.

gibby great. A lot buying on RMP today, long hold of sp.

Either you guys are on drugs or I am looking at the wrong graph, 'cos (sadly) the trend is till down, so your efforts to boost the sp are falling on stony ground.

No i am not on drugs?

Ah, wrong graph then? ;o)

Harry this is why i invest in rrl. From a top poster on interactive investo ii. I pedro
thank you. I would tell you why, but someone would tell me i am talking cr-p. So other investors are thinking the same. Time will tell






Why Invest in Range Resources? iPedro 35




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Trinidad Company-Making Asset
-----------------------------------------------

No investment made in the last 5 years
Currently only exploiting 5% of the 2P reserves.
4000+ bopd is forecast over the next 3 years just from identified 2P reserves (21-well drilling program).
20m identified prospective resources.
13 seismic-mapped Herrera prospects starting this year - each one est. 20-120m OIP.
Altogether over 250 identified, fully-funded, drillable targets over the next 4 years.
Range owns the entire oil production infrastructure and staff, so no reliance on:
JV partners like Africa Oil
Drilling subcontractors
Rig Infrastructure, equipment, casing, etc
Workshops
Trinidad was bought for $60m - Currently worth 140m
Range owns 100% of the Trinidad licence - repeat this to yourself as required


Initial 21-well drilling program of shallow well production over the identified 2P reserves of the Forest and Cruse formations will be the cash underpin that will steadily increase until Q1 2012. Considerable further upside lies in the 20m prospective reserves, plus 13 deeper (about 3500 metres), Herrera formation drills to start in October.

In 2012, perhaps (no solid plans as yet), drilling of deeper Upper Cretaceous formation that is believed to contain billions of barrels of the stuff. Imagine getting a sniff of (100% of) that. Trinidad lies in the Eastern Venezuela basins that contain the largest containment of oil in the world. The Orinoco-Heavy-Oil-Belt contains over a trillion barrels of OIP.

http://geomarkresearch.com/res/Regional%20Studies%20Proposals/South%20America/Venezuela%20Oil%20Study.pdf


Georgia
------------

Currently waiting in anticipation of an SP-boosting find of over 100m bbls of OIP.

http://www.rangeresources.com.au/operations/georgia/


Puntland
--------------

Further mind-numbing possibilities of over 2bn bbls OIP from 2 wells over the next 12 to 18 months, starting Q4 2011.



So there it is. I haven't mentioned Texas, but you'll find out about that one as you DYOR.
Current share price is underpinned by Texas and Trinidad assets alone, with room for considerable upward movement upon hitting the bigger stuff.

Why not get in now and wait for the magic to happen?

In answer to the last paragraph, because with all the JV's, exploration, drilling, potential, anticipation etc etc the sp continues to decline. The stock market is littered with small companies who have 'Further mind-numbing possibilities', but never seem to achieve them. As previously posted, I have a small stake here, but this is turning out to be yet another VOG, SEY, GOO, AST, JLP, OXS, PCI, DES.........very disappointing so far, but my own fault for listening to the hype which hints at jam tomorrow (actually 4 years away in some instances).
And just to add a personal comment on Trinidad. If you have ever been there you will understand that it is a very corrupt and lawless environment. It may seem to be a tropical paradise, but organised crime and political ineptitude is the reality and I imagine it is a very tricky place for outsiders to do business.

Harry its good to have your views as well. Like i have said before it either makes it or not. It has made me a fair few bob so far, so i am quite happy to wait and see.

hc
my friend the mm trend does not telll the actual
being traded down that is all
traders need to trade watch the incoming reverse shortyly
lol

Most oil companies have hurdles to overcome. Even if the oil comes out the ground
it must be profitable. Even RKH, look at the figures being put up for infrustructure in the Falklands.

Was it 800 million to 900 million something like that.

I have a day job. So fully admit i am far from being a shares expert as you can see.
The charts only tell me the past, when i am only interested in tomorrow and the future.

I agree that charts only show past performance, but they can also give an indication when sentiment/profitability/expectation in a company has changed for the better.
I am not an expert either, but I treat comments like 'This stock is being traded down' with a very large degree of scepticism. That makes 3 months of 'being traded down' which I think is very unlikely in this instance. Produce some good reasons as to why that should be and I may be persuaded to change my opinion.

I respect all your comments Harry. I am very happy to invest here. I will leave gibby to answer ' This stock is being traded down'.

I have looked at a lot of oil companies and thoroughly researched them.

RRL held on the ASX

Company update:http://moneyam.uk-wire.com/cgi-bin/articles/20110825120426PA1A9.html

As I've mentioned on here and SOLO - I've more than made my original money back+ on both. The shares that I still hold in both are therefore free! Good luck to anyone holding, but, as has been pointed out many times - by their very nature, they are highly speculative.

Slow,Only a fith of the way with the drill. 700mtrs of 3500mtrs. Better flick the turbo on the drill. Otherwise will be October?

Also no Trini news, CPR,flow rate of 1st well and future well drills.

A blowout preventer is a large, specialized valve used to seal, control and monitor oil and gas wells. Blowout preventers were developed to cope with extreme erratic pressures and uncontrolled flow (formation kick) emanating from a well reservoir during drilling. Kicks can lead to a potentially catastrophic event known as a blowout. In addition to controlling the downhole (occurring in the drilled hole) pressure and the flow of oil and gas, blowout preventers are intended to prevent tubing (e.g. drill pipe and well casing), tools and drilling fluid from being blown out of the wellbore (also known as bore hole, the hole leading to the reservoir) when a blowout threatens. Blowout preventers are critical to the safety of crew, rig (the equipment system used to drill a wellbore) and environment, and to the monitoring and maintenance of well integrity; thus blowout preventers are intended to be fail-safe devices.