RRL progress to transform company



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 .


Bought a tranche of Xtract Resources shares this morning . Owing to all the positive news released recently through RNS just couldn’t risk being out once all the ( L.S.E. ) large orders are filled . Normally shown as " delayed publication " but glad I jumped on board before the SP started to rise . Still being held back with max purchase of %m shares before N/T ( Negotiated / Trading ) kicking in once again .

Nice to read what I believe is moderation team posts on ( L.S.E. ) still bashing XTR on old news when XTR had a different BOD . Oh aye … same usernames were ramping back then but I’ve already shared my opinion of multi username posters on that chat site being part of the trading platform that it is . All in my own opinion of course but shared by many I’m sure .


Looks like ( MM’s ) are walking Range Resources ( RRL ) share price down on very low volume which sadly meant selling my tranche when a 20% lose neared equal to £125 , including broker fees . I’ll try and gauge a reentry price when volumes pick up since all the news we’ve had recently has de-risked ( RRL ) but rather than average down I’m inclined to wait for a firmer bottom before jumping back in .

Same thing happened with ( XTR ) when that was just a shell of a company with many trading opportunities along the way it’s now debt free with many assets plus a revenue stream from alluvial gold and yet the ( MM’s ) value it at only £5.2 million today … Weird thing is the likes of ( RRL ) and ( XTR ) have both had dodgy BOD members in the past . Hence I’m confident ( RRL ) will turn the corner just like ( XTR ) has and that’s when being in even at a lose is better than waiting on sidelines for news . So have I done the right thing ? … time will tell .

I’ve compared ( XTR ) to ( RRL ) because both companies have experienced similar situations . With ( RRL ) being an oil company and ( XTR ) being a gold producing , exploration company they’re in different sectors . Hence I’m not recommending either just using experience to voice an opinion with substance .


Weighed up lack of liquidity then bought back in using what was left of my original tranche sale £387 equal to 851,129 shares at 0.0455p /share . Lost a few shares rather than the £125 posted yesterday hence none to worried about that since spikes happen through lack of liquidity never to come down again .


never thought the SP would spike that quickly without volume hence bailed at 10:25am , all 851,129 shares at 0.0558p /share . Making an almost 20% clear profit .

Not to worried about being out at present the ( MM’s ) are working this on next to no volume . So got £462 to repurchase my tranche back which reminds me of what ( XTR ) went through prior to significant news arriving . Just hope I’m in when that comes … lol … :slight_smile: