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World Stocks

Range Resources

Change.org petition

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

Change.org petition

Post Mon May 21, 2018 3:42 am

Hi all,

This is my draft for the petition I am setting up to challenge management for better comms. Could you please let me know your feedback or if you would change anything. If we can get loads of signatures they will need to sit up and listen...particularly as I'll be posting all over Twitter.

Thanks

Razz

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With oil recently reaching 3 year highs combined with admirable operational success with Range Resource's flagship asset in Trinidad and Tobago, it is concerning to the signees that Range currently trades at near all time lows.

We believe the company needs to do more to market Range to retail buyers, in order to create and maintain buying interest and momentum.

Dedicated standalone news-flow from Trinidad and Tobago is sparse. (X 2 since 01 Jan 2018). TT news including positive developments is often embedded into quarterly reports - reference recent news about TT becoming cash-flow positive.

We believe the neglect of standalone updates for this asset dampens the impact positive developments would have on the market and the share price. We are concerned the company does not fully appreciate or chooses not to ignore the dynamics of the AIM market.

We request a monthly dedicated update (separate to Quarterly reports) on the TT asset, detailing progress on the work programme and covering current BOPD as well as follow up on progress made on outstanding issues (eg water-pump replacement, storage facilities etc).

Even if no progress has been made over that month we believe a transparent monthly report from the TT asset is essential to marketing the company effectively and improving communication with current holders.
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Razzledazzle
 
Posts: 2164
Joined: May 2012

Re: Change.org petition

Post Mon May 21, 2018 11:33 am

Good luck, but I don't think an online petition is going to convince Range (if they even bother to read it) considering RIG were unable to influence on similar initiatives, and individual requests from shareholders have also fallen on deaf ears.

I suspect they will just refer shareholders back to a previous investor Q&A e.g. from 12 Aug 2015:

Q: "Will the Company be providing operational reports on a monthly basis going forward?"

A: "The Company is committed to providing regular operational updates and is mindful of its reporting obligations as a listed company. As the operational activities increase, the frequency of the updates will increase accordingly. At this stage, the timing of the updates will be determined by the newsflow rather than on a scheduled basis."
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day_tripper
 
Posts: 657
Joined: Nov 2012

Re: Change.org petition

Post Fri Jun 01, 2018 8:29 pm

Raz ....I’m an investor here and only skim read your post. I don’t get what makes folks think they have a god given right to be told every little bit of news.

I know Range are pants with investor relations but many companies are. If it makes you feel better then fire out your petition but in all honesty, splattering it across any social media you have access too may be more counter productive than you realise .....and that’s only if folks can be arsed reading yet another miserable post.

I wonder how the new venture will go once we get opening those wells back up. Now that’d be worth hearing about.
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fatJock
 
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Joined: Mar 2012
Location: Northants, UK

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