.

Lets hope so and then we can get yeharring. I bet your not leaving part of your shares to me now (I am pleased to say) haha!! Long may this continue.

Did you see the 2o min Hong Kong Pres 3m.

No I didn't. There is a PDF file to open up and read yet which I haven't got around to doing but will later on.

TT looks good for the future with the water flooding Pete explains about.

Fingers crossed for next week.

http://britishbulls.com/StockPage.asp?CompanyTicker=RRL&MarketTicker=Oil%20and%20Gas&TYP=S

Just listened to the conference, very interesting and an awful lot going on. Well funded it seems and a lot of that black stuff to be had hopefully.

Thought Pl had lost a bit more hair in the conference video, perhaps the stress due to the sp. :-))

Strange this amount of selling, when more driving sp news early next week. Would not want to be out of this over the weekend.

He probably keeps what he has left short so when it all goes it doesn't come as a shock. Cannot understand all the sells myself - IF I had any spare dosh I think I would get some more (do I sell MTA) or do I stay, that is the question I keep asking myself!! Eggs in one basket or eggs in two baskets.

Been thinking the same as you 3m. Not putting anymore in here. Really want to be taking some profit , perhaps soon.

Remember as well you may be given ''free'' shares in Puntland . It will knock this sp.
All taken with a pinch of salt .

Mmmmmmm!! Eggs in two baskets I think, just want news from the other basket soon before it goes further down.

Profit taking slowing, should be a tick up this aft.

There is going to be a lot of profit taken before we break even afraid to say but there are lots out there who paid 20 -25p last year so they have even longer to wait.

OilVoice Morning Movers - Range Resources, Lamprell and Max Petroleum
Friday, June 08, 2012
Range Resources (LON:VOG) announced this morning that it has a significant increase in reserves on a Texan project.

The estimated undiscounted net cash flow value to Range, based on the proved and probable reserve numbers, is $254 million (£164.7 million), up from $202 million in October 2011.

The AIM listed company said with the drilling of the Smith #2 and Albrecht #1 wells, gross current average production from the field increased to approximately 4.5 million cubic feet of gas per day and 394 barrels of oil per day.

Peter Landau, Range's Executive Director, said: "We are extremely pleased with the recent results from our Texas drilling programs, which has confirmed what the Company had strived to do in increasing shareholder value through the increase in the Company's share of Proved and Probable reserves from the North Chapman Ranch Project. This now paves the way for the Company to commence divestment of the Company's interest in the project during Q3 2012. The sales prices of similar production assets in the region have been encouraging, and any such divestment will provide significant funding that could be applied to Range's current activities and other possible corporate initiatives such as an on market share buy back."

Range Resources is currently trading at 8.33 pence a share, up 13.22% on opening.





Read more: http://www.oilvoice.com/n/OilVoice_Morning_Movers_Range_Resources_Lamprell_and_Max_Petroleum/dce7e36e1de8.aspx#ixzz1xCQcj9w6

Range Resources Puts Hydrocarbon-Rich North Chapman Ranch Asset for Sale

Range Resources Limited has commenced preparations for the sale of its interest North Chapman Ranch Project in Texas, United States, following a reclassification that saw an increase in proven and probable reserves of the said hydrocarbon acreage, the company disclosed to the public, Friday.

The Australia-incorporated oil and gas exploration and production company hopes to dispose its 20%-25% interest in the North Chapman Ranch Project by the third quarter of 2012 “so that it can focus its capital on higher value adding opportunities in its portfolio.”

“Any such divestiture decision will be based on market conditions and the ability to achieve a sales price that appropriately reflects the value of the project interest,” Range Resources stated.

Increased Reserves

Based on the review submitted by independent petroleum consultancy firm, Forrest A. Garb and Associates, the North Chapman Ranch Project saw a 64% increase in proven oil reserves, from 5.1 million barrels reported in December 2011 to 8.4 million barrels as of June 2012.

The same report also indicated new estimates of 106 billion cubic feet of proven gas reserves, representing a 65% rise from the previous estimates, and additional three million barrels of natural gas liquids to eight million barrels in proven reserves, also for the same period.

Range Resources' net attributable interests in oil, natural gas, and natural gas liquids subsequently increased by 57%, 54%, and 57%, respectively, net of government and overriding royalties.

The percentage increase in Range Resources' attributable interest, however, did not change proportionally with the increase in "physical volumes" due to "significant reduction in the futures gas price since the previous report", the company explained.

Nonetheless, the company’s net attributable interest is valued at US$165 million in undiscounted cash flow and $93 million at 10% discounted cash flow for its proven reserves alone, based on the Nymex forward strip price as of 7 March 2012.

On market share by back, what do you make of that DC?

Oops! Fell asleep, what's going on? Really looking forward to the Diamond Jubilee celebrations this weekend! :o)