Range Resources. Hold your stock! Wait for the Break-out!

Range Resources

Yes we know it's not the actual logo but it will suffice!

There’s an awful lot of panicky types holding Range at the moment which leads me to believe that the Day-Traders have some what hijacked the intra day price movements.

Range are sat on multi-billion barrel assets the potential is huge. Investors in my opinion are missing the point. Stay focused on why you have invested and hold for the news which is way over-due. The market has set a trading range here of 14 -20p they are continually trying to bring the price down to 14p via market trader tactics. Watch the sp fluctuate on the delayed trades which are being put through hours after the trade. The market is pushing buys through the book on delays when the actual price is in excess of the delayed trade. It is a manipulation of the sp to control the stock. All legitimate I might add. Typical of a stock that is expected to “shift upwards”.

Privateers are being  shaken out. These same sp patterns repeat them-selves many times. (Take Cadogan for example go back two/three weeks and study the trading ranges the daily fluctuations are identical. Cadogan were 24p they are now 44p! ). There is pressure here on the SP that pressure is upward.

News from Range is thus: All is proceeding ahead of schedule. News will come it is over-due! Remember Range Resources are an investment for growth based upon a Multipule Billion barrel potential from their assets! Just like GKP, Encore,Premier, Nautical and XEL the trick is invest after researching throughly this should give you the confidence to hold. 25p is nailed on here and I personally expect 50p to be breached on further operational updates before drilling/spud.




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  1. alex says:

    it was very hard to not sell during the spike to 18p…..it has to be worth holding.

  2. Toby James says:

    I’m keen to hear your views on Roxi after todays RNS… You were very positive about them (“tidy little company” I think your words were) at the time – do we keep our faith in them, or will more bad news follow do you think?

  3. M.A.J.S says:

    You have put into words what other’s beleave but cannot say with clarity as you do.
    Best Regards…keep up the good work.

  4. Holeinthepocket says:

    And Matra Danny ? News today at 08:30 ?

  5. Amit says:

    Hi Dan,

    Been a loyal follower of your blog for a little while. You’ve been excellent so far and I will continue to follow your blog faithfully. Thank you for your hard work. However, I would like to hear your views on RXP. Is this the end for RXP or should we keep the faith and topup now, ready for the future?

    • Brokerman says:

      How is it the end? Read the article by Jackson Black which may give you a clearer under-standing of oil exploration and the success rates. Rxp are a decent little oiler with a strategy to match. Remember if there’s no oil there in the first place no matter how clever the company are, that fact can’t be changed regardless of how well the drills have gone.


  6. OILBUG says:


    Any chance of a blog on xel re CPR rumours going on regarding cpr being published a week early now rig contract signed post todays rns, another rns to be release very soon.

    Target was end of feb first week in March but believe some truth in these rumours love to hear your thoughts.

    whats the citys view


  7. Mr Shaw says:

    I amjust wondering when you are going to analyse and give your opinionon Sound Oil. I thought you were going to do it over the weekend, I would like to hear what someone like yourself has to say.

    Kind Regards

    • Brokerman says:

      Time Sir give me some time. I am awaiting company information.


      • Mr shaw says:

        No problem. I’m fairly knew to your blog and would like to say I appreciate your guideance and knowledge. The atmosphere here is far better than those bulletin boards.

  8. ukmetman says:

    Dan, thanks for the heads up on Cadogan, I just wish you had said so a few weeks ago. I rode it for a 10% gain, jumped off, and couldn’t get on again.
    Ah well, one lives and learns, which proves your point. At least I am well stocked up with Range and this time I won’t sell until it is much, much higher.

  9. Dom says:

    Hi Dan

    Thanks for your tips. I find your blogs very interesting. I hope your correct around the good flow rates you are predicting at MTA.

    You have bought shares in SLE yet you don’t have them as one of your favoured companies, why is this? Also, why don’t you provide more regular updates on SLE like you do with MTA?


  10. merlinjay says:

    Hello daniel, been following your site for 3 weeks or so and must say i am very impressed. Just wondered what your opinion is regarding ATC. I am into atc in a large way (for me) and am amazed by todays retrace of 25%. Do you think that i should hold and wait for the sp to rise or cut my losses and sell now? I currently average 1.2p per share
    Regards merlinjay

  11. Pyeman71 says:

    Also awaiting the MTA updates, hoping all is well on the next rns.
    Regarding Sound Oil, the suspicious looking buy two weeks or so ago made me invest elsewhere as it did seem that foul play was about to unfold. I have kept them on watch and not in a rush to jump in with two feet. There does seem to be a lot of hype around these at the moment which is not the reason for me to invest. Glad to see you are taking your time with the research and not rushing due to some of these demands that people seem to place upon you.

  12. Tara Summings says:

    Heads up on SOU bmd. Captainnelsonforties who is respected by JTCOD has bought SOU.

    He has SOU as fairvalue at 10-15p NOW!. He has also been 100% correct on EO./NPE/GKP and CAZA in the last 12months.

    s/p currently 3p due to a overhang which is clearing

    CaptainNelsonForties – 14 Feb’11 – 09:13 – 2602 of 2602

    Well current cap is around £45m.

    NPV10 of Italian discoveries currently sits at $226m, cash at $16.5m

    Total of $242.5 or £151m approx (10p/share).

    Why are the exploration targets a potential company maker:

    Indonesian first as imo they won’t be further farmed down before drilling

    Bangkanai 5% free carried

    P50 1.4tcf in Kerendan deeps (2.8tcf upside P10). That is P50 net 70Bcf or about $70m dollars. A P50 discovery would be worth more than the current cap to SOU therefore a company maker.

    Jupoi P50 3Tcf

    Net to sou on a P50 discovery is $150Bcf worth about twice the current market cap at $1m/bcf in the ground. That is just the first two free carried targets. Upside on Jupoi is 7Tcf if they hit close to the P10.

    Again those two both have extremely high exploration risk.

    Citarum 20% interest

    Cataka P50 440Bcf or 88Bcf net to sou, similar potential to Kere deeps then

    Jatayu P50 380Bcf or 76Bcf net to sou,

    Lodaya P50 640Bcf or 108Bcf net to Sou potential between kere deeps and Jupoi in terms of impact to SOU.

    Any one of the above is worth more than the current cap which would value the cash and discoveries in the price for free. That is assuming that one of these is successful. With exploration you just never know you could get anything from these wells to all P&A to some discoveries. But the exploration potential is clearly high for them all.

    Italy is a little more complicated as its currently 100% wi on both Badile and Zibido. Clearly they’ll want to farm that down so potential will be farmed down too. But currently they’re 153Bcf and 130Bcf, even at 50% interest given the Italian gas price upside would be significant if either were successful.

    Captain Nelson Forties

  13. OILBUG says:


    update interesting article on oil barrel re Ambrian negative note on Monday -be good to hear the majority of city views. All other brokers very bullish with £6 target short term re cpr.

    wrong info seem to be regarding bentley alliance has a interesting way for paying for development.

    love a blog to put facts right !!!!!!!!!!!

    • OILBUG says:

      ps we talking xcite energy posters re my post

      • Phil B says:

        what sort of interesting way of fundingdevelopment? The funding question is the only thing holding XEL back at the moment. I cant see how Xcite can raise a high level of debt against the company because Bentley is their only asset and a large debt position would be very risky for a bank, especially in the current climate.
        What have you heard?