Range Resources may transform into a major player - Old Par
Posted: Tue Jan 18, 2011 11:30 pm
Tuesday, January 18, 2011 by Jamie Ashcroft
Range Resources (ASX:RRS, LON:RRL) will transform into a major player if its Puntland exploration projects prove successful, according to research by specialist City broker Old Park Lane Capital.
This afternoon Barney Gray, analyst at Old Park Lane, published research on Range Resources and its joint venture in the autonomous Puntland region of Somalia.
Yesterday Range, together with its partners Africa Oil (TSX-V:AOI) and Lion Energy (TSX-V:LEO), announced that it has amended the production sharing agreements (PSAs) for the Dharoor Valley and the Nugaal Valley exploration areas.
The amendments will allow Range to spud its first exploration well before 27 July 2011.
“This is very good news for Range as it implies that full mobilisation is likely in Q2, providing the company with exposure to multi-billion barrel upside potential,” Gray said in a note to clients.
He adds: “In November 2010 we increased our risk parameters to reflect the longer lead times for mobilisation in Puntland.”
“However, with the extension of the PSAs and renewed visibility on mobilisation ahead of a July spud, we are confident that success in Puntland will transform Range into a major player in the E&P sector.”
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people i would advise you all to buy shares from this company, because once in july she drills a well, which will spud according to various international oil experts, the share price will skyrocket, you can buy it now roughly for around 8 australian dollars per share thats around 5 pound per share, if it jumps it can jump up 3000 to %5000 in her first 3 months from 1 single well that shows commercial potential ....... if they become succesfull in july 2 things that can happen 1: they will cash in and sell there assets to a bigger {risk taking} company such as chinas state oil company....or they go for the drill and invest in the entire region of puntland which they already have the license for...ladies and gentleman thats 240.000 square kilometers...thats a lot of land with major potential to equal middle eastern small kingdoms.........allahu akbar
Range Resources (ASX:RRS, LON:RRL) will transform into a major player if its Puntland exploration projects prove successful, according to research by specialist City broker Old Park Lane Capital.
This afternoon Barney Gray, analyst at Old Park Lane, published research on Range Resources and its joint venture in the autonomous Puntland region of Somalia.
Yesterday Range, together with its partners Africa Oil (TSX-V:AOI) and Lion Energy (TSX-V:LEO), announced that it has amended the production sharing agreements (PSAs) for the Dharoor Valley and the Nugaal Valley exploration areas.
The amendments will allow Range to spud its first exploration well before 27 July 2011.
“This is very good news for Range as it implies that full mobilisation is likely in Q2, providing the company with exposure to multi-billion barrel upside potential,” Gray said in a note to clients.
He adds: “In November 2010 we increased our risk parameters to reflect the longer lead times for mobilisation in Puntland.”
“However, with the extension of the PSAs and renewed visibility on mobilisation ahead of a July spud, we are confident that success in Puntland will transform Range into a major player in the E&P sector.”
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people i would advise you all to buy shares from this company, because once in july she drills a well, which will spud according to various international oil experts, the share price will skyrocket, you can buy it now roughly for around 8 australian dollars per share thats around 5 pound per share, if it jumps it can jump up 3000 to %5000 in her first 3 months from 1 single well that shows commercial potential ....... if they become succesfull in july 2 things that can happen 1: they will cash in and sell there assets to a bigger {risk taking} company such as chinas state oil company....or they go for the drill and invest in the entire region of puntland which they already have the license for...ladies and gentleman thats 240.000 square kilometers...thats a lot of land with major potential to equal middle eastern small kingdoms.........allahu akbar