Stock data
| Market cap. | £183.9m |
| Last close | 8.68p |
| High / Low (52 weeks) | 18.2p / 6.9p |
| Stock market listing | AIM, ASX |
| Forecast net cash (A$m) | 15.9 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Oil & Gas |
| Sector | Oil & Gas |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (21.09) | (19.26) | (50.04) |
| Relative * | (17.22) | (12.62) | (45.1) |
* % Relative to local index
Other companies covered in sector
| Y/E Jun | Revenue (A$m) | EBITDA (A$m) | PBT (A$m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 0.7 | (2.4) | (2.5) | (0.4) | N/A | N/A |
| 2011A | 3.5 | (4.3) | (4.6) | (0.3) | N/A | N/A |
| 2012E | 28.4 | 4.7 | 1.5 | 0.1 | 136.7 | 83.3 |
| 2013E | 66.1 | 23.4 | 15.6 | 0.2 | 68.3 | 12.9 |
Last updated on 18/04/2012
Latest research
Dynamic backdrop
Update | Oil & Gas | 15/12/2011
High-impact drilling
Update | Oil & Gas | 13/06/2011
Potentially a savvy move
Flash note | Oil & Gas | 27/04/2011
Valuation upside
Update | Oil & Gas | 06/12/2010
Undiscovered frontier play
Outlook | Oil & Gas | 09/06/2010
Presidential elections in Puntland
Flash note | Oil & Gas | 13/01/2009
Political concerns
Flash note | Mining | 25/03/2008
On the shoulders of super majors
Outlook | Mining | 14/03/2008
Investment summary
Near term, Range is very much a play on the 20% owned Shabeel-1 well Puntland that spudded in late January. Oil and gas shows have been seen in the Upper Cretaceous but the main target is the Lower Cretaceous and Jurassic where prospective resources of 300mm barrels are estimated. Shabeel North-1 will follow shortly after, targeting similar resources. Range recently announced that it has acquired a 100% interest in the Puntland Nugaal Offshore Block and secured a 65% farm-in opportunity on two highly prospective licences in Southern Columbia. Development activity in Trinidad and Texas remains highly successful. Production in Trinidad is rising strongly to over 1,000b/d and an announcement about a reserves upgrade at the NCR project in Texas is expected soon.
Last updated on 23/04/2012
Industry outlook
Exploration interest is rapidly gathering momentum in the rift plays of East Africa. Recent evidence pointing to the prospectivity of the region is Tullow's Ngamia-1 discovery in Kenya.
Last updated on 23/04/2012
Key management
| Sam Jonah, Chairman |
Company address
| Ground Floor 1 Havelock West Perth WA 6005 Australia +61 (0) 8 9488 5220 View website |
