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World Stocks

Range Resources

Fat Lady Singing?

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

Fat Lady Singing?

Post Tue Sep 03, 2019 7:25 am

Sorry to see this for those still holding.

https://www.investegate.co.uk/range-res ... 00039748K/
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miniboy
 
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Re: Fat Lady Singing?

Post Tue Sep 03, 2019 8:12 am

Not sure what to make of it tbh,

Could be the best way forward, if we can dispose all other asseys, do few exploration drills and hit good oil then i can see us doing good business.

But its all if , Landocean wont mind now of we run out of money!!

Gl all
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Starhero
 
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Re: Fat Lady Singing?

Post Tue Sep 03, 2019 9:57 am

This is bizarre and not sure what to make of it !

It sounds great. Debt free and restart with drill rigs and bit of cash in bank for giving away current oil assets in TT

But there has to be more to this. Can’t be so easy.

Yes needs approval and all usual stuff but that will happening again as normal as major holders control the stock.

One concern I do have which nobody seems to have picked up on the boards is the comment that it’s subject to Range getting mortgages for the current rigs. So are we effectively about to give land ocean our producing assets. And then remortgage the rigs to meet our ongoing costs going forward in hope we then get some contracts ?

It’s all very muddy
FUBAR@Birth
 
Posts: 965
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Re: Fat Lady Singing?

Post Tue Sep 03, 2019 10:39 am

"This is bizarre "
"It’s all very muddy"

But this has always been the case with Range so nothing new there. I will continue to hold to see the end game out one way or another.
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Biggles
 
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Re: Fat Lady Singing?

Post Tue Sep 03, 2019 12:07 pm

Did not see that coming & was expecting LO to write off or buy from liquidators!!!!!!!!!
Could just be Chinese "face saving" or a way of extracting the drilling Company?
Nothing to be gained from selling for a few hundred quid, so sat on my hands & will see this through!!!!!!!
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enfranglais
 
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Re: Fat Lady Singing?

Post Tue Sep 03, 2019 12:11 pm

This was always the plan once the Chinese got involved
Step 1 Hire LO
Step 2 Rack up millions in costs providing 'services" that added zero oil reserves forcing Range to accumulate massive debts they could never service
Step 3 Sell TT for 2.5million after spending many millions on water flood and exploration

Just watch the oil flow after the sale...ive read childrens books that are more predictable
Catstar
 
Posts: 461
Joined: Mar 2013

Re: Fat Lady Singing?

Post Tue Sep 03, 2019 1:13 pm

sums up my journey was range, had shares over 9 years and sold out last week, today though up 208% ! CUN..........t
kemp91
 
Posts: 1589
Joined: Apr 2013

Re: Fat Lady Singing?

Post Tue Sep 03, 2019 4:01 pm

The mind boggles.
Feels like a soft reboot, to rinse and repeat.
Not convinced LO ready had spent anywhere near that money on Range in the first place (ie inflated figures for work done? valuable work that led to how much increase in oil?). With that said they could easily off load it for a "loss" and still up on the game. I doubt the oil will suddenly start flowing now as has been suggested on another board.

This maybe on paper the best thing that could happen for the lth (as the alternative was to hide under the table when the baliffs came). Can't help but think a cash call will need to be made to buy new "exciting" assets, combine this with a consolidation and further stock issue or two and you can see the gravey train keep running and the lth left fingers crossed for a win in the next 2/3 years again.
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Momo
 
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Location: Relax nothing yet...

Re: Fat Lady Singing?

Post Tue Sep 03, 2019 4:03 pm

For what its worth Malcys take, he's very positive and has ordered bigger sized pants to accomadate further free lunches.

Range Resources

Just when you thought nothing could go right for Range a significant rabbit has been pulled out of the hat. The company has signed binding SPA for the sale of Range Resources Trinidad to LandOcean in return for offset of all debt ($91m) and cash of $2.5m to Range.

This is a cracking deal for Range as in a stroke it has made the company debt free, with cash resources bringing increased liquidity and of course improved shareholder sentiment. Getting @$95m for these assets is by any matter of means incredible and should have an immediate knock on effect for other players in the area.

Range is left with the drilling company in Trinidad and the Indonesian assets, as this transaction is completed one can only hope that the deal gets completed. Range shareholders will then rejoice.

https://www.malcysblog.com/2019/09/rose-echo-range/
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Momo
 
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Location: Relax nothing yet...

Re: Fat Lady Singing?

Post Tue Sep 03, 2019 6:15 pm

Whichever way you look at this it has to be good for the future. We have our debt written off, new owners in the name of LO and Chinese investors with deep pockets (SIBO). Looking forward to the next roll of the dice. Could be a few more surprises due. Now a Georgia settlement would be most welcome. Can’t help wondering if they have their sights on other assets in Trin too. Have been shot down in the past for suggesting this but it would be a logical move. Think we will relist on ASX shortly too as the reason we couldn’t was we have had to show how we would service our (soon to be non existent) debt.
Celticheart07
 
Posts: 283
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Location: Wales

Re: Fat Lady Singing?

Post Tue Sep 03, 2019 7:23 pm

Well it's been an interesting few years. I've had to use a different ID as I couldn't login with my other one The_consequentialist (correct spelling).
I have a similar average to you Celtic (I think) at 2.3p. My first ever buy in this stock was at 9.598p - my last purchase according to my notes was .076p simply to try and bring my average down. I have wrote them off in all honesty and after coming back from a month away I have been contacted to be informed that my broker SVS, where I hold 1.4mil of these has gone into special administration. I wanted to transfer those shares to the other shares I hold in range in my other account with interactive investors - oh well.

Like everybody here who is genuinely invested, I am really hoping for at least a little something.

£1 club anybody?

The_Consequentialist
the-consequentialst
 
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Re: Fat Lady Singing?

Post Tue Sep 03, 2019 9:42 pm

I can see that you and Celtic have done extremely well to get your average down, the consequentilist.

Early days, and we could do with a steady news feed, and some active PR with a clear drilling plan. I am surprised that most LTH are not as bitter as I think I would have been. Range has never owed me much, as I had never heard of company during Landau reign. But great to see so many posters today, great to see so many of them with high hopes still.
cymrurhydd
 
Posts: 46
Joined: Sep 2018

Re: Fat Lady Singing?

Post Wed Sep 04, 2019 11:23 am

Last buy was mine...........not sure what my average is now, but should have made a nice dent into it. At this price the risk/reward for a recovery play was just too tempting.

Anyone else a buyer?
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Momo
 
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Location: Relax nothing yet...

Re: Fat Lady Singing?

Post Wed Sep 04, 2019 2:33 pm

Not a holder, but seeing rrl debt free, the money pit of Trinidad gone, keeping RRDSL and having a few million $ in the bank along with the bizarrely indirect/indirect/indirect asset play in Indonesia.
Will never be the £300mm monster it once got to, but even £20m mcap has a multi bagger opportunity.

Stick a 100:1 consolidation into the pot and a rebrand while they're at it and you might have a wee positive run for a couple of years.

all the best
cheers
DD
Diamond Don
 
Posts: 591
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Re: Fat Lady Singing?

Post Wed Sep 04, 2019 3:26 pm

Wow guys , nice to see the golden oldies posting here...the memories.

I have to say , i still have a soft spot for Range even though i sold out with a £50k loss back in 2017...invested in Echo, only to lose £30k there with their mess!

Thankfully , i got smarter and invested in Reabold(RBD) and UJO(Union Jack Oil) and have made back all of my Range losses (Echo still some way to go)

So i feel vindicated finally notwithstanding seeing Range go down the toilet.

I really did think the end was nigh for Range and would go bust....cant believe they rescued again.

If this all goes well , then Range has a debt free (minus Rig mortagages mentioned) company that will be drilling in TT for LO on all them RRTL blocks we dragged our a** over.

Still , bigger problems in TT...just way too slow in the red tape to get things going. LO will need to do something drastic to address that...couple of brown envelopes will do wonders :P

Well gl to any "remainers".....I still follow Range as wanted to see where the story ends...and as with any good story , there isnt one ....yet

cheers

IT
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Invester_Tester
 
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Re: Fat Lady Singing?

Post Fri Sep 06, 2019 8:44 am

Momo wrote:
> Last buy was mine...........not sure what my average is now, but should
> have made a nice dent into it. At this price the risk/reward for a recovery
> play was just too tempting.
>
> Anyone else a buyer?

Hey Momo I took the opportunity to buy 1.8mil the other day putting my average at 1.2p now. For £1k I thought it’s a good opportunity to halve my average.

T_C
the-consequentialst
 
Posts: 2
Joined: Sep 2019

Re: Fat Lady Singing?

Post Sun Sep 08, 2019 6:09 pm

My ave. only 0.58 but was not tempted to ave. down with all the froth & day traders trying to jump in for their piece of the pie - glad now!!!!!!!!!!
Need to have a better idea of approvals & work for the hopeless drilling crews before adding even a solitary pound!!!!!!!!
Mostly into HUR now & have high hopes for that next week.
Good luck to all except OMA, who defines the statement "sick individual"!!!!!!
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enfranglais
 
Posts: 739
Joined: Oct 2013

Re: Fat Lady Singing?

Post Sun Sep 08, 2019 6:12 pm

Received this e-mail in response to a question I raised with Eva re RRDSL:

Hello ******

Yes, we still retain ownership of RRDSL. At this stage, it is proposed that RRDSL will continue to provide services to RRTL following the change in ownership of RRTL to LandOcean.

Kind regards

Eva
Celticheart07
 
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