Omadawn posted the following today. He is a well researched...

Omadawn posted the following today. He is a well researched contributor on WS.
Interesting outlook from him.

It some times pays to sit back and review an investment from a different perspective. Range is now a company of 2 parts. We have an new management team in the field who come with a proven track record focused on extracting oil from what must be one of the lowest cost / risk profiles in the industry in a politically stable country prepared to give incentives. They are producing into a market that will take as much produce as Range can produce. As far as we are aware the equipment availability constraint has been removed. Their only dependency is on the other part of the organisation to ensure that they have sufficient cash resources to deliver. In London we now have a combination of experienced planners and financiers with good contacts both in the oil & finance world. They have options available to them in terms of asset divestment, RBL lending, convertible bonds and straight forward debt. They have been distracted by the need to untangle the web of deals and relationships previous management developed without oil production to underpin the deals. If the field based team can show they can deliver, the finance options open up. Finance becomes cheaper to service and provides for stronger growth in the future. In simplistic terms demonstrating that you can produce oil before announcing the shape of the financial package to support growth, adds significantly more shareholder value and demonstrates the potential for future shareholder value. If RRL have changed and this is a new beginning than production announcements before finance would be a 180 degree turnaround and value enhancing. Holding off on asset sales announcements would be a logical step in my mind as the money raised becomes far more valuable if investors know it can be utilised effectively. Negotiating and trying to close a deal before you demonstrate that you can produce oil is short sited...your negotiation position becomes weak as the other party knows you don’t have a fallback position. If RRL had closed on Texas last September, with the benefit of hindsight, were would RRL be now ? I’d say we would have non producing assets all over the world. no cash in the bank, continuous dilution and a team of 250 playing dominos. We now have LO in effect putting their reputation of their far larger company on the line for RRL. Abrahams Ltd well aware of the potential that RRL have, an oil production focused management team and a range of funding options We need more evidence of the turnaround but also have to talk in terms of months of growth rather than next week SP spiking news. Personally I think this is one of the best risk / reward opportunities on AIM. The highest risk is RSR, as yet his track record is unproven outside the comfort of Shell. I’m sure he is aware of the opportunity for shareholder feedback at the AGM just 3 months away.