.

well i took a risk a sold a wedge of my rrl yesterday near the high - keeping the proceeds to oneside to buy back - seeking 8.25 / 8.5 target but will consider anything below 9p - more shares for me dough!! lol double win hope they dont fly for a week or 2 but even if rrl does have sufficient left in rrl to make it worth while gla

Yes HC will be a few treeshakes along the way as well, so hopefully 3M everthing should go in the right direction???......

Thanks for that one Grannyboy, hope not too many leaves come off the shaking tree. Get so frustrated at times when everything seems to be going good and then they fall. I know they did not drop much but even so it is a lot on a penny share, if you know where I am coming from. Patience is a virtue or so they say!!!!!!!!! Hope the next thread I post is 'wow look how good are these'.

http://www.proactiveinvestors.co.uk/companies/news/24709/range-resources-may-transform-into-a-major-player-old-park-lane-capital-24709.html


Range Resources may transform into a major player - Old Park Lane Capital
Tuesday, January 18, 2011 by Jamie Ashcroft

Range Resources (ASX:RRS, LON:RRL) will transform into a major player if its Puntland exploration projects prove successful, according to research by specialist City broker Old Park Lane Capital.

This afternoon Barney Gray, analyst at Old Park Lane, published research on Range Resources and its joint venture in the autonomous Puntland region of Somalia.

Yesterday Range, together with its partners Africa Oil (TSX-V:AOI) and Lion Energy (TSX-V:LEO), announced that it has amended the production sharing agreements (PSAs) for the Dharoor Valley and the Nugaal Valley exploration areas.

The amendments will allow Range to spud its first exploration well before 27 July 2011.

This is very good news for Range as it implies that full mobilisation is likely in Q2, providing the company with exposure to multi-billion barrel upside potential, Gray said in a note to clients.

He adds: In November 2010 we increased our risk parameters to reflect the longer lead times for mobilisation in Puntland.

However, with the extension of the PSAs and renewed visibility on mobilisation ahead of a July spud, we are confident that success in Puntland will transform Range into a major player in the E&P sector.

Thanks for that Prose, like they say puntland could hold between 2b-10billion bo, thats only on one licence they have 2??...

This will jump higher than 10p sooner or later....and spudding wells in Georgia or Puntland with backing capital from Texas could send this all the way to the upper teens.....

If any of the foreign wells come right...50 to 100p here we come...the new XEL,GKP or RKH here !, perhaps ?....

Indeed.

That would be wonderful. Don't think I will ever be in 'Sue Ellens' league but I wouldn't mind a stab at it. Thinking more positive now with all your helpful comments.

i prefer rrl to the likes of gkp very much so - simply because of where gkp is - and of course the challenge to 30% or so of gkps business which although may come to nothing adds to the very high risk of gkp - i was in gkp but fully out now - despite rumours of them being swallowed up by a major player (but keeping an eye / ear on that!) additionally with rrl another reason to be confident apart from on & off shore high potential is the fact they have very good contacts with the government there - take a look at the bod - gla
didnt get my target to rebuy my wedge sold - so may buy back anyhow tomorrow as want my full wedge back in quick - when this hits 80p i wont be too bothered about fractions of a penny!! rrl is already very derisked - good share imo

Somalia extends Africa Oil exploration licences

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Written by Reuters

Thursday, 20 January 2011 12:00

Somalia's semi-autonomous Puntland region has extended exploration licences held by oil and gas explorer company Africa Oil Corp and its partners for 12 more months, the company said.

Africa Oil and joint venture partners Range Resource Ltd. and Lion Energy hold production-sharing agreements (PSAs) for the Dharoor Valley Exploration Area and the Nugaal Valley Exploration Area in Puntland.

Puntland has been relatively stable compared with the rest of the chaotic Horn of Africa nation, Reuters reports.

The first exploration agreement for the two blocks has been extended to Jan. 17, 2012, Africa Oil said in a statement late on Monday.

"Under the amended PSAs, Africa Oil is obligated to spud a minimum of one exploratory well in the Dharoor Valley Exploration Area by July 27, 2011," the company said.

"A second exploratory well is required to be spudded in the Nugaal Valley Exploration Area or, at the option of Africa Oil, in the Dharoor Valley Exploration Area, by Sept. 27, 2011."

Africa Oil said the Puntland government had also approved a farm-out agreement in which Australia's Red Emperor Resources will take a 20 percent stake in each of the PSAs -- first announced in June.

Africa Oil is also exploring for oil in Kenya and Ethiopia.

The East African Rift Basin system is one of the last of the great rift basins to be explored. Discoveries have been made in east Africa, including Uganda's Albert Graben, Tanzania's offshore Songo Songo gas wells and Mnazi Bay.

Keith Hill, president and chief executive of Africa Oil, said the company believed the wells in the rift basins of Puntland held similar potential to the geologically related basins in Yemen, which contain more than 6 billion barrels of discovered reserves.

Thanks for that, I am afraid I am a novice when it comes to the investors room so forgive me if I get excited now and again but all looks good.

Puntland spud is all systems go. Exciting times for RRL with USA, Georgia and Puntland all ahead in the coming 6 months.


http://www.proactiveinvestors.com.au/companies/news/13375/red-emperor-resources-to-raise-a11m-for-oil-drilling-in-georgia-and-puntland-13375.html

Red Emperor Resources to raise A$11m for oil drilling in Georgia and Puntland

Tuesday, January 25, 2011

Red Emperor Resources (ASX: RMP) will raise A$10 million through a placement of 50 million shares at $0.20 to clients of Max Capital Pty Ltd.

There will also be an offer of up to 5 million shares at $0.20 to raise $1 million to shareholders of Range Resources (ASX: RRS ; AIM: RRL).

The A$11 million raised will be used for exploration drilling programs in both the Republic of Georgia and Puntland, Somalia.

The first of the three wells are to be spudded this quarter and the significant Puntland well is to be spudded within six months.

Red Emperor's 20% share in the company making exploration blocks amounts to a potential 260 million barrels. The company's commitment to the three exploration wells is fully funded by the capital raising and current cash.

Independently assessed by Gafney Cline Group and RPS Group, these three wells are targeting a combined total of 1.3 billion barrels in place.

The placement was heavily oversubscribed. Range Resources shareholders are to be offered the ability to participate in the placement on the same terms.

Red Emperor has recently reached two key milestones with the signing of an agreement with Range Resources and Strait Oil & Gas (UK) to earn a 20% interest in two prospective blocks in Georgia.

These blocks have been independently assessed to potentially contain over 2 billion barrels of oil.

Also, formal ratification and extension of the production sharing agreements (PSAs) by the Puntland Government pave the way for the first exploration well to be drilled in Puntland in nearly 20 years.

The two blocks in Puntland have been independently assessed to potentially contain up to 18 billion barrels of oil.

In other Red Emperor news, Jason Bontempo will be joining the board as a non executive director.

Bontempo is currently an executive director of International Goldfields Limited (ASX: IGS) and a non-executive director of Glory Resources Limited (ASX: GLY).

He has considerable corporate experience in both Australia and the UK, where Red Emperor plans to dual list later this Quarter.

The company has also accepted the resignation of Kent Hunter as a non-executive director.

Nice update :

http://www.investegate.co.uk/article.aspx?id=20110127072628P8E84

.

http://www.proactiveinvestors.co.uk/companies/news/24990/range-resources-to-save-money-on-new-puntland-well-secures-equity-line-funding--24990.html

Range Resources to save money on new Puntland well, secures equity-line funding

Thursday, January 27, 2011 by Jamie Ashcroft

Range Resource now believes that it is very well placed to fund its comprehensive drilling and development program during 2011


Range Resources (ASX:RRS, LON:RRL) second well in the Puntland region of Somalia will be cheaper than expected, because the AIM-listed junior will be part-carried by its partner Africa Oil Corp (TSX-V:AOI).

Last week Range the joint venture partners amended the production sharing agreements (PSAs) for the Dharoor Valley and the Nugaal Valley exploration areas in Puntland. Subsequently they are now preparing to spud a new exploration well before 27 July 2011.

AOI has now decided to include the well as part of its exploration commitments of the joint venture agreement. As a result Range will be carried for the first US$15 million spent on the exploration well.

Under the agreement, AOI is obliged to spend US$22.5 million in both Dharoor and Nugaal. So far it has satisfied the commitments at Dharoor, however with US$7.5 million spent to date on Nugaal it still has around US$15 million left to spend.

In other Range news, the company has completed a 20 million equity line facility with the Dutchess Opportunity Cayman Fund an investment fund associated with First Columbus LLP.

With the new facility in place, alongside existing revenues, funding and farm-out deals, Range believes that it is very well placed to fund its comprehensive drilling and development program during 2011.

Peter Landau, executive director, said: this facility will allow the company to continue its rapid development of assets.

Importantly the facility allows the company flexibility to draw only as needed and therefore protect our shareholders from unnecessary dilution as well as restrictions on the lender with regards to the borrowing and short selling of Range shares".

Solid update on everything :

http://www.investegate.co.uk/Article.aspx?id=20110131070617P28F1

.

Looking good!! Hope the double figures start soon.

A punt then...

http://www.jpjshare.com/content/news/11-01-31/Take_a_Punt_on_Puntland.aspx

http://www.investegate.co.uk/Article.aspx?id=20110203070000P88FB

Red Emperor Offer to Range Shareholders

3 February 2011

Australian Securities Exchange
Level 4, 20 Bridge Street
SYDNEY NSW 2000

Via E-lodgement

RED EMPEROR PLACEMENT - OFFER TO RANGE SHAREHOLDERS

As previously announced by Range Resources Limited ("Range" or "the Company"),
Red Emperor Resources NL ("RMP") are offering eligible Range Shareholders the
opportunity to participate in a share placement by RMP. This follows RMP's
recent acquisition of farm-in interests in Range's Puntland and Georgian oil
and gas projects. This offer to participate in RMP's share placement is open
(due to regulatory restrictions) to:

* All Range Australian Shareholders; and

* Range UK Shareholders who satisfy the criteria as specified in the RMP
Prospectus, (clause 1.2 Foreign Jurisdictions - United Kingdom), as
summarised below:

"The Offer made under this Prospectus is only made in the United Kingdom to
Certified High Net Worth Individuals, SelfCertified Sophisticated Investors,
Investment Professionals or High Net Worth Companies in the United Kingdom as
defined in the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (each a "Relevant Person").

To qualify as a Certified High Net Worth Individual, an individual must have
signed, within the previous twelve months of the date of this Prospectus, a
statement which contains the information set out in Part 1 of Schedule 5 to the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. To
qualify as a SelfCertified Sophisticated Investor, an individual must have
signed, within the previous 12 months, a statement which contains the
information set out in Part 2 of Schedule 5 to the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005."

RMP is a company listed on the Australian Securities Exchange ("ASX") and a
full copy of the Australian prospectus for the RMP share placement can be found
on the ASX website under the Red Emperor code RMP.

For Australian Range Shareholders please contact:

Matthew Lumb or Max Ludowici - Minc Stockbroking

Max.ludowici@mincstockbroking.com.au

+61 (0) 2 8116 9616

For UK Range Shareholders, please contact your UK broker directly who will in
turn contact Minc Stockbroking

For and on behalf of the Board

Regards


Peter Landau
Executive Director

Has anybody got a clue as to why so many are selling?