WARNING - DON'T BUY RANGORango Energy, Inc 400 S. Zang Blvd Suite 812. Dallas, Texas USA 75208. Guess what? Building management has never heard of this company at this address! Their current hole is a disaster, and currently suspended. They didn’t have the proper mud when they drilled into the formation, so the shale swelled and heaved in causing the pipe to stick. It will cost a bundle to get it out. Ask the powers to be for the API Number and post it on this forum. They want everyone in the dark. I think the “legendary” Vinny Ramirez sums it well in the latest CC, “Having dilled more than a thousand wells in my career this is the first time this has ever happen to me, while its not the first time ive had hole trouble, it is the first time I had a casing set at the wrong depth, and it’s very unfortunate.”
So let’s move on to Elk Hills right? Wrong. Elk Hills field produces oil 26 gravity and LOTS OF WATER…like 1000 barrels of water to one barrel of oil, so it requires a water disposal system to make this work. Where will Rango get the money for this? According to their latest filing, Rango is close to broke. I doubt they ever break ground, let alone produce oil at Elk (RUN FOR THE HILLS).
My suggestion, instead of linning the pockets of these two bit promoters whom are all show and with your doe, put your hard earn money in an actual producer. Rango pays outlets to compare them to Oxy, I guarantee you will receive a higher return from Oxy than you will ever see from Rango. This stock goes nowhere but down for here.