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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

A real yoyo...watch the rebound.....has to go higher.....massive potential plus safe american assets....real winning combination !.

Marked down at the start, a good excuse for the MMs to get the shares they sold yesterday at higher prices on their books.

But the buying is now on so higher prices from the 20p ( for the last 40 minutes ) will be seeeing soon

Up or down today any views..?

The stock is hot at the moment as is in many radars, now get it back to yesterday highs and then to the 30p bid ( rumour )

Just a guess....finish around 22p......topped up around 20p this morning....this company is going places.....

Thanks.

WOW what a lot of sells in approx 40 mins. UGH!!!

Why are they selling ?, the time to do that was yesterday, today is the time to buy.....really nuts....you get the feeling that a lot of people don't know what they're doing.....like sheep off a cliff....no thought put into it....

re - Why are they selling ?

Many reasons
Like you yesterday taking some profits
Its Friday
Institutions it seems are shorting again while the PIs are buying.

This kind of rise is almost always followed by profit taking and then by a period of stagnation till the next rise, naturally hopping higher

It's the timing : I'm questioning....profits should have been taken yesterday, today buying should be happening, not the other way round.....

Now I know, why the sells....the quick buck gang have jumped into SAR......

The sharp rise in the share price of oil explorer and producer Range Resources (NYSE: RRC - news) is as much of a mystery to the company's board as it is to the watchdogs down at the Australian Stock Exchange (ASX (Other OTC: ATKEF.PK - news)

Not a mystery .......loads going on ....a huge chance of a decent strike in Georgia or a mega strike in Puntland (good name that)....

I take it the good name is Puntland - I like it!!!!! Getting a little bit of the gitters but still holding!!!

very happy to have been and gone over the last few days, thus banking a modest profit, which would have been twice as much had i cashed in yesterday

have no intention to sell the Libyan crisis will last at least another 9 months by which time oil will be $200 plus ..

what price RRL in 9 months time..?

even if that so - less than unlikely - RRL would not be my choice of stock ..... would much rather hold AFR, TLW, PMO or perhaps EO. and XEL