.

That was expected news 6 months ago ?

Maybe PL is out shopping for a new Top Hat, Rabbit and Wand!!!

I think we are looking for to much , the magic is drying up.

If that was the knock your socks off news, this is not going to move much in the next month. One for the shorters

ouch

PL does not help, market waiting for good update /news then he puts this out. Yesterdays gain wiped out. Needs a zip on that big mouth

We are heading to where Horn and Red Emperor went/are Monday/Tuesday........ A shorter's dream.

He is starting to wind me up.

I'll not be buying him a pint any time soon..........That's for sure............I think the saying goes something like........"Could not run a p... up in a brewery”?

What a leader..........Nearly worse than the BANK(s)?

MM's have dropped this this morning, atleast the buys are catching up with the huge selling this morning.

Whilst this share has always been less of a gamble than RMP it has always been just that - a gamble. Decided on just as risky a gamble at OPE instead! Still have a very small holding in RRL. Well, you never know PL may turn out to be a bonza bloke and a mate after all!

Enjoy your holiday 3M, forget the stock market for a couple of weeks!

Thanks kim, 2 weeks tomorrow, now that I have changed my flights to the right year!!!! The stock market has done my head in of late. Maybe I should go without the dam computer.

Ohhhh! Another two weeks of staring at the screen with your fingers crossed 3M!

Afraid it is everything crossed kim. A load of nonsense I have in my portfolio, wish I hadn't joined the Club and kept my money in a biscuit tin. No point in wishing just have the ride the Storm or as it stands these days Storms with very little blue anywhere to be seen. Blue sky in a couple of weeks and that will do me for now.

A little light reading!

(RRL) slipped 8% as it announced that it would commence operations to spud the MD248 well in Trinidad.

The company now has four drilling rigs in operation on the Morne Diablo Block, which is targeting multiple horizons - the Lower Forest formation at approximately 1,000 feet, the Upper Cruse formation at about 2,000 feet and the Middle and Lower Cruse formations at approximately 4,000 feet and 6,500 feet respectively.

The rigs include Rig 8, Range's largest drilling rig. The rig is capable of drilling to approximately 11,000 feet, a depth believed to be sufficient to test the "highly prospective" Herrera exploration targets.

Upon completion of the MD248 well, which is expected to take between six and eight weeks, Rig 8 is scheduled to move on to drill the first of a series of wells targeting the deeper Herrera formation.

"The Herrera test well will be an important step forward in Range's Trinidad drilling campaign, as it is expected to yield critical stratigraphic control at the Herrera level," the company stated. "This in turn will help to calibrate the broader Herrera exploration programme."

The company confirmed it was in the process of finalising the application for the location as part of the its Herrera exploration programme, pointing out that once lodged, approval for the application could take four to six weeks. However, it cautioned investors that the six- to eight-week timeframe "is likely to be subject to change".

Still, in anticipation of the well's approval, the company pointed out that construction of the location would commence "in the next one to two weeks" with the land having already been cleared.

"We are confident that as the drilling programme progresses, Rig 8 will encounter new reservoirs in both the known field plays and deeper objectives," said executive director Peter Landau. "Given the existing infrastructure, any new reserves would be expected to be translated into additional production and cash flow in a very short time."

Investor views

The stock was one of the most-heavily sold among the users of Interactive Investor on Thursday.

"It's early days, but if Range can finish UP or even FLAT on the day today, it'll be the first time for over six months (as far as I can remember) that this will have happened on a day when positive news was released," pointed out user 'trigg1' on the Range discussion board.

He added: "That will be an incredibly bullish sign and will be very important in breaking the 'sell the news' cycle which has long been associated with Range."

User 'Bistable' hoped for another positive imminent statement: "For me, the obvious omission is an upgrade to the last published production rate and I am hoping this will be the subject of an imminent RNS.

"Also expecting another RNS covering the Texas status but it is good to focus on one thing at a time. This is a good progress report - hope it is not a precursor for bad Texas news."

I found this right up from a fellow investor on another thread......Good analogy!

I've looked at the plan released in July. Rig 8 is 8 weeks behind schedule. It’s possible, but I think we'll be lucky to COMPLETE a Herrera this year. Most likely a few weeks into Jan.
Then there's rig 6 which was supposed to be 'deepening existing wells' starting 4 weeks ago. What stage is that rig at?
Rig 7 is supposed to be on line in sept. Again, where are we with that one?
I agree that this RNS is good news but it’s not that good.

The 3 existing rigs, if on time, should have finished up to QN 136 and be drilling or spudding 137, 138 and 139. This is quite possibly on target and if so we're already over 1250bopd and waiting for the figures to be certified.
However. If the Herrera doesn't complete this calendar year and we get no new production out of rigs 6 and 7 I suspect we'll end the year on about 1800 bopd. I personally find this acceptable but I bet it will be taken badly.
The 4000 bopd target for Jun 2013 is still easily achievable.

Should spell "Write up" not right up.......Bad day at the office!

hmmmm . There has been some sort of problems out there, that we have not been told about. I know the rigs were in a poor state on purchase.

Horn down another 3%

What an awful day, pleased you took some profits out of rmp dc.