.edisoninvestmentresearch.....rts/range061210update.pdf  

Wenns so weiter geht....;-)  

The 12 Tips of Christmas - Part 2

From UK-Analyst.com

Over the Christmas period UK-Analyst brings together 12 of the UK's foremost investment experts to give their top t1ps for 2011. In part two we present...

Buy Range Resources at 7.125p says James Faulkner of WatsHot.com

Range Resources (RRL) - Take a punt on Puntland

Being the editor of WatsHot.com I am prone to taking a punt on some of the more exotic plays on the market. Although shares in Range Resources have risen by more than 100% since I first tipped them back in January 2010, I believe they still look great value and they might - just might - yield some big surprises for investors in 2011.

Underwriting the investment case is a strong and growing production business, which it has put together through some savvy deal-making. Range holds a 25% interest in the initial Smith #1 well and 20% interest in further wells on the North Chapman Ranch project, Texas. The project area encompasses approximately 1,680 acres in one of the most prolific oil and gas producing trends in the State of Texas. Drilling of the first well has resulted in a commercial discovery with independently assessed gross recoverable reserves in place of 240 billion cubic feet of natural gas, 18 million barrels of oil and 17 million barrels of natural gas liquids. Range added to its acreage in Texas in June through the purchase of a 13.56% leasehold interest in 1,570 acres encompassing a recent oil discovery in Red River County, for $0.254 million. An independent report later that month estimated total gross commercially recove rable Reserves (1P, 2P and 3P) at 5.4 million barrels of oil (attributable to Range - 0.7 million barrels), with Range's interest valued on a discounted cash flow basis (using a 10% discount rate) at $18 million. In July the company followed up with the acquisition of a 10% interest in producing fields in Trinidad, where it believes it can quickly ramp up production to 3,500 barrels of oil per day from the current rate of 700 barrels of oil per day. Upcoming newsflow for 2011 includes fracture stimulating of the Russell Bevly well and a 3-4 well drilling programme on North Chapman, as well as the commencement of production ramp-up in Trinidad.

Whilst the production business provides the backbone of the valuation, it is the exploration side that could really set things alight in 2011. The firm has a 20% stake in the Nogal Basin and Darin Basin Blocks in Puntland, Somalia. Just one of the two blocks is purported to contain between 2.2 billion and 10.4 billion boe (barrels of oil equivalent), and there is every reason to believe the other basin offers similar prospects. Range was recently given the go-ahead by the Puntland administration, with the drilling of the first exploration well by its farm-in partner Africa Oil scheduled before the end of Q2 2011. Notably, Range is free carried until Africa Oil has spent the $50 million earmarked for exploration. Even modest drilling success in Puntland could see Range shares rocket. Further upside potential rests with its acreage in the Republic of Georgia, where seismic results produced a prospective es timate of total oil-in-place of 2.05 billion barrels (1.025 billion barrels attributable to Range), across 68 individual structures. Rig mobilisation is due in February. With plenty to look forward to in the New Year, the shares rate a speculative buy, at 7.125p.

UK-Analyst: Tip of the Day 3.52PM  

...keine Ahnung...sieht nach bevorstehenden NEWS aus...  

Hallo liebe Ölbarone der Zukunft...

in London knabbert man fleissig an der 8p-Marke herum.
momentan Pari 12AUDcent. Nach meinen Beobachtungen müsste der Londonwert aber eher Richtung 12,5AUDcent gehen, damit wir morgen einen Schlusskurs von 12c sehen.
Das wäre super, denn am 3. hat die Börse in Australien zu und Range kann weiter steigen.
So langsam muss Range aber was abliefern, sonst läufts wieder abwärts.

Trinidad:
ein Wunsch von mir wäre es, wenn Range seine 10%ige Teilhaberschaft an diesem vielversprechenden Schnäppchen deutlich ausbauen könnte. Sagen wir 40%-60%.
MHL bekommt es ja nicht auf die Kette. Sie schreiben zwar, dass alles in trockenen Tüchern ist und nur noch die Dokumente fertig gestellt werden, jedoch dauert es einfach zu lange.
Kann gut sein, dass Range damals nur 10% genommen hat (Range hatte dieses Projekt endeckt und die Verhandlungen eingeleitet), da man sich zu dieser Zeit noch sicher war, dass in Puntland gedrillt wird und man dafür Cash aufbewahren wollte. Nun, die Situation hat sich geändert...

Georgien:
hier wartet man sehnlichst auf genauere Details zum Vorkommen und zur weiteren Vorgehensweise...Vor allem aber auf einen Partner für das Georgien-Projekt, der mit 20% einsteigt.

Eher ein Wunsch von mir, dass der ganze Kursschub von Insidern verursacht wird, welche entweder aus der MHL-Ecke kommen, und wissen, dass Range wesentlich größere Position an Trinidad bekommt....oder aber von den Insidern verursacht wird, welche über einen Partner des Georgien-Projekts Bescheid wissen...