Range Res. ist Produzent und keiner hats gemerkt

Just seen this over on ADVFN

Afternoon all,

I have just heard from a relaible source that the Georgia rig has arrived and is currently being checked and serviced. see below

From: xxxxxxxxxxxxxxxxxxxxxx
[mailto:xxxxxxxxxxxxxx]
Sent: 16 May 2011 15:11

Jacob

Rig has arrived mate, currently off loading and getting technicals and paper work will take a couple of days. We are ahead of schedule and due to start work w/c 30/5.

S  

5:08 18/05/2011 Year High vs NOW
This is an unexpected position we find ourselves in now, I genuinely didn't believe we would breach the 17p level, but we have, so no point crying over spilt milk or any of that. This is the AIM, the lifts and drops are always going to be more exaggerated... Equally though, one piece of good news can correct all the slump of the last few weeks - momentum is key and it will take very little for this tide to turn. King Canute could not turn the tide, but King Landau can with one or two well timed announcements.

Hindsight is a wonderful thing, of course many will now wish they had topsliced more in the mid 20s and bough back in high 16s, BUT, and this is my point I guess, we are actually in a far far greater position now that we were when the SP was up at the year high a few weeks ago:

Trinidad - NOW
- Trinidad 100% to RRL. 1500 BOPD scheduled for the end of 2011 without even considering the Herrera drills.

Trinidad - BEFORE (At year high)
-Trinidad 10% to RRL. 1500 BOPD target had not been made yet and we were actually looking at 10% of somewhere between 600-700 BOPD.

Sure, there have been additional shares issued to fund this (at too low a price), but the upside is huge. If 1 or 2 herrera drill hit and have flowrates similar to their neighbours - some over 1000 BOPD - we could be looking, quite realistically at 100% of 3000 BOPD + by the start of 2012. Range expect to get between $25-$35 per Barrel post government tax and royalties in Trinidad.

So (potentially), 3000 X $25 (I'll go with lowest figure) = $75,000 per day. Very tidy.

Puntlands - NOW
- We have a letter of intent (LOI) from a drilling contractor. AOI have started the wheels in process to form a more streamlined Puntland focused company - Puntland Petroleum - an excellent indicator that we very much are GO for a Q3 drill. More specific details still to come of course (presumably after lion deal all tied up), but lots of pieces starting to fit together with this project.

Puntlands - BEFORE (at year high)
- All we had was the updated licence deal with the Puntlands government stating that 2 drills must be drilled as part of the one year renewal. Many on here, including our Poker friend and several others were still adamant that Puntlands would never be drilled - very few are saying that now...

Puntlands will happen. Is it risky?? Sure it is, but look at the upside on billion barrel + targets.... Risk / Reward is always key to any investment - the acquisitions of Trinidad and NCR have underpinned RRL, at current levels, and give us a shot at this huge giant effectively for free.

Boom (leftfield project) - NOW
- I haven't a clue. No smoke without fire and all that - hopefully this will lead into something. It certainly isn't priced in though, whatever it may turn out to be. I am an optimist, but i'm not holding my breath waiting for this one.

Boom - BEFORE (at year high)
- I had even less of a clue.. )

Obviously, Georgia was delayed, a little disappointing, but this is life, we are an oil exploration company and it is an incredibly difficult thing to transport and organise a drill in a different part of the world. I am still hopeful that they will keep to their target (in the 3rd May RNS) of an early June spud.

So, my point after all my ramblings is very simply that we are in a much better position now as a company, than we were during the highs of mid March. For a long term holder that should be all that matters. The fundamentals and potential for RRL has been improved massively.

As I said before, the tide will turn soon for RRL... There is too much going on in the next few months for the SP to stay at this rather uncomfortable low... I really can't think of another oil company with such an exciting and transformational drill program as what RRL have for 2011.

Try and stay positive and visualise where RRL could/should be in 3/6/12/18 months etc...

)
By Pearlexporter  

http://www.miningmaven.com/rokdownloads/...oposition%20May%202011.pdf

May 2011
Range Resources (LON:RRL ASX:RRS)
“Value Proposition” in the words of
Peter Landau!
“Value proposition”; is a phrase used many times
in presentations from Peter Landau, Executive
Director of Range Resources (LON : RRL ASX : RRS).
The word value can be defined as “a fair price or
return, worth in usefulness or importance” and
proposition “a proposal or topic presented for
consideration”.
In the context of Range Resources and as a result of the various deals pursued by the company over
the years, investors have certainly been presented with an impressive “Value Proposition”  

Heute wurden einige in London kalt erwischt. Es ging Intraday bis auf 14,53p runter! Das überzeichnete Placement von vor wenigen Tagen war bei 17p. Nur mal so zur Erinnerung. Der Kurs hat dann knapp im Plus zum Vortag bei 16,5p geschlossen.  

Ich habe davon nichts mitbekommen.

aus dem iii

          §Texas Asset Sale
It sounds like Range are going to crystalise their investment in the Texas projects by selling off the assets. If our interest in NCR is worth $250 Mill and lets say ECV comes in successful and is as half as good as NCR that will be cash to the sum of $375 Mill.................!!!!

That will fully underpin our M/cap based on cash alone with upside in Georgia, Puntland and Trinidad all priced in for free.

Some will like a special divi but personally I'd love PL to get aggressive with the devolpment of our current assets and seek some seriously hot prospects like South America and Africa.

Just imagine what PL could do with all that money.....We would be a serious E&P company selling of massive assets to the majors once we have developed them for 100x our initial investment.

I believe we could be the next Cairn Energy, Capped at £6+ Billion and we are hot on their tails!

Very excited to say the least! By Miracle_Boy  

Re: Texas Asset Sale
No one would pay $250m for NCR.

$250m PW10 is the expected cash flow across the life of the field. $250m doesn't account for development costs and it doesn't factor in any risks. If a buyer paid $250m they would be buying a liability.

$50m for 20 wells + production facilities is ballpark for the development costs. Apply a 25% discount for risk and a +25% discount to build in a profit margin and you're closer to the sale value.

If a buyer has $100m to invest they want to see a good return on their investment. If Range can sell NCR $100m or more after putting in $10m that's a 1000% return on investment in under 2 years. That figure will leave room for a buyer to turn a profit and be good business all round.

Also, since when did the value of ECTV shoot up from Range's buy-in value (net to gross) of a couple of million to $125m.

There's a massive gap between feet and floor if $375m is anywhere near the valuation used for Range's Texas assets. By Twissso  

...ist mir allerdings auch neu!
Klingt für mich nach Wunschvorstellungen...
Definitiv kann Range in Zukunft eine Mcap von mehreren Billionen erreichen.
Dafür muss dann aber in Georgien und Trinidad alles glatt laufen!
Wenn Puntland irgendwann (ich rechne mit 2013) dazu kommt, wer weiß, wer weiß...  

Cup-and-handle lässt grüßen ? ;-)

 

http://www.ft.com/intl/cms/s/0/...61e-00144feabdc0.html#ixzz1MpesZ71n

A must read ! Registrierung notwendig.  

http://www.asx.net.au/asxpdf/20110524/pdf/41yth6dk47jylh.pdf  

sehr günstig, momentan. Jedoch kein Wunder bei dem miserablem Umfeld.  

http://www.africaintelligence.com/AEM/oil/2011/05/...230085-ART-login

Africa Oil finds key backers
The Canadian company has struck agreements with mysterious Arab investors in order to explore blocks in Puntland.

On June 8, with the blessings of its shareholders, Africa Oil Corp will officially become owner of the assets of Lion Energy Corp active in Kenya and Somalia. While the operation will enable the Canadian company to increase its holding on the 10BB license in Kenya, it also considerably boosts its stake - and thus is commitments - in Puntland.

To be sure, the acquisition of Lion will increase Africa Oils holdings on the two onshore blocks of Dharoor and Negal from 45 to 60%. As a result, Africa Oils bosses sought and found unnamed investors for Puntland in the Middle East. The backers agreed to put up money but wont take a direct stake in the blocks.

Indeed, Africa Oil has chosen to reactivate an old, unlisted company that it owns, Denovo Capital Corp., to house its assets in Puntland. Denovo will quickly set up a subsidiary named Puntland Petroleum Corp and sell off part of its business to new investors. Once that operation is completed Africa Oil will control just 32% of the two fields and its Middle East partners 28%.

The arrangement will allow Africa Oil to avoid dipping into its own coffers too deeply. The other companies present on the two Puntland blocks are Australias Range Resources Ltd, with 20%, and Red Emperor Resources NL with 20%.

Under an accord with the Puntland government, a first well must be started on one of the two blocks by July, and a second by the end of the year. After the two wells in Puntland, the rig will move to Ethiopia for an operation in the Ogaden region where Africa Oil works in partnership with Tullow Oil.

HOT SUMMER ;-)))))))  

http://www.asx.net.au/asxpdf/20110525/pdf/41yvnzh3xd6wpp.pdf  

In case you missed it and for any newbies below.

Nice of OPL to highlight the following: We are aware that exploration mobilisation has the potential to push the shares higher than our core valuation in the short term. However, such rallies will be justified by success with the drill bit and propel Range into the next tier of E&P companies.

RANGE RESOURCES LTD
Trinidad acquisition triggers major upgrade 20 April 2011

Recommendation BUY Sector: Oil & Gas Exchange & Ticker: AIM: RRL
ASX: RRS
Shares in issue: 1,604.9m* Fully diluted shares: 1,911.9m* Market cap: £327m* Target price: 28.6p

Range announced that it will acquire 100% of three producing onshore oilfields in Trinidad. This represents a significant strategic progression for the company given that Range’s exciting exploration portfolio will now be complemented by a substantially augmented production base over the next three years. We have valued Range’s interest in Trinidad at $147m or 4.8p per fully diluted share based on conservative criteria.

Range will pay a consideration of $52m in cash and 34.8m shares for the 90% it does not already own upon completion of the deal. The transaction also includes a drilling company with nine production and drilling rigs and associated facilities. Range conservatively values the replacement cost of its drilling company at $20m.

Simultaneous with this transaction, Old Park Lane Capital has completed a placing of £20m of new Range shares to fund the initial acquisition costs. We estimate that Range also has in excess of $25m of cash excluding the placing proceeds with which to fund existing commitments.

Following the completion of the deal, Range will engage in a development drilling programme which is expected to increase production from 600bopd to 4,000bopd over the next 36 months. This target excludes any success from exploration drilling in the deeper but potentially more productive Herrera formation. Nevertheless, we anticipate that Range will spud an exploration well in the Herrera in 2011.

Elsewhere, Range expects to spud the first of two exploration wells in Georgia in June and participate in the first of two high impact exploration wells in Puntland in July. In Texas, Range is currently drilling a horizontal appraisal well on East Cotton Valley, the result of which will be known within two weeks. The company will also drill two further appraisal wells on North Chapman Ranch in 2011 with the potential to substantially boost its Texan 2P reserve base.

We have increased our fully diluted valuation of Range from 14.1p to 28.6p as the management is making huge progress de-risking the business while maintaining exposure to highly attractive exploration upside. We are aware that exploration mobilisation has the potential to push the shares higher than our core valuation in the short term. However, such rallies will be justified by success with the drill bit and propel Range into the next tier of E&P companies. (*Note that all share related numbers are on a pro forma basis).

Executive summary

Range has entered into an Option Agreement to acquire 100% of SOCA Petroleum’s interest in three producing oil fields in Trinidad assets. Range will pay a consideration of $52m in cash and 34.8m shares upon formal completion of the deal. The agreement includes two additional production milestones, where Range will issue a further 17.4m shares upon the satisfaction of each milestone.

The agreement also includes ownership of a major local drilling company which owns five onshore rigs, three production rigs and a swab rig in addition to a full workshop, pipe yard, storage tanks and facilities. Range conservatively values the replacement cost of its drilling company at $20m.

Simultaneous with this transaction, Old Park Lane Capital has completed a placing of £20m of new shares at 17p per share in order to fund the initial acquisition costs. We estimate that Range also has in excess of $25m of cash on the bala  

http://www.asx.net.au/asxpdf/20110527/pdf/41yx4sxl6gqrq3.pdf

aus iii

COMPANY UPDATE

International oil and gas exploration, development and production company,
Range Resources Limited ("Range" or "the Company") is pleased to provide the
following updates with regards to the Company's production and development
assets in Texas and Trinidad.

Texas

Work is being completed on the North Chapman Ranch fracture stimulation
("frac") program, where results have seen a dramatic increase to oil and gas
flow rates from the Russell-Bevly #1 well. Work has now been completed on the
uppermost zone of the Russell-Bevly, where indications are that the frac was a
complete success, with 150,000 lbs. of frac sand having been pumped into the
formation. Stabilised flow rates are approximately 3.5 MMcfd and 350 Bopd from
the one zone alone, which should add substantially to the overall rate and
recovery from the well once co-mingled with the other completed zones (expected
to significantly exceed the budgeted 4 MMcfd and 350 Bopd for all the producing
zones in the well). Work will now move back to the Smith well.

In the East Clarksville field, Range and its partners await the arrival of frac
equipment and crews to begin work on the recently drilled Ross 3H horizontal
well. The well was successfully drilled and cased with a 3,400 ft. later
section, with good oils shows observed throughout the horizontal drilling
phase. Frac work is expected to begin within the next 2 weeks.

Trinidad

Following on from the recently announced agreement that sees Range acquiring
100% of SOCA Petroleum (with completion to occur in the coming days), the
Company, along with operations teams in Dallas and Trinidad, is currently
finalizing an aggressive work program that is expected to see a rapid increase
in production from the existing reserve base as it moves towards its targeted
production rate of 4,000 bopd from existing P1 and P2 reserves (currently
production is 650-700 bopd). The program will also target the deeper (and
potentially bigger) Herrera formation and untested areas not currently forming
part of the current reserve base.

The work program is expected to commence in the next 30-45 days with the first
phase being 9 shallow wells in the Upper Cruse, Lower Forest, and Shallow
Forest formations, at depths of 250-2,000 ft. Based on the shallow target
depths, individual wells are expected to take approximately one to two weeks to
drill and complete, with initial flow rates expected in the range of 40-150
bopd per well. Range's technical team will also reprocess the existing 3D
seismic to upgrade the current 10 plus Herrera targets and will provide regular
updates on progress with this work. The process will also update the Company's
current reported reserves.

Added Peter Landau, Range Executive Director "We couldn't be more pleased with
the results of the recent frac work on the Russell-Bevly #1. Initial rates from
this one zone alone have surpassed what other operators are getting from
several wells combined. We are also very excited about the imminent drilling
operations in Trinidad. In preparation for what we see as an aggressive
development program designed to immediately increase oil production from the
existing fields, the Company is taking steps to ensure that the required
equipment and drilling supplies are on hand, while addressing human resource
needs to meet the additional administrative and operational demands."

Yours faithfully  

 

hab dich bis eben gar nicht bemerkt, sorry. Also mit Puntland brauchst du mich nicht fragen, da halte ich noch gar nichts von... in 2-3Jahren vielleicht. Man hatte zuletzt einige Ankündigungen oder eher Androhungen, dass Africa Oil doch aktiv wird, mal sehen.

Georgien wird demnächst recht spannend, hier geht es im Juni ja mit der Bohrerei los, danach wissen wir alle mehr. In den RRL Sektoren wurde ja vorher eine Gas-Analyse gemacht und daraus hochgerechnet ergaben sich diverse Werte... we will see. IMO

Im iii wird schon manchmal ordentlich übertrieben und hochgelobt, also alles mit Ruhe und Bedacht im Auge behalten.

Gruß  

13:21 29/05/2011 NCR flow rates
I spent a few hours going through RNS's and presentations, trying to work out the impact the improved flow rates in NCR can have in Range's development.

Looking at the last Half Year Accounts, it seems that the net income from NCR for the period 1st July 2010 - 31 Dec 2010 is $456,522 (page 11 below)

http://www.asx.com.au/asxpdf/20110317/pdf/41xhgd5mdnv451.pdf

I couldn't find the production for this 6 month period, so the closest I have is geoff's link below, where it shows that 363,725 (MCF) and 24,010
(BBL) were produced.

http://www.iii.co.uk/investment/...0&action=detail&id=8105397

Comparing the production figures from the link above for the period 1st Oct 2010 - 31 Dec 2010 (209,998 (MCF) and 10,996 (BBL)) to the company's Quarterly Report below for the same period (235,000 (MCF) and 11,597 (BBL), there seems to be a small discrepancy in the region of 5-10%, which is not material to the point I am trying to make.

http://www.asx.com.au/asxpdf/20110131/pdf/41whwfzy3d4yn0.pdf

As I said above, the company made circa $450k in 6 months from NCR, from a production of 363,725 (MCF) and 24,010 (BBL). If we devide these figures by 182, we can get a rouph idea about the daily production. That comes to 1,998 (MCF) and 132 (BBL) per day.These daily production rates give the company something like $900k net income from NCR per year.

Following the recent fraccing, we were told that we achieved 9.3 MMcf and 800 bbl of oil per day for March. We were then told on Friday that we get an extra 3.5 MMcfd and 350 Bopd from an added zone. Let's be conservative and say that the flow rates stabilise at something like 11 MMcf and 1,000 Bopd per day. If we get these flow rates, we are talking about something like 5.5 times the gas flow rates and 7.5 times the oil flow rates achieved H2 2010. As a result, the $900k per year, can easily become $5.5 - 6m per year for Range from NCR, but MOST IMPORTANTLY can give to the operator Crest Resources, something like $20m a year.

Remember that the cost per well in NCR is something like $5m (page 10 below).

http://www.rangeresources.com.au/fileadmin/...ons/Oilbarrel_Final.pdf

This means that Crest needs to fork out circa $4m per drill and with a net income for them from NCR around $3.5-4m per year, this was a bit challenging till now. Their financial constraints is probably the reason why they agreed to give us an extra 8.19% in ECV for just $148,00. The sooner ECV gets into production, the faster they can get income coming in from an asset that was just sitting in their books till the horizontal well was finally drilled this year.

So, with the improved flow rates and the extra money coming in for Crest, we can now hopefully get into this 3-4 wells per year program that PL was talking about last August. More wells in NCR means more income for Range to use to cover it's fixed admin expenses and stuff, more reserves can be moved from P3 to P2 and P1 and as a result further underpin our current ridiculously low sp.

Throw in there a few drills for hundreds of millions of barrels (attributable to the company) that we are going for in the following 6 months (starting from Georgia in 2-3 weeks' time) and Range looks a half-decent investment to me.

What do you think?
By Houfterman

--------------------------------------------------

11:30 29/05/2011 failure is not an option
Success IS VIRTUALLY GUARANTEED...their last update on 27th May, suggests however they apply 'fracking' the well dry or not dry- suddenly springs to life with much more volumes of oil/gas than was previously thought possible!

This revolutionary 'hydraulic shale fracturing' is proving to be a complete success every time it is used. It makes sense to me. Imagine, when an explosion occurs deep into the drilled well, the whole sub-stata becomes fractured and any gas trapped in pockets forces its way under huge pressure into the only 'escape route' available...the drill hole! This in turn would enable oil to be extracted/pumped easier under its own pressure. In the last update yesterday....Peter Landau is trying to tell us something?

However the markets and investors are too slow to respond to this 'earth shattering news' (pun intended)! When they do, AND begin to realise the significance of the 'hydraulic fracking system'...and how it will greatly increase the recovery of both oil and gas volumes...Puntland Georgia and Trinidad could then become targets for further increased gas/oil volumes much higher than previously estimated.

Failure is not an option, and I'll let you into a little secret that only a few insiders KNOW, plus about every oil/gas expert on the planet.

A friend of a friend put this into my ear recently (she works for a very well known gas Co.)...there are 'plans' for thousands of ABANDONED oil/gas WELLS worldwide to be re-assessed and re-worked for possible extraction of the trillions of cu/ft of gas and literally millions of barrels of oil that is believed to have been present, but missed due to unfavourable drilling conditions! But for the 'introduction' of hydraulic shale fracking, this was never going to be an option....a well abandoned, is still there, plugged and capped, ready for hydraulic fracking and suctioning, in vast oil/gas volumes from areas in the surrounding encatchments. A prospect akin to the re-working of old mine **** heaps, different process but the principle is the same.

Range resources are not the first to use this fracking technique, those that are, have all reported 'significant oil/gas' increase in volumes!

http://www.rangeresources.com.au/fileadmin/...mpany_Update_270511.pdf

. By dickie3times

--------------------------------------------------
11:02 29/05/2011  
North Chapman Ranch Background
The North Chapman Ranch project area encompasses approximately 1,680 acres in one of the most prolific oil and gas producing trends in the state of Texas.

The North Chapman Ranch is situated within the prolific Frio producing trend just north of the Chapman Ranch in the Mobil David and Doughty Fields. The Mobil David field was discovered in 1965 when Mobil drilled the Chapman #1B well and completed the well in the Laureles Sand (now the Howell Hight). To date, an estimated 250 billion cubic feet of natural gas and more than 10 million barrels of oil have been produced from this field, primarily from the Anderson sandstone. Recently, several operators in the area have been successfully developing the deeper Howell Hight formation with some wells exhibiting flow rates in the 6-9 million cubic feet per day range.

Statement, issued by 'US, House of Representatives' First Committee on Energy and Commerce
(this link is very relevant to this discussion)

http://www.scribd.com/doc/53259585/Hydraulic-Fracturing-Report-4-18-11
============================================
Putting to one side all the other operations and jv's...The North Chapman Ranch ops seem to be less read or studied, yet imho here we have the POTENTIAL of a huge GAS DISCOVERY that could set the trend for the sp to break out to levels never yet anticipated for GAS!
GAS, just might be the 'icing on the cake, significantly before any 'BIG OIL'finds are proven....
....I never invested in Range for their GAS potential, mainly for the HUGE prospects in Georgia (which still stands, and Georgia is always on my mind)....but now I believe, as 2011 moves towards Q3- Q4, I believe By dickie3times  

Lets see what BMD brings.

http://www.reportsnreports.com/reports/...als-and-alliances-prof.html

Range Resources Ltd. (RRS) - Oil & Gas - Deals and Alliances Profile



Published By: GlobalData
Published:March 2011
No. of Pages: 47
Product Code: GlobalData10000
Discounted Price:


Report Description
Table of Contents

Range Resources Ltd. (RRS) - Oil & Gas - Deals and Alliances Profile
Summary
Range Resources Limited (Range Resources) is an oil and gas exploration company. Range Resources is engaged in finding and delineating natural resources in the oil, gas and mineral sectors in Georgia, Puntland, Somalia, and Texas. Currently, Range Resources holds 100% interest in all mineral and hydrocarbon exploration and development acreage of approximately 100,000 square kilometer in the Somali state of Puntland. Range’s primary areas of focus include Puntland, Somalia where it holds a 20% working interest in two production sharing agreements for the Nogal and Dharoor Blocks. In 2009, the company acquired 25% interest in the North Chapman Ranch project in Nueces County, Texas. Range Resources is headquartered in Western Australia, Australia.
Range Resources Ltd. (RRS) - Oil & Gas - Deals and Alliances Profile provides you an in-depth data and trend analysis of the company’s mergers and acquisitions (M&A) and financings. The report provides detailed information on M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnership transactions registered by the company over a five year period. The report portrays detailed comparative data on the number of deals and their value subdivided by deal types, markets, and regions, besides highlighting the company's major recent financial deals.
Data presented in this report was derived from GlobalData’s proprietary in-house Oil & Gas eTrack deals database and primary and secondary research.
Scope
- Financial Deals - Analysis of the company’s financial deals including M&A, Equity/Debt Offerings, Private Equity, Venture Financing and Partnerships.
- Deals by Year - Chart and table displaying information on the number of deals and value reported by the company by year, for a five year period.
- Deals by Type - Chart and table depicting information on the number of deals and value reported by the company by type such as M&A, Equity/Debt Offering etc.
- Deals by Region - Chart and table presenting information on the number of deals and value reported by the company by region for North America, Europe, the Middle East and Africa and South and Central America.
- Deals by Sector - Chart and table showing information on the number of deals and value reported by the company, by sector.
- Major Recent Deals - Information on the company's major recent financial deals. Each such deal has a brief summary, deal type, deal rationale, deal financials and Target Company’s key financial metrics and ratios.
- Business Description - A brief description of the company’s operations.
- Key Employees – A list of the key executives of the company.
- Important Locations and Subsidiaries – A list and contact details of key locations and subsidiaries of the company.
- Key Competitors – A list of key competitors of the company.
- Key Recent Developments – A brief on recent news about the company.
Reasons to Buy
Get detailed information on the company’s financial deals that enable you to understand the company’s expansion/divestiture and fund requirements.
- The profile analyzes the company’s financial deals by region, by year, by business segments and by type, for a five year period.
Understand the company’s business segments’ expansion / divesture strategy
- Deals are presented from the company’s core business segments’ perspective to help you understand its corporate strategy
Access detailed information about the company’s recent financial deals that enables you to understand the key deals which have shaped the company  

REPORT ONLINE: PASSWORD: GLOBAL  

Tuesday, May 31, 2011
LSE news summary:

http://www.proactiveinvestors.co.uk/companies/...lf-mining-28830.html

Range Resources (LON:RRL,ASX:RRL) spiked more than 8 per cent in afternoon trade after broker Old Park Lane initiated coverage of the stock with a buy and bullish 28.1 pence a share price target. It follows a “very positive update” last week from oil and gas explorer, which has assets in the US, Caribbean, Georgia and Puntland in Somalia.  

Range Resources LTD - Acquisition of 100% of Trinidad Assets Completed

1 June 2011 The Manager Company Announcements Australian Securities Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By e-lodgement ACQUISITION OF 100% OF TRINIDAD ASSETS COMPLETED International oil and gas exploration, development and production company, ...

http://moneyam.uk-wire.com/...rchtype=2&words=Range+Resources+LTD  

Bezahlter Report, was solls....trotzdem informativ.
Range wird momentan mit 38 Pence bewertet, fully dilluted...
Sieht aus, als wenns bald losgeht...

http://www.stockopedia.co.uk/research/high-impact-drilling-57274/  

http://www.asx.net.au/asxpdf/20110623/pdf/41zd5gy1rsvz0m.pdf  

http://www.asx.net.au/asxpdf/20110628/pdf/41zgkq6f6bn1n6.pdf


East Texas Cotton Valley

If successful, the Ross 3H well is expected to launch a development program of 15-20 additional horizontal wells, each of which could potentially recover between 200,000 and 500,000 bbls.

--------------------------------------------------

Georgia

The Company is pleased to announce that the exploration drilling rig and
associated equipment that will be used for the Company's two well exploration
program in Georgia arrived at the port of Poti in Georgia recently and is now
on site being erected with a scheduled spudding date of early July. A total of
40-50 personnel will be conducting the drilling program on a 24 hour basis.

--------------------------------------------------

Trinidad


Trinidad

The Company is also pleased to announce that it is on track to commence the
shallow target development drilling program (depths to 1,500ft) in Trinidad
involving 15-20 wells to be completed before year-end utilising a number of the
Company's drilling rigs. It is anticipated that the first well in the program
will commence around the end of July with the Company to provide regular
updates on the progress of the shallow well program. The Company is also
finalising plans for an initial well to test the deeper Herrera formation
target with an indicative proposed spudding date in late Q3 / early Q4.