MEMBERS ONLY POST. (General release Thursday 23.02.2012)
It’s a critical time for holders of Range Resources. With just over a third of the way through the historical Puntland drill it looks as if day-traders are zeroing in on the stock trying to gauge which way the wind is blowing regarding the result. It’s very easy to check this out. Trading volumes are increasing while sentiment seems to be gathering pace as to when news could come regarding Ranges’ asset base.
A quick check online reveals that there’s over 3,000 different privateers on various forums in the UK alone discussing the stock. In the USA Range are now coming on the radar as they seek to upgrade. I can’t see any major bad news here over the coming weeks. A few blips in the sp here & there. I’ve always noticed when companys begin to approach the half-way mark of a drill that they tend to rise on sentiment. I expect this to happen with Range if past historical events run true to form.
I spoke to the company yesterday but to be honest absolutely no chance of any meaningful news from them. They’ve got it locked down. I don’t have any Somalia pirate friends just yet but I am working on it! (That’s a joke).
There’s an awful lot of back-ground noise on Range from the brokerages. I think most are relying on in-house analysis with COS . The great thing about Range are that they are not a one trick pony; their asset base is substantial although their total production figures as yet do not represent the potential in the company. There’s no doubt that this is going to increase over time. Before we get the Puntland results there’ll be news from Georgia & no doubt Trinidad,USA. Good news from any of these assets will help to move the stock. That’s the opinion of most Brokers. An oil strike in Puntland will send them into orbit.
I like the way the company have gone about their business over the last 12/18 months. Landau has made a big impression but at the same time has kept the company focused with their feet firmly placed on the ground. The management structure is solid & most importantly now experienced in the ways of oil exploration which requires a firm grasp of local as well as national politics. Investors have two choices here as the sp approach’s 20p derisk or hold for Puntland drill results with Georgia thrown in for good measure.