brokermandaniel

Range Resources. Hotting Up in the City!


Shares in Range Resources (RRL), which I have blogged on several times on the BMD site, are surging ahead as canny investors pile into the stock ahead of drilling in Georgia {onshore{ (spud April) where the company will be testing 750 million barrels of oil equivalent of upside. After that, the campaign moves on to the onshore exploration in Puntland, Somalia where Range are partnered with Africa Oil who are scheduled to spud the first well before the end of the second quarter of 2011, and where the upside potential is in the billions of barrels. Range has already established itself as a producer in the US (Texas) but the upcoming drilling activity could lead to a company-changer for investors/company.

As foretold here on the blog the 25p minimum target is nailed on and investors should see this as a base for an increasing sp once it is breached and breached it certainly will be!. The 50p minimum target in the run up to pre Georgia/Puntland is looking ever more likely as City watchers look on as investors zero in on Range. It is now widely being accepted from within Brokerages that Georgia and Puntland are potential ?game-changers?.

And as past history should have taught investors potential and expectation are drivers of company value. I recall posting on Encore and Nautical,Xel,Gkp,Chariot etc at various periods that they could be going Major and major they now are. I am now beginning to think that Range Resources are increasingly looking likely to at the very least treble from where they now are pre-Puntland/Georgia the value indicators here hold much potential. There just seems to be a certain inevitability about them. The exact same inevitability that has seen meteoric rises for Nautical,Encore,GKP etc.

The key here for serious investors is research.

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

They are currently still trading way under-value given the weight of interest that is certainly going to begin to keep ratcheting the sp ever upwards. The Markets are expecting a busy few weeks as investors begin to switch on here.

Any success in Puntland and Georgia and you can kiss good bye forever to the 60/70p pre spud sp that some analysts think could be reached.

Range Resources could be going Major and a 300p/500p share price isn?t out of the question all depends on Puntland and Georgia!

Better inside the tent pissing out then outside the tent pissing in! They are on the march. Eyes on here!

Viva!

Daniel


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