Punt on Puntland! Big gains here!
Range Resources are one of the best small E+P performers of 2010 and they look set to rocket on news this year. On expectation alone they should be 25pence! A real bargain!
Puntland: Drilling expected in Q311
20% Interest in two licences: Dharoor and the Nugaal Valley.
This is a potential multi Billion Barrel oil discovery. There are two resource estimates Gaffney Cline; Sproule International.
The more recent of the two penned late 2009 by Gaffney Cline & Associates gives an un-risked oil initially in-place (OIIP) of 12.4bn and 5.8bn barrels in the Nugaal and Dharoor blocks respectively on a gross best-estimate basis. These estimates would translate into 2.5bn barrels and 1.2bn barrels net to Range.
The Sproule Internationalreport of 2007 provided a best estimate for OIIP in the Nugaal block of 4.3bn barrels gross, with a low estimate of 2.2bn barrels and a high estimate of 10.4bn barrels. The Gaffney Cline report has the advantage of better more up to date seismic and analysis, “particularly with regard to Dharoor“. So says Edison’s research note.
Republic of Georgia:
Drilling possible in Q111.
50% interest in V1a V1b
Targeting stacked reservoirs with a OIIP of 2 Billion barrels. There’s a very good chance that the first drill could begin early April this year.
Texas and Trinidad:
These are basically low risk oil/gas plays.
News from Texas is imminent re’ the Russell Bevly.
And Trinidad has assessed gross recoverable P2 reserves in place of
4.8MMbls. Although these are small plays they will help with cash flow and experience. Not to be sniffed at! Range has more oil in Trinidad/Texas than Desire have in the Falklands. That puts it into perspective!
At the moment Range are not on the radar for most although some will claim the glory as being invested long before the Blog wrote on them however we here sit, watch, learn and listen to the musings coming from within the city of London before we herald our opinion . In other words we research our stocks and research some more.
These are woefully under-value and look set to continue to trend up. The 3 month chart confirms a trend is beginning as we cross-reference this with expected news the trend should continue. How high could these go? Well look at GKP they’ve hit 200p+ It all depends on how the news pans out re’ the drills. A 50p target isn’t unrealistic given the Multi-Billion barrel potential.
Any multi billion barrel oil discovery for Range would result in an sp well in excess of 100p. Research them. If they hit oil it’s the big time.
Viva!
Daniel
Worth noting these shares can be put in your ISA :), as an investor in these shares, I’m looking forward to an exciting year ahead, hopefully the Somalian targets will also finally get spudded this year…
(good luck with your £1m challange)
thanks for the tip on encore you cost me £3000
Hahaha Kenneth, he didn’t cost you anything. If you blindly follow him that’s your problem. People tip shares all the time – its up to you whether you go in. It’s staggering how quickly blame gets passed. I got out when on the rumours started in the city (always a bad sign) at 150.
Although at the moment Dan, you must be quite happy that lloyds didn’t give you that 1m loan. You’d be balls deep in poorly performing debt and with staggering monthly interest payments.
you can’t blame Dan. Your money, your research, your risk.
And Encore will be back on the money soon.
There will be a small recovery after todays plummet. But then there will be rises up and beyond the previous £1.50 once galaxy II is on its way to Burgman. The SP was stuck at £1.24 before the rig left for valdero, and since then valdero has been drill sucessfully and even though today was a disappointment there is likely to be an OIP upgrade at catcher even if it is small.
Also, due to better weather conditions there should not be delays like in Q4 2010.
Just HOLD and chillout.
I could not have echoed your sentiments better Alex. This is exactly what I feel!
Cool head. (when those around are loosing theirs!)
Hold.
Chill out…
…but Do your own research in the first place!!
Kenneth Hitchen – You cost yourself £3,000 if you sold!!!
Or had a stop loss on a spread anywhere above £1.20!
“we here sit, watch, learn and listen to the musings coming from within the city of London before we herald our opinion ” – well that’s the rub. I’ve been in since 4p levels and to me this was a winner as soon as the SP was effectively underpinned by Texas plays early last year. I feel no need to wait for the musing of the City of London because I can DMOR and don’t need their yeah or nay. Actually – for newbiee RRL investors – I would say that Puntland is definitely a punt. There may be loads of oil (or maybe not) but there are definitely loads of political issues. Having said that there is easily enough good news potential from Georgia, Trinidad and Texas to send this SP up higher. To me Puntland is a bonus. This was also a favourite of Red Hot Penny Shares until recently when they recommened a sell at 7p based on a pervceived delay to the Puntland drill. I think they mistakenly ignored the impact of Texas, Georgia and Trinidad and in any case they were caught out when RRL annouced the first Puntland drill would take place this year after all. I think they need to wipe alot of egg of their collective faces 🙂
O/T – Dan have you looked at Amerisus Resources (AMER) they are forecasting increasing production from 600 bpd to 5000 bpd from additional wells on an existing licence in Colombia. 6 additional wells planned to be drilled this year with a 50% COS. The SP has doubled over the last few months but IMHO has a long way to go. Recently tipped by Goldmans in their review of junior oilies. I recommend you take a look if you have the time.
All the best,
N
Whoever balmes DAN on their investment clearly needs their head checking out. He always tells you to DYOR. How clear can that be. If you follow anyone purely without any research then their cant be a bigger idiot than that can they.
Dan came to my attention a couple of months ago and now I check out his tips and monitor them for a week or two before deciding to take a dip or not.
I really appreciate the mention of RRL today which I already hold and this for one will more likely hit 50p and beyond VERY SOON !
Am with DAN on this one – investors need to really have a good serious look at this share which is a potentially multi bagger in the making.
NICE ONE DAN, and keep them coming !
Another 2 shares DAN you may want to look into are DPL and HER, with DPL holding Block 7 a highly prospective chance of striking according to all the indicators and also in a zone where TULLOW have made some major discoveries. Also HER tipped to be SHARE OF THE YEAR 2011 !
These two might be ones that you might consider putting into your £100k to £1 Million challenge as both are about to make some moves come END FEB/START OF MARCH.
Kenneth Hitchen how did Dan cost you 3 thousand?
Listen man grow some balls and man up. Stop blaming a blog for your trading. This blog talks about investing for the right reasons the word there Bro is “Investing” stop ya Bullcrap tryin to day-trade on the back of a a good ole post doesn’t matter how cute you think you are Kenny boy eventually you’ll ffrig up. Im in encore from 67p sold yesterday at 149p.
Many cheerios Dan as i wud never of invested if you hadn’t posted on them. Held them for over 6 months. Great return.
Dan
Take a look at SOUND OIL PLC, http://www.soundoil.co.uk/ TICKER SOU, CURRENT SHARE PRICE = 2.35p, MARKET CAP = £35.6 million.
Their NPV10 plus cash value = 10p per share to SOU and that would still leave their free carried interests in Indonesia in for ZIPPO. See the December presentations on their website for confirmation. It’s going to b a busy year for SOU.
Dan,
do you have Africa oil (Lundin company) on your radar ? they will soon start drilling in Somalia (Puntiland).
I’m still trying to come over the to days comment from my
no.1 enemy, Dr. Al Sha.. (the former oil minister in Irak) he is still fighting for the servive deals to be the only contracts to be signed in Irak. South of Kurdistan this is probably OK by in Kurdistan this is rubbish. If we just se how complicated drilling e.g. Western Zagros, VAST & Gulf have had, who believe that service contracts is the way forward in Kurdistan ? I certenly hope that Barzani & Maliki can close down this guy once and for ever (I still have the taste from the Champagne from last Saturday, so close but we are obvoiusly not yet there…).
Dan, do you have any news about this strange case against GKP from the chaps in suite no 1408… in Washington DC ??
Best Regrads from Lasse
Hi Dan
Would it be possible to have any knowledge on SAR as they rose 214% percent today! Very interesting!!
Thanks
Dan – Any chance of an update on BTC?
Just joined, very interesting with some very good info, debate. Dan have you looked at Clinuvel ? It is an interesting company, only listed in Oz and germany though which is a bugger. It is a long play but would be interested in opinions.