RRS 0.00% 0.1¢ range resources limited

Found this on another site ....What do folks think?{Range...

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    Found this on another site ....What do folks think?

    {Range Resources - the tiddler with exploration rights in Somalia's Puntland province - has paid Canadian firm eResearch $US17,500 ($22,800) to produce a 24-page "independent" research report released yesterday.
    Although Range is listed as a "high-risk, speculative buy" with a price target of 4.6c, 39 per cent above the current share price, the Canucks seem to have kept true to their "independent" word.

    Their valuation implies a 1 per cent probability of success that Range will have the 19 billion barrels of oil it believes are in place in Puntland. Not to mention a 35 per cent discount because even the more stable Puntland province of Somalia makes for a "risky investment proposition".

    Analysts noted there were matters for concern, such as the "large number of outstanding options and impending additional share issues". Nevertheless, eResearch said there was "interesting capital appreciation potential" for investors willing to take a punt.

    Many of those shareholders were eagerly awaiting a presentation in Perth yesterday by new Range chairman Sir Sam Jonah, who also serves as president of South African gold major AngloGold Ashanti. But he was a no-show at the Africa DownUnder conference due to "work commitments".

    Range shares closed steady yesterday at 3.3c.}

    eResearch rpt
 
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