Range Resources Ltd

Range Resources Limited (“Range” or “the Company”) is both an ASX-listed (ASX: RRS) and AIM-listed (AIM: RRL) exploration and production company with assets in Texas- U.S, Republic of Georgia, Trinidad and Puntland- Somalia.
 
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 ....What chances do you think investors will see a a capital raising in the near future? - The Interview

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notarealdr

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PostSubject: ....What chances do you think investors will see a a capital raising in the near future? - The Interview   Sun Jul 10, 2011 3:47 am

Posted on Youtube this weekend a well-timed interview designed maybe to coincide with spudding of the Vani3 well in Georgia which hopefully went ahead as planned. http://www.youtube.com/watch?v=_e0X2ZLOCFY
This could be the start of a campaign of steady news-flow based around increased milestone activity to re-position the company share price.

The following response by Pete Landau answers comprehensively the question many share holders' have regarding cap. raisings, draw-downs etc.

doc.


Interviewer Question - "....What chances do you think investors will see a a capital raising in the near future?"

Pete Landau. "Define capital raising, define near, define future. At these levels with a crappy market clearly we're not going to blow Range's capital structure out. We don't have to. We are fully funded to do what want to do in Trinidad, Texas and Georgia at this point in time, and even Somalia to an extent in Puntland.

So we do know we have had a number of offers to provide both pure debt, convertible & equity to the company. Now if we do want to institutionalise Range, because we are a predominantly retail stock we are going to have to bring in some institutions at some point in time. It's not going to be at these levels, and we aren't talking hundreds of millions of dollars, were not talking fifty million dollars. Given our market cap we can do what we want to do with very little dilution & obviously dilution will be for the better. If we are going to start to be covered institutionally by some institutional brokers in the UK you do want to give the institutions some sticky stock. Now it's not going to be big levels but right now, we're not going to do it right now, because we're like the rest of the market, at a low we don't want to be. So in the immediate future, no but it's not to say we won't not going to do something moving forward if market conditions pick-up. If they don't pick-up we will probably stay where we are, ... potentially look at a bit of debt because we can absorb a debt but at this point in time we have a lot of people who want to be involved, but we don't want to do anything silly, based on what our expectations are from a share holder base. We've demonstrated to a point in time that we manage it pretty well and I think we we will manage it pretty well moving forward."

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PostSubject: Re: ....What chances do you think investors will see a a capital raising in the near future? - The Interview   Sun Jul 10, 2011 10:07 am

Hi notarealdr,

A few observations:

- I thought Pete said sticky stock, as in institutions taking a position rather than trading it?

- Did everyone notice the little rub of the nose after Pete said, they should have sufficient funds for Punty, lol?

- I must say, Pete sounded positive about a commercial discovery in Georgia.

- Potential update on Puntland mid July but also mentioned possible slippage from Sept to Oct?

Cheers preempt
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PostSubject: Re: ....What chances do you think investors will see a a capital raising in the near future? - The Interview   Sun Jul 10, 2011 10:27 am

Absolutely right preempt, he did indeed say "sticky stock". Now say it 6 times quickly. According to Pete sticky stock is stock issued to insto investors who have a 2-3 year hold horizon not hot, in and straight out, money.

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PostSubject: Re: ....What chances do you think investors will see a a capital raising in the near future? - The Interview   Sun Jul 10, 2011 10:35 am

Well as they say, "if you build it, they will come"!
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PostSubject: Re: ....What chances do you think investors will see a a capital raising in the near future? - The Interview   Sun Jul 10, 2011 12:32 pm

Thanks for posting Doc, for me that was the most important part of the interview.


- Did everyone notice the little rub of the nose after Pete said, they should have sufficient funds for Punty, lol?

Last time we got a little nose rub wasnt it in the iii interview when he said Georgia would spud Jan/Feb? lol We currently have about $15 Mill correct? what are our cash commitments in Puntland? I though we mangaed to get some of the cost from Nugal over to Dharoor???

- I must say, Pete sounded positive about a commercial discovery in Georgia.

He seemed very positive especially to quote a 90% COS for Helium surveys when combined with seismic data. If this is true news of spudding this week could be good to watch for both RRL and RMP.

- Potential update on Puntland mid July but also mentioned possible slippage from Sept to Oct?

I expect there to be further delays given the history but as long as its moving forward I dont mind. It will be interesting to watch RMP on news of a drill contractor and timetable.
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preempt



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PostSubject: Re: ....What chances do you think investors will see a a capital raising in the near future? - The Interview   Mon Jul 11, 2011 12:21 am

"Last time we got a little nose rub wasnt it in the iii interview when he said Georgia would spud Jan/Feb? lol We currently have about $15 Mill correct? what are our cash commitments in Puntland? I though we mangaed to get some of the cost from Nugal over to Dharoor???"

Yes exactly, poor old Pete, can't help himself, lol!

"He seemed very positive especially to quote a 90% COS for Helium surveys when combined with seismic data. If this is true news of spudding this week could be good to watch for both RRL and RMP."

I think Georgia is going to be a company maker for RRS and RMP with a number of sources expressing a degree of certainty about the potential for a commercial discovery.

"I expect there to be further delays given the history but as long as its moving forward I dont mind. It will be interesting to watch RMP on news of a drill contractor and timetable."

For me, mobilisation is the most important stage - once a rig arrives in Dharoor, there will be no turning back. The market will go nuts!

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