Range Resources (RRC) Message Board

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Gold/Mining/Energy : Range Resources (RRC)

RRC 36.34

+0.6%

Jan 23 9:30 AM EST

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To: Bucky Katt who wrote (55)	8/13/1999 10:23:00 AM
From: doug doan	Read Replies (1) of 82

Long Term is looking real, real good now. I share your optimism about the future of RRC. With long term natgas prices moving up and up we are indeed in the right stock at the right time. I also quickly reviewed the financials and found them just about impossible to decipher. The throw so much into DD&A that it becomes meaningless to try and predict earnings. Looks to me like they have total ability to "manipulate" the expectations by fiddling with the DD&A account. They beat estimates by a penny this time. COuld have easily reported positive numbers and got us in the black this period. My guess is that they will certainly do it next period. My god with commodity prices up 75% this year how could they miss. THe other issue that gave me a bit of pause was the report that current production is expected to drop from 200 mcf a to 175 by the 4th quarter. this is the result of some properties and the JV. Not sure if we will see some of that lost production come back as royalties from the JV or not but sure seems like a big hit in produciton. Course if we can get the debt monkey off our back in the process, maybe it is worth it.

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