The investor call for Range Resources (RRL) today was a total disaster as we reported here. The company is almost out of cash and the mess left by former boss Peter Landau is now evident to all. Yet Landau remains on the board of Range as a non-exec (presumably on an obscene salary) but the shock results of our ShareProphets poll show that investors want Pete out NOW!
To cap a month of PR disasters off, Range Resources’ (RRL) conference call this morning, to try and restore faith in the company’s alleged new direction, was the icing on the cake. New-CEO, Rory Scott Russell, did not sound at all confident that he has what it takes to turn this company around. If you are a Range shareholder and were hoping for at least some small crumbs of comfort then I imagine you were sorely disappointed.
Ben Turney and I have this morning lodged an official request to put three questions at the Range Resources investor call tomorrow. This is an acid test for range as to whether this event is anything more than an IR smokescreen.
Ben Turney and I have this morning lodged an official request to put three questions at the Range Resources investor call tomorrow. This is an acid test for range as to whether this event is anything more than an IR smokescreen.
Our editor, Ben Turney, has just published an article HERE outlining the arguments why he believes it is time for Peter Landau to step down as a non-executive director of Range Resources (RRL). Do you agree? Take part in our poll below. Voting closes at 4.30pm on Tuesday May 13th.
We trust that no-one from Buchanan PR is voting in our poll on whether Peter Landau should leave Range Resources (RRL) once and for all. We would not any more allegations of dirty tricks and sleaze against the City’s biggest financial PR firm would we?
On February 3rd this year, Peter Landau stepped down as Chief Executive of Range Resources (RRL) and became a non-executive director. On Wednesday morning, Range will host a live web conference call with its beleaguered investors. Whether or not this call will be a white wash remains to be seen, but I’m fairly certain that the directors will not deal with arguably the most important question facing the company. Is it time for Mr Landau to step down from Range Resources?
Part of the WPP (WPP) Group, financial PR firm Buchanan acts for more AIM listed clients than any other PR firm. But today I ask if the odours from its lavish Cheapside offices are not of expensive perfumes worn by glamorous PR birds, but from the stench of a dirty tricks campaign against those investors seeking management change at AIM Cesspit listed Range Resources (RRL)? There is no suggestion that Range itself is aware of this. So....
Range Resources (RRL) has today announced the start of its withdrawal from Colombia but the spin it puts on this volte face is just that, it is spin. Does it think we are all stupid?
In a week’s time, Range Resources (RRL) hosts an investor conference call. It promises to be lively. With questions outstanding about the non-disclosure of the $6.5million Platinum Partners loans and Range’s true unrestricted cash position, attention now turns to non-executive director Peter Landau’s pay packet. Brace yourselves...
While trawling through the quarterly reports of Range Resources (RRL), I stumbled across yet another mysterious and sizeable transaction. In the quarter ending September 30th 2013, Range suddenly referenced a “US$3.48million performance bond for Colombia” and included this as part of its cash balance. What is odd about this reference is, as far as I can make out (again!!!), this is the first time Range mentioned this material amount. In the two subsequent quarterly reports this “performance bond” continues to appear as a footnote and it now forms over half of Range’s apparent cash balance. Given how cash-strapped Range is, shareholders would do well to ask what on earth is this all about?
Range Resources’ (RRL) investor relations people, Buchanan, don’t want to talk to me. Range’s Nomad, RFC Ambrian, doesn’t want to talk to me. Perhaps they all think I’ll just go away? Perhaps they think that remaining silent about the undeclared $6.5million Platinum Partners loans, received by Range in October 2013, aren’t that big a deal? Perhaps they believe that the AIM Investigations Team is little more than a paper tiger, so they can do as they damn well please? Let’s see...
Despite Range Resources’ (RRL) best efforts to paper over the cracks with yesterday’s RNS, it was last Thursday’s announcement which really caught my attention. According to this, the company owes $6.5million to Platinum Partners, in separate loans, and this amount is due by April 30th. If news of these loans comes as a bit of a shock to you, I’m not surprised. Let’s just say that Range’s approach towards revealing details about this material change in its financial condition was, how to put this, a little unorthodox...
I attracted an unprecedented (even by my standards) amount of grief from Bulletin Board Morons for being persistently bearish on Range Resources (RRL) all the way down from 5p until December. Then at 1.28p I did not tip the stock but merely ran it as a trading buy in my Christmas trading challenge with Steve Moore.
The on again, off again saga of Range Resources’ (RRL) failure to offload its Texan assets has been a frustrating affair. A year after it was announced, today could be the day that Range has told us the latest deal is finally off. If I’m right, this could spell real trouble for cash strapped Range.
Ten days ago I suggested Range Resources (RRL) would be a buy if you hated it enough! After this morning’s announcement I’ve had cause to revisit this view. As much as I like to buy stocks which others hate, I can’t help but wonder just how bad are things at Range that they’ve had to issue yet more shares to pay debt?!
What a mess. What an absolute shambles Range Resources (RRL) is. God knows how many pension pots this company has decimated over the years, but do I sniff a whiff of capitulation in the air? I think I might...
Range Resources (RRL) used to be one of the hottest oil prospects on the AIM market, but things are very different these days. At one time Range was a favourite with private investors and its CEO Pete Landau could do no wrong in the eyes of many. But then the wheels came off.
The big mistake as far as Range Resources (RRL) goes has been to underestimate the magnitude of the bear market in this stock and get sucked in by the all too brief rallies.
This is going to shock, horrify and stun you. My seventh trade in my Christmas ETX Trading Challenge with Steve Moore is to buy Aussie oil explorer Range Resources (RRL) at 1.28p at £60 a penny. “What the Castlemaine xxxx” I hear you say, are you not a mega bear?
