very interesting

from ADVFNToday 10:45

johnweaver - 2 Mar'11 - 09:04 - 22672 of 22682

My notes on presentation by Peter Landau 01March. Notes and my views, usual caveats, DYOR more info on Website. Make up your own mind please it's your money.

01 02 2011 Range Resources RRL

Mkt cap. ?~190m @ 16.65p. (Australian 30c) Cash ?17m, Shareholders 73% AiM. Very liquid.

Assets: Puntland; Oil in Place 905mn barrels, this is a calculated figure by petroleum geologists based on their opinion of the geology and the seismic data available. The gross figure is then discounted heavily and gives a value of 14cents per share.

Drilling contractors from UK have been paid a fee for mobilisation and will arrive Puntland and start drilling April/May.

This is a lower risk play than many realise. Geological risk is about as low as any oil exploration can be. Finance risk is reduced by having funded partners. Management have completed the Seismic Survey and employ contractors, consultants and own staff who are experienced and financially stable. As the drill contractor is.

Political Risk is fully understood, including the assistance of a local politician. The seismic survey which had lines of vehicles working out in remote areas encountered no problems.

Republic of Georgia: Oil in Place, 2bn barrels, Seismic indicates 68 structures that could be oil bearing. Six targets have been identified with estimated 728mbarrels in place. Work continuing to select drill sites. Helium tests on the ground are positive. Helium is released through the ground by hydrocarbons in underlying deposits. The contractor was very confident of his work, but this is not a fool proof test for high quantities.

South Texas: Significant Reserves, 7m barrels oil + 50bn cu ft. of gas. Cash-flow potential $250/350,000 per month after fraccing and extra wells are drilled and brought into production this year.

East Texas: Historically prolific at shallow depths. Information bought by company indicates that a lower formation with Oil is present; work continues to drill and bring this to production.

Trinidad: Range now owns 15% of this project of 20+ wells that need work overs. There is a fully equipped drilling company ?in house? eager to start this work that will produce, potentially 600+ barrels per day per well. Again there is the expectation of deeper structures to drill.

The Trinidad company, Soca, will be listing on AiM as soon as it has finalised the administrative work associated with setting up a new company of about $90million cap.



ShugMonkey - 2 Mar'11 - 09:30 - 22677 of 22682

Hi John,

This seems to have passed me by, where was this presentation done?

Was it yesterday?

thanks

johnweaver - 2 Mar'11 - 09:41 - 22678 of 22682

SM, It was organised by brokers and Tavistock the PR company, Mainly small instis and serious long term investors.

I blagged myself onto the Tavistock list a while ago.

They also talked about Nkwe and Continental coal.which are ASX and coming to Lon