sale of ncr and ecv

in the recent OPL broker report:

Although the Lonquist valuation is based on a 20-25 well rolling development programme in order to
produce the available reserves over the long term, we are confident that Range will look to crystallise
the value of North Chapman through a disposal of the asset in 2012.

In the same fashion that continued drilling on North Chapman is likely to enhance the value of the
project, we are confident that successful appraisal drilling at East Cotton Valley will enable Range to
upgrade a significant proportion of P3 reserves into the P2 category, enhancing the value of the field
significantly. At this point, we expect that Range would consider a sale of its interest.

NCR and ECV will be sold off dependant on the right price (circa $300m
or ?188m)

Monies will be returned to Shareholders with a % being retained for
future expansion, the company will decide on how much they will retain
dependant on how much they need for the coming year. 15% retained by
the company will returned about 8p per share to shareholders,


5% retained by the company - ?0.0893p
10% retained by the comany - ?0.0847p
15% retained by the company - ?0.0799p
20% retained by the company - ?0.0752p
25% retained by the company - ?0.0705p
50% retained by the company - ?0.047p

The company does not need $300m sat in its bank account! look what PL was able to do with only $60m if they retain $150m then we as shareholders are still looking at receiving just hy of 5p per share in a divi!!!

+ the company will have $150m to do deals with which should see Range punching its weight with some of the seriousy large oil exploration and production companies!!!
SEEMS TO ME, we have a good bargain in the bag if the above deals go ahead....imo (hang on to your shares, only buy more if your your BANK can afford to lose the money!) lol