BMDToday 12:00The Russell-Bevly #1 well. Frac commenced on...

BMDToday 12:00

The Russell-Bevly #1 well. Frac commenced on Sunday, February 13th the estimated time line here from the company is 7 days . Bevly is already a producer for range and the operation should significantly increase production and revenues for Range. After this Range move on to the Ross 3H horizontal well in Texas the date for spud is expected later this month (Feb).

Then there is the Smith 1 well which will undergo a similar operation to Bevly in April which again will increase production and revenues. What this should show investors is Range?s committment to increase company/investor value by maximizing their cash flow from assets that are on or about to be placed on production. A pointer as to their intentions is the company Blurb below:

?With the planned onshore exploration drilling program in Puntland and Georgia coupled with the exploration and development programs in Texas and Trinidad, Range is well on its way to establish itself as a diversified international oil and gas exploration, development and production company with significant upside potential.?

Now throw into the mix Ranges Georgia assets where they have identified 6 immediate drills targeting 3 quarters of a billion barrels of oil. Then the Puntland prospects which are estimated to be in the region of many billions of barrels of oil then you can see why Range were one of the best small cap oil performers of 2010.

These are known as High impact activities ie: share price drivers. Now the time-scale for most of Ranges activities is known to be short term! Hence why the share-price is destined to rise to a minimum of 25p; it will be breached here as Range ramp up production on Bevly,Smith1, and Ross3H. The potential for Range to break-out is there for all to see Georgia and Puntland are the trigger. Any further good news re? the above two assets will substantially increase sp value they are known as ?value indicators?

I base my targets only on expectation and potential NOT on oil in place or proven reserves. If they hit oil in Georgia or Puntland or both then range Resources will jump to 500p minimum!

Investing and holding here for Georgia and puntland should be the objective.

They will rise and the trend is up on the 3 month chart which reflects the under-lying upward trend which is being driven by investors not traders.

Range should hit 50p well before we get the first spud on either of their two main assets. Hold!

Viva!

Daniel