Half year

[Adept]

https://www.asx.com.au/asxpdf/20190318/ ... bd9g3z.pdf

[Adept]

Debt pushed out to 2022!!!!!

[FUBAR@Birth]

Not only that !

Another RNS out and we are now officially in a trading halt pending announcement of debt restructuring and a NEW ASSET ACQUISITION!

https://www.asx.com.au/asxpdf/20190318/ ... wtp0v1.pdf

Holy shit here we go again........ roll the dice, let’s see what we get this time


It better have nothing to do with that C*** Bandy at RMP!!!

[rasclaat bambaclaat]

Fubs

P.11

US$19.7 million of Non-Current Borrowings will be repaid through an issue of new shares in the Company to LandOcean at a price equal to the preceding 90-day VWAP;

They forgot to mention this on the headline page

[FUBAR@Birth]

Rasc

Tbh I never read the whole half year report as I have kinda given up on Range so lost interest pretty much in wading through pages and pages. But isn’t that the shares that were just voted through so we knew they were coming anyway. Unless this is even more shares to be issued.

That said I dread to think what this new refinance deal is! How much more in way of shares or blood can we give LO or someone else to kick this down the road to 2022.

This better be some amazing asset to offset another billion gazillion shares being issued

Fubs

[rasclaat bambaclaat]

Fubs,

I think the shares that were just voted through were mentioned in the paragraph above:

Issue of equity
Following approval at the General Meeting held on 5 March 2019, the Company issued 1,739,076,923 new ordinary fully paid shares at A$0.0013 in lieu of annual interest payment of US$1.6 million under the convertible note with LandOcean.

So, I think they are new.

I stand to be corrected....

Best wishes

[FUBAR@Birth]

Looks like your right rasc

So this must be what the trading halts about.

But appears tied to an asset acquisition as well. So either this is going to somehow change our fortunes or we are being forced to buy a heap of crap that’s somehow connected to LO and allowing them to get their money back via us and then we will end up folding in time anyway and they get the assets.

I think I know which ones likely ............

[Diamond Don]

49% stake in a Chinese Kindergarten.......

Well, I certainly never saw that coming!

[kemp91]

i am just here for the shits and giggles, my currently holding is worth about £167. I am pleased to hear that we are changing into a primary school in china. thanks

[Nedkellylandau]

C'mon guys. Give the company some credit for creative business. The new digital technology purchased will be used to see if any of the schools are sitting on shallow, easily drilled oil reserves. Simples!

[FUBAR@Birth]

This is just quality !

You couldn’t make this stuff up. But bizarrely I’m actually pleased as it’s nothibg to do with oil as we are clearly shit at that !

Knowing our luck we have just entered into a deal to buy the St Benedictus Catholic School for boys just as it’s about to pay out millions for abuse scandals.

Not exactly sure how buying a school is going to transform our fortunes but hey ho we sure ain’t doing anything with what we got and if miraculously gets the sp up at some point that will do for me !

Gla fellow pupils
Fubs

[miniboy]

Oil business cracked, lets now sort out education.

Looks like Kerry getting her kids education sorted.

You couldn't make it up!

[Momo]

The school thing is an embarassing joke.

How much is it costing to "invest", I didn't see an actual figure?

[boobs]

shareholders are to be diluted to oblivion. I expect at least 60bn shares, LO will then own 80-90%. cant be arsed working out the exact numbers.
This will never relist. It cant.

[Momo]

Malcys posted a blog, listing whats in the release.I find it funny how he offers no view at all now, neither positive or negative. This is a cop out Malcy, what's the point of your blog then? Previously you offered all kinds of views calling shareholders "turkeys" etc then becoming all pro Range and its BOD. To offer now view now is cowardly.

https://www.malcysblog.com/

Range Resources
Range has agreed to restructure its balance sheet through various measures including extension of maturity on the $20m convertible to November 2022, with no repayments until maturity; $19.7m of debt due to LandOcean to be repaid through issuance of new shares, with balance of debt extended by 3 years; and the $2.8m deposit for the purchase of RRDSL applied towards the outstanding consideration.

They have also announced a potential new acquisition which would take the company in new direction – a pre-school education business in China. Due diligence is currently underway and should be completed during April 2019 when shareholders should find out full details of the deal. The acquisition will be deemed a reverse takeover, so the shares will be suspended until documentation is finalised. In the meantime the company will be undertaking a review of the oil and gas business which might just start the process of some probably necessary consolidation of interests in Trinidad.

The company also announced interim results to 31 Dec 2018. Revenue of $7.0m (1H18 $5.4m), with net loss of $(35.9m) (1H18 $(9.6m)) following a net impairment of $30.2m relating to the asset base in Trinidad and Indonesia. Net debt at December of $89.0m. The small dip in production was widely flagged, and the minor fall in output is offset by higher realisations and lower opex costs.

The Beach Marcelle waterflood continues to perform well at 150bopd, with scope to increase this output through an expansion of the programme – planning is underway. The write down of the portfolio in Indonesia and Trinidad should come as no surprise, as projected work plans were being deferred, and the higher oil price making Range subject to the higher taxes under the punitive Trinidadian fiscal regime.

[FUBAR@Birth]

Over the years I’ve come to view Malcy as a nice guy but basically full of shit.

He does nothing but repeat what’s in an rns and occasionally makes a comment. Many of his tips don’t come off and he just gives some excuse. Others he then ignores. He gets free lunches from all the companies he visits and trips away at their and our expense as can be seen by size of his waist !

He makes no difference to how a sp will perform.

[Nedkellylandau]

It is now obvious why after all the years of difficulties Nick Beattie final saw the writing on the wall and left the sinking shit, sorry Freudian error ship!

[miniboy]

It's now obvious, and has been for a long time, that Nick Beattie was part of a BOD that did nothing but have their snouts in the trough to line their own pockets whilst lying to shareholders promising jam tomorrow. The trough is empty so he left.

[day_tripper]

"Moreover, we are particularly excited with a potentially transformational acquisition opportunity and I look forward to sharing further details with our shareholders in due course."

Completely useless at running an Oil and Gas business, but this time, finally, I think they've found an area where they can really excel:

https://www.youtube.com/watch?v=2JBbaAG5Bdc

[Momo]

Malcys podcast comment at 6.38 about Range and their school aquisition, "the end of range resources as we know it," "will review the Oil and gas business,". Seems to think Range will sell off bits.

https://www.malcysblog.com/2019/03/vox- ... ne-energy/

[Martini069]

Very strange change of direction by board of directors but I have ever confidence they know what they are doing and will turn this around. You never know this could be the making of Range. We should all know more shortly. Does anybody know if they are going to hold any more Q&A’s as there hasn’t been one for a while?

[FUBAR@Birth]

https://www.asx.com.au/asxpdf/20190401/ ... pg027h.pdf

Guffaw! And so it goes on........

[Momo]

Range have settled the Columbian debt with no charges ......there is an error in the rna as they've forgotten to add another billion shares on to celebrate this victory.

[Martini069]

Welcome news this week. Quarterly report due on Tuesday so perhaps we will get some excellent news on some RRDSL contracts, Indonesia and increased BOPD. Have a good weekend everyone

[Nedkellylandau]

Martini069 wrote:
> Welcome news this week. Quarterly report due on Tuesday so perhaps we will
> get some excellent news on some RRDSL contracts, Indonesia and increased
> BOPD. Have a good weekend everyone

Good news from Indonesia would indeed be a surprise as I seem to remember we ditched Indonesia to go preschool.

[Martini069]

Good news re: Indonesia would be getting money for the Asset. I wasn’t expecting anything else. Sorry for the confusion

[Martini069]

Does anybody know if the quarterlies will be published on July 31st?

With weather being reasonable and POO higher perhaps we make get a pleasant surprise

[cymrurhydd]

Good morning. So are you joining the class action, martini? Have you registered with Gordon Bowden? Are you booked into one of his presentations. Will we be informed this weekend, I wonder?

the real martini has informed me what he is doing. But still unclear whether you - after losing a lot of money on Range and trolling all boards for several years as manos, yuff, omadawn etc. are going to attend one of the presentations and join other current and past shareholders.

[Martini069]

Yes I have registered my details with Mr Bowden and unfortunately due to work commitments I will not be attending the presentations. I hope to see someone from this board post details of the presentation unless they have to sign an NDA