AIM listed oil producer and explorer Range Resources (RRL) is a stock beloved of penny share bulletin board punters. That, I suppose, should be a good reason not to buy. I must admit that in my heart I would rate this as a slam dunk sell but there is just a chance that the shares are cheap. Let me explain.
We start with the strange goings on in Puntland. For those of you not familiar with Range this is not a parallel universe inhabited by a race of people entirely cloned from Evil Knievil, but a place which is now, after years of strife, autonomous from Somalia. I should say that it is not the sort of place you would really choose to do business, let alone go for a break in the sun, but there just may be a lot of oil there.
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