Barney Gray of Old Park Lane Capital talks oil, liquidity and Range Resources

Friday, Aug 05 2011 by
15
Barney Gray of Old Park Lane Capital talks oil liquidity and Range Resources

Strolling around the boardroom in the Mayfair headquarters of stockbroking firm Old Park Lane Capital, Barney Gray contemplates a question about US debt and macro-economic misery. “If I thought about it too much I think it would make me stressed,” he says. With that, the conversation switches to natural resources – a subject close Gray’s heart and one which is helping to define Old Park Lane Capital as a broker that can make a very big impact on the fortunes of smaller quoted companies.

For the firm’s Inverness-born Director of Research, the traditional City summer lull is proving rather less relaxed this year. Since joining from Westhouse Securities last summer Gray has played a key role in building a corporate broking arm next to the already established stockbroking operation run by the firm’s founder, CEO and well-connected City broker, Michael Parnes. Among the growing corporate client list, which is entirely focused on natural resources stocks, is Range Resources (LON:RRL) – an AIM and ASX listed oil and gas exploration and production company whose popularity among investors is reflected in astonishing trading volumes. With Range’s recent announcement that exploration drilling is now underway on its licences in the former Soviet state of Georgia, plus indications that drilling could soon start in Puntland, the news flow and Gray’s broker notes are flowing fast.

Barney, tell me about Old Park Lane Capital and the companies and individuals the firm works with?

Old Park Lane Capital has a very simple structure; there are two parts. You have got the ultra high net worth individuals, including a lot of friends and family, and we have got a team of brokers on that side. Michael has got incredible connections and he’s built the business up through reputation and performance. It is very much a gentleman’s stockbrokers with very high service and very much about dealing with individuals. On the other side of the Chinese wall, we have corporate broking where we are purely focused on natural resources. Obviously there is mining and oil and gas but we do have a couple of clients that are involved in alternative energy – we have just signed Altona (LON:ANR), which is a classic company that gets overlooked because it doesn’t fall neatly into one of two camps.

Phil Swinfen, who is…

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Range Resources Limited is an exploration and production company. The Company is engaged in oil and gas exploration, and development and production in Trinidad. It holds interests in non-core oil and gas projects in Georgia and Guatemala. It holds interest in three onshore production licenses: Morne Diablo, South Quarry and Beach Marcelle, as well as interests in two exploration blocks: St Mary's and Guayaguayare. The Company's waterflood programs include Beach Marcelle South East block and Morne Diablo Expansion project. The Company's Beach Marcelle field is located on the eastern side of Trinidad, where various operators have processing facilities, and oil and gas pipelines that pass through the field. The Company is focused on the acquisition of various projects. It focuses on constructing a water pipeline to connect the gathering and injection stations at the Morne Diablo field to a water treatment facility. Range Resources (Barbados) Limited is a subsidiary of the Company. more »

LSE Price
0.025p
Change
 
Mkt Cap (£m)
4.1
P/E (fwd)
n/a
Yield (fwd)
n/a

Red Emperor Resources NL is engaged in oil and gas exploration. The Company's principal activities are focused on identifying and exploring oil and gas in South East Asia and the Republic of Georgia. Its segments include Georgian Exploration & Evaluation; Philippines Exploration & Evaluation and Treasury. The Company has projects located in South East Asia and Georgia. The Company in South East Asia has entered into a Farmin Agreement with Otto Energy Philippines Inc. to farm into the prospective offshore Philippines Block, Service Contract 55 (SC55). Its SC55 is located in the southwest Palawan Basin and covers an area of approximately 9,880 square kilometers. Its Georgia project is located in the Republic of Georgia and covers an area of approximately 6,500 square kilometers. Its Philippines operations include Hawkeye-1 exploration well, which is drilled to the depth of approximately 2,920 meters with the reservoir intersected at approximately 2,710 meters. more »

LSE Price
0.638p
Change
-1.9%
Mkt Cap (£m)
3.0
P/E (fwd)
n/a
Yield (fwd)
n/a

Altona Energy Plc is a United Kingdom-based company, which is engaged in the evaluation and development of the Company's coal resources in the Arckaringa Basin of South Australia. The Company holds interest in Arckaringa Project, which consists of coal resources of approximately 7.8 billion tons. The Company operates through the segment of evaluation of the Arckaringa coal to chemicals project in South Australia. The Company operates in Australia, China and the United Kingdom. The Company, through its subsidiary, Arckaringa Energy Pty Ltd, owns interest in three exploration licenses covering approximately 2,500 square kilometers in the northern portion of the Permian Arckaringa Basin in South Australia. The Company has three coal deposits, including Westfield (EL4511), Wintinna (EL4512) and Murloocoppie (EL4513), which lie close to the Adelaide to Darwin railroad and the Stuart Highway. The Company has no revenues. more »

LSE Price
16.5p
Change
 
Mkt Cap (£m)
0.3
P/E (fwd)
n/a
Yield (fwd)
n/a



  Is LON:RRL fundamentally strong or weak? Find out More »


2 Comments on this Article show/hide all

Proselenes 27th Apr '12 1 of 2
1

Puntland rumours around. I estimate TD around 12th May.

http://dissidentnation.com/positive-news-about-shabeel-1-well-speculated/

.

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Daytona 31st Jul '12 2 of 2
3

We have got Frontera Resources (LON:FRR), which has been a fantastic story.
.
.
we have been helping to get them into a position where we could remove most of this convertible through what was effectively a huge dilution of the share capital

I suggest that you go and ask the investors you wiped out with your hugely dilutive share issue whether they think that it's a fantastic story.

Learn some humility.

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