Main thing that’s caught my attention of RRL is :
1 : the recent spike
2 : 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
3 : The first tranche of the cash consideration of US$0.5 million will be payable upfront as deposit. Range will provide mortgages over its workover and swabbing rigs as security, with such mortgages to be released upon completion or termination of the SPA
4 : placing at 0.49p /share representing 15% of the issued ordinary share capital of the Company
5 : As part of a wider strategy, we will also continue to evaluate new acquisition targets and review opportunities for our drilling business in Trinidad and interests in the Indonesian oil and gas project
So we have five recent key points establishing Debt restructuring , funding for further projects along with a drilling business in Trinidad that could sub contract to LandOcean creating a revenue stream for RRL with very little CAPEX involved .
There is one other thing that’s brought Range Resources ( RRL ) to my attention . Constant bashing on the London South East ( L.S.E.) , Bulletin Board ( BB ) which most long term traders / investors would have seen many times before not only on RRL ( BB ) but SOLG , XTR , etc … I’m of the opinion that ( L.S.E. ) moderation team use the ( L.S.E. )( BB ) to fill orders like the 15% purchase of placing shares by Sramek BioDynamics Holdings Limited , due to enter market on or about 13 September 2019 . Using scare tactics like action group set up to get back traders money . That’s pretty weird to me since my trading platform reminds me my investment may go up as well as down whenever I purchase shares in a company .
Not to worried about such multiple ID postings by in my opinion moderation team employees . Since if it was a Pi posting such nonsense they would soon have their ID removed from the ( L.S.E. ) chat site .
I don’t hold any RRL shares yet but this company is starting to look very interesting .