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World Stocks

Range Resources

Sold

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

Sold

Post Sat Oct 27, 2018 5:22 am

Guys, I’m out. I sold on asx for 0.01.

I still have over 8k worth of credit card debt from range. That’s right, I withdrew cash on credit card to buy at 4c, that’s how sure I was Georgia had sold. What a life lesson it’s been here. I lost my life savings but I’ve learnt so much and unfortunately will never be the same trusting person I was before. So many lying scumbags from JR to Mrs T....Landau...in almost 7 years Range almost never surprised or delivered, it was just blunder after blunder and yet I held on and on and on in the belief that surely that was as bad as it was going to get. But somehow they found a way to make it worse every time. Genuinely gutted for myself and all genuine long term holders here. Best of luck with Range. Sadly I don’t think there is any chance they survive more than a year. I received the below from Eva. They have no drive, ambition or clue.

I understand how frustrating this is but yes, q3 19 is correct. As stated in the announcement, the expected completion schedule was revised to take into account the recently announced Petrotrin restructuring. To explain further, Petrotrin plays a major role in pre-approvals and on-site permitting of infrastructure upgrades. Prior to the restructuring, Petrotrin would carry out such work daily. However, the announced restructuring resulted in Petrotrin ceasing internal overtime work for their employees, including weekend work. These changes are therefore anticipated to result in delays in obtaining regulatory approvals required as part of the programme, and hence cause delay in our infrastructure upgrades.


With regards to RRDSL, we are continuing with marketing efforts and are hoping to secure further work. We will of course update all shareholders once we have some further developments on this.



Kind regards

Eva
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Razzledazzle
 
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Joined: May 2012

Re: Sold

Post Sat Oct 27, 2018 5:56 am

Razz

Genuinely sorry to see what you have been through. I hope you find comfort with your decision having sold.
Congratulations in standing up to that pretentious twat loadsamoney with all his ramping bullshit, though. What a sactimonius arsehole he was, at least he doesn’t peddle his poison on here anymore.
I bailed on this weeks rns as I agree with everything you have written, bopd is shocking especially when loadsa was saying 8 months it was 1000 bopd and going higher....
QANTAS
 
Posts: 21
Joined: Aug 2018

Re: Sold

Post Sat Oct 27, 2018 10:13 am

Best of luck Razz. Hope you recoup your losses elsewhere. A lot of us were caught out by the lies not only from the board but shareholders who posted on here backing them
Martini069
 
Posts: 60
Joined: Sep 2018

Re: Sold

Post Sat Oct 27, 2018 10:48 am

Good Luck Raz
Range has been crooked and a scam from the RUM and JR days. WS was set up to carry on the fraud. Now the game is almost over I'm amazed someone is still paying to keep this website open. It has served it's purpose very well
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miniboy
 
Posts: 4184
Joined: Mar 2012

Re: Sold

Post Sat Oct 27, 2018 10:59 am

Sorry to hear your woes Razz & it is a salutary lesson for anyone contemplating investing in the Stock Market, especially in AIM or any such speculative stocks.
For there to be a winner (people such as Liardough), there have to be `mug punters` (yes, i include myself & almost all the other mug punters on here & not only Razz), who are losers in the international game of the transfer of wealth from the unwary to the knowledgeable few!!!!
There is no difference between Razz`s story & the gambling addict who goes into debt to fund his roulette habit, knowing all along that the house always wins in the end, though always hoping against hope that he will buck that trend!!!!!!!
Good luck to you & it must be galling knowing you have to pay off that debt, while sh1ts like Liardough will probably get off with no major penalty & be happy spending your money for the rest of their days - life`s a b**** eh!!!!!!!
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enfranglais
 
Posts: 733
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Re: Sold

Post Sat Oct 27, 2018 12:42 pm

It probably is for the best if website was closed down
Martini069
 
Posts: 60
Joined: Sep 2018

Re: Sold

Post Sat Oct 27, 2018 1:21 pm

Sorry to hear how this has affected you Razz - it’s been little more than a ponzi and being my first AIM share definitely taught me some valuable lessons that have made me a shrewder investor.

What has happened here at times has been borderline criminal and I hope that people get their cummupence in life as I know the authorities can’t touch them.

Again fella - sorry. If of marginal consolation, hopefully it’s cathartic to eventually let go. Be kind to yourself and take care.

Tom.
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fatJock
 
Posts: 2513
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Location: Northants, UK

Re: Sold

Post Sat Oct 27, 2018 7:28 pm

Good luck for the future Raz.
Agree with the sentiments above, still holding
Not sure who else is now?
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Momo
 
Posts: 4496
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Location: Relax nothing yet...

Re: Sold

Post Sat Oct 27, 2018 7:55 pm

Momo wrote:
> Good luck for the future Raz.
> Agree with the sentiments above, still holding
> Not sure who else is now?

I'll keep you company Momo. The money I invested years ago is now measured in hundreds and since I have already written it off I'm just going to let it ride and see what comes along. I'm sure that there are forces at work in the background and only time will tell if the forces are good or worse!
Nedkellylandau
 
Posts: 1990
Joined: Mar 2013
Location: Lost on the Range

Re: Sold

Post Sat Oct 27, 2018 10:25 pm

Best of luck Raz. Genuinely sorry to hear of your situation.

I’m like you, many thousands down but thankfully not In debt over it.

I should have sold out many times but always believed the tide had turned only to see it fall away again. My holding is at best worth a few thousand now, so I’m going to just let it ride and if a miracle happens then great, if not then it’s a lesson learned.

Hoping a few other investments will make up for it.

I hope your luck turns, you’ve had enough grief with this turd. But I think actually for your own mental health it’s probably best thing you did and will in time feel like a massive weight lifted. It’s been obvious it’s been consuming you lately and so finally you can Lance this boil and move on, yes a little bitter and sore but will recover. Don’t look back, move on and do something positive. For what it’s worth. I can’t ,speak for other people but Mrs T was genuine in what she was saying and believe at the time. I know from speaking with her personally she knows she was duped too and too a significant financial hit. Many believed in range. Sadly most only got burnt.

Fubs
FUBAR@Birth
 
Posts: 951
Joined: Mar 2012

Re: Sold

Post Sun Oct 28, 2018 5:43 am

Thanks guys. Appreciate the kind words and you're right about the gambling addict - that was me in essence with this share.

If it's any consolation to those still holding this will go back to 2p next week now I've sold :)-
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Razzledazzle
 
Posts: 2253
Joined: May 2012

Re: Sold

Post Sun Oct 28, 2018 9:52 am

I am sure there are a lot in the same boat
Martini069
 
Posts: 60
Joined: Sep 2018

Re: Sold

Post Wed Oct 31, 2018 7:48 pm

I am really sorry to hear all that Razz. I can relate to virtually all that you say and certainly feel your pain and frustration.
'Hindsight and how to get it' - a book that has never been written. We all know that this was a real gamble but few, if any of us, could surely imagined that the whole thing would sink to the current depths. Even as recently as the summer of 2014 when Rory was 'in charge', things were looking okish and I was actually in profit and debating at Oil Barrel whether to offload about half and let the rest ride.
Like many, I allowed greed to take over and just held. What a decision that was!

Anyway, I'm just going to sit tight and let things, whatever they turn out to be, happen.

As it's Halloween maybe there is some malevolent Chinese wizard out there who will come flying to rescue us poor (very poor in my case) souls from the madness. Not optimistic.....

Regards to all,

Bob
Buckz
 
Posts: 195
Joined: Mar 2012

Re: Sold

Post Thu Nov 01, 2018 12:22 am

Buckz wrote:
> I am really sorry to hear all that Razz. I can relate to virtually all that
> you say and certainly feel your pain and frustration.
> 'Hindsight and how to get it' - a book that has never been written. We all
> know that this was a real gamble but few, if any of us, could surely
> imagined that the whole thing would sink to the current depths. Even as
> recently as the summer of 2014 when Rory was 'in charge', things were
> looking okish and I was actually in profit and debating at Oil Barrel
> whether to offload about half and let the rest ride.
> Like many, I allowed greed to take over and just held. What a decision that
> was!
>
> Anyway, I'm just going to sit tight and let things, whatever they turn out
> to be, happen.
>
> As it's Halloween maybe there is some benevolent Chinese wizard out there
> who will come flying to rescue us poor (very poor in my case) souls from
> the madness. Not optimistic.....
>
> Regards to all,
>
> Bob
Buckz
 
Posts: 195
Joined: Mar 2012

Re: Sold

Post Thu Nov 01, 2018 12:25 am

Ooops I meant benevolent - but maybe I was right first time?.....
Buckz
 
Posts: 195
Joined: Mar 2012

Re: Sold

Post Thu Nov 01, 2018 12:35 pm

Sorry to see you go Raz , but like you I made the decision to exit Range early this year when I just couldn't look beyond the utter failures to raise production and the goalposts moving on the 1k BOPD every time

The feeling is probably still raw for you now , which is how I felt , but in coming days you will feel relieved and a mountain of frustration/stress no longer something that annoys you on daily basis

I wish the best of luck to the "Remainers" here....but I cant help but think more of them will join us "Rexiteers" in coming days/weeks.

As per fundamentals , Range has 80mil debt - 60mil of which payable in April 2020 and with 500+bopd , there is no way they will be able to finance that debt....possibly LO will extend this , but if you look at what happened to Anterra Resources , I think you can all guess what will happen next...Range declares insolvency so they can drastically reduce the debt levels and resurface.

If RAnge could replicate the debt refinance that Trinity did , then there is hope yet...but I cannot compare the competence levels of Range to Trinity board and thus the writing is on the wall.

Gl to everyone on whatever is next
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Invester_Tester
 
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