Post by
copperhouse44 on Jul 14, 2013 1:02am
Question - Rango third in line?
I find this company extreamly interesting, but can anyone tell me what portion of potential oil belongs to Rango? It seems like the project is owned by innex, then leased to Hangtown, and Rango is drilling it? Just wondering if I were to buy shares, what Rango's cut is. Thanks guys.
Comment by
bornskeptic on Jul 14, 2013 2:45pm
75%, and that's after paid back expenses drilling and otherwise, Hangtown/Innex 25%...after Rango is paid back from revenues. There's more to the deal but that is the general arrangement(my understanding).
Comment by
bennyRubin on Jul 15, 2013 1:38am
About 20 min before the Fri close MM = NITE came in with a 40k dollar bid. I wonder if we see that again today? Someone wants in big.
Comment by
copperhouse44 on Jul 15, 2013 11:51am
Thanks for answering my question. I don't own the stock (at least yet), but its seems to have a lot of potential, and experienced management. Most of these "penny stocks" are ran by people with 1/10th of the experience as compared to rango. Also, Oxy being in the area, a possible buyout down the road is definitly a possibility.