.

You might be right but if you adopt that attitude with every share you will end up missing some profits but with this one who knows ?....anyone any idea what the market cap is now ?.....will keep the rest ahead of the Georgian drilling campaign.

understood - and in most shares i agree - lock in profits - but i have been in rrl since sub 4p very confident there is more today - be surprised if not - if not today another day at worst!
i might be wrong but pl mentioned a price of 50p before the year out in an interview which i believe is 600M value - should check that as i havent time at the mo. - so much news to come here and it is rumoured a 30p t/o approach was rejected only recently - gl

nearly lunch time..................

then 2pm.....................

Do you not think it will dip tomorrow with new shares??? bound to a bit but how much is anybodies guess, may bounce quite quick. Maybe worth selling a few last thing today? any views??.,.

not necssarily....


______________________________________________________________

1. Georgia - 2bn OIP over 68 targets. True, but consider that (i) this is based on seismic from 410km against a total licence area of 7000km (ii) the top 7 ready-to-drill prospects are estimated to hold 730m barrels (iii) the first two targets have been dramatically de-risked by a helium survey conducted by AGI, which points to such targets being oil and gas bearing, respectively (iv) we will (ultimately) hold 60% of the liences, comprised of 40% held directly in RRL and 20% held through our interests in Strait (we have an option to acquire 50% of Strait's shares pursuant to a share swap on the completion of two wells or a commercial discovery, if earlier) and (iv) we will have a (minimum) 50% interest in a large adjacent block in Georgia (Block VIII), which has just been awarded to Strait.

2. Puntland - we have a 20% interest in the Dharoor and Nugal licences, with two wells required to be spudded this year under the terms of the PSA which was agreed early this year. First target is estimated to be in the region of 1bn barrels (200m net to RRL). Rumours are that a drilling contract has been awarded and that mobilisation activity has commenced.

3. Texas - varying interests (20% to 25% in already producing wells). Plans to ramp up production are underway. 2 of 4 payzones in one well have just been fracced (stabilised flow rates yet to be announced) with the frac crew returning shortly to complete the remaining zones. Scope to ramp up production and increase cash-flow here.

4. Trinidad & Tobago - HOA completed some time ago, with a 10% interest to be acquired in a producing company which owns its own rig. Plans to similarly ramp up production and target the deeper Herrera formations in the licence, which can be achieved using company owned rig. Pete Landau has openly expressed a desire to increase our exposure here. Monitor's own deal to acquire 90% of SOCA (the T&T company) recently cratered, which could create an opening for RRL. Again, the rumours are that we will be taking a higher percentage.

5. Columbia - again, the rumour mill suggests that RRL are interested in snapping up certain assets in Columbia (as reported in Evening Standard - http://www.thisislondon.co.uk/markets/article-23928088-takeover-rumours-make-a-splash-in-water-sector.do). Mark Patterson is a key player within the Range ranks and has links with existing E&P players involved in Columbia (which would appear to add credibility to the rumour).

6. Timing - as fate would have it, RRL will shortly embark upon two company-making campaigns in Georgia and Puntland. Clearly a lot of this will provide a short term floor to the share price before intial drilling results begin to filter through.


yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

&

http://brokermandaniel.com/2011/03/02/range-resources-hotting-up-in-the-city/

Range Resources. Hotting Up in the City!
i 23 Votes


Shares in Range Resources (RRL), which I have blogged on several times on the BMD site, are surging ahead as canny investors pile into the stock ahead of drilling in Georgia {onshore{ (spud April) where the company will be testing 750 million barrels of oil equivalent of upside. After that, the campaign moves on to the onshore exploration in Puntland, Somalia where Range are partnered with Africa Oil who are scheduled to spud the first well before the end of the second quarter of 2011, and where the upside potential is in the billions of barrels. Range has already established itself as a producer in the US (Texas) but the upcoming drilling activity could lead to a company-changer for investors/company.

As foretold here on the blog the 25p minimum target is nailed on and investors should see this as a base for an increasing sp once it is breached and breached it certainly will be!. The 50p minimum target in the run up to pre Georgia/Puntland is looking ever more likely as City watchers look on as investors zero in on Range. It is now widely being accepted from within Brokerages that Georgia and Puntland are potential game-changers.

And as past history should have taught investors potential and expectation are drivers of company value. I recall posting on Encore and Nautical,Xel,Gkp,Chariot etc at various periods that they could be going Major and major they now are. I am now beginning to think that Range Resources are increasingly looking likely to at the very least treble from where they now are pre-Puntland/Georgia the value indicators here hold much potential. There just seems to be a certain inevitability about them. The exact same inevitability that has seen meteoric rises for Nautical,Encore,GKP etc.

They were one of the best performing stocks of 2010 and are also in Trinidad Ranges Range of plays has been well thought out.

The key here for serious investors is research.

Investing and holding here for Georgia and puntland should be the objective.

They are currently still trading way under-value given the weight of interest that is certainly going to begin to keep ratcheting the sp ever upwards. The Markets are expecting a busy few weeks as investors begin to switch on here.

Any success in Puntland and Georgia and you can kiss good bye forever to the 60/70p pre spud sp that some analysts think could be reached.

Range Resources could be going Major and a 300p/500p share price isnt out of the question all depends on Puntland and Georgia!

Better inside the tent pissing out then outside the tent pissing in! They are on the march. Eyes on here!

Viva!

Daniel

Bought back in the isa in the dip and already up....fabulous share this....

oooooooooooooohhhhhhhhhhhhh you make it sound so sexy when you talk dirty gibs, 3-5.......oooooooooooooo

lol bb! well done rf

also bought srx lunch time - already up there too

kerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnngggggggggggggggggggggg

I have to thank "what's hot" for bringing this to my attention, a big thank you !....

gibby

You forgot to say post 353 was a ..... Summary of RRL by Junior-Red

1. Georgia - 2bn OIP over 68 targets. True, but consider that (i) ..........

A very good profit taking so far.
But there is signs now that the bounce back could be on the cards 21.50 / 21.75p

order book has change from being well supported + 1.5M more volume on the offer side (selling ) to being close to only 0.50M now


money am charts again on the rocks so some other one

well i hope everyone in rrl had a good day - i thought we would get a few more points but hey ho - i got a little side tracked by srx after lunchtime and that took off nicely

tomorrow here at rrl - it is friday - will there be continued profit taking as the weekend upon us but who would wanna be outta rrl over the weekend?! tomorrow for me keeping an close eye mainly on rrl / srx & quite a few others

have a good evening all

and well done to anyone who locked in profits - nothing wrong with that either

Some on the know, short the stock on reaching around 18p, and today had to buy back so the large spike it seems .............


from the ft.com......

Range Resources put on 7.4 per cent to 21p as short sellers scrambled to cover positions.

Traders said the exploration company had been poised to launch a 5m equity fund raising at 14p (through Old Park Lane Capital) but decided to pull the cash call at the last minute.

British bulls say this evening ......BUY CONFIRMED

21.750 +1.5000 +7.41%

Candlestick Analysis
Todays Candlestick Patterns:
White Candlestick

Today a White Candlestick was formed. This represents normal buying pressure.

The recent bullish formation leading to the BUY-IF signal is confirmed today. The market seems ready for a new bullish move. It opened today with a gap-up and the days activity resulted in a close higher than the open. This is one of our valid confirmation criteria.

The London Stock Exchange comment / analysis for RRL today

Settlement as of 03/03/2011, at 5:45 p.m.

Vigorous Range Resources Limited Npv (Di) soars as high as 7.41% over previous levels. The stock started the session with some lively movement, kicking off at 20.75, above the previous session's maximum, and then continued to gain during the day. On a weekly basis, the stock is trending higher than the UK FTSE All Share. For the moment, therefore, Range Resources Limited Npv (Di) clearly appeals more to investors than the benchmark.

Status and Trend Analysis:
Short-term analysis of Range Resources Limited Npv (Di) confirms that the security's bullish phase is to continue, with immediate resistance seen at 23.83 and the first support identified at 17.58. Technically, we can expect further upward movement towards new highs in the 30.08 region.

indeed - could go either way today after rns - maybe condolidation maybe a bit more north but with the weekend tomorrow probably south - anyhow according to city rumour ref rrl promtion rrl maybe setting up a seperate entity for its trinidad ops - lol


Range Resources LTD (RRL)Add to Alerts list


Friday 04 March, 2011
Range Resources LTD
Response to ASX Price Query

4th March 2011


The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000


By e-lodgement

RE: PRICE QUERY

I refer to your letter dated 3 March 2011 in relation to the recent change in
price of the Company's securities and respond as follows in line with the
numbers of your letter.

1. The Company is not aware of any information concerning it, that has not
been announced and which, if known, could be an explanation for recent
trading in the securities of the Company;

2. Not applicable;

3. Range recently announced a number of key milestones for the Company across
its development and exploration assets, including;

- the securing of the drilling rig for its Georgian exploration program;

- anticipated mobilisation of the Georgian drilling rig expected March
2011, and planned spudding in April 2011;

- commencement of drilling at the East Texas Cotton Valley Project; and

- successful fracture stimulation of the lower two zones on the Russell
Bevly well, with the upper two zones to follow later in March 2011.

It is anticipated that further updates on the Company's activities will be made
with respect of its assets over the coming weeks as events occur, as indicated
in the recent announcements from the Company.

The Company also notes that its Executive Directors have been in London on a
promotional visit, further increasing the awareness and activities of Range to
a wide range of the London investment community, at a time of increased
activity across the Company's portfolio of assets.

Since the release of the announcements referred above, the share price has
increased significantly (with volume) on its AIM traded shares (with ASX
following).

4. The Company confirms that it is in compliance with the ASX Listing Rules.


Yours faithfully

Peter Landau
Executive Director
Contacts


Range Resources

Peter Landau
Tel : +61 (8) 8 9488 5220
Em: plandau@rangeresources.com.au

Australia London
PPR Tavistock Communications
David Tasker Jonathan Charles
Tel: +61 (8) 9388 0944 Tel: +44 (0) 20 7920 3150
Em: david.tasker@ppr.com.au Em: jcharles@tavistock.co.uk

RFC Corporate Finance (Nominated Advisor) Old Park Lane Capital (Broker)
Stuart Laing Michael Parnes
Tel: +61 (8) 9480 2500 Tel: +44 (0) 207 493 8188

ABN 88 002 522 009
www.rangeresources.com.au


London

5th Floor, 23 King Street, St. James House, London SW1 6QY
t: +44 207 389 0588, f: +44 207 930 2501

Australia

Ground Floor, 1 Havelock Street, West Perth WA 6005, Australia
t: +61 8 9488 5220, f: +61 8 9324 2400

e: admin@rangeresources.com.au

maybe more northerly movement at srx today or weekend profit taking also