Post by JimmyRobby85 on Jan 29, 2014 7:38:56 GMT
Just wanted to highlight some facts after reading some of the other board comments (other boards). Ill start with the most depressing fact
52 week high 5.9500 20-02-2013
52 week low 1.1250 28-01-2014
52 week change -2.7850 (-69.63%)
4 week volume 333,645,420 02-01-2014
Most of us are down more then that 69% too
Other facts
Texas - Promised weeks, months and days away on multiple occasions via RNA and other sources, then not resulted in anything. It's being missed off several RNAs in the past but that meant nothing. Most recent update suggest it could complete in the next few weeks (around 31st Jan).
RBL - Promises as above that its being weeks away back at the start of 2013, summer 2013 and most recently November via message boards and RNA. We are still waiting for sign off and we have heard several reasons for the delay.
IOP - We are told that the original terms of the merger are off in official RNA, IOP claim to their investors they still want the other part of the cash in terms of the original terms. IOP stil have a large bulk of our sums that are due to be paid back by no later than late April. Recent RNAs and discussions with PL (shared by RIG) suggest this isn't going to be sorted in the coming weeks (one can only hope)
MD248 - Again, promises of this completing to its target depth on several occasion via RNA and lots of hints or insider info saying is hit (wait announcement) or they are waiting for x and we have heard this over the last 18 months. STILL NOT COMPLETED, nothing to tell us it's actually drilling. Last update suggested RIG was back on site (oct/nov) and was awaiting approvals.
Other rigs - Promises made via official RNA that all six rigs would be drilling back in 2013, RIG meeting with Range in December highlighted that rig 7 was a spare parts rig and that all six rigs couldn't be drilling for that reason, So a blatant lie by the company via official and non official channels stating we would have all six rigs drilling - NO DRILLING DONE BETWEEN JULY AND OCT 2013 at all?
? Odd one (Petro releases)
Drilling programs - Go back and look at our projecting times for drilling X Y and Z. The latest one back in November time, which we are already behind. Check ones from early last year and mid summer. We are so far behind our own schedule its shocking.
Guat - The details on Guat didn't come from the message boards so all those claiming to be in the know, knew nothing of it. Does that tell you something?
Loans - Due to lack of funds Range have borrowed money on what seems to be shocking terms and this has resulted in dilution of our shares, damaged the share price and damaged the company. If all the above were true why would that happen?
Latest news of new MD - Now looking at the above promises that have come via official RNAs and not come to fruition I do panic that this latest information regarding a new MD may not work out as many expect (I bloody hope it does)
I was going to pull off all the RNAs but that would be depressing lol
How could things change? Share price?
Well I always invest looking at MCap vs Fundamentals of the company, I understand Range are short of cash to push up its operation in Trinidad but looking at the current MCap which values us near to the £40-£45 mil I'm lost. The company is worth more in scrap metal to be honest
Trinidad was bought for around $60 mil - including shares given at the time, we have increased acreage and although some may doubt this our BOPD has slightly increased lol
Guat - Income stream from our 10% stake in LAR and we own 19.9% of CTR
Georgia - I'll wait for this
Texas - Even in its current state of affairs it seems it's still worth $30 mil on its own
Puntland - 20% stake, not sure on any valuation but I value it at 0 at the moment
Colo - no funding again
It seems our main sticking point is funding, something Range are struggling to sort. If Range do indeed get RBL sorted and Texas sold, then an OSP with a few new rigs to join the fleet the SP will flip and quickly too. Its all ifs though and Range is a massive gamble until it happens (to many failed promises as above)
Well just felt like having a brief look at Range this morning and a little rant to get things off my chest, I've probably missed stuff (a lot of stuff) but this may help anyone looking at Range or looking at their investments.
52 week high 5.9500 20-02-2013
52 week low 1.1250 28-01-2014
52 week change -2.7850 (-69.63%)
4 week volume 333,645,420 02-01-2014
Most of us are down more then that 69% too
Other facts
Texas - Promised weeks, months and days away on multiple occasions via RNA and other sources, then not resulted in anything. It's being missed off several RNAs in the past but that meant nothing. Most recent update suggest it could complete in the next few weeks (around 31st Jan).
RBL - Promises as above that its being weeks away back at the start of 2013, summer 2013 and most recently November via message boards and RNA. We are still waiting for sign off and we have heard several reasons for the delay.
IOP - We are told that the original terms of the merger are off in official RNA, IOP claim to their investors they still want the other part of the cash in terms of the original terms. IOP stil have a large bulk of our sums that are due to be paid back by no later than late April. Recent RNAs and discussions with PL (shared by RIG) suggest this isn't going to be sorted in the coming weeks (one can only hope)
MD248 - Again, promises of this completing to its target depth on several occasion via RNA and lots of hints or insider info saying is hit (wait announcement) or they are waiting for x and we have heard this over the last 18 months. STILL NOT COMPLETED, nothing to tell us it's actually drilling. Last update suggested RIG was back on site (oct/nov) and was awaiting approvals.
Other rigs - Promises made via official RNA that all six rigs would be drilling back in 2013, RIG meeting with Range in December highlighted that rig 7 was a spare parts rig and that all six rigs couldn't be drilling for that reason, So a blatant lie by the company via official and non official channels stating we would have all six rigs drilling - NO DRILLING DONE BETWEEN JULY AND OCT 2013 at all?
? Odd one (Petro releases)Drilling programs - Go back and look at our projecting times for drilling X Y and Z. The latest one back in November time, which we are already behind. Check ones from early last year and mid summer. We are so far behind our own schedule its shocking.
Guat - The details on Guat didn't come from the message boards so all those claiming to be in the know, knew nothing of it. Does that tell you something?
Loans - Due to lack of funds Range have borrowed money on what seems to be shocking terms and this has resulted in dilution of our shares, damaged the share price and damaged the company. If all the above were true why would that happen?
Latest news of new MD - Now looking at the above promises that have come via official RNAs and not come to fruition I do panic that this latest information regarding a new MD may not work out as many expect (I bloody hope it does)
I was going to pull off all the RNAs but that would be depressing lol
How could things change? Share price?
Well I always invest looking at MCap vs Fundamentals of the company, I understand Range are short of cash to push up its operation in Trinidad but looking at the current MCap which values us near to the £40-£45 mil I'm lost. The company is worth more in scrap metal to be honest
Trinidad was bought for around $60 mil - including shares given at the time, we have increased acreage and although some may doubt this our BOPD has slightly increased lol
Guat - Income stream from our 10% stake in LAR and we own 19.9% of CTR
Georgia - I'll wait for this
Texas - Even in its current state of affairs it seems it's still worth $30 mil on its own
Puntland - 20% stake, not sure on any valuation but I value it at 0 at the moment
Colo - no funding again
It seems our main sticking point is funding, something Range are struggling to sort. If Range do indeed get RBL sorted and Texas sold, then an OSP with a few new rigs to join the fleet the SP will flip and quickly too. Its all ifs though and Range is a massive gamble until it happens (to many failed promises as above)
Well just felt like having a brief look at Range this morning and a little rant to get things off my chest, I've probably missed stuff (a lot of stuff) but this may help anyone looking at Range or looking at their investments.
