Range Resources.. Common Sense investing!

There’s been a flood of emails and comments this morning re’ RRL!

I’ve just checked the Share Price and it would suggest that today’s rather bland Rns ASX Price query has for reasons known only to the Gods of Mammon stirred a wobble. The sp has dropped some 10%!! Quite remarkable!

Bearing in mind that if any thing the RNS is confirming that Range have been in the City of London trumpeting the value of their company and assets. It actually states thus;

***Range recently announced a number of key milestones for the Company across its development and exploration assets, including; – the securing of the drilling rig for its Georgian exploration program;

– anticipated mobilisation of the Georgian drilling rig expected March
2011, and planned spudding in April 2011;

– commencement of drilling at the East Texas Cotton Valley Project; and

– successful fracture stimulation of the lower two zones on the Russell
Bevly well, with the upper two zones to follow later in March 2011.

It is anticipated that further updates on the Company’s activities will be made with respect of its assets over the coming weeks as events occur, as indicated in the recent announcements from the Company.

The Company also notes that its Executive Directors have been in London on a promotional visit, further increasing the awareness and activities of Range to a wide range of the London investment community, at a time of increased activity across the Company’s portfolio of assets.***

It would seem that some have sold ! This suggests to me that there’s a day-trader following of the stock that is quite significant.

I can only reiterate what the Blog posted yesterday:

Georgia {onshore{ (spud April) where the company will be testing 750 million barrels of oil equivalent of upside.

Puntland “The upside potential is in the billions of barrels. Range has already established itself as a producer in the US (Texas) but the upcoming drilling activity could lead be a company-changer for investors/company.”

“There just seems to be a certain inevitability about them. The exact same inevitability that has seen meteoric rises for Nautical,Encore,GKP etc”.

Now reading this last line about the inevitability of Range and drawing a similarity with the Great success  of the companies mentioned I do recall these very same companies behaving in the EXACTLY same way before they exploded upwards!

Instead of responding second by second  to price fluctuations holders here should ignore intra day movements downwards. Key in your strategy with the company time-line re’ expected news that’s what ALL the professional Brokerages and Institutions do! They have already hit just under 25p and it is inevitable that they will surge ahead. Range have just informed us “It is anticipated that further updates on the Company’s activities will be made with respect of its assets over the coming weeks as events occur” AND “a time of increased activity across the Company’s portfolio of assets”.

What that should be telling investors is crystal clear. How any one can interpret that as a sell signal is beyond my understanding!

Hold your stock here and stick with what you know!

They will always fluctuate it is the nature of the AIM beast! Those who sold at under 20p this morning must be kicking themselves.

Viva!

Daniel