Drilling Rig Update RNS ..... sounds good to me



Following request by Wilson Energy Services Inc. (the “Buyer”), RRDSL agreed to extend the closing date for the Transaction to 22 November 2019. In the event that closing is delayed beyond 22 November 2019, it will be subject to a late closing fee payable by the Buyer.


I noticed how few shares moved the share price ( Market Cap ) of Range Resources today . Did a dummy buy for 1.25m shares late in the day asked 0.035p /share . Must admit I was tempted since we have news due with regards to :

The binding conditional agreements signed with LandOcean for the sale of RRTL in exchange for offsetting all outstanding debt due from Range to LandOcean (currently estimated at c. US$91 million) and cash consideration payable to Range of US$2.5 million

Yep , that’s transformational news indeed and with all the negative posts on other chat sites such as L.S.E. . I’d say the Market Makers are shaking out as many novices as possible before that news hits the private investors ears .

Like siting at a poker table with the dealer using a marked pack reading some of these bulletin boards but then that’s how ( L.S.E. ) XTR bulletin board was for years . We still have one posting using multiple usernames on L.S.E. chat site even today . He uses one username to ask novice questions like , " who would sell two huge amounts of shares like that with news due " . then answers with another username , " I’d ignore trades like that they’re either rollover trades , ISA transfer shares or not real trades at all " .

Post history allows readers to easily check whether there’s a pattern or not hence not to hard to check since same usernames have done the same scare and pacify tango act numerous times before .

Weird thing is when Xtract Resources eventually turned the corner ( L.S.E. ) banned the posters Lizardchipz and redbike deleting all post history . If they hadn’t the pattern of posting on RRL ( L.S.E. ) bulletin board would be clear for all to see had been used before . All in my own opinion of course but worth remembering when few shares move Market Caps of AIM listed shares in such a dramatic fashion , there’s always a reason for it . Whilst the likes of SOLG have dropped 50% over the last 6 months XTR have risen considerably and no doubt will rise much , much more .

I like to get in as low to the recovery share price as possible with RRL that could be now or lower but one things for sure I’m happy with the few shares I have at present but will be adding using the same trading / long term hold positions I’ve used with XTR .