Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Scratch away at the surface of New Old Range Resources (RRL) and it is obvious nothing material has changed since Peter Landau left the company in disgrace. The same cabal of business associates appear as intent as ever on bleeding the company dry. At the head of this group, at least as far as Range is concerned, now stands new non-executive Chairman, David Chen. Mr Chen has no operational oil and gas experience. However, he was paid 42,742,654 unlisted 1p options as an “advisor” in the murky Abraham investment. It certainly pays well to be an associate of Mr Landau’s, less well if you are misfortunate enough to be one of his shareholders…
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