Lets hope this gets through - I'm sure the share would have tanked on the original potential liability news, so lets hope we'll see a steady rise in anticipation of the court approval.
"The agreement between the Consortium and ANH is subject to court approval in Colombia which is anticipated to be received within the next 3-6 months.
Range acknowledges the constructive approach taken by all parties during negotiations and is pleased to have reached a mutually acceptable outcome with ANH. Range has no material assets in Colombia and is now commencing the process of closing its Colombian branch office which is anticipated to be completed during 2018"
RNS Number : 0122K Range Resources Limited 06 April 2018 THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. INDONESIA UPDATE Range refers to the announcement titled "Indonesia Operational Update" published on 22 March 2018. Range confirms that the reported forecast production figure of 200 bopd (gross) has been extrapolated from the Company's 1P reserve estimates of 279,055 barrels (gross). Based on Range's initial 23% indirect interest in the Indonesia project, the net forecast production to Range is estimated at 46 bopd and net 1P reserves of 64,183 barrels. Range does not consider its interest in the Perlak field in Indonesia to be a material oil and gas project for the purposes of the ASX Listing Rules in light of the significance of its oil and gas assets in Trinidad.
I've been following Range for many years and I've never heard any news about suicides.
With Range being on AIM people would be very unwise to invest in it money that they can't afford to lose. AIM shares can be a lottery, many companies will struggle and go under, only a few might give substantial gains.
I lost a significant amount on Range but did manage to get out with a couple of grand still left to my name.
I wouldn't touch Range again until at least trading becomes more reasonable. It has some potential now after many years of dire management and share dilution. I could see myself buying a grands worth if the share spread and trading became less volatile. I'd still like to see a share reconciliation although I know that may not be popular with current holders.
The share dilution means it will not be easy to regain previous prices. I remember it reaching 26p but with so many shares being issued since then that would be equivalent to about 13p at most.
Ive been in here now since the beginning of time. Hanging on to a pipe dream who knows? It got to the point where it just was not worth selling, Id prefer to have played the violin as the ship goes down. However, I think there are a few lifeboats kickin around and we might have another leg-up on the decks if oil prices continue to recover. I think its time that the miners and the oilies get their show back on the road, and hooefully RRL can be part of that act. For that reason Id give us a light buy recommendation on the verge of caution and based on a spin of the wheel (red or black type of odds imo).
Im in at 6p so will check back in next year! Good luck to all veteran holders, Im sure some are already dead by now....
"Saffron/Coro - James Menzies joins the Holy Trinityâ¦LSE:SRON:Saffron has announced today that James Menzies is to join as CEO with effect from the first of May. James was founder of Salamander Energy, later taken over by LSE:OPHR:Ophir Energy in ..."
I have been a shareholder for many years and continue to hold a considerable amount of shares. It has saddened me to see my investment shrink from the dizzy heights of 22p to where it is today but at the end of the day I am accountable for putting my money in a share after doing my du-diligence, I am also responsible for leaving my money in, we make our choices
Over the last couple of days I have seen very positive news from this share with Shell getting involved and the Indonesia update to restore some faith in my choice. The new team actually seem to know what they are doing and are certainly bringing a level of professionalism and commercial savvy to the party. I know there are some war wounds with RRL for many investors but maybe a buy right now would be considered a good punt, here's hoping fellow shareholders
Sorry i could not post the link earlier but here it is:
ASX currently up 20% on top of yesterdays 66% ,so when do we follow?
WTI currently at $65.20 so its stating to look very good here.
I held these shares many years ago and sold at a significant loss. I still keep an eye on them for old time sake.
Seems good things are happening and the future looks brighter.
The management seem a lot more professional.
I just wish the spread and the price per share could be addressed. It may not be technically significant but with 759,583,000,000 share in issue (did I get the number of zeros right?) I can't take this share seriously.
Personally I'd like at least a 100 to 1 share reconciliation to take place. Maybe even 1000 to 1 or more. Then I might feel like these are worth a flutter again.
When he says "return to health" would that imply that every time he said in the past that the company was returning to health it was possible that he was exaggerating? Is it possible that Range offered him some form of benefit or payment to provide such an "upbeat" comment?
This company is showing an operating loss of $38 a barrel whilst oil is nearing the top end of its price cycle. There is no provision for the payment of interest on the enormous debts.
How do they define the words "continue" and "value" ?
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