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Strategic Stake in Citation Resources

STRATEGIC STAKE IN CITATION RESOURCES

Highlights

- Range increases its Latin American footprint by acquiring a strategic
stake of 19.9% in Citation Resources Limited (ASX:CTR), with
interest in two highly prospective oil and gas blocks in Guatemala;

- The strategic stake allows Range to obtain non-operating exposure to
known reserves with significant upside potential with a similar owner /
operator project to Range's Trinidad operations;

- The Guatemalan Blocks have proved plus probable reserve estimates (2P) of
2.3 MMBBL (on a gross 100% basis), with significant exploration upside
potential;

- The blocks have had significant previous exploration with the two well
appraisal drilling program currently underway with one well already
successfully completed and flow testing currently ongoing; and

- The second well will spud in February upon completion of current
flow testing program on the first well.

I think they will have to rename this company. How about 'The Grand Old Duke of York'!

The company seems to want to end up with 5 billion shares, PL is like a kid in a sweet shop - does not know when to stop. Why bother with the above, I would of thought it better to keep every penny for existing projects, but no.
HOPE THE COMPANY DOES NOT RUN DRY ON CASH.

PL can always pay the workers with shares if cash runs dry, then we will have even more. lol

even more ............. deluted you mean

Second day moving up with a very high volume again

I would have expected a higher rise by this size of trades, but most likely someone is selling on the rise

Old Park Lane Capital


http://www.directorstalk.com/wp-content/uploads/2013/01/RRL-25-01-13.pdf

And when they were down, they were down. Could they be halfway up next week? No innuendo intended! :o)

Er going on today ending in the red, there had better be more news on Monday, Tuesday--------------

Or perhaps no news at all! ;o)

Sometimes thats better. In the past the sp was fine till we got the news. lol

RMP are matching RRL and they only have cash. They ended blue today. Something tells me do not put anymore cash in here, even to average down. My view only.

Buy, Buy!! Er, no, Sell, Sell!! No, erm, Hold!!

lol

Our own fault, good weekend all.

You too 3m, hope you are feeling better.

Feeling somewhat better thanks kim but not 100% - the snow here is horrendous, if it keeps on nobody will be able to get out. Not a gritter in sight. Hope you are okay where you are. GL

Bonjoir,

Blinking lots of SNOW here "En France".........I did a good move yesterday; we decided to come over to France yesterday at 4:00pm (Pretty handy living in Kent), following seeing the weather forecast; so I made the call to come over..........No sooner arrived, when the heavens opened up with the white stuff.......Freezing in the house.........Log fires are now roaring hot.......Lovely and warm now!

The reason I wanted to share this story; I can make every day decisions, more or less correct, but with share(s)........now there is another story?

Come on Peter, let’s get this tanker turned in the right direction (I liked the past 2 days of RNS's)........Now let’s get that oil out of the ground..........I like that 6000 bopd target, just wish we were there now, not to be 12 to 18 months’ time (A bit conservative that target I feel)?


GLA - Gerponville18

http://www.hl.co.uk/shares/shares-search-results/r/range-resources

It was good to see Range in all BLUE?