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http://brokermandaniel.com/

Range Resources. Peter Landau. Smoke & Mirrors.
Posted on May 31, 2012 by Brokermandaniel
Just what is going on at Range Resources these days? We’ve backed this company for the last few years through the highs of 25p to the lows of 5.65p this year.

I believed what the company were telling us. The fantastic prospects in Somalia, Georgia, Trinidad, USA & more recently Colombia. We checked, researched & checked some more and spoke to all & sundry about the competence of the Board all came out with a clean bill of health, sentiment from within institutions was riding high.

However over the past 12/14 months nagging doubts had begun to surface. At each and every turn Peter Landau has moved the goal-posts. We had the great Georgia oil drill which has now changed emphasis to gas; The great USA asset sale with a promise of a share buy back or a return of funds to investors, it’s apparent that this just isn’t going to happen (which is exactly what we opined to our Members when Range announced it!). That was when we began to urge caution.

Now we have Peter Landau speaking to the Australian press about hiving off Puntland into a total “New” entity. Just what Landau is doing is this. He is deliberately testing the water by floating this idea in the Australian press to see how it pans out for future implementation, it’s the oldest trick in the book of spin “Briefing the press” to see how it goes down with the great unwashed. It is no coincidence that the share-price has been in free fall for the last 2 months or so. Institutions must have known. One more important point on this. How dare Landau brief the Australian press on such an important matter as this? It is market sensitive information whether Range act upon it or not! This shows Landau has a complete disregard for Private Investors. Or is it as some think that Puntland is being hived off because it isn’t going commercial? An infected leg that needs to be amputated in-case it all goes wrong? Come on we want answers. We need immediate clarification on this matter via an RNS now!

The share-price stands at virtually where it was in 2010. Landau has presided over a drop in value that would take a 300%+ rise to get back to where it was in 2011. We have witnessed broken promises and dilution upon dilution, failure in Georgia; Oil to Gas; Deliberate obfuscation on Puntland (which doesn’t bode well for the ultimate result). Double speak on the USA assets along with drops in the value. Who in the name of God has come up with a value of $50/70 million dollars? That’s a 40% difference between top & bottom value! Ridiculous!

All is not going well here at Range Resources Peter Landau (A likeable chap and on the surface a decent human being) may very well have sold us all a pup.

Viva!



Dan

Found it 3m, hmmmmmmmmmmmm I have said a lot of what he is saying,only he is a bit more blunt.

Doesn't help us does it? Don't even think PL will get his finger out despite whatever is said - the Ausssies have never seemed to be fond of this share, go back to the 2AXS enquiries when it all started on the downwards slope, maybe it is me but things weren't right then. Ah! well just hope it doesn't go completely t.ts up like so many others UUGGHHH!!!! now they are saying the weather could me mixed for the weekend, sounds about right.

Far from being comfortable 3m. So many investors want out now. As said before this is not the company we were lead to believe in investing in. The company is in casualty
and fast heading to intensive care. Far from good.

I am too old to even think about standing on the street corner to even begin to earn any money, (so many losses), they would probably ask me for change. Now I am JOKING, just have to sit it out now unless in my case get out and loose half. Then I know what would happen PL would pull an instant rabbit out of which ever hat he would be wearing at the time and up they would go. Don't know what to do for the best and am sure you don't either.

Gibby very quiet yet again!!!

Just got back from a dog walk, while there was a break in the very much looking rain clouds. Perhaps he sold out ? We seem back to square one. Just have to hope the sp goes in the direction of 7,8,9 etc.

Unfortunately needs to be an sp of 11p now for me as I topped up like a fool. That is the name of this unfortunate game, worse than having money in Lloyds Bank years ago. Think it is going to be Gazebos if we need to do anything outside this weekened. Typical. At least we are still breathing!!!!!! With baited breathe I must confess these days.

Far from a fool at the time all looked very good 3m. Have you got your union jacks out
the window. lol

Not out the window DC but got two hanging out of my planted hay rack at the side of the house, got two mixing with the horse Shir on my patio and bunting waiting to go up but as I cannot get up ladders will have to wait for some help. My Sister was taken to the Coronation, apparantly sat on my Dads shoulders whilst I, being the youngest had to stay indoors at my Aunties house obviously in London. What an achievement for Elizabeth - so proud to be British and proud to have been born to Southern Parents despite the fact my Sister and I are Northerns twas obviously not our parets choice but neither was the 2nd world war.

Remember the 1977 silver jubilee. Only 11 at the time. Seems like yesterday, not 25
years ago. Hope the next 25 yrs go a bit slower. Went to two parties one in the street in Harlow new town, when we lived there. Also at my aunts in Romford Essex.
Good times back then. Neighbours dont know each other anymore. (well not here) perhaps they sit in all the time on the internet .

Correction 35 years ago. lol

Horns AGM this afternoon. sp up 3.5%

Horn down 10.27%

Horn down 1.16 0.11(8.66%)

Horn price 1.16 - down 0.11 - (8.66%)

Shabeel North spud any day now.

so why is Horn going down, surely this should be going up with the 2nd drill starting soon !

I'm at a lost of what PL is trying to do to this company ! It is obvious that there is a big seller out there at the moment when looking at the B vs S volumes last week. He can hide behind the sad story of the general market and short termers but he is the one who has created the environment by giving target which have not been met. Now investors are finding it difficult to knwo when to believe. Teh announcement in Australia about the Putland spin off is just amazing, if that doesn't cause panic then what will. He needs t oget his brains into gear before he loses his investors everything.

Was going to put more funds in next week to lower my average . Now I am thinking
this is going to drift lower . The trouble with Range now is what do you believe.
Pl in an email I have read has said the American institutions want Puntland hived off. In one way it will get the other assets valued, as Range has become all about Puntland and nothing else.
Again going back to what do you believe, will this be done for the benefit of share holders with greater leverage in Puntland after the hive off. Should be then like Horn RMP.
Or do they envisage not so pleasing oil finds in Puntland ?

Horn down 7.87%