.

Agree rf

A watched pot never boils..... :-)

boils need lancing!

Hi guys. Bit strange it isn't moving up in sympathy with RMP..maybe an element of switching into RMP from RRL going on. I am in both, much more in RRL as I like the broader spread of business.

Lancing.....that's down in Sussex isn't it?

or Canada :))

My oppinion for what it's worth - thanks to Mikeulike 29




Afternoon all,
I have a theory as to why we are really struggling to break 13.5p
I've been running the calcs and I'm pretty sure I have things right so I will try to explain.

I now very much believe Range is purely being valued upon the oil in ground price of about $11 / Bbl for the bookable reserves in Trinidad and Texas only!

This is why our SP is not rising!
Puntland has not yet been proven, evaluated and underwriten by any reputable body and until that happens the ii's will be staying well clear of further investment. They do not need to gamble as we PI's do because they get news before it hit's the market so will get in and make their money regardless on good news.

Anyway, we are being told that the block currently being drilled is expected to yield around about 300 MBbl's of oil which would mean RRL is in line for about 60MBbls of 'Oil In Ground'.
This is where I think many are getting deluded.
At most OIG for this area would be about $6 / Bbl.
It's only when it is recovered that the full price is ever seen.

A proven oil strike of this size would pur approx 11.5p on to our SP!
Not really what we had been looking for but still not bad news.
PL has always said that Puntland would be proven up and then sold on.
Hopefully by this point we will have a lot more bookable reserves in Puntland. Even if we were only to get the estimated 120 MBbls from the currentl two sites things would look pretty good as a sale price of OIG can be as high as £15 / Bbl these days which would give us approx 85p / share for Puntland alone.

As for Texas...I think some on here are also mistaking raises in production figures for raises in reserves.
I currently forecast that Texas would fetch between 180 and 200 million pounds. more than enough to buy back a quarter of shares in issue and have some cash left over for operations.
This would offer the best value for most of us and would encourage investors who are at present concerned about investing in a company with so many shares in issue.

Ok...All the above is just my take on the situation however the figures do add up.
I really do hope the RRL SP goes balistic because I only hold here now but for me this is not an overnight get rich play. real value will only ever be released in the sale of assets or the company as a whole.
That's how much I believe in Range!

regards
Mikeulike

P.s. Please don't let the short term SP lack of movement dismay you.
You are either an investor and will have to wait for your day or a trader and will be loving the current swings

Looks like $9 for x amount of units. The US up 18%

http://www.otcmarkets.com/stock/RGRYD/quote

Wait for answers then see the rise Thanks to DiamondDon 16 another view



A lot of concern over the lack of share price movement, understandable, given the enormity of the projects we are involved in.

However, if you look at all the projects objectively, you will see exactly why RRL is not moving - unanswered questions.

Texas: "Work is *currently underway*" (ie not complete); "Range *estimates* that over 80% of the
... Howell Hight reservoir falls into the Proved and Probable (2P) category" (ie guesswork); "Range *estimates* that its net production and cash flow from the project will increase by more than
200%" (ie more guesswork).

Trinidad: "490% Upgrade of Proved (P1) Reserves" and "Range, through its wholly owned subsidiary Los Bajos Oil Limited will seek all necessary approvals to commence development in early 2012" (ie await further approval and progress)

Puntland: "Determination of the quality of the reservoir and prospectivity of any potential oil bearing intervals cannot be determined" (ie await tests)

Georgia: "Range would also like to announce that ... the Joint Venture has taken the decision to delay mobilisation" (ie await further progress)

Answer all the questions above and "Bingo", we move. Until then, sit tight and await greatness.

(If this is all news to you, why are you invested here?)

If we had half the amount of projects, and a 5th of the market cap, I expect we'd be displaying 8-10% gains right now in anticipation of Puntland, however we are where we are, and it's no secret or surprise.

I don't know what to believe regarding the 'manipulation theory', it could be PL has shot us all in the foot trying to be clever, or he is actually the clever one, we're all impatient, and all will be revealed shortly (ie a rumoured "Masterstroke"!).

I don't believe for a second, however, that the BoD are resting on their laurels at a meagre £300m mcap.

More than happy to be sitting at 13p, rather than the terrible single figure turture from the not-too-distant past. I've done my research, happy with my positions, and looking forward to a great year despite all the global uncertainty.

cheers
DD

US - 0.19c was the closing price of ONE share. The ADR unit is a batch of 40 shares, therefore 0.19c x 40=7.60.

7.60 up to 9.00 an increase of 18.2% .

Horn up 7.92% on Friday.

http://tmx.quotemedia.com/quote.php?qm_symbol=HRN

http://www.petroleumafrica.com/en/newsarticle.php?NewsID=13178

Very old article worth a read -http://www.wardheernews.com/Articles_08/December/13_oil_puntland_derek.html

The M29 aricle is very good...dreamcatcher....thanks for that...probably right,...looking good so far...

Thanks to pearl exporter - Wow, another excellent RNS and limited movement.

C'est la vie - you get used to excellent facts news being ignored after a few years in RRL... )

Investors who STILL can't see what's going on here. can get spiked on RMP for all I care, seriously, I own a few grand of RMP, but I am really surprised by their recent form - unless there has been a massive leak, then RMP are punching dangerously above their weight in the high 30s. I genuinely like a lot of posters here, but anyone prematurely claiming a commercial discovery in Puntland is delusional at best, we are weeks away from knowing where we are are with this beautiful drill, a few RMP holders need to start analysing just where they think they will be if things don't work out (it's an ugly picture). I am still crazily optimistic and the last RNS filled me with yet more confidence, but never get too far ahead of yourselves, guys.... I am currently in Nicaragua, so thus I have seen 'muchus' fat ladies, but none appear to be singing just yet... RRL is underpinned by our P1s, thus I sleep beautifully well at night in this mosquito embracing country.... RMP are fabulous 'IF' we are successful, but the tone on their BB currently is ridiculously dangerous - anyone investing in RMP now at current levels is either very brave or very ######.... )) Time will ultimately tell. For me personally, if RMP breaks 40p next week I will switch my holding fully to RRL. Simply put, because: (Cue ridiculous bullet pointed list)

- Our P1s are worth considerably more than our SP - most companies value themselves based on P1 and P2 reserves,I don't even have to do that to see the ridiculous value proposition that we currently have here on just proven assets.

- Trinidad will be valued at over a billion by the end of the year. Yes, slate me come December, but I still think that holders (especially on this BB) have no clue yet to the value of the Herrera and the UC drills that are fast approaching. Fag packet calculations = over 10p to the SP - per drill for the each Herrera prospect alone (there are multiple, even more since our deal with DL). And the UC layers - my god, anyone not familiar with the geology of the region and the Orinoco belt need to get reading fast...

- Herrera CPR due any day now....

- Offshore Puntland, worth multiples off onshore and RRL free carried until drilling. Seriously, we are worth more than the current SP based just on this monster of a licence. We are talking 20 Billion barrels + here... Ridiculous quantities...

- Colombia, about to kick off it would appear,,,, I think a lot will be surprised by the size of this and the production value currently in place.

- Texas, after yesterdays RNS, I am convinced that we will sell this asset for a minimum of 200M in Q3, perhaps a lot higher depending on the P1s etc....

- Georgia, the black sheep of our portfollio that we ignore a little too much now... ) Second well to kick off shortly, and I am convinced that there is something very dodgy about our P+R announced for the first well , a lot more to that than we know me thinks....

- Tangiers?? I am personally expecting our 5% stake to grow dramatically in the coming weeks....

All is good at RRL currently - don't get bitter when others rise faster than us, our time will come, of that I am more convinced than ever, Patience and beautiful fundamentals will prevail....

http://dissidentnation.com/weapons-deliveries-to-bosaso-port/

— March 10, 2012 13:54 — 0 Comments
Weapons Deliveries to Bosaso Port
Our contact in Puntland’s port city of Bosaso has opened the seal on another leak in the troubled and potentially oil-bearing region. This time, it’s not about the oil, at least not directly. Saracen International and partners in the security contracting business have been flying weapons into the region again.


Since 2010, Saracen’s total spending on security support in Puntland has been estimated at $50 Million, and that doesn’t even include hardware. Among the most recent deliveries, our leak tells us, were several containers of ammunition–likely small arms, assault rifles and light machine guns for infantry and naval teams, as well as parts for machinery–mainly marine and aviation parts.

Aside from parts, ammo, and small arms were armored vehicles. It wasn’t specific which make they were, but a dozen or more armored personnel carriers (APC), more advanced than the common Fiat 6614 that virtually all of Somalia’s factions have in tow, were seen being docked at the port in previous weeks.

Less certain in his next assessment, our contact spoke of tanks, likely Soviet T-54/55 models, among the APCs, though there is not proper infrastructure in the region to ensure optimal movement of such vehicles in large numbers. Our contact anticipated the delivery of small support aircraft, but it wasn’t part of the latest batch of deliveries, although Saracen has agreed to provide them to the local security forces.

The last major items in the recent delivery were a few dozen pickup trucks, later to be outfitted with mounted machine guns, known in Somalia as a ‘Tikniko’.

Hirsi Fiqi, Editor

DissidentNation.com

dreammcatcher, your US figures - what about these.?

Noticed that skinny , seems to be two types/lots ? although I prefer mine to yours
with the 18% gain :-)) What you have put up skinny looks like the sp for one share, mine is for batches of 40 shares.

What are the market caps for RRL and RMP.....?

£152m RRL £75m RMP.