A couple of things to remember here. Firstly Texas IS a discovery and WILL be providing Range income within a week or two. That is not if it is only the when, and we know the when.
Texas is a no brainer. It is a producer and what we do not know for sure is how much. What we do know is to expect more now than we expected when we took up the challenge.
Second thing is Range has no debt. How many small oilers do you know that carry unacceptable debt? Drillsearch was a good example of a company that had pathetically low income around $3m p.a. but carried $18m in debt. No guessing what was going on there. Range is debt free and looks like it will remain that way as projects come on line this year.
RRS Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
