Range Resources (RRC) Message Board

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Gold/Mining/Energy : Range Resources (RRC)

RRC 36.69

+0.9%

3:59 PM EST

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To: Bucky Katt who wrote (41)	4/13/1999 1:55:00 PM
From: doug doan	Read Replies (1) of 82

We Missing Something? Not sure about a buyout although there certainly is some consolidation in the works for oil/gas producers, distribution companies and utilities. The bigger issue for me is given the sudden run up in commodity prices over the last 45 days (up approx 30%) and the fact that RRC is basically a pure commodity play. WHy has the stock gone down? Already selling at a significant discount to book value. Indeed, the book value was calculated in Dec when commodity prices were at the low point of 1.69. They are now at $2.14 and rising yet the stock has actually declined during that period. My guess is that the fair market book value of the assets in the ground at today's commodity prices is closer to $6/share. What gives? My own assessment is that as a 2 buck stock nobody is really looking and most are off chasing internet stocks up ond over the moon. Great, I will settle for buying real assets at 50 cents on the dollar all day long and wait for the inevitable correction. Whaddya think?

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