.

Executive Director Peter Landau commented:

"There is no doubt that it has been a challenging few months given the
operational delays experienced in getting certain wells drilled in Trinidad and
the softening of the Company's share price.




''THE SOFTENING OF THE COMPANY'S SHARE PRICE'' you can say that again.

It better not go South, the road ends soon.

!2% start is a good signal!

12 mins out and in the red.

What is the famous saying, your investment can do down as well as up!!!!

Agree 3m.

Range Resources (LON:RRL): Something to Brighten the Day – Winter Sun! - Today’s Trinidad update continues to highlight the Company’s focus on the region, and it is easy to understand why. Onshore Trinidad has been largely overlooked in favour of investment offshore, hence the increased access to the acreage, coupled with an increasingly benign fiscal framework, makes investment in Trinidad a highly attractive proposition. Range has specifically focused on developing the ancillary infrastructure as its plans have developed, such that the Company finds itself in the enviable position of being able to execute on its programme, without the need for securing rig contracts and access to service providers. Given that there will be a significant number of new wells and workovers, one of the key concerns that there would have been normally, is the availability of rigs to execute the programme; not so in Range's case. We continue to believe that there is a significant opportunity to revitalise the existing fields, as well as exploring the prospectivity of the undrilled areas within its acreage. As such, we are maintaining our BUY Recommendation and 25p Target Price.

In this news:

• The QUN 139 well drilling ahead at 950 ft. with a revised target depth of 1,300 ft. having encountered approximately 80 ft. of good quality oil sands to 945 ft

• The QUN 135 well finds more than 80 ft. of oil pay and will be deepened after indications of a possible new pay zone near TD

• The Morne Diablo Waterflood programme is currently being simulated / modelled, with completion estimated in February

• The Beach Marcelle programme is looking to commence upon receipt of the approvals to deepen six of the existing wells targeting production of 150-300 bopd per well; and

• The Company has received the final revised farm-out agreements that will see an initial reduction in the enhanced royalty currently being paid by the Company. The revised rates at 1,000 bopd will see net back prices increase to circa $40 / barrel before tax and circa $50 / barrel before tax at 2,000 bopd.

BUY Recommendation and 25p Target Price. Im not saying a word. :-))

What's the source, dc?

Fox-Davies Capital Harry.

http://www.proactiveinvestors.co.uk/columns/fox-davies-capital/11869/gold-oil-providence-resources-and-range-resources-feature-in-fox-davies-newsflash-11869.html

Would it be better to start at say 8p or 10p ?

They are maintaining their limit of 25p - what was omitted "Which Year".

Dreamcatcher,

I agree, 8p to 10p is a more realistic target, from which, with further positive RNS's would then take this share to the 25p target..........12 to 18 months would be my estimate.
IMO, I think our leader "Peter" has realised he can't "bulls..t" the market; tell the truth would of been the better way forward. A gradual rise will do me. Please no more Pump and Dumps. Too much potential in Trinidad, and let’s not forget Columbia, Georgia, and there is Puntland, 18 months away IMO, but, I feel this is not a dead issue.

MM’s have had their fun/money………..Brakes off slowly!

Gradual rise please........GLA.........Gerponville18

Agree G ,If this gets to 25p I will buy everyone a drink. No shorts lol

Does that mean dc that I can only have a tonic water/slimline of course?

That will be a G and T for me Dreamcatcher........Could be a bottle!!!!!

I will stretch to that, ok you can have a G&T lol

Don't push it G. I think your all dreaming anyway. lol

Dreamcatcher:

Dreams, wishes, hopes, desires and patience.........That's the stock market for you.

I only meant a miniature bottle..........Then we can all drink the hoard of Champaign I have been collecting EN France.


Gerponville18

How long has champs got before it goes out of date. :-))