Yes, I was researching FRR as they have dropped from 20p to below 3p. Trying to ascertain if worth investing in but they have funding problems. Just recently they were awarded $1.4m in a law suit in the US. I realise that Range do NOT suffer with the same funding problems and that we are well placed for 2011/12. When I read a poster(looklistenlearn) on FRR complaining that he had lost 90% of his 168K 'RETIRAL' INVESTMENT (his words), I could not help feeling sorry for him, and responded. I also agree with other's responses that (looklistenlearn) must have piled in heavily on the RNS frac discovery spike. I am not invested in FRR (Frontera) as is always, check FUNDING first with any investment you make...will go along way to restricting potential losses.
FUNDING...RRS - A-OK? In other Range news, the company has completed a ?20 million equity line facility with the Dutchess Opportunity Cayman Fund ? an investment fund associated with First Columbus LLP. With the new facility in place, ALONGSIDE EXISTING REVENUES, funding and farm-out deals, Range believes that it is VERY WELL PLACED to fund its comprehensive drilling and development program during 2011. Peter Landau, executive director, said: ?this facility will allow the company to continue its rapid development of assets. ?Importantly the facility allows the company flexibility to draw only as needed and therefore protect our shareholders from UNNECESSARY DILUTION as well as restrictions on the lender with regards to the BORROWING and SHORT SELLING of Range shares".
