Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Range Resources; yet another embarrassment over the Lind default

By Ben Turney

20 November 2015 04:00

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News has just crossed the wires to remind us how abysmally “New Old” Range Resources’ (RRL) board of directors handled the transition after last November’s Abraham coup. The Western Australian Supreme Court has dismissed Range’s appeal to reverse the judgement made against it in paying the balance of the money it owes to Lind Asset Management. Range remains on the hook for at least $2.2million. Those Rangeologists that still exist might shrug their shoulders and say what after this summer’s Chinese refinancing of the company, but anyone considering buying this stock needs a timely reminder what they are getting themselves into.

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Comments

The Rangeologist

20 November 2015, 08:33

Meanwhile, Range is pleased to advise that the second development well of the 22 well programme, the GY 180SE well which was spudded on 4 November 2015 has reached its total depth of 2,000 ft. on 16 November 2015.Hydrocarbon sands and oil shows were encountered at the Middle Gros Morne channel sand complex during drilling of the well. Logging is underway and once log evaluations have been completed, the Company will seek approvals for production testing