.

How do you know that at this time of night DC?

Good question. lol selling up to 4.30pm lol. There has been talk of a big seller for a time. 100,000 lots.

Cannot see this dividend now or a share buy back at this sp price from the sale of Texas. Going to need the funds to fund Puntland, TT, and Colombia. Has the company overstreched ?The company will need vast sums to develope these assets and TT
being so slow will not do it. Just wonder were Range is going. Will find it hard to raise cash with a 7p sp . Just an idea will Range need a partner for the future or be heading for a buy out.

Horn ended up 15.33%

Time to give up.Clutching at straws and David Lenigas is certaly not going to help maatters. Speak tomorrow.

spelling mistakes I apologise for.

Another appauling day back at the range. Had another one of mine suspended from trading today. Sincerely hope you are all doing better than myself.

http://www.theaustralian.com.au/business/mining-energy/range-to-spin-off-somalia-assets/story-e6frg9df-1226375568273


Full article...

"THE Australian market's affair with the controversial Somalia exploration assets of Range Resources looks set to come to an end as the company prepares a spin-off of the projects on to London's AIM board.

Speaking to The Australian at the ASX Small to Mid Caps conference in Hong Kong, Range executive director Peter Landau said the spin-off would help focus attention on the company's other assets in Trinidad and Colombia.

THE Australian market's affair with the controversial Somalia exploration assets of Range Resources looks set to come to an end as the company prepares a spin-off of the projects on to London's AIM board.

Speaking to The Australian at the ASX Small to Mid Caps conference in Hong Kong, Range executive director Peter Landau said the spin-off would help focus attention on the company's other assets in Trinidad and Colombia.

Range's joint-venture partners in Somalia, Horn Petroleum and Red Emperor Resources, are covering the company's share of costs in the first two exploration wells.

The first well this year intersected oil-bearing sands, but it remains to be seen whether the reservoir is capable of flowing oil at commercial rates.

Drilling of the second well is to begin soon.

Away from Somalia, Range is focusing on lifting production in Trinidad from about 800 barrels of oil a day to about 2500 by the end of the year, a lift that would see the company generating about $30 million in free cashflow.

"Trinidad is always going to be the focus. It's got 15 million barrels of (proven reserves), so we can't spend the money quick enough," Mr Landau said.

"Every time we put another well in we're getting between 50 and 100 barrels a day.

"These wells are paying back in two to three months, and they'll keep going for 20 years."

Range is also set to shortly begin a sale of its oil and gas assets in Texas, which Mr Landau said should fetch about $50m to $70m in the current market.

The proceeds from that sale would be invested into Range's recently acquired acreage in Colombia. Range has the right to earn a 65 per cent interest from two licences in the Putumayo basin. "

Must be an RNS about the above.

If this is in the company best interest ok. Again if games are being played to de- risk
then this will do huge damage to the company like we are seeing now, with a large sell off.

Range is also set to shortly begin a sale of its oil and gas assets in Texas, which Mr Landau said should fetch about $50m to $70m in the current market.


From the above PL has said in the past 100 - 150 million another big talk up.


The proceeds from that sale would be invested into Range's recently acquired acreage in Colombia.

Dividend gone out the window that PL stated. WE WONDER WHY THE COMPANY IS SITTING AT 6P WHEN THE GOAL POSTS GET SHIFTED ALL THE TIME.

Just wondering if Puntland will be set up on the AIM like Africa oil setting up Horn
as a subsidiary.
I also wonder why ?

Beginning to think this will not go down well with existing shareholders this late on
in Puntland. If it was announced at the start you take your choices.

Of course thats if the company sets up this way.

Should be a RNS tomorrow

Sorry to say this but totally cheesed off with the lot at the moment - no wonder so many are selling this and heaven knows what it happening to the rest of mine, the world is upside down as we know but this is ridiculous. At least you made some the other week on one of yours DC thankfully but I am sure that it doesn't carry the rest.

Hi 3m,

Not good if this goes up 100% only puts it at 12p . Not many investors shouting that they are making money. Do not know the set up of the above yet. If we get shut out from
Puntland and they find a huge oil find investors are going to be none to pleased.
Or they are not confident and dont want it to make the sp any worse with not so good news. I dont think it looks good whats going on., in my op only.

Makes me laugh we are the investors and we learn last of a huge company change like this. There should of been an RNS today, not much use when we all know now.
This company is not helping itself.

If the company spins Puntland off. Who on earth will invest in it without major questions being answered.
The public investor I would think will be very wary to invest. The institutions
may be the only winners.

One thing for sure the market will be looking for a VERY CLEAR/ PRECISE RNS .
If a foggy RNS is presented and is taken bad would not like to guess the consequences.

Mental institutions the way it is going will be the winners. If this every got anywhere near 12p which I doubt for the forseable future I will be gone, if I haven't left this world before that achievement. Enjoy the rest of the evening - all the worrying, researching or whatever isn't going to make any difference, just another pile of dung to have the burden of.

Have a good evening 3m.