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Range Resources (LON:RRL) slipped 7% to 8.9p during afternoon trading on decent volume. The shares have been battling with the 10p level for the last few sessions, even after what looked like bullish news yesterday, sellers were still pressing the exit buttons during trading today. The update says everything we need to know, the drill bit was at 3,425 meters yesterday, and they announced they were pushing on to the target depth of 3,800 meters. Possibly long term holders here will be looking for the final update over the coming weeks before making any rash decisions.



Read more: http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Chariot_Oil_Gas_Matra_Petroleum_Bahamas_Petroleum_Range_Resources/130c877dd8fc.aspx#ixzz1uxYVnad2





http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Chariot_Oil_Gas_Matra_Petroleum_Bahamas_Petroleum_Range_Resources/130c877dd8fc.aspx#ixzz1uxWcRH99

Cannot work out where FoxDavies is getting its sp projections/forecasts from. My post
3708 they forecast a sp of 27p for Range. Then the post above they state ''The shares have been battling with the 10p level for the last few sessions'' When do they think we will reach 27p ? I cannot see it in the near time. Also ''Possibly long term holders here will be looking for the final update over the coming weeks before making any rash decisions''. Other than jump ship What RASH decisions are they going to make.
Do not like the way FoxDavies are coming over with this share.

It is going to cost money for me and I am sure you also DC to jump ship at the moment it is becomming an increasingly pain in the butt. May be there are too many operators and too much political pressure, no idea really, just a thought.

We just need result in Puntland along with the rest of the news and it will be a different story for this company .

MTA doing ok for you 3m ?

Yes thankfully. God knows who needs it most, lost nearly £1000 not having access to a computer weeks ago think I told you but maybe I didn't - head has been up my .... for weeks - time something good happens, a dangerous game we play and of course not being the experts it is the price we pay. MTA seems to be looking good but who knows things can change by the time one goes to urinate so to speak. How are the rest of yours doing? I am down 65% overall with my load of bad choices, hope yours are not that bad. Thought Balerboy was an outside man and would have known an Acer was a plant as well as the name of a computer hahahaha!!!!!!!

Even taking into account the current climate with the update you would have expected for the SP to hold but there is no stopping it going south. There is something going on with this share. Even though the buys outweigh the sells, there could be a big seller out there !
I thought yesterdays RNS was soft, not telling us much more than we already know. Even when talking about the wire log tests, there were no timeframes, yet to be agreed. Reading the AFR update this morning, they said that wire log tests will take 2 months. Investors are panicing and dumping these because there is little good news coming out !

thats why i sold and invested else where......for now.,.

Don't blame you one little bit - enough is enough. At least you did not loose out thankfully.

3m, dont ask. In a climate we have how can you invest ? Day trading is my way forward . In and out . Got out of a lot. Hope all goes well in MTA and the rest recover for you.

On the RRL front Each investor can only make up their own mind to sit tight for the time being or move on.

ll's will always be the winners . The public investor invests early on puts up with all the fund raising, risk etc,etc. Then the ll's come in when most of the risk has gone
and if the company still exists and a lot of the public investors have been and gone.
They are the sensible ones waiting for operations promised to happen, ok they perhaps will not quite make as much profit as the early birds in the long run.

Have you had too many Gins tonight DC.

lol, I hope you have the curtains shut when you sit by the window, the neighbours must be talking.lol Lets hope not much longer.

No I cant up early in the morning.

3M My Virgin internet oftens falls over and dies for parts of the day. I also have a £10pm 3Connect dongle which I can plug in during those times. I treat it as a £10 pm insurance policy.

Texas & Trinidad update

http://www.moneyam.com/action/news/showArticle?id=4370147

Superfluous!

Excellent all we need now if for it to go up and up.

The markets are just bloody awful.....but we might see a good increase if they get some flow rates.....otherwise another long wait until the following well results or the market gets better......miserable all round at the moment.....best to just sit on your hands and wait for better days.....

http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Range_Resources_Ophir_Energy_and_Chariot_Oil_Gas/f1246cfcca2f.aspx

Wednesday, May 16, 2012
Range Resources (LON:RRL) slipped 4% to 8.7p during early trading even after the company said that the report on its North Chapman Ranch field in Texas confirms a significant increase to the company's proved reserves by as much as 50%, while in Trinidad, progress continues to gain pace in the development program of the shallow Lower Forest Horizons within the Morne Diablo field. Company estimates it has: total oil reserves of 19.6 MMbbls, or million barrels, in Trinidad, and 3MMbbls in Texas; 3.2 Bcf, or billion cubic feet, of natural gas in Trinidad and 27.7 Bcf in Texas; and 2.5 MMBBls of natural gas liquids in Texas. If the market was not another 50 odd point off when this update hit the news wires, possibly the market would have reacted more favourably.