Saturday November 01, 2014
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Range Resources – Not Very Good Statement: Still a Sell

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- Tom Winnifrith

AIM and ASX listed oil producer and explorer Range Resources (LSE:RRL) has served up a statement which is, in summary, not very good. There are elements of hope but also delays and disappointments. And these delays cannot help its cash position. Not surprisingly the share price has been marked lower, to 3.75p, but that does not present a buying opportunity. The stance remains sell. The target price remains 1.5p. And here is why.

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