rupes, yes range does have large in groud resource, but then so do many other companies for there respective market caps.... I hope Range successfully discovers develops and produces the lot...discovery is only just the beginning of the up hill battle... its a long shot, even if drilling uncovers a large discovery, rebels would be likely to take control of this large resource of something...this large discovery you talk of is less than 1/10 chance... commerical discovery has greater odds around 1/7, 1/8...
All the oil majors have failed...just read the $7 valuation report !... and Range aint an oil major... ... It is abit premature to reckon that range will sure up 2billion barrels by this time next year rupes, your banking on long odds...if it was such a sure thing then market would factor in at least some of the big up... To get such a discovery developed will be costly and will incur further dilution to shareholders... with a 20% stake and a 50% govt tax take... Ranges stake is effectively 10%... the $50m US farmin agreement was a big step for Range, looking for more of these steps leading up to drilling program
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