Post by Rexco on Jul 1, 2014 9:53:09 GMT
"Range Resources
I had a long meeting with Range last Friday, I wanted to catch up after so many announcements and to ensure that my positive stance on the shares was justified. Also I notice that the company has done a team interview on Proactive Investors, has a conference call scheduled for this morning ( I listened, it was professional) and is presenting at the Oil Barrel conference tomorrow. The confidence that is shown by the management, specifically Rory Scott Russell the CEO, is indicative of how much progress the team has made in a few short months.
When I met Rory for the first time he had only been on board for seven weeks and the scale of the problem was daunting, it should not be underestimated quite how much has been achieved in such a short space of time. I don’t intend to go into detail again, it is all with hindsight obvious, but clearing the debt, the deals with Land Ocean and Abraham and the concentration on Trinidad have set the company up well, new, high quality management is already in place and the goons who got them into this mess should be history. I was lucky to find such a recovery when I did, since the first recommendation the shares have already tripled, the blog now calls it ‘doing a Range’ which is fun. I would finally say that when I first put the shares on the buy list there was an inevitable caveat in the risk factor of it not working, I now feel that I can say that the risk factor has gone to a large degree and that my next target of 5p is very achievable, I hope to be at Oil Barrel tomorrow so see you there."
I had a long meeting with Range last Friday, I wanted to catch up after so many announcements and to ensure that my positive stance on the shares was justified. Also I notice that the company has done a team interview on Proactive Investors, has a conference call scheduled for this morning ( I listened, it was professional) and is presenting at the Oil Barrel conference tomorrow. The confidence that is shown by the management, specifically Rory Scott Russell the CEO, is indicative of how much progress the team has made in a few short months.
When I met Rory for the first time he had only been on board for seven weeks and the scale of the problem was daunting, it should not be underestimated quite how much has been achieved in such a short space of time. I don’t intend to go into detail again, it is all with hindsight obvious, but clearing the debt, the deals with Land Ocean and Abraham and the concentration on Trinidad have set the company up well, new, high quality management is already in place and the goons who got them into this mess should be history. I was lucky to find such a recovery when I did, since the first recommendation the shares have already tripled, the blog now calls it ‘doing a Range’ which is fun. I would finally say that when I first put the shares on the buy list there was an inevitable caveat in the risk factor of it not working, I now feel that I can say that the risk factor has gone to a large degree and that my next target of 5p is very achievable, I hope to be at Oil Barrel tomorrow so see you there."
