This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

RRS - Range Resources

Jump to new
So what is going to happen this week? Any ideas? Looks like the share is already heading north. Maybe we will be converting the options after all. ??
AIM listing could be the reason but I've the impression there is more than that going on. Talk about last minute!
 
I feel market is going to love this one again. big resource, low to medium chance of success. Market loves SDL, ADY, AAR. They are in the similar situation but different sector and industries. So I think RRS is going to have some good day in the near future.

if they hit the oil well, under $60 per barrel price, it is estimated the price of shares at $7 per share. right now, it is $90 per barrel. So it is a least worth $10 per share.

54c is ok for me to punt. does anyone here hold RRS?
 
Don't hold, but have traded it in the past. I think your assessment of possible success as low to medium is a tad optimistic. Huge geo-political risk it being in Puntland. Long term it may all come good, and they do have some powerful backers.
I don't see many similarities with SDL, ADY, and AAR any more so than hundreds of other speccie hopefuls.
ADY has a proven JORC iron ore and Lithium resource and are producers.
AAR has proven gold and are producers. Potential for truckloads of other good stuff.
RRS hasn't drilled a hole anywhere yet...
 
Am still holding a stake in RRS, mostly because I love the wild story behind this venture. Call me a romantic, but who can resist having a flutter in a place called Puntland?

You'd think they have hit bottom now, but it might pay to wait and see how they go on AIM. Uninspiring so far, and the latest capital raising at only 22p (50c) is an even less inspiring move by Range, but you'd think they'd hold at that price - today's 49c low on ASX looks like overselling.

These shares are all about news out of Somalia, or the lack of it. Somalian news is almost always bad - no news sees the price go up, bad news and it goes down. News is bad at the moment. Puntland is fighting independent Somaliland next door over a border dispute. On top of that, the prospect of striking oil has every politician/war lord in Somalia eyeing the RRS pie, and the central government in Somalia (different to Somaliland) is always threatening to overrule the Puntland provisional govt and renegotiate all mining contracts. But semi-autonomous Puntland would probably go it alone if it did, and Somalia is in too much of a mess to do anything at the moment. The current Puntland government is stable and RRS looks secure as long as they stay in power.

It all depends on whose got the guns! This one's a wild ride but with drilling planned for next year, and assuming border skirmishes with Somaliland settle down and don't get out of hand, RRS should take off again. All the talk about big oil prospects has me along for the ride, but this isn't one for the faint hearted.


 
As you say not for the fainthearted, but everything is falling into place very quickly and with an aggressive drilling programme ahead early 08, this is a blue sky speculative stock. Just have a look at the latest announcement re: operation update and the Fox Davies report (on range website) and you will see there is great potential in this stock. Great support by institutions and AOI is not a small operator. Political instability has been an issue with Range for a while but with the "resignation" of Gedi and President Yusuf "taking control" leads me to believe that the issue is being resolved. FD states a spec buy (price range $1.17 - $5.71) and don't forget this does not include minerals or offshore exploration. Keep this on your radar. DYOR.
 
RRS s.p. might languish until firm drill dates are known i think.The long term followers will be stoked there is talk of a drill within the next 4 months.The theory of Nogal & Darin valley basins being an extension of the Arabian and Yemen basins is yet to be proven so another very high risk / high reward play.

 
I agree. Friday's announcement has firmed the drilling program, and Range are keen to keep us keen. That's not to say there aren't political risks but I certainly think its worth a punt.

 


Hi folks,

RRS ... exam time, so only some brief details, right now !~!

03122007 ... minor and positive news expected here,
about long-term changes ... ???

07122007 ... minor and positive ... finances???

21-24122007 ... Merry Christmas - expect VERY
significant news here, as a positive spotlight
is focused on RRS ... this should be BIIIGGGG
..... and right on the summer solstice, too !~!

27-31122007 ... looking for a BIG move upwards !~!

02012008 ... minor

09012008 ... minor

22012008 ... minor

25012008 ... significant and positive ... finances?

More later .....

have a great weekend

paul



=====
 
mr greed said:
1/Jan/2005..Even with 320 mil shares they could easily hit 60 cents or more. I own RRS and should buy more at this ridiculously low price.
Click to expand...
And almost 3 years later At 30/11/2007 Last Price 0.45
52-wk High 1.34 or about 95 cent according to ASX site anyway wow what a ride.

The Somalia side of the story is interesting.
 



Hi folks,

As forecast ... the fuse has been lit and the powder is
burning, ahead of an anticipated explosive move for RRS,
around the summer solstice, next week ... !~!

have a great weekend

paul



=====
 



Hi folks,

RRS ..... so far, up 25% today, ahead of big news, expected
later this week ...

happy days

paul

 
Trader Paul said:


Hi folks,

RRS ..... so far, up 25% today, ahead of big news, expected
later this week ...

happy days

paul

Click to expand...
LOL... Todays Open 0.470- high 0.625. amazing

Well done...now i really do wish i got in last week, i went for the other
African speccy.
 
Trader Paul said:


Hi folks,

As forecast ... the fuse has been lit and the powder is
burning, ahead of an anticipated explosive move for RRS,
around the summer solstice, next week ... !~!

have a great weekend

paul



=====
Click to expand...
That's it, you'll be getting a new calendar for Christmas! The forecast was that positive things would happen on 3/12 and 7/12. Nothing did. No forecast was made for 17/12, so to claim what happened yesterday 'as forecast' is bending the facts a bit. Let's see what, if anything, happens 21-31/12 and then you can claim your victory. Looks like the burning fuse is stamped out by the wider market at the moment...
 



Hi folks,

RRS ... posted 30112007:

"25012008 ... significant and positive cycle ... finances?"

... so, we'll be alert for some positive RRS news/moves, over
the next couple of days .....

happy days

paul



=====
 
Well, no positive (finance) news end of January. News of delays yesterday though and now won't start drilling until July. Will have another look then, but they don't appear to have much else happening in between. Shareprice heading to long time lows today.
 
what the hells going on with range resources,

trading halt on the 22nd for a pending significant change in management
now on the 24th suspended from official quotation pending an announcment
regarding management changes.

maybe the somalian pirates have kidnapped the board and placed BLACKBEARD
as new ceo.arrrrgggghhhh.
 
Range Resources in the news the other day.

http://business.theage.com.au/business/mining-firm-tied-to-somali-oil-pirates-20081119-6bld.html

November 20, 2008 - Mining firm tied to Somali oil pirates

AN AUSTRALIAN mining company has paid millions of dollars in controversial
fees to Somali rebels responsible for a surge in international piracy.

After signing a heads of agreement with Puntland's government in October
2005, Range Resources paid $US1.5 million up front, 17 monthly payments
of $US200,000 and an additional one-off $US1 million.

etc
 
Range Resources partner in oil/gas explorations of Puntland, Africa Oil corp
has stopped exploration for lack of funds local staff have said today.
www.reuters.com/article/rbssEnergyNews
The company had started seismic mapping in a region it believed had
strong prospects of holding rich oil deposits like those in geologically
similar Yemen,a neighbour across the gulf of Aden.

"Africa oil corp has failed in its objective due to lack of funds"Ahmed Ali
a local staff member told Reuters.We have not received salaries for three
months.Foreign staff have already flown out and the company has stopped
its operation."
A local policeman who worked for Africa oils security unit said he and local
colleagues had impounded the companys equipment until their dues were paid.
---------------------------------------------------------------------------------------
Range resources has an MOU with Africal oil in relation to spending us$50million for an 80% farm in to exploring 2 main basin areas in Puntland.

This Puntland deal has been one saga after another.
will/can Range find another farm in partner or will they head off for a bold new adventure elsewhere?

Ill keep my small parcel just in case this becomes the next poseiden NL
 
RRS, is just one more the ramp team at HC got wrong. You can make good money on the ramp team, but the minute the team, leader stops posting on it get out.
 
The pro Puntland leader of the TFG has recently resigned after he was accused of being an obstacle to peace in the region [Source]. Warlord Abdilahi Yusuf will be replaced by either the opposition leader Sheekh Sherif Sheekh Ahmed or the current Prime Minister of the TFG Mr. Nur Hassan Hussein.

Both Sheekh Sherif and Nuur Hassan are from the Hawiye clan who control Mogadishu. Unlike the Daarood clan in Puntland the Hawiye clan is a centralist who want to establish a centralist government in which they will rule the country from the capital.
 
You must log in or register to reply here.

Similar threads

All trading needs to cease for 14 days prior to Monday open in Sydney
2 3 4
Replies
75
Views
11K
divs4ever
Iran Is not Iraq
3 4 5
Replies
93
Views
12K
Dona Ferentes
R
5 Years of Reflection
Replies
9
Views
6K
Dona Ferentes
State tax reform
Replies
0
Views
4K
sydboy007
LIT - Livium Ltd
2 3 4
Replies
73
Views
27K
frugal.rock
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...