Range Resources (AIM:RRL)

Range Resources is an exploration company with its principal activity directed towards finding and delineating natural resources in the oil, gas and mineral sectors in Puntland, Somalia. Puntland is believed to have all the geological requirements to become a commercial oil-producing region. Range has two Production Sharing Agreements (PSAs) for the Nogal and Darin Blocks, two particularly promising basins.

Undiscovered oil-in-place resources in the Nogal block are estimated at net 860mmbbl. A successful project in this Near Shore zone would mean that new reserves could be rapidly placed on production, largely from shore based facilities.


Fox-Davies Capital recently initiated coverage with a price target of 50p.

Bought in on the back of below RNS..
Let's see how it goes for a while...anyone still in ?

13 October 2009

DRILLING UPDATE - SMITH #1 WELL, TEXAS

Update by Australian based oil and gas explorer Range Resources Limited (ASX:
RRS; AIM: RRL) ("Range" or "the Company") on its exploration drilling program
in the North Chapman Ranch area, Texas.

Smith #1 well, North Chapman Ranch

The exploration well Smith #1 spudded on 4 September 2009. Surface casing was
set and cemented at 1,528 ft (465m) and the well was subsequently drilled to
the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were
acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly
thereafter. The well is currently being prepared for drilling to the proposed
total depth of ~14,200' (4,329m).

Name of well Smith #1

Spud date 4 September 2009

Current depth ~11,334 ft (3,456m)

Proposed total depth ~14,200 ft (4,329m)

RRS beneficial 25%
interest


Figure 1: Unit Texas Rig #35 drilling ahead on Smith #1 well - please see website.

Background on North Chapman Ranch

Range holds a 25% working interest in the drilling of Smith #1 well. The well
shall be drilled to an approximate depth of 14,200 ft (4,329m) or to a depth
sufficient to test the Howell Hight formation. If successful, the Smith #1 well
could trigger significant oil and gas production and development drilling with
very attractive economics, at a time when exploration and development costs in
the US have dropped dramatically.

Range will continue to update the market on a weekly basis during its
exploration drilling program.

Bit of interest here.

Holding a few here could be worth 20p in time.

Top riser today plenty of interest and possible news from Texas/Georgia coming soon

Could be the next GKP here and valued at less than 10mill.

you must be joking when are you going to dump?

Halifax... mitzy dump....noooooooooooooo.....:)

Held since October which makes me a rich person...not that I'm selling for at least 20p.

News due from Australia Sunday night.

I am guessing the news will about Puntland.

Also, Results coming in a week for one of the test drills, seismic equipments movin into another site too, doesn't look at all bad to me, lets see how the next month goes.

I am a longterm holder and this is the beginning of the excitement.

mitzy did you dump this shooting star?

No halifax au contraire I bought a few more today..lol

So you missed the boat again.

i am in long here - this will be worth much more q2 2010 - prob 10 to 15p or more - then onwards & upwards - gl

lol halifax my average is 3p so treading water I like them so will hold lt.

Up 20% this am possibly 4p today.

Up 25% this pm expecting Texas news Friday

Up another 10% today with nws expected Friday this could go all the way.

No rns today maybe early next week.

Bought in at 4p already making a profit Looks good.