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14/03/17
10:11
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Originally posted by Empty
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......and here is Malcy's perspective on RRS.
Range Resources
Range has announced that it is to re-acquire the drilling business from LandOcean for $5.5m plus the $19.5m of debt.This deal sees RRL take back control of operations in Trinidad, dramatically reduce costs and be in a position to run everything more efficiently themselves. It is now likely that the drilling business will become a profit centre in itself, with an inventory of the best, newest rigs on the island it is perfectly possible to see them perform strongly as a third party operator.
As it is a RTO, Range shares will be suspended for some time, after which one can expect to see acquisitions and deals that should make to future very bright for the company.
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Worth holding for any future price surge in POO IMO
Need PL to get it back to 38c though LOL