Range Resources by the end of the month will be an Oil and Gas producing company with a significant find on its maiden wellbore. It is that significant they have already signalled their intentions to drill further wells to maximize it's potential as a single well is not enough!
I don't know about anybody else, but regardless what any speculating pump and dump ramper says, I have my own mind... make my own decisions, take responsibility and face the consequence of my own actions to take a substantially large, overweight position in a company that I truely believe to be as one of the most obscenely (currently) undervalued hydrocarbon investments available that have scientifically proven (subject to drill) via seismics that they own (offshore) and joint own (onshore) the world's next largest untapped source of oil and gas (as the largest now near the end of their lifespan).
Conoco P. did not go out there 20 years ago for a drink and dance... no, they knew! and I work in the indsutry myself which has given me enough knowledge and experience to better my judgement.
So before folk try and downplay RRL, highlighting the apparent risks over and over, even stating that Smith is priced in and RRL is of value... I would disagree completely and laugh with a roar at the meagre current market cap of 12 mill... yes, that's all, 12 mill! I mean how can anyone seriously factor in the price of Smith 1 when they don't even know the reservoir size nor how much gas is there!? and what i would like to see in that case is the numbers they used in the calcs and where they got them from because they certainly have not been released yet!
IMO... Smith has not been factored in yet, nor has Georgia, nor has Puntland. However, building upto and upon release of the Smith reserves and that RRL's maiden production has comenced will see this in high single (if not double figures) with news to shortly follow on Georgia siesmics which will be round about the time we (those who stuck around!) receive our entitlements, timing us nicely into a new trading range in the teens, whereafter Puntland is anyone's guess. But i will reiterate that anyone who says that RRL is fairly valued at this present time (insinuating Smith1 also being factored in without release of definitive figures) is talking bull* and have words that is only beneficial to them!
For the majority, we all know why we are here... the risks involved, the potential RRL has and how undervalued it currently is... hence why we are investing at these rediculously low level entrypoints.
regs Kingpin Z
RRS Price at posting:
6.9¢ Sentiment: LT Buy Disclosure: Held
