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Completely lost DC., you will remember this birthday. Cannot afford the hangover I had today, tomorrow. So nite all and lets hope everything turns around. Just dreading turning this computer on tomorrow.

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August 04, 2011 - Range Resources Old Park Lane Capital
http://bit.ly/pUhhLQ

RANGE RESOURCES LTD 12.5p
Puntland drilling update 4 August 2011
Range has announced that Africa Oil, through its newly created company Horn Petroleum Corp, is in the final
stages of preparation to commence a two well exploration drilling campaign in Puntland. Two drilling
locations have been selected in the Dharoor Valley Block and Range anticipates that the first well will spud in
the early part of Q4 2011.
Africa Oil, the operator of the Puntland PSAs has entered into a letter of intent for the creation of a new
Puntland focused oil and gas entity to be called Horn Petroleum Corp. This company will be created as a
result of the sale of Africa Oils subsidiaries that hold its Puntland properties.
Horn completed a $41m private placement on 2 August, in which Africa Oil subscribed for $10m. These
proceeds will be used to fund Horns share of the drilling costs. Africa Oil will have a c.50% interest in Horn
when the transaction completes and will provide management and technical services.
Contract negotiations for a drilling rig are at an advanced stage and we expect a finalised agreement in
August. With Somalias current famine crisis and large numbers of displaced people in mind, the Puntland
government and the Dharoor Valley communities are fully supportive of the partners moves to commence
drilling in Q4 and have stated that they will make every effort to ensure that the project progresses safely.
Drilling locations for both exploration wells have been selected over two highly promising prospects in the
Dharoor Valley Block. Each well will target gross best estimate prospective resources of 300mmbbls and
375mmbbls respectively. Range has a 20% interest in the licence, with Horn Petroleum (operator) and Red
Emperor Resources each holding 60% and 20% respectively.
The Puntland government has allowed milestone target dates within the PSA to move the commencement of
drilling into the fourth quarter, rather than the original date of 27 July 2011. In addition, partial acreage
relinquishments in both licences have been finalised and approved by the government.
Range is entering a very exciting stage of activity in Puntland as mobilisation looks ever more likely. With
exploration drilling continuing in Georgia and an aggressive development programme also underway in
Trinidad, we believe that the current share price represents a great opportunity for investors

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Well I was going to switch off but glad I did not, you see, I have been thinking for months now that these have never done anything since the 2 AXS enquiries as to what reason these were going up. I have never wished to broach the subject as I thought I would get some answers I did not want to read, I agree with your thinking - but probably we won't get the answers we want. Look back to the price of them when the 2 enquiries took place and you will note what I mean.

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Hate to say it but I did say weeks ago that these were heading back to 8p I did hope that it was in jest but nevertheless me thinks it it is where it is heading. Go and enjoy the rest of your evening - not worth stressing ourselves any more tonight.

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Chill with a gill I say!

Tried to chill with more than a gill last night all it did was make me feel "ILL" this morning so not going down that road tonight. What will be will be.

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what a day here and everywhere - i made some trading here today - but my long term holding rrl has taken a real battering - but i am extremely sure will bounce back in time - i felt obliged to trade earlier today to soften the reduction in long - but i really feel for anyone that has been forced out of their positions - i would be gutted - to see people long term holders of rrl taking 5 figure plus losses is very sad - i hope they get it back

italy and other countries giving everyone the jitters - but if you can afford to just sit tight here imo

interesting comment from someone yesterday - 'loads of bargains right now - but are they' - i can answer that - yes they are bargains if you buy right now even if they drop a little more - AS LONG AS YOU CAN AFFORD TO WAIT FOR THEM TO RECOVER - if not i would not buy - trading today i traded what i could easily cover only

tomorrow will be interesting - like everyone would like to see a swift recovery here but chatter is expect more drop early tomorrow and some recovery after

what a mess globally - very gla - we all need it

FTSE 100 5393.14 Down -191.37 -3.43%
Dax 6414.76 Down -225.83 -3.40%
Cac 40 3320.35 Down -134.59 -3.90%
Dow Jones 11464.93 Down -431.51 -3.63%
Nasdaq 2576.42 Down -116.65 -4.33%

i was looking to sell some other shares today to buy more for my long aside from my trading - then noticed all my shares were donw!! lol!! :-(((

yeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

I must be missing something here, mickey mouse stocks like these are laden with risk and surely cannot be taken seriously on a day to day basis. So why do posters have an orgasm when they rise 1p one day and a coronary thrombosis when they drop 3p the next. Can anyone enlighten me?

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lol cc - it depends how much you are playing with - 10% of any share be it a ftse or a tiddler aim - is still 10% - you trade big you make big - get wrong you also lose big!!

dc - i hope your day wasnt too bad - you know - i know - rrl will rebound as others will i remember other similar times - always come back

i get the feeling cc may have had a bad day at the office

anyhow you have a good evening - things will right themselves in the not too distant despite current market conditions imo

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No offence intended dreamcatcher, I just don't like the odds. gibby horses for courses mate as you say, surely investing in an Aim stock has to be considered long term buy and hold (not sure if that strategy exists since 2008 mind) so isn't that like a shit or bust trade? I just don't get the daily posting bit. Like everyone else I have suffered losses this week, in spreadbetting part of the game I accept that, but those losses are limited. I only have one open trade short MTO, not very exciting but currently in profit. I also scalp the Ftse on a daily basis for twenty points and call it a day. Good Luck and all the best guys.

CC