It’s been an absolute stinker of a year for Range Resources who released their annual report this week. Range certainly are the masters of under-statement describing the year as a “mixed success” while reporting positive developments on its producing assets, with oil in Trinidad exceeding 1,000 barrels per day in June. Trinidad is now refered to as “Our flagship” What a monumental shift this position is! The primary focus of Range’s operational objectives are now “development plans which continue to meet and exceed expectations from a production and reserve enhancement perspective”. I’ve never read such utter rubbish in all my life. One has to go back to the days of George Orwell’s’ 1984 to read such propaganda. What’s happening here is that Private Investors are being fatted up for slaughter. Another capital dilution. THERE’S A PLACING ON THE WAY HERE MAKE NO MISTAKE ABOUT IT.
Range also tell us of how immensely proud they are of their success in ensuring that the first two (of many) exploration wells were completed in Puntland. It’s all gobbledygook, a precursor to dilution. Yes how proud Peter Landau must be that Puntland was a duster x two. That Georgia has now changed to a coal-bed methane project. “Methane” being the objective word! That the money is running out fast. That the goal-posts are being moved all the time.
Puntland & Georgia are now being spoken of as “Wildcat wells” while the “Lure” to ensnare new funding has been baited and hooked as “Colombia” and “Flagship Trinidad” Don’t insult Private Investors just give us the facts on the proposed dilution. How much and how many?