.

A very late RNS - INVESTOR Q&A

http://www.rangeresources.com.au/fileadmin/user_upload/asx/Investor_QA_Final.pdf

Nothing new - Hence putting it out an hour after close. These Q & A's are a waste of time imho

Thanks to Wrighty 6 on ii


Now a long term play Wrighty6




View Author's profileAdd to favouritesIgnoreAuthor's posts
So it's confirmed...

Rig on the way out
HRN out of cash
New JV partner required
Seismics to be done
Punty to be spun out for RRL

All of this takes a lot of time

Nothing will happen here until 2014. All of the above will take a 1 year then they'll kick off drilling

Landau said '2 wells should be drilled in the next 12-18 months' - that's a year to sort out the corporate and 2 x 30 days for the wells

Simple choice now - sell up if you see opportunity elsewhere or accept a long term hold. Moaning about this and that and analysing the sp daily will drive you insane

Overall I am quite disappointed, as we all hoped for so much, but at least we now know where we stand. No more silly talk of the rig remaining in country and Nugaal spudding next month etc. I hope others find cold comfort from the reality

Commercial oil will be discovered in Puntland and we'll be the first to find it - it's just going to take longer than we all thought


All the best

Where did everyone go?

We are still around.......Not much happening!!!

However, I have listened to the interview with Peter Landau.......Straight talking CEO is an understatement..........I think he has a few more friends now though.

Should start to see RNS's flowing through from now to Christmas, initially the Trinidad drills. All good news I feel, plus the sale of Texas oil field, all should stimulate the SP hopefully?

Listen to the interview.......See what you all think.....If you are all "out there".....Hellooooooooooooooo!

http://soundcloud.com/hoopoe01/pete-landau-interview%C2%A0

I listened and agree that he was upbeat, as ever. We need some results on Trinidad and Texas and show that revenues are flowing in the right direction to push the SP north.

Annual report ended 30th June

http://www.asx.com.au/asxpdf/20121001/pdf/4292jc2hpc6vv1.pdf

Range Resources fully committed to Trinidad
8:53 am by Philip Whiterow The sale of Range’s Texas interests should complete this year, which will allow it to increase its exploration activity in Colombia.
Range Resources’(LON:RRL ASX:RRS) is planning an aggressive development plan for its assets in Trinidad to boost output up to 8,000 barrels per day by 2014.

Production from Trinidad has become the primary focus of Range's operational objectives, it said.

“The company's commitment to its Trinidad operations with respect to financial, drilling and human resource cannot be understated,” executive director Peter Landau said.

“The proposed changes to both existing and 'new well' fiscal terms has further incentivized Range to increase its efforts to ensure that it materially capitalizes on any proposed fiscal changes that may arise,” he added.

Range's work programme through to 30 June 2013 comprises over 40 wells in Trinidad including up to four deeper Herrera exploration targets.

Elsewhere, Landau said Range will continue to fund and drive its Puntland interests either in its current form or through a spin-out vehicle that shareholders will participate in through a capital distribution.

In Georgia, he said Range’s key priorities are to secure a strategic partner in the Tkibuli CBM project and complete the current seismic program on both blocks VIa and VIb.

“These two milestones should pave the way for the company to attract a farm in partner/s of note to assist with the exploration and development efforts in Georgia,” Landau said.

The sale of Range’s Texas interests should complete this year, which will allow it to increase its exploration activity in Colombia.

At least one well and the 3D seismic program will be completed on the Putamayo blocks in Colombia over the coming 12 months said Landau.

Not all gloom and doom then DC!

Hmmmmmm kim :-))

Would be nice if they could sort Puntland out once and for all!

Agree, has 3m missed her plane home. :-))

Maybe she has extended her hols. Wouldn't blame her!

Not with what Im seeing at the moment through the window and thats looking from outside in. lol. Pouring here

Well a big hello folks - no I didn't miss flight or extend hols. wish I had stayed another week as had 4 days of torrential rain and gails then sunshine yesterday when leaving for airport. Had a nice first week though. Got to read my book when I write it - heavens above, had an awful ordeal, with what I would suggest to be a couple of swingers who befriended me when I lost my bun bag too much to tell you but I survived it untouched so to speak. I got away from his grip - shouting my head off. Gee wiz it could only happen to me but alive to tell the tale. (My friends think it is hilarious)!!!!! It dam wasn't at the time. Shares are not a lot to come home to nor the weather. Hope you are all well.

Ah, well I can see a small patch of blue sky out of my window. Oops! It's just disappeared!

Leila Reddy, analyst at Panmure Gordon, predicted exploration spending would ease, but development spending would rise "given the company's target of 8,000 barrels per day by 2014 supported by 40 wells in Trinidad including up to four deeper Herrera exploration targets." She also stated that the year-end cash of $10.4 million suggested the company would "seek funding for its development programme".

Reddy had a 'buy' recommendation on the stock with a 10p target price.

3m!! You're back. Oh dear! That was some holiday eh?!

Good to hear you had a good time 3m, swingers sound like the two in Benidorm. :-))
She can have mine for 10p kim.

Yes Kim some holiday (disgusting) - I reported the incident and had security around my apartment for days but hey ho I did not see them again thank heavens. Respectable looking well spoken southerners in their early 60's. I hope everyone elses shares are doing better in other fields, mine don't seem to change much, must admit I haven't missed this computer nor the stress of looking at these. Lets hope 2013 will be better all round.

RNS out
Decent upgrade in Trinidad reserves