Range Resources Limited is a dual listed (ASX:RRS; AIM:RRL) Trinidad-focused independent E&P company, with a 100% interest in three onshore production licenses, namely Beach Marcelle, South Quarry and Morne Diablo, as well as additional highly prospective exploration acreage on Guayaguayare license (farm in) and newly awarded St Mary’s licence.The Company is focused on growing its production through waterflood projects, combined with extensive shallow onshore development drilling programme.

The Company has independently assessed Proved reserves (2P) in place of 22.1 MMBO.

Range has further interests in Guatemala; Puntland, Somalia; Colombia; and Georgia.


http://www.rangeresources.co.uk/about.asp

Joint Venture Agreement On Georgian CBM Project
PRNW


18 February 2013


The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000


By e-lodgement

JOINT VENTURE AGREEMENT ON GEORGIAN CBM PROJECT

Highlights:

- Agreement reached on the joint development of the Coal Bed
Methane ("CBM") and conventional gas potential around the Tkibuli-Shaori Coal
Field with Georgian Industrial Group ("GIG");

- Tkibuli Project has estimated Contingent Resources of
approximately 400 bcf of CBM gas (mean 100% basis);

- GIG is the largest industrial holding company in Georgia;

- The fast-track assessment and development program is designed for
gas production and sales to potentially begin within 18 months;

- GIG to purchase all gas produced on a take or pay arrangements;
and

- Pilot project proposal to be predominantly debt financed,
reducing immediate financial commitments for Range.

Range Resources Limited ("Range" or "the Company") is pleased to
announce that the Company, along with its joint venture partners, Strait Oil
and Gas UK Limited ("Strait") and Red Emperor Resources Limited ("Red
Emperor") (together "the Consortium") have executed a heads of agreement with
the Georgian Industrial Group ("GIG") with respect to the joint development of
the Coal Bed Methane project (CBM) and conventional potential around the
TkibuliShaori Coal Field ("Tkibuli") in the Republic of Georgia.

Terms of Agreement

GIG and the Consortium will jointly establish a Development Company
on a 50:50 basis. The Development Company will be commencing feasibility and
technical studies, followed by an initial three to four well pilot project.
The appraisal / pilot production wells will be drilled first to clarify flow
rates and other key parameters including optimum well construction /
completion strategy, well spacing and water treatment, prior to full scale
development. Based on the previous ARI study it is planned to execute 6 CBM
wells per annum that are forecast to produce between 0.3-0.5 mmcf per well per
day, which over a short period of time (ie. 3+ years) are projected to build
to a significant production base for the joint venture that will enable
further expansion of the CBM project.

The initial pilot project will focus on appraising targets already
venting methane, thus ensuring a higher chance of success. The work programme
is anticipated to commence in the second half of 2013 and will be
predominantly debt financed, resulting in limited financial commitments for
Range moving forward. New wells will target horizons at depths between 500 and
2,000 metres and can be drilled within 45 days. The fast-track program is
designed to allow potential gas production and sales to begin within 18 months
given the existing infrastructure and logistics. GIG have agreed a take or pay
arrangement for all gas produced by the Development Company at a 5% discount
to a regional indexed price less transportation, removing the monetization
risk so often faced with prospective CBM projects. Over the last few years
regional prices have averaged between US$8 - US$10 per Mcf.

It is the intention of the Consortium to ensure that the first well
of the pilot program counts as the commitment well with respect to retaining
Block VIb.

Tkibuli Project Overview

Tkibuli has been estimated by Advanced Resources International to
contain Contingent Resources (mean) of approximately 0.4 trillion cubic feet
("tcf") of CBM gas (Range's attributable 40% interest is 0.16 tcf). Sand
horizons have also been identified around the coal beds, which could add
additional, conventional hydrocarbon resources to those estimated for CBM at
Tkibuli alone. Over 400 exploration and non-hydrocarbon wells have been
drilled in the Tkibuli area, many encountering hydrocarbons and one producing
gas for over 35 years.

CBM has become an increasingly important source of energy around the world and
production is well established in the US, Australia and China. Access to
market is key to commercialisation and, although major pipelines transect the
country, Georgia remains almost entirely dependent on imports of foreign
natural gas. CBM production from Tkibuli, therefore, could immediately be fed
into the local energy market.

Georgia Industrial Group Partnership

The Georgian Industrial Group was established in 2006 and has
extensively invested in the local economy and continues to support prospective
businesses. GIG operates the 200MW gas-fired power station located in
Gardabani, as well as importing 25% of gas currently used in Georgia. The
power station currently does not use any gas sourced locally in Georgia.

GIG is the largest holding company within Georgia and embraces a
number of subsidiary companies operating in the energy sector, acquiring and
processing of natural resources, production of building materials, logistics
service and real estate development.

GIG's operations are concentrated on the acquiring and processing
of the Country's resources, which in turn, fosters the long-term development
and success of Georgian industries.

Executive Director Peter Landau commented:

"This is a major opportunity for the company and the significance
of the project should not be understated. The Partnership with the Georgian
Industrial Group, the largest industrial and holding company within Georgia,
is a milestone towards establishing itself in a country that still remains
almost entirely dependent on imports of foreign natural gas. The existence of
take or pay arrangements in place for all gas produced, removes the
monetization risk associated with the project. The ability to finance the
project through debt further underpins the proposition, by removing any
immediate financial commitments to Range. We believe that the deal has huge
potential for the company in the next three to five years as the production
base grows, and will generate significant revenues for the Company. The joint
venture compliments Range's current focus on production growth, whilst
ensuring its operational and financial capabilities remain with Trinidad."


Yours faithfully

Peter Landau
Executive Director

Range Resources strikes Georgian coal seam gas development deal
5:50 am by Proactive Investors



Range Resources (ASX: RRS) and its partners have reached an agreement with Georgian Industrial Group to jointly develop the coal seam gas and conventional gas potential around the Tkibuli‐Shaori Coal Field.

The fast track assessment and development program is designed to bring the Tkibuli project, which has gross estimated Contingent Resources of about 400 billion cubic feet of CSG, into gas production and sales within 18 months.

GIG, the largest industrial holding company in Georgia, will purchase all gas produced on a take or pay arrangement at a 5% discount to a regional indexed price less transportation, removing the monetisation risk. Regional prices have averaged between US$8 and US$10 per 1000 cubic feet of gas.

“This is a major opportunity for the company and the significance of the project should not be understated,” Range executive director Peter Landau said.

He added the ability to finance the project through debt underpinned the deal by removing any immediate financial commitments to Range.

“We believe the deal has huge potential for the company in the next three to five years as the production base grows and will generate significant revenues for the company.

“The joint venture compliments Range’s current focus on production growth, whilst ensuring its operational and financial capabilities remain with Trinidad.”

The joint venture will start feasibility and technical studies before carrying out a three to four well pilot project.

This pilot program will focus on appraising targets already venting methane and is expected to start in the second half of 2013.

New wells will target horizons at depths between 500 and 2,000 metres and can be drilled within 45 days. The consortium will ensure that the first well of the program counts as the commitment well for Block Vlb.

Range and its consortium partners will form a development company on a 50:50 basis.

Tkibuli

Tkibuli has been assessed by Advanced Resources International to host about 400Bcf of CSG.

Sand horizons have also been identified around the coal beds, which could add additional conventional hydrocarbon resources.

Over 400 exploration and non‐hydrocarbon wells have been drilled in the Tkibuli area, many encountering hydrocarbons and one producing gas for over 35 years.

The appraisal and pilot wells will clarify flow rates and other key parameters including optimum well construction and completion strategy; well spacing; and water treatment prior to full scale development.

Based on previous studies, Range expects to execute 6 CSG wells per annum, each capable of producing between 300,000 and 500,000 cubic feet of gas per day.

Range has a 40% interest in blocks Vla and Vlb that cover a total of 7,000 square kilometres.

Georgian Industrial Group

GIG is the largest holding company within Georgia and embraces a number of subsidiary companies operating in the energy sector, acquiring and processing of natural resources, production of building materials, logistics services and real estate development.

Its operations are focused on the acquiring and processing of the country’s resources, which in turn fosters long-term development and success of Georgian industries.

Analysis

While Trinidad remains the focus for Range Resources, the deal with Georgian Industrial Group brings a heavyweight presence to support development of Tkibuli coal seam gas and conventional gas potential.

It also removes the need to secure a buyer for any gas produced as it has already agreed to offtake any gas produced.

The regional pricing of between US$8 and US10 per thousand cubic feet is also attractive as it compares favourably to prices in Australia, which averages between from A$4 to A$6 per thousand cubic feet in the Eastern States.

Taken together, this has the potential to be a strong second arrow in Range’s quiver of projects.

Closed up today 13.48% at 4.80p

http://www.citation.net.au/media/articles/ASX-Announcements/20130220-Atzam-4---Probable-Reserves--188/1196564.pdf

Well done Dreamcatcher on "Giving this BB a smarter look".........Lets hope the Range SP continues its journey Northwards!

Interesting read on the Citation drilling.

GLA........Gerponville18

StockMarketWire.com
Range Resources said an independent report estimated probable reserves of 2.3 million barrels of oil in the Atzam #4 well in Guatemala.

Range's update followed its recent acquisition of a 19.9% interest in Citation Resources Ltd, and 10% at the project level.

The probable reserve at Atzam #4 excluded contributions from the lower C18 and C19 sections, due to minimal log data, with testing recommended in future wells, Range said in a statement.

It added that preparations continue for flow testing the lower C17 and upper C18 carbonate sections with an electrical submersible pump (ESP).

There were estimated flow rates of 300-400 bbl/day, with an 85-90% oil cut from the lower C17 and upper C18 carbonates with an operational ESP, based on results to date.

Further, significant moveable oil identified in electric logs in the C13 and C14 carbonates still untested.

Thanks G, the old thread was just that and out of date .

Closed up 10%

Better than in the red - still a long way to go for us. I certainly won't hold my breath and worry about capital gains tax for now. UGH! I wish.

lol

Large volume today, recovered and held up well.

Good volumes all week; best day was yesterday.

Rumours......... Citation have put a halt to any share dealing until Monday (This is not the rumour.....RNS issued by Citation this morning); the rumour is; Range to become majority shareholder = Buyout Citation. I assume this would come from the imminent sale of Texas?

So we should have some news of sorts definitely on Monday?

We have so much to look forward too from Range. This is all in my opinion of course. I hope so anyway; I have been topping up from the low 3's. I am more confident in the SP reaching 10/12p, not sure on the 25p.......Fox Davies expert analysis, not mine........I do hope I am wrong though!

GLA.........Gerponville18

Well done with that news G.

Up just under 6%

Wake me up dc please when it goes up 150% - only joking!! A young mother of three is missing and has been since yesterday morning from an area about 6 miles away from me, the police have put posters up all over the place and joe public are all out looking for her - how sad, I sincerely hope they find her alive and well.

That may be a long sleep. Thats sad 3m, fingers crossed she will be found ok.

Suspended on the 21st and a trading halt on the 25th (linked to post 12)



http://www.asx.com.au/asxpdf/20130225/pdf/42d7hgc619kdnz.pdf

http://www.asx.com.au/asxpdf/20130226/pdf/42d8lsb50x1w3z.pdf

placement
http://www.asx.com.au/asxpdf/20130226/pdf/42d8ltyyrqmm8r.pdf

Petrotrin expects increased oil production in 2013 – Breaking News – Trinidad and Tobago
26th Feb
http://www.directorstalk.com/petrotrin-expects-increased-oil-production-in-2013-breaking-news-trinidad-and-tobago/

Range Resources investing US$70-US$100 mill in T&T

http://www.guardian.co.tt/business-guardian/2013-02-27/range-resources-investing-us70-us100-mill-tt

The young mum of three was found dead yesterday morning in a field - post natal depression - how tragic!!!! Very sad around this area at the moment, although I did not know her it is still horrible to think that such a young life 31yrs. has ended up that way leaving a 3 month old baby and two little boys plus her husband, family and friends. God love them all, that is all I can say. It makes all of our troubles seem like little ones.

Sorry to hear that sad news 3m.

Very sad indeed.

3
Mar 2013
The Energy Report – Range Resources Ltd. (RRS:ASX; RRL:AIM).
By News Teamin News
- See more at: http://www.directorstalk.com/the-energy-report-range-resources-ltd-rrsasx-rrlaim/#sthash.F12TL4em.dpuf

Early bath in auction +9.8%

Some volume wouldn't go amiss!

Investors in Range Resources (RRL) have had a torrid time over the past 12 months as shares in the high profile E&P company slipped from 16p to 3.2p. However, the stock chart suggests that chief executive Peter Landau might have managed to arrest that steady decline. Positive news from operations in Trinidad and Guatemala together with signs that all might not be lost in the former Soviet state of Georgia (where a coalbed methane JV has been set up) have dragged the shares back over 5p.

Elsewhere, shares in Gulf Keystone Petroleum (GKP) have suffered so far in 2013 amid protracted ongoing litigation between the company and its former partners. Even news in February of a new discovery at its Akri-Bijeel Block in the Kurdistan did little to excite the shares. However, with signs that the court action should be coming to end fairly soon (although a judgement may take some months), the stock has begun to drift higher over the past week. Gulf Keystone has big plans to drive its massive Shaikan field into development and production this year, and step up from AIM to the Main Market.

Debt Financing and Trinidad License Extensions

10 YEAR LICENSE EXTENSIONS AND US$35M DEBT FINANCING FACILITY

Range Resources Limited ("Range" or "the Company") is pleased to
announce the following update with respect to the Company's Trinidad
operations with the following highlights:

- Morne Diablo and South Quarry licenses extended for an additional
ten year period;

- 3,000 acres added to the east of the existing Morne Diablo
license, extending current Lower Forest development trend while adding
potential for other, deeper targets;

- Enhanced Royalty reduced from previous farm out agreements - net
back increased to $40 / bbl based on 1,000 bopd increasing to $50 on 2,000
bopd; and

- Finalisation of US$35m Debt Financing Facility.

StockMarketWire.com
Range Resources said it has sold its Texas assets for a total of $30 million, with $25 million payable at closing plus $5 million in royalty payments.

Subject to final due diligence, the company is selling its interest in the North Chapman Ranch and East Clarksville fields. Closing is expected to occur in the coming weeks.

Half Yearly Report

http://www.moneyam.com/action/news/showArticle?id=4555657

Range Resources solid operational progress mentioned by Old Park Lane Captial
Posted on: Mar 15th, 2013 - 12:45 pm
http://www.directorstalk.com/range-resources-solid-operational-progress-mentioned-by-old-park-lane-captial/

Range Resources reveals rise in revenues and oil production
Fri 15 Mar 2013



LONDON (SHARECAST) - Range Resources said on Friday revenues for the last half of 2012 jumped 53 per cent on the back of increased oil production.

The oil and gas company reported revenues of $15.7m, up from $10.2m a year earlier, driven by a 60% increase in oil and liquids production to 164,693 barrels.

The group narrowed its post-tax losses by 15% to $9.6m for the period as the company announced a 29% rise in proved, provable and possible (3P) net attributable reserves across three onshore Trinidad licences.

A recent reserves report revealed a 30.5m barrels increase in total unrisked net prospective resources across the company’s licences to 40.5m barrels.

During the period, the firm’s Lower Forest development programme on the Morne
Diablo licence in Trinidad reached record peak production of 1,000 barrels of oil per day, a 120% jump since acquisition.

Strong operational performance was also achieved in prospects in Texas, Columbia, Puntland, Guatemala and Georgia.

Shares fell 6.64% to 4.22p at 11:26 Friday.

Indochine set for bonanza zone-Range Resources Ltd, Red Emperor Resource
Posted on: Mar 16th, 2013 - 6:48 amhttp://www.directorstalk.com/indochine-set-for-bonanza-zone-range-resources-ltd-red-emperor-resource/

triples24 - as i posted elsewhere ..... which bit of bugger off do you not understand? .... you and your spam are not welcome here

Dont worry cynic - Mr Tom WILSON gone so will triples 24 on Monday. :-)) (Reported to money am last night as was Tom wilson a couple of weeks ago)

What is going on with this company ? 300 workers in TT and no news, must be drinking all the profit in tea. In the 3's again, looks like the market is not buying the talk and no action.

Gone to the dogs!!

Fox-Davies Gives Range Resources (RRL:LN) Price Target of 25p

http://akgulian.com/fox-davies-gives-range-resources-rrlln-price-target-of-25p/214905/

Chuffing heck we may stand a chance yet!!!!! They did not say which year haha!! Is it worth buying more to average down or put the money in my case as I am older than you dc to funeral expenses? Oh! I won £2.60 on Tuesday night in the euromillians, 60p profit and got 3rd and 5th in the National - I wont break even but hey ho I will get something back. Sods law, I could not get the 60-1 winner. Enjoy the rest of the weekend and sunshine.

The year is perhaps out of Fox - davies hands and in ranges. ''Is it worth buying more to average down'' Again only you can decide that. I have not and for the future not putting more into this company. I'm just waiting to sell at my exit price I need. Drinks all round on your win 3m lol. Whats that word ''sunshine''? :-))

Exclusive: Breaking News Range Resources set to announce merger and placing By Tom Winnifrith — Sunday 14 April 2013


A reliable industry source tells me that AIM and ASX listed Range Resources (RRL) is in advanced stage merger discussions. The transaction proposed will resolve the issue of how it is to fund the growth of its exploration and development programme. The details are not fully known to me but I have been told that…
The merger is with Australia listed African Petroleum, one of the many ventures of serial entrepreneur and convicted heroin dealer Frank Timis. It is an all share transaction but at this stage I do not know what share of the enlarged equity Range will get.

At 3.94p Range is valued at £102 million. African is valued at £275 million at 25 Aussie cents.

British investors will remember Timis from the farce that was Regal Petroleum (RPT) but African Petroleum has a strong cash position (unlike Range) and some interesting assets in Cote D’Ivoire, Senegal, Gambia, Liberia and Sierra Leone. 

I understand that the all-paper merger will be accompanied by an institutional placing of around $25 million.






http://www.shareprophets.com/analysis/31/exclusive-breaking-news-range-resources-set-to-announce-merger-and-placing

15 April 2013


PRECAUTIONARY SUSPENSION

Range Resources Ltd ("Range" or the "Company") wishes to announce that its
shares have been placed into a precautionary suspension on the AIM market until
such time as it can issue a clarification announcement in respect of a
potential significant transaction. Range's shares have also been placed in a
trading halt on the Australian Securities Exchange.

AIM and ASX favourite Range Resources (LON:RRL) had small cap investors glued to their computer screens as it stopped shares changing hands pending the announcement of a “potential significant transaction”.

HALF YEARLY REPORT

http://www.rangeresources.com.au/framework/documents/displaydocument.asp?doc=1032

No rns today, so looks like another trade halt Thursday

Chuffing great - not.

Either be 2p on the next rns or erhhh ?

Hope it is not By Bys forever.....

Well lets just hope its for the best. Range looks to me to have no expertise in getting the oil out the ground. So may be we will get someone on board that does. A lot of rumours out there at the moment.

I do smell a share consolidation and a placing,may be wrong.

Dirty word to me, share consolidation as you know, however if that what it takes we shall have to take it on the chin.............

Just hope Fox Davies were aware of the latest news when they gave out the 25p future forecast ?

A very tight ship, with no leaks. Read all the boards and no one has a incline of what's going on. Looks like another day in suspension tomorrow .

Been in suspension since the 15th, Lets hope for a RNS on the ASX tonight.

I am as much a mushroom in the dark as everyone else dc. Not funny.

Will be good to be a mushroom in the light of news 3m.

Merger with International Petroleum RNS

http://www.asx.com.au/asxpdf/20130424/pdf/42ffnkf7g2kbs3.pdf

Restoration - Range Resources Limited

The trading on AIM for the under-mentioned securities was temporarily suspended. The suspension is lifted from 24/04//2013 7:30am, an announcement having been made.

Ordinary shares of No Par Value, fully paid (DI) (B28QX48)(AU000000RRS3)

If you have any queries relating to the above, please contact the company's nominated adviser on +61 (0) 9480 2500.

Range Proposes to Undertake Strategic Merger

RANGE RESOURCES PROPOSES TO UNDERTAKE STRATEGIC MERGER WITH
INTERNATIONAL PETROLEUM

I see that Frank Timis is a shareholder! Not sure if that's good or bad.
"An acceptable Relationship Agreement being entered into with Mr Frank Timis, a director and the major shareholder in International Petroleum, with a current 37.7pc shareholding via Safeguard Management Limited. As a result of the proposed merger, Mr Timis would ordinarily end up with a shareholding of approximately 14% in the enlarged Range."

However, this doesn't seem such a bad deal for RRL which was going nowhere recently, though the 3:2 ratio could have been better. "The merger would be undertaken by way of Range acquiring all the issued capital of International Petroleum." I see pretty much every other b/b is now talking about a share consolidation with the shares in issue being so high, assuming the merger goes ahead. One good thing seems to be that Peter Landau is going to be pushed into the background if the merger continues. Most seem pretty unanimous in their criticism of PL's inability to move RRL in any constructive move forward and the continual erosion of the share price.

Good views Harry.

Looks like the market likes the deal, not.

Range slumps on International Petroleum merger




By Darshini Shah | Wed, 24/04/2013 - 09:26






Shares in Range Resources (RRL) plunged almost 20% on Wednesday, before recovering to an 11% drop, as it proposed a merger with International Petroleum on a ratio of three Range ordinary shares for every two International Petroleum ordinary shares, valuing International Petroleum at approximately AU$105 million (£71 million).

International Petroleum holds "highly prospective" assets in Russia, Kazakhstan, and Niger with total proved, probable and possible (3P) reserves of 233 million barrels (mmbbls) of oil and best estimate prospective resources of 761 mmbbls of oil and 157 billion cubic feet (bcf) of gas.

It is hoped that the merger will create an Australian Securities Exchange and AIM-listed oil and gas company "with a strong production growth profile from the ongoing development of its significant reserves and resources base". The key near-term focus of the merged entity would be the expansion and development of projects in Trinidad, Russia and onshore Africa.

The entity would hold estimated proved (1P), proved and probable (2P) and 3P reserves of 23.6 mmbbls, 100 mmbbls and 264 mmbbls of oil respectively, and best-estimate prospective resources of 802 mmbbls of oil and 156 bcf of gas.

Combined current production for the entity would be approximately 1,000 barrels of oil equivalent per day (boepd), with a target of increasing production to 10,000 boepd from conventional operations and an additional 3,000 boepd from unconventional operations by the end of 2015.

In Trinidad, Range Resources holds 100% in three onshore production licences, with independently assessed 1P reserves in place of 17.5 mmbls, 3P reserves of 25.2 mmbls and an additional 40.5 mmbls of unrisked best-estimate prospective resources. Current production across the fields stands at c. 800 bopd, with a number of activities currently underway aimed at increasing conventional production to 6,000 bopd in 2015 along with 3,000 bopd from the company's waterflood projects.

In Russia, International Petroleum holds interests in five projects: the Kransnoleninsky Project (75%), Yuzhno-Sardakovsky Project (100%), Zapadno-Novomolodezhny Project (100%), Yanchinsky Project (100%) and Druzhny Project (75%). From August to December 2012, International Petroleum produced 25,000 barrels of oil from well number 52 at the Zapadno-Novomolodezhny Project at an average flow rate of 197 bopd, which is projected to increase to 300 bopd with a planned pump upgrade this quarter.

Following the planned completion of a 16-kilometre pipeline during the fourth quarter of 2013 and the first quarter of 2014, an additional 10 wells have been proposed, which are projected to increase production by a further 4,000 bopd. An additional 20 well targets have been mapped, providing excellent potential to further increase production.

In December 2012, International Petroleum was awarded production-sharing contracts (PSCs) over four highly prospective licences in south-east Niger: Manga 1, Manga 2, Aborak and Ténéré Ouest, covering a combined area of over 70,000 square kilometres. The blocks are located in the West African Rift Subsystem, which is a component of the Western Central African Rift System and include parts of the Termit and N'Dgel Edgi rift basins. Recently increased activities by a range of international organisations have highlighted the significant untapped potential of this vastly underexplored region.

"Range Resources and International Petroleum have excellent project and management synergies, with advanced oil and gas projects across eastern Europe, Trinidad, central Asia, Latin America and Africa," commented Peter Landau, executive director of Range Resources.

"The merged entity will have solid oil and gas production that is targeted to increase substantially, backed by a considerable reserve and resource base.

"International Petroleum's production assets in Russia will complement our own core Trinidad assets in building a very significant production base to grow from. International Petroleum's recently acquired assets in the African nation of Niger will also be a strong exploration upside fit with our own portfolio of large potential onshore projects."

The company will be looking to appoint Chris Hopkinson as a managing director of the merged entity. Hopkinson is currently chief executive of International Petroleum and has over 23 years' experience in the oil and gas industry, including senior management positions with BG Group (BG.), TNK-BP, Yukos, Imperial Energy Corporation and Lukoil.

"Hopkinson has immense technical and operational experience which will drive the merged company's production growth in the short and medium term," Landau stated.

Range has received commitments to an AU$20 million placement to major funds and institutions and agreed to provide $15 million (£10 million) to International Petroleum by way of a secured loan over International Petroleum's Russian assets.

Landau added: "The merger will build a stronger, more robust company with greater financial and technical resources, with a particular focus on applying its onshore exploration and development expertise to growing production from its pipeline of projects. We will be able to share people and technical resources in order to maximise returns for our shareholders."

He concluded: "We feel confident that our respective shareholders will be excited by the value-creating opportunities that will be generated through this transaction."

Investor view

"Range got a stonking [good] deal here," stressed Interactive Investor discussion board user 'robjobscotland', explaining: "Combined bopd next year circa 10,000 barrels, institutions in on the act [and] the ramp up in production from the deal is very attractive indeed."

However, 'Symore Bottoms' questioned: "Do you not think that International Petroleum is overvalued at AU$105 million for a company producing just 190-odd barrels a day?"

The user added: "The other stuff about increasing production is conjecture. Plus I thought Range Resources already had enough of those wildcats on its plate with Puntland, Guatemala and Georgia, so why add Niger to the basket?

"International Petroleum also getting a good deal on the loan at 8% as they could never raise this finance themselves. All in all a cracking deal for International Petroleum, while Range Resources does all the 'leg work'.

"The only positive I guess is that Range will get a better chief executive."

'Fin8108' appeared exasperated at the news: "Every deal has been good for the medium/long term yet here we are, years down the line, 4p and still good for medium/long term. The goal posts keep moving the targets keep changing, the shares keep growing but the one thing that never ever changes is targets never get hit. So being excited about bopd in 2015 is crazy."

The user told fellow private investors: "In December last year, you were all excited about the first quarter of 2013, spouting double figures and well over 2,500 bopd. You all need to realise that tomorrow never comes will Range Resources. It never has and it never will."

But 'Shareshopper1' was of the view that the institutional investors knew that something big was due. "Why else would they underwrite this placing? And why else has news been held back for so long?" he asked.

"Exit the frightened, over leveraged and ill informed... long termers and those with vision, come back in a month or two and see where we are and what news has been released... exciting times ahead!"

Just shy of another 6% fall

Been waiting now 6 Months for the last TT drill (I think it was MD 248, so long ago cannot remember) I think it was a 6 week drill. Looks like major problems.

I've long had my money + profit from these.

What have have left, whilst being free, are now worth less than £1k.

Perhaps PL will buy a jam factory next, perhaps that's for tomorrow.

Or the day after....

or even the day after. :-))

Range Resources merger to provide foundation for production growth
By Jamie Ashcroft April 25 2013, 2:27pm Projects in Russia and Trinidad will provide the initial impetus for this period of growth


Projects in Russia and Trinidad will provide the initial impetus for this period of growth

Range Resources’ (LON:RRL, ASX:RRS) merger with International Petroleum (IOP) will provide the foundation for a period of rapid production growth, according to Range director Peter Landau.

Range revealed on Wednesday that it would merge with IOP in a deal that, at the time, valued the latter at A$105mln.

For Range investors, the merger adds exposure to assets in Russia, Kazakhstan, and Niger. Investors also benefit from the appointment of Chris Hopkinson as the chief executive of the enlarged company.

“We see that the merger will obviously be beneficial to both parties,” Landau told Proactive Investors.

“However, for Range it will bring a proven management team led by Chris Hopkinson, who has a wealth of experience and proven track record through his time with Shell and in particular with Imperial Energy where he was CEO.”

With the enlarged asset base and strengthened management team, the company aims to grow production significantly over the next two years, from 1,000 to 10,000 barrels of oil per day.

Projects in Russia and Trinidad will provide the initial impetus for this period of growth, Landau explains.

“The Russia asset will see near term production with a forecast production ramp up to circa 4,000 bopd day in the first quarter of 2014, adding to the production ramp up forecast in Trinidad.

Once the firm has established this valuable production base the focus is expected to turn to Africa, through the assets in Niger and possibly other new opportunities.

Landau explains the increasing production base will open up funding opportunities, specifically facilities tied to reserves and production.

IOP alone brings 3P - proved + probable + possible – reserves of 233mln barrels of oil, as well as prospective resources in the order of 761mln barrels of oil and 156bn cubic feet of gas.

This means that, once merged, the enlarged company will have 3P reserves of 264mln barrels, and prospective resources of 802mln barrels and 156bn cubic feet of gas.

Range has agreed to secure funding ahead of the merger for the group’s growth plans.

It will raise A$20mln through a share placing to a mixture of UK and Australian institutions and funds; 338mln new shares will be sold at 0.04p each.

Range will also provide a US$15mln loan to International Petroleum, secured against the latter's Russian assets.

Once the dust settles on the merger and the placing, current Range shareholders will own 62.4% of the enlarged company.

Landau expects that the AIM market will see the majority of the liquidity in Range’s shares, as is currently the case, though he believes that the corporate manoeuvres announced yesterday will also see an increase in the liquidity on the ASX.

Talk of questions and answers tomorrow ?

Worth a read over the weekend: (the Q & A session)

http://www.miningmaven.com/companies/aim-mining/range-resources/range-resources-international-petroleum-strategic-merger-management-q-a1/

Quarterly Activities Report and Appendix 5B

..

Range Resources eyes merger funding completion
SharecastSharecast – 15 hours ago..

LONDON (ShareCast) - Range Resources expects to complete the fundraising this week for its planned merger with International Petroleum and is close to finalising new debt finance.

The company said 67m of the 338.98m shares to be issued were allotted on Wednesday, to existing shareholder Capital Group at an average price of 0.04p, with the remainder to be allotted on or around May 3rd 2013.

AIM- and ASX-listed Range also revealed it produced 197,000m cubic feet (cf) of gas during the first quarter of the year, of which 43,000mcf was attributable to Range, and 1,725 barrels of oil.

Cash levels fell from A$7.1m to A$5.8m during the three months but the company said it had received commitment from Cayman Islands finance company Meridian SEZC to purchase $35M of five-year monetary production payment securities from Range secured against future cash flows from Range's Trinidad operations and are repayable in cash on a straight line monthly amortised basis.

Meridian has advised the company that it anticipates closing of the financing shortly.

“Great potential” of the company’s planned merger with Range Resources.
Published on May 1, 2013
Chris Hopkinson, MD of International Petroleum, tells Proactiveinvestors about the progress of his companies assets in Russia and Niger. He discusses the company’s plans to diversify and look for “something big” in Africa. He also hails the “great potential” of the company’s planned merger with Range Resources.

http://www.directorstalk.com/great-potential-of-the-companys-planned-merger-with-range-resources/

6.5% up

Closed up 8.31%

PROPOSED MERGER PRESENTATION

Range Resources Limited ("Range" or "the Company") is pleased to release a
presentation on the proposed merger with International Petroleum Limited. The
presentation outlines rationale behind the proposition with a particular
emphasis on International Petroleum and its assets.

The presentation is available on the Company’s website at www.rangeresources.com.au.

PROPOSED MERGER PRESENTATION

http://www.rangeresources.com.au/framework/documents/displaydocument.asp?doc=1048

Range Resources

The Range Resources share price has fallen around 70% over the past 12 months, but the price blipped up 2.3% to 3.6p this morning after the firm released news of its proposed merger with International Petroleum. The raising of the funding needed for the merger is apparently close to completion, with 67m of Range's 339m new shares having been placed and the rest to be allocated within the next day or two.

The merger will provide Range with access to resources in Kazakhstan, Russia and Niger, to add to its main interests in Somalia, Georgia, the USA, Trinidad and Colombia.

More market analysis can be found at www.fool.co.uk.

StockMarketWire.com=
Range Resources is currently reviewing multiple well completion options for its Trinidad operations, including the use of mini-hydraulic fracturing and horizontal drilling.

Range says that if successful, these options can potentially increase initial production rates by 5 to 10 fold.

Range said the QUN 141 well was currently being completed with logs indicating 160 ft of gross oil pay, one of the thickest Lower Forest pay sections to be encountered to date.

Range said the QUN 142 well spudded and was drilling ahead at 800 ft and was expected to encounter the same well-developed oil pay as the QUN 141 well. The company said planning had startedfor the possible re-activation of the QUN 16 well, which previously produced up to 145 barrels of oil per day, to add new reserves and production, while further extending the Lower Forest trend.

And it said several production rigs will be placed back into operation within the week to begin remedial work on up to 20 existing wells, expected to yield an additional 100-150 bopd of production.

It says the MD 248 well continues to make steady progress towards its target depth having reached 5,425 ft. and encountered a `drilling break' (a sudden increase in the rate of penetration during drilling), associated with oil sands along with hydrocarbon shows, indicating a potential oil zone at approximately 5,000 ft.

And it says it is in the process of determining the applicability of formation stimulation on the QUN 135 well, designed to maximize recovery from the multiple pay zones, including the possibility of mini-hydraulic fracture. A successful well at this location could have initial production rates of up to 200-300 bopd.

Range adds that operations will commence shortly on the South Quarry field following the recent receipt of approvals for the construction of 4 initial well pad locations with drilling in the area to start end June/early July.

Within the Beach Marcelle field, the company is planning to deepen 6 wells, which are expected to recover up to 90,000 barrels of oil per well at costs significantly lower than drilling and completing new wells.

GUATEMALA UPDATE
Range Resources Limited ("Range" or "the Company") would like to draw attention to the announcement released by Citation Resources Limited (ASX: CTR) on the current flow testing program on the Atzam #4 well in Guatemala (in which Range has an indirect attributable interest of 24%).

Citation Resources has announced that following a technical review program on the Atzam#4 well undertaken with Schlumberger, flow testing of the C13 and C14 carbonate sections of the well is expected to commence within 2 weeks.

Trinidad update full RNS

I may be wrong but I feel that the wording of the RNS has a veiled warning that more funds may be needed, therefore probably another dilution ahead. I probably am wrong though!

Must be some of the longest drills in history. Bully bull comes to mind. Gee whiz.

Must be some of the longest drills in history. Bully bull comes to mind. Gee whiz. Ends the day as per norm in the red.

Indeed it does.

Indeed it does, it does indeed! ;o)

Gone through all the flavours of jam for tomorrow now.

Hopefully not just a sticky mess left though! We could do with a lot more sticky oil however.

I'm invested in a oil company am I? We need thousands of barrels and they are talking of wells producing a hundred a day. lol

I'm sure it will be so different when the merger takes place. :-))

You sound as convinced as I am DC! :o)

Found this kim - Target price ?

http://www.directorstalk.com/wp-content/uploads/2013/05/RRL-16-05-13.pdf

Wow! Target price 13p? That's the jam on a whole slice of toast! :o)

I'm history if it gets near to that.

Not literally I hope?!

lol. What are you drinking tonight. :-))

Watered down jam!! :o)

General electric has 10.1 billion shares kim. We only need to issue another 6 billion then we are in front. lol

Range Resources targets Trinidad oil production growth
Friday, May 17, 2013 by Bevis Yeo




Range Resources (ASX: RRS) is poised to grow its Trinidad oil production with operations to complete a well that intersected one of the thickest Lower Forest pay sections encountered to date.

The QUN 141 well is currently being completed with logs indicating 160 feet of gross oil pay while drilling is currently underway on the QUN 142 well that directly to east and expected to encounter the same well-developed oil pay.

Further development on the Lower Forest pay includes the evaluation of a possible re-activation of the QUN 16 well, which previously produced up to 145 barrels per day of oil during a one week test.

QUN 16 well was drilled and tested in 1942 and logged thick oil sands that correlate with the Lower Forest reservoirs being completed by the company about half a mile to the west.

Re-activation of the QUN 16 well will be performed using one of the company’s production rigs, which have recently returned to operation following the receipt of necessary approvals.

This has the potential to not only add new reserves and production but also extend the Lower Forest trend to the east of the QUN 16 well and establishing a large area for low-risk infill drilling between the well and the current Lower Forest development at a relatively modest cost.

In addition, Range is expecting several production rigs to be placed back into operation within the week to begin remedial work on up to 20 existing wells, which could increase production by an additional 100 barrels to 150 barrels per day of oil.

Depending on the type of workover required, individual wells are estimated to require an average of 1-2 days to perform the necessary remedial work.

Lower Cruse Formation Drilling



Range continues to make steady progress in drilling the MD 248 well towards its target depth of 6,500 feet.

MD 248 well is currently at a depth of 5,425 feet and had encountered a ‘drilling break’ along with multiple gas shows requiring mud to be conditioned properly.

The shows are encouraging as they are usually associated with oil sands consistent with the Morne Diablo field.

Middle Cruse Formation Drilling

The company is currently preparing a completion procedure designed to maximise recovery from the multiple pay zones encountered by its QUN 135 well in the Lower Forest, Upper Cruse, and Middle Cruse sections.

This could include the possibility of perforating and producing the Upper Cruse pay zone while evaluating potential stimulation of the Middle Cruse.

Range is still assessing the applicability of formation stimulation in QUN 135, including a possible mini hydraulic fracture stimulation, which has been successful in other fields in Trinidad.

If successful, low-cost stimulation technology could lead to higher initial production rates and greater recoveries from the established producing horizons.

Based on historical production rates seen from the Middle Cruse formation, a successful well at this location could potentially have initial production rates of up to 200 barrels to 300 barrels per day of oil, which could be further enhanced with mini-hydraulic fracture stimulation techniques.

Other developments

Range is in the final planning stages of a new development program in the South Quarry field following the recent receipt of approvals for the construction of four initial well pad locations.

Operations will commence with site construction and fabrication of equipment to support the drilling, which is expected to start towards the end of June or early July.

Previous drilling campaigns have yielded higher than average rates and recoveries due to increased geopressure in the area.

Given the proximity to established production, the South Quarry program has a high probability of boosting production, while extending the producing trends and establishing multiple locations for future drilling.

Range has also received environmental approvals to proceed with the deepening of six wells at its Beach Marcelle licence.

It will now mobilise a production rig to test and prepare existing well bores in anticipation of deepening those wells to recover Proved Undeveloped Reserves, estimated at up to 90,000 barrels of oil per well at costs significantly lower than drilling and completing new wells.

New Technology

Range continues to evaluate exploration, drilling, completion, and production technology to maximize recovery of oil and gas from its producing areas at the lowest cost possible.

This includes mini-fraccing as well as horizontal drilling, which could increase initial production rates by between 5 and 10 times in suitable reservoirs.

Guatemala

Range associate Citation Resources (ASX: CTR) is preparing to test the two most prospective oil bearing reservoir units at the Atzam-4 well in Guatemala.

Flow testing of the C13 and C14 carbonates, which demonstrated strong oil shows during drilling, is expected to start within two weeks.

Some potential pay zones in the C16 and C17 sections will also be tested.

Citation had made the decision to test the two units instead of carrying out further testing of the Lower C17/Upper C18 carbonates that had experienced unexpected gas production following a technical review.

In addition, the operator plans to install a gas separator on the electrical submersible pump for further evaluation of the oil production potential from Lower C17/Upper C18 after testing of C13 and C14 is completed.

These had produced oil at an initial rate of 50 barrels per day with limited ESP performance due to gas production.

Ralph E Davis and Associates (RED) have estimated that Atzam-4 holds Probable Reserves of 2.3 million barrels of oil based on the results of the logging and the analytical work completed by Schlumberger.

Range has a 19.9% strategic interest in Citation, which holds 70% in Latin American Resources (LAR), as well as a direct 10% interest in LAR.

LAR in turns holds between 80% and 100% in the two oil and gas development and exploration blocks in Guatemala.

Analysis

Range Resources continues to make progress in its goal of increasing oil production from its Trinidad operations and looks set to pen in a marked production increase in the short term.

With the proposed merger with International Petroleum, this will place the combined company in an even stronger position with strong production, reserves and exploration upside.

another red day so far

We do not need many more.

Range Resources predicts production growth
Wed 22 May 2013


Range Resources predicts production growth LONDON (SHARECAST) - Range Resources said it is well positioned to grow production as it plans to merge with International Petroleum to build an AIM- and ASX-listed oil and gas company.

The acquisition of International Petroleum is expected to bolster Range’s current production by 300% to 76m barrels of oil equivalent (mmboe) of 2P reserves (proven and probable) and by 750% to 233m barrels of 3P reserves (proven, probable and possible).

International Petroleum’s oil and gas projects in Kazakhstan and Russia will combine with Range’s Georgian exploration properties.

Chief Executive Officer of International Petroleum, Chris Hopkinson, said he expects the merger to be completed in September.

He will take the helm of the newly merged company, which will focus exploration
in Trinidad, Russia and Africa.

In Trinidad, the QUN 141 well is being completed with logs indicating 160 feet of gross oil pay. Drilling is also currently underway on the QUN 142 well which is expected to encounter the same well-developed oil pay.

Hopkinson said the company was able to keep a tight rein on costs as it owns its own operating and drilling subsidiary in Trinidad.

In Russia, the firm is waiting for the “big freeze” to access towns that are surrounded by swamps in the summer.

The group plans to put an additional 10 wells into production, which are projected to increase output by 4,000 barrels of oil per day (bopd). Another 20 well targets have also been mapped.

Cashflows from Trinidad and Russia will then be used to fund exploration opportunities in Africa.

“We have an advantage over other mining companies in Africa because we have the cash flow and resources to back exploration. It gives us a huge leverage,” Hopkinson told Digital Look and Sharecast.

International Petroleum recently acquired exploration assets in Niger, Africa which covers 7,000 square kilometres of highly prospective and underexplored land in the Western Central African Rift System.

Range has received commitments for an AU$20m placement from major funds and institutions which will provide a secured loan for the assets which will complement the company’s current portfolio.

Hopkinson added the merged company expects to make £150m a year profit by 2016.

He also said it would consider exiting the ASX to become solely AIM-listed once its market capitalisation reaches around £250m. Range currently has a market cap of £82.76m on AIM.

Shares in Range fell 2.5% to 2.93p at 15:18 Wednesday.

Market still not convinced at this time.

Lol

Put on the company site today -

historic bid round Story Created: May 17, 2013 at 9:09 PM ECT The Ministry of Energy has launched its 2013 Trinidad and Tobago Onshore Bid Round for oil and gas exploration. It was formally launched on May 16. The opening of the bid round was marked by the publishing in the Gazette of the Petroleum Regulations (Onshore Competitive Bidding) Order, 2013. This marks the official start of the bidding for three exploration and production licences, the ministry said in a statement yesterday. Approximately 150,000 acres of State lands in Trinidad’s Southern Basin are being offered. These consist of the Rio Claro Block (74,954 acres), the Ortoire Block (44,731 acres) and the St Mary’s Block (37,760 acres). “The bid acreage offers a range of opportunities related to block sizes, production potential and hydrocarbon play types. There is a wealth of well and seismic data that should reduce the risk and time of exploration, and the blocks are located in a proven commercial hydrocarbon province, within close proximity to existing infrastructure and producing fields. Trinidad and Tobago has been commercially producing oil from its land acreage since 1908,” the ministry stated. The successful bidder(s) will be issued exploration and production licences and will also enter into a joint operating agreement (JOA) with State-owned oil company Petroleum Company of Trinidad and Tobago (Petro- trin). Petrotrin will also have a 20 per cent carry in all three blocks on offer, it added. Trinidad and Tobago has its own oil refinery, which is owned and operated by Petrotrin. Its current throughput is in the region of 165,000 barrels per day. The 2013 Onshore Bid Round will close on August 30. Minister of Energy Kevin Ramnarine said yesterday: “The 2013 onshore-based bid round is historic in that it is the first dedicated land-based bid round launched by the Ministry of Energy and Energy Affairs since the late 1990s. That bid round led to the Carapal Ridge discovery, which is now the Central Block, operated by BG. “It is expected that there will be a high degree of interest in this latest onshore bid round from both companies already operating in Trinidad and Tobago, and new entrants.” Details on the bid round and the bidding process can be found at the ministry’s website at www.energy.gov.tt or e-mail: tobr2013@energy.gov.tt.

If only Range could sell updates and words we'd all be rich..... :))

Page 8-9 RRL

http://www.miningmaven.com/pdf/TheRig2013.pdf

Guatemala Update

Range Resources Limited ("Range" or "the Company") would like to draw attention
to the announcement released by Citation Resources Limited (ASX: CTR) on the
current flow testing program on the Atzam #4 well in Guatemala (in which Range
has an indirect attributable interest of 24%).

Citation Resources has announced that following a technical review program on
the Atzam#4 well undertaken with Schlumberger, flow testing of the C13 and C14
carbonate sections of the well has commenced with the perforation of these
zones currently underway with flow testing of the target zones expected to
commence shortly. The C13 and C14 carbonate sections in the well are considered
the most prospective oil bearing reservoir units in the well based on the
electric log data, and independently confirmed following review of all the well
data by industry experts including Schlumberger.

Further details are contained in the Citation Resources announcement, which can
be accessed at:
http://www.citation.net.au/media/articles/ASX-Announcements/20130530-Atzam-4---Project-Update--207/1225714.pdf


Yours faithfully


Peter Landau
Executive Director

Range Resources: Testing starts on Atzam 4 well in Guatemala
By Proactive Investors May 30 2013, 9:08am Range Resources: Testing starts on Atzam 4 well in Guatemala

Range Resources (LON:RRL, ASX:RRS) highlighted that testing has started on the Atzam 4 well in Guatemala.

The AIM quoted firm has a 24% indirect interest in the well, via its shareholding in Resources (ASX: CTR).

Citation’s 70% owned associate Latin American Resources has started flow testing the two most prospective oil bearing reservoir units in Atzam-4.

The C13 and C14 carbonate sections in the well were considered the most prospective oil bearing reservoir units in the well based on the electric log data, and independently confirmed following review of all the well data by industry experts, including Schlumberger.

Both zones are the main producing zones at the Rubelsanto Field just 17 kilometres to the northeast that has flowed over 30mln barrels of oil to date from eight wells.

Following completion of testing, the plan is to install a gas separator on the electrical submersible pump for further evaluation of the oil production potential from Lower C17/Upper C18.

These sections had produced oil at an initial rate of 50 barrels per day with limited ESP performance due to gas production.

Ralph E Davis and Associates (RED) have estimated that Atzam-4 holds Probable Reserves of 2.3 million barrels of oil based on the results of the logging and the analytical work completed by Schlumberger.

Significant Initial Oil Production Establishes Commercial Atzam #4 Well in Guatemala

Range Resources Limited ("Range" or "the Company") is pleased to announce the
following update with respect to its stake in Guatemalan project (in which
Range has an indirect attributable interest of 24%), released by Citation
Resources Limited (ASX:CTR) today:

- Initial 7 foot section (2846-2853ft.) perforated in the Upper C17 carbonates
has produced significant oil and gas to surface immediately post perforation;

- Flow rate of 610 bopd established over 24 hour period - average of hourly
flow rates using varying choke sizes with a recorded peak of + 1,000 bopd;

- No acid wash or reservoir stimulation used flow rate generated by natural
reservoir pressure;

- Oil cut of 99% from producing zone, with strong gas flare;

- Good quality 29° API oil, with calculated natural reservoir pressure of 1300
psi;

- Pressure gauges will now be used to confirm the reservoir pressure reading
from the producing C17 zone to establish updated resource estimates for the
Atzam Project and Atzam #4 well;

- Current Probable Reserve estimate of 2.3m barrels of oil in Atzam #4 well
alone, to be revised on results;

- Production is being stored in onsite tanks - commercial sales of production
to commence; and

- Net backs in Guatemala approximately 50% of the WTI market price -
favourable economics; and

- Highly prospective 13ft. zone in Upper C17 and the C13 and C14 carbonate
sections that are the producing units in the Rubelsanto Field - remain
untested due to the high pressure oil and gas production from perforated zone
- will be perforated in future well production operations.

Very little interest on the ASX,+1%?

Nevertheless, up 12% here, with very heavy volume.

only another 12p needed until i break even. Though any rise gratefully received.
GL to all who still hold

Alex

We need it robertalexander. :-))

UPDATE: Range Resources expects to revise Atzam estimates after strong flows
By Proactive Investors June 03 2013, 1:03pm Flow rates over the 24 hour test period averaged 610 bopd with a recorded peak of over 1,000 bopd.Flow rates over the 24 hour test period averaged 610 bopd with a recorded peak of over 1,000 bopd.

--Adds share price details and broker comment--

Range Resources (LON:RRL) shares gained over 10% on Monday following positive testing results from the Atzam 4 well in Guatemala.


The results revealed oil flows of 610 barrels of oil per day (bopd), peaking at over 1,000 bopd.

It is believed that a revised estimate of oil reserves is now likely.

The current estimate for probable reserves at Atzam #4 is 2.3mln barrels of oil, but this will be revised after the latest results, Range said.

Atzam flowed good quality 29° API oil, with calculated natural reservoir pressure of 1300 pounds per square inch (psi). The producing C17 zone will now be pressure tested to establish updated resource estimates for the Atzam Project and Atzam #4 well.

Range has a 24% indirect stake in Atzam through its holding in Citation Resources. Range said it will lend up to a further A$1mln to Citation to help fund the ongoing Atzam operations.

After perforating a seven foot section in the reservoir in the Upper C17 carbonates from 2846-2853 feet, the Atzam #4 well immediately started to produce fluids and gas to surface without assistance, Range said.

Following an initial well clean up with recovery of fluids, the well produced at an average rate of 610 bopd over a 24 hour period using various choke sizes.

"With the volume of oil being produced at these reservoir pressures, the operator is unable to be immediately testing a highly prospective 13 foot section in the Upper C17 above this producing unit or the C13 and C14 carbonate sections that are the producing units in the Rubelsanto Field."

UK broker Old Park Lane Capital drew comparisons between the Guatemala project and the group’s past success in the United States.

“Range’s well timed investment in an exciting development project looks to have paid off again. Although Guatemala represents a modest part of the group’s portfolio, the early flow rates established from only one zone in the Atzam #4 well justify Range’s investment,” said analyst Barney Grey.

OPL Capital rates Range as a ‘buy’ with a 13p per share target.

On AIM, Range shares were up 13.48% trading at 3.2p each.

Old park lane - Target price: 13p/A$0.20

http://www.directorstalk.com/wp-content/uploads/2013/06/RRL-03-06-13.pdf

Range Resources

Bold move

http://www.edisoninvestmentresearch.com/researchreports/rangeresources060613update.pdf

Bring it on that is all I can say - hope your Brother is getting on okay dc.

Case was handled very poorly by the CPS. Driver walked away scot free. Solicitors and police working overtime at the moment. ie an appeal and private prosecution. Again cannot say to much. Thanks for asking 3m. Will update you in time.
Ps Being as the police thought dead at the side of the road more heavily knocked out goes against you in court as the judge states you cannot remember much. So if you are going to mow down a cyclist do it well and you walk away free.

That report above is one of the best and lets you know the stage the company is at or more not at. :-))

Trinidad Update

UPDATE: Range Resources on target for 1,200 barrels a day from Trinidad
By Ian Lyall June 10 2013, 11:02am Racking up production: Range's output is cruising towards 1,200 barrels a day.Racking up production: Range's output is cruising towards 1,200 barrels a day.

--Adds broker comment--

AIM favourite Range Resources (LON:RRL) expects daily production from Trinidad to exceed 1,200 barrels following the latest round of drilling and thanks to enhanced maintenance.

The company said well QUN, drilled to 1,255 feet, is currently producing at 75 barrels of oil a day (bopd) and QUN 135 flowed at 150 bopd.

QUN 141 has been successfully completed and is expected to come on production at 75-100 bopd.

Currently being drilled are QUN 143 and 144 wells that are expected to produce 50-75 bopd and the MD 248 well, drilled to 5,780 feet, has encountered “multiple high pressure oil and gas pays”.

At the same time three production rigs have completed what’s termed remedial work on 14 wells, which has added an estimated 95 bopd to output.

A further production of 60 bopd is expected to be added this week through the planned work over of another 15 wells, followed by an estimated additional 90 bopd through the QUN 16 well re-entry and optimization of the QUN 120 and 128 wells.

Repeating a ‘buy’ recommendation City broker Old Park Lane Capital highlighted that Range is accelerating its drilling programme in Trinidad with additional wells expected to begin production soon.

“With Range also focusing its efforts on the deeper, more productive horizons in the Cruse sands, the company has targeted field production of 1,200 bopd within the next few months as an improved maintenance programme is instigated and the recent decline in production is reversed,” analyst Barney Gray said in a note.

OPL’s ‘buy’ recommendation has a 13p price target, which points to significant upside to the current price.

On AIM this morning Range shares were up 3.7% at 3.07p.

Oilbarrel June 10, 2013

Analysts Advise Investors To Concentrate on Latin America, Particularly Trinidad When Looking For Value In Range Resources

http://oilbarrel.com/news/analysts-advise-investors-to-concentrate-on-latin-america-particularly-trinidad-when-looking-for-value-in-range-resources

We wish or some of us wish we were Counting Brass.

12 Jun Beaufort... N/A Speculative Buy

StockMarketWire.com
The planned merger between Range Resources and International Petroleum will likely be conducted as an off-market takeover, Range Resources said in a statement.

"Subject to satisfactory finalisation, it is expected that the formal offer will be made (by Range Resources) in the coming 3-4 weeks. The terms and conditions will be in line with previously disclosed," it said.

Range Resources has advanced $8 million of the $15 million secured financing to International Petroleum as part of the merger process, with the remaining balance being forwarded within the coming two weeks.

Range also noted that Citation Resources had provided an update on the Guatemalan project today with the following highlights:

- Initial 7 foot section (2846-2853ft) perforated in the Upper C17 carbonates has continued to produce significant oil and gas to surface through ongoing reservoir pressure testing program

- Improved oil quality recovered in production testing in past week- samples assayed 36-37° API oil

- Strong well head pressures maintained over past week of between 300-400 psi during testing phase, with calculated natural reservoir pressure of approximately 1300 psi

- Oil production continued between 250-600 bopd on restricted choke sizes over the past 10 days when flowing well between shut ins for pressure testing program

- Potential to flow the well at higher rates with a larger choke size with optimal production flow rate to be determined on completion of the current testing and evaluation program .

UPDATE: Range Resources making progress with merger
By Philip Whiterow June 17 2013, 12:11pm Range said its proposed strategic merger with International Petroleum had made good progress.Range said its proposed strategic merger with International Petroleum had made good progress.

--Adds broker comment--

Range Resources’(LON:RRL) associate has continued to see "significant amounts" of oil and gas produced from its testing programme at Atzam #4 in Guatemala.

Citation Resources, which is 19.9% owned by Range, said oil production between shut-ins continued between 250-600 barrels of oil per day (bopd) on restricted choke sizes over the past 10 days . There was potential to flow the well at higher rates with a larger choke size, added Citation.

Oil quality also improved, with no reservoir water produced to date, the report said. Negotiations are advanced with a number of parties for Atzam #4 oil production, which, according to Citation’s estimates, has current probable reserves of 2.3mln barrels in that well alone.

This number will be revised on completion of production and pressure testing programmes in the coming weeks, it added.
Citation added that the C13 and C14 carbonates remain untested above the C17 section and these are the main producing zones in the nearby Rubelsanto Field, some 17 kilometres from Atzam.

Elsewhere, Range said its proposed strategic merger with International Petroleum had made good progress towards the completion of due diligence and confirmation of the structure of the transaction.

The offer is likely to be conducted as an off-market takeover offer by Range to International Petroleum shareholders; an off-market takeover offer entails the bidder making its offer directly to shareholders in the target company, rather than standing in the market buying shares.

Subject to satisfactory finalisation, it is expected that the formal offer will be made in the coming three to four weeks, the statement said.

Following Monday’s update, boutique City broker Old Park Lane Capital repeated a ‘buy’ recommendation with a 13p per share target price.

“Guatemala represents a modest part of Range’s portfolio, particularly with the proposed merger with IOP in mind,” analyst Barney Gray said in a note.

“However, the news from Atzam #4 continues to impress and the likelihood of additional untested yet productive zones on the field indicate that there is substantial upside from Range’s investment in Guatemala.”

From IC today -
Could Trinidad be the new North Sea?


Sector Focus
Could Trinidad be the new North Sea?
"Trinidad is like the UK North Sea 25 year ago," Joel 'Monty' Pemberton tells Investors Chronicle. "It's an extraordinary hydrocarbon province - and a real cash cow for the half dozen major oil companies that dominate production there - but it needs independents to come in and work with the existing players to monetise assets that don't meet their development criteria in terms of size."

Of course, the Trinidadian chief executive of Trinity Exploration & Production (TRIN) has a vested interest here. His company is one of a handful of companies listed on London's Aim busily snapping up licences and drilling oil wells in the area.

Just seven miles off the northeast coast of oil-rich Venezuela, the islands of Trinidad and Tobago have a long and prolific history of oil and gas production dating back nearly a century. But the winds of change are blowing across its sandy shores and, after decades of production, gas reserves are rapidly diminishing and oil production has declined to a level where the state refiner is operating at barely half its capacity.

With the oil and gas industry accounting for 44 per cent of the country's GDP and 83 per cent of its exports, the government is justifiably eager to increase exploration and develop new projects.

Drill, baby, drill

For now, deep-pocketed multinational oil companies are leading the charge. Six offshore drill rigs are currently operating in Trinidad, a stark contrast to mid-2010 when there was just one. Five of the rigs are contracted by the majors such as BP

(BP), BG Group

(BG.), Centrica

(CNA), Repsol

(Madrid: REP) and US heavyweight EOG Resources

(NYSE: EOG), as well as Trinidad's state-owned operator Petrotrin. But one of the rigs in the shallow-water Galeota block off Trinidad's southeast coast is drilling for Mr Pemberton's Trinity Exploration.

And Galeota could be the start of a new type of oil and gas industry in Trinidad. While the 65:35 joint venture between Trinity and Petrotrin is unsuitable for the majors, the licence offers small-scale production growth with follow-on exploration potential that is ideal for small- and mid-sized exploration and production (E&P) companies. Trinity is conducting an aggressive work program there to revitalise existing production and has ambitious plans to drill five wells close by the field in 2013 and 2014, targeting new resources that would be straightforward and cost-effective to develop.

"Longer term, we also want to help the majors monetise their smaller assets here", says Mr Pemberton. "There are dozens of discovered fields which would likely be profitable to develop, and the industry is ready for the requisite changes to ensure that production is optimised for the benefit of the citizens of the country."

X marks the spot

Most of Trinidad's undeveloped oil and gas fields lie in the prolific Columbus Basin, off the island's southeast coast, past Galeota. The area benefits from excellent infrastructure, but almost all of the licences there are controlled by the majors. It's largely the same story at the North Coast Marine Area (NCMA), 40 kilometres to the north of Trinidad, made up of six large gas fields controlled by a consortium involving BG, Petrotin, Petro-Canada and Italy's Eni (Milan: ENI).

Two other areas have started to open up to small players, however. They are the Gulf of Paria, a shallow-water area immediately off the west coast, and onshore Trinidad. And it's onshore where most of the new action is. Besides Trinity, two Aim juniors, Leni Gas & Oil

(LGO) and Range Resources

(RRL), have operations there and both are rapidly ramping up production.

Range is the bigger of the two in terms of production and market capitalisation. The company is almost two years into an ambitious exploration and development program that it says could lift production from around 800 barrels of oil per day (bopd) currently to 8,000 bopd by 2015. That sounds impressive, but we're not getting overexcited. When Range bought the assets two years ago, production was around 700 bopd. Nevertheless, the company plans to drill up to 40 new wells per year on its licences with its in-house fleet of 10 used drill rigs. Part of the problem up to now has been finding enough spare parts for the old rigs. A sharp drop off in flow rates has also been an issue.

Still, Leni is having better luck growing production. Output from its main Goudron field was just 30 bopd in October, but that has since increased to over 300 bopd. Rather than drilling new wells, it is increasing production by conducting well workovers and re-completions on roughly 90 underperforming wells drilled by a previous operator. In a very positive show of faith in its licences, Leni secured $50m (£32m) in debt funding last month to ramp up the program.

Caribbean life is taxing

It's not all sunshine and pump jacks in Trinidad, however. The fiscal regime is onerous to say the least and is a major deterrent for new companies setting up shop there. The headline corporate tax rate for energy companies is a steep 55 per cent and state royalties generally stack up to about 12.5 per cent of revenues. There's also a sliding scale supplementary petroleum tax of up to 33 per cent of revenues for offshore projects and 18 per cent for onshore, albeit with an allowance for state royalties.

Recently, however, the government has indicated it could be flexible with those rates in order to encourage more activity. Remember, activity levels in the North Sea took off when George Osborne introduced tax breaks last year. Each of the operators that Investors Chronicle spoke with said they were in talks with the government and Petrotrin regarding something similar, especially for mature offshore fields and smaller project developments. The Ministry of Energy has promised to review the competitiveness of Trinidad's fiscal regime and has established a committee to report ahead of the October 2013 budget. And the government, which follows the Westminster model and upholds the traditions of parliamentary democracy inherited from Britain, is usually true to its word.

IC VIEW:

Trinidad may not turn out to be the next North Sea given its relative maturity, but there are serious opportunities for growth there, especially for smaller explorers. And the region is nowhere near as risky as other emerging hotspots such as Kurdistan, Morocco, French Guiana, and some parts of Central Asia and East Africa, yet is just as prolific in terms of hydrocarbon accumulations. Overhauling the current punishing fiscal regime would be a huge boon, too, and positive changes could start to filter through shortly.





FAVOURITES:

Trinity is the leading junior independent operating primarily in Trinidad and we see it as offering the best exposure to production growth potential and high-impact exploration. It currently produces just under 4,000 bopd from a diversified mix of assets in the Gulf of Paria, the Galeota block and onshore Trinidad, and expects this to rise to 5,000 bopd by the end of the year. Moreover, there should be plenty of catalysts for share price appreciation over the coming months, as the company plans to drill two exciting offshore wells beginning in October. Leni Gas is a palatable second choice. A recently announced joint venture with a local company to target the deep exploration potential of their shared licences looks promising, but is subject to a further farm-out to a company that will actually pay for the drilling.






OUTSIDERS:

At first glance, Range seemingly offers the most potential given its ambitious production targets and heavy drilling schedule. But recent operational and geologic problems have put these in doubt. Furthermore, we think the company is simply spread too thin. Besides its Trinidad operations, Range also has projects in Georgia, Colombia, Texas, Somalia, Guatemala, and in Russia where it has just agreed a major, dilutive acquisition that will chew up a lot of time and money





BROKER VIEW:

The oil and gas industry in Trinidad became more vibrant following Trinidad's independence from Britain in the 1960s. Historically, exploration offshore Trinidad yielded a series of sizable (mainly gas) discoveries underpinning the development of LNG exports, by companies such as BP, BG, Repsol and Gdf. Around 60 per cent of Trinidad's total 4bn cubic feet of gas per day (bcfpd) of gas production is exported as LNG, with the remainder used in domestic petrochemical production and power generation. Given the scale and long-term nature of these projects, the government was able to demand a significant fiscal take. These fiscal terms were applied country-wide, limiting incentives to develop small- or medium-sized opportunities.

Oil production has also been decreasing rapidly in recent times, as the incumbent majors have focused on the offshore gas resources. In 2012, production averaged 782,000 barrels of oil-equivalent per day (boepd), of which only 82,000 barrels per day was oil.

As a result of this decline, the Trinidadian government is eager to increase oil production and support the state refiner Petrotrin's 175,000-bopd refinery. The profitability of the facility has been impacted by the steady declines in domestic oil production (60 to 70 per cent of current oil production goes to the refinery) and increased oil imports.

The gas picture is also changing as reserves are diminishing. With approximately nine years of reserve life remaining, further attempts are being made to generate activity with two licensing rounds planned later this year. Longer term, the ministry commits to review agreements every three years which has seen small improvements in fiscal terms and conduct one to two licensing rounds per year.

Nathan Piper is an energy analyst at RBC Capital Markets


visible-status-Standard story-url-Trinidad_Oil_Sector_Focus_250613.xml



By Matthew Allan,
26 June 2013

Range increases its FOOTPRINT in Trinidad by over 280,000 acres

Highlights:
- Range increases its Trinidad gross acreage footprint by circa 17x (gross increase by +280,000 acres) through a proposed farm-in with Niko Resources Ltd. on the Guayaguayare block in Trinidad;

- Farm-in will provide Range with vast exposure to both onshore and offshore potential and creates excellent synergy between Range's three existing blocks and the Guayaguayare block;

- Range to gain exposure to both shallow and deep horizons within the Guayaguayare block, including the highly prospective Upper Cretaceous formation - believed to be the source formation for Trinidad's current and historical hydrocarbon discoveries;

- There are four prospective onshore fields within the Guayaguayare block, each considered to have significant potential for oil, whilst the offshore structural complex is believed to have significant potential for large gas discoveries with several large structures mapped;

- Range to utilise its own drilling rigs and personnel for the farm-in, and in advanced discussions with a leading International Drilling and Oil-field Services Provider to complement existing infrastructure and accelerate development; and

- Range is in the final stages of completing and drawing down on its reserve based debt financing of staged amounts of up to US$100m (increased from previously announced US$35m) - having drawn down on initial £3m as a convertible financing arrangement in the interim.

http://www.moneyam.com/action/news/showArticle?id=4626464

Do not seem to be able to cope with what they have already, let alone take on more. lol

Just over 0.5% up.

Guatemala Update

PRNW



9 July 2013



The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000


GUATEMALA UPDATE

Range Resources Limited ("Range" or "the Company") would like to draw
attention to the announcement released by Citation Resources Limited (ASX:CTR)
on the Atzam #4 Well in Guatemala with the following highlights:

- Production underway from the perforated section in the Upper C17 carbonates
(2,846-2,853ft);

- Strong initial production performance - flow rate restricted to 100 bopd on
a small 8/64ths choke, well head pressure of 400 psi, production of 100% oil
cut at 36 - 38° API and no water;

- Operator estimates a flow rate of 1,000 bopd on an open choke based on flow
rates achieved from various choke sizes up to 32/64ths - optimal flow rate to
be established in coming weeks;

- Current flow rate restricted due to limited onsite production storage tank
capacity of 7,000 barrels - currently 3,000 bbls from Atzam #4 produced in
tanks and ready for immediate sale;

- Upgrading of oil storage facilities underway, with negotiations advancing
with offtake parties for current and future production;

- Reservoir pressure testing operations completed - independent reviews
underway to produce updated well reserve report;

- Current Probable Reserve estimate of 2.3m barrels of oil in Atzam #4 well
expected to be upgraded;

- Significant Upside Potential Remains Untested in Atzam #4 - 13ft zone in
Upper C17 with better logs than current producing zone will be perforated and
tested in future production operations;

- Highly Prospective C13 and C14 carbonate zones remain untested above the C17
section, and are the main producing zones in the nearby Rubelsanto Field -
produced over 30 mmbbl to date from 8 wells, 17km from Atzam Field; and

- Operator advanced with Atzam #5 development well design and location - to be
drilled in 2013.

Further details are contained in the Citation Resources announcement, which
can be accessed at:

http://www.citation.net.au/media/articles/ASX-Announcements/20130708-Atzam-4---Project-Update--213/Atzam-4-Project-Update.pdf


Yours faithfully


Peter Landau
Executive Director

Yesterday, Range Resources shared updates from its associate Citation Resources regarding the Atzam #4 well situated in Guatemala. The oil production operations have been started from the perforated section in the Upper C17 carbonates between 2,846 to 2,853 feet with the estimated flow rate of 1,000 barrels of oil per day (bopd) on an open choke, while the optimal flow rates would be determined in some weeks. The current flow rate has been restricted to 100 bopd on a restricted choke and no water. The flow rate was restricted due to limited capacity – 7,000 barrels (bbls) of the onsite production storage tank. Currently, there are 3,000 bbls from the well produced in tanks and ready for immediate sale. The upgradation of the storage facility is also in process of negotiations with the parties for current as well as future production. The reservoir pressure testing is completed. Current reserve estimate of 2.3 million barrels (mmbls) for the Atzam #4 well is likely to be upgraded. However, the upside potential of a 13 feet zone in the Upper C17 in the well remains untested. The carbonate zones C13 and C14 above the C17 section, in the nearby Rubelsanto Field which has produced more than 30 mmbbls from 8 wells to date, remained untested. The operator, Citation Resources, also progressed with the design and location of the Atzam #5 well, which is to be drilled in 2013.

Our view: Achieving an initial production of 100 bopd production despite a highly restricted choke and no water by associate Citation Resources is good news for the shareholders of Range Resources. The Guatemala project had yielded positive results in the testing period in terms of production levels and the oil quality. Citation Resources is set to improve the capacity of its storage tank to accelerate the production levels at Atzam #4 well. The reserve estimate for the well is also likely to be increased, going forward. In addition, the potential of the 13 feet zone in the Upper C17 and the carbonate zones C13 and C14 is yet to be tapped. Separately, the progress of merger with International Petroleum having assets in Russia, Kazakhstan, and Niger with 3P Reserves of 233 mmbbls of oil and best estimate prospective resources of 761 mmbbls of oil and 157 billion cubic feet (Bcf) of gas would help the combined entity to generate even higher production numbers. Given the above, we maintain a Speculative Buy for the stock.





http://www.proactiveinvestors.co.uk/columns/beaufort-securities/13501/beaufort-securities-breakfast-today-including-range-resources-ferrexpo-and-marks-spencer-13501.html

MERGER UPDATE
Range Resources Limited ("Range" or "the Company") notes the announcement released today by International Petroleum Limited ("International Petroleum") and confirms that it has to date advanced US$8 million to International Petroleum pursuant to a US$15 million loan facility as described in the Company's announcement dated 24 April 2013.

The Company confirms that discussions are continuing with International Petroleum in respect of the proposed merger between the two companies and notes that International Petroleum is considering other plans to raise funds in order to satisfy its liabilities. Range will consider its position and any implications for the proposed merger should International Petroleum secure funds from alternative sources, and will continue to update the market with respect to the status of discussions and due diligence as appropriate.

Guatemala Update

uatemala Update - Improved Oil Production Rate of Atzam #4 well

Range Resources Limited ("Range" or "the Company") would like to
draw attention to the announcement released by Citation Resources Limited
(ASX:CTR) on the Atzam #4 Well in Guatemala with the following highlights:

- Atzam #4 well producing at an improved flow rate of 140 bopd on
the same restricted 8/64ths choke from the Upper C17 carbonate section
(2,846-2,853ft)

- Production currently on a restricted 8/64ths choke due to limited
onsite storage tank capacity, until off take contracts in place

- Current flow rate of approximately 140 bopd with a well head
flowing pressure of 360 psi, 38° API oil and no water production

- Operator estimated a flow rate in-excess of 1,000 bopd on an open
choke based on flow rates achieved from various choke sizes up to 32/64ths
since initial production

- Limited onsite storage tank capacity of 7,000 barrels, with over
4,000 barrels produced from Atzam #4 ready for immediate sale

- Negotiations advancing with potential off take parties for
current and future Atzam oil production

- Atzam #4 independent reserve report due shortly- expected upgrade of
initial report with Probable Reserve estimate of 2.3m barrels of oil
based on logging data

- Significant upside potential remains in Atzam #4 untested sections- 13ft
zone in Upper C17 with better logs than current producing zone, and the
C13 and C14 carbonate sections- all yet to be perforated and tested,
to be done in future well operations

- Plans advanced for spudding Atzam #5 in September quarter 2013

Fox Davies Capital

http://www.directorstalk.com/range-resources-fox-davies-capital-3/

Beaufort Securities Breakfast Today including Range Resources and Sula Iron & Gold
By Beaufort Securities
July 23 2013, 8:35am

Range Resources (LON:RRL)

Range Resources announced further updates on the Atzam #4 Well of Gautemalan project, yesterday. The flow rate of the restricted 8/64ths choke from the Upper C17 carbonate section of the well improved to 140 barrels of oil per day (bopd) with a well head flowing pressure of 360 psi, 38° API oil and no water production. The flow rate for an open choke is estimated to be more than 1,000 bopd, however, it remains restricted to 8/64ths choke due to limited capacity of the onsite storage tank. The current capacity of the tank stands at 7,000 barrels, with over 4,000 barrels produced from the Atzam #4 well being ready for immediate sale. Negotiations of the off-take agreements for the current and future oil production from the Atzam well have made progress. Independent reserve report of Atzam #4 is due shortly. The logging data had given a probable estimate of 2.3 million barrels of oil (mmbbls). The spudding plans for Atzam #5 well in September have been consolidated further while the potential of a 13 feet (ft) zone in Upper C17 and the C13 and C14 carbonate sections in Atzam #4 are yet to be perforated and tested. Range Resources holds an indirect stake in the Atzam project through Citation Resources.

Our view: Oil production from Atzam #4 has been upgraded to 140 bopd from initial level of 100 bopd, even as the choke remained restricted at 8/64ths. The off-take agreements have marked a good progress and once the agreements are in place, the company would be in a better position to bring the well to full production levels. The independent reserve report for the Atzam #4 is expected to surpass the earlier estimate of 2.3 mmbbls. During initial testing, the Upper C17 section had produced oil at the average rate of 610 bopd over 24 hours with a submersible pump, substantiating the fact that the untested and un-perforated 13 ft zone in the Upper C17 of the Atzam #4 offers a good upside potential going forward. Citation Resources has also planned to start the spudding of Atzam-5 well in September to target the C13 and C14 sections. These carbonate sections are the major producing zones of the Rubelsanto Field, nearby Atzam. Given these positives and the significant stake of Range Resources in Citation Resources (indirect attributable interest of 23.93%), we are optimistic that the company is likely to derive benefits of higher production by its associate company in the near future. We maintain a Speculative Buy for this stock.



http://www.proactiveinvestors.co.uk/columns/beaufort-securities/13622/beaufort-securities-breakfast-today-including-range-resources-and-sula-iron-gold-13622.html

Merger Update - Potential Sale of Russian Assets

PRNW



24 July 2013

The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000

Via E-lodgement

Merger Update - Potential sale of IP's Russian assets for cash

Range Resources Limited ("Range" or the "Company") notes the announcement
released today by International Petroleum Limited ("International Petroleum")
announcing that International Petroleum is in negotiations with a third party
relating to the potential sale of its Russian assets for cash consideration,
which Range understands is expected to be between US$120 - 150 million.

In the course of discussions and due diligence in connection with the proposed
merger of the two companies, Range has been informed of the negotiations
concerning the potential asset sale and remains committed in principle to
pursue a merger transaction pending final confirmation of the sale terms.

The Company will update shareholders in relation to the asset sale and merger
transaction in due course.

Peter Landau, Executive Director, commented:

"The proposed asset sale would provide the merged entity with a solid
financial position and balance sheet that will allow the combined group to
advance and develop its production and highly prospective exploration
projects, including Range's core, large-scale production operations in
Trinidad, where we have recently significantly expanded our footprint through
a farm-in with Niko Resources.

We remain extremely positive about the completion of the merger, and bringing
Chris Hopkinson and his strong technical team (who recently spent over a week
in Trinidad with the Range team) on board to complement Range's existing team
in Trinidad, to deliver the Company's aggressive production growth plans in
Trinidad, as well as developing and extracting the full potential of the other
highly prospective projects within Range's and IOP's portfolios."

Yours faithfully


Peter Landau

Executive Director

Guatemala Update
Range Resources Limited ("Range" or "the Company") would like to draw attention to the announcement released by Citation Resources Limited (ASX:CTR) today with the following highlights:

- Range to hold 20% Project Interest and 19.9% Company Interest (net attributable interest 32%);

- Atzam #4 continues to produce between 130-140 bopd on restricted 8/64ths choke;

- Nearly 5,000 barrels of oil produced by Atzam #4 to date;

- Finalising operational plans for two well re-entries and 6 potential new wells on the Tortugas Salt Dome structure for late 2013/ early 2014. Re-entries expected to produce between 200-300 bopd per well;

- Updated reserve report on Atzam #4 well due shortly - expected upgrade to the current Probable Reserve estimate of 2.3m bbls;

- Spudding Atzam #5 development well expected in September; and

- Following success of flow testing of Atzam #4 in excess of 1,000 bopd, decision to proceed with Atzam #5 triggers milestone share issues.

Operational Update Atzam Oil Project:
http://www.moneyam.com/action/news/showArticle?id=4639959

UPDATE: Range Resources increases interest in Guatemala field
By Philip Whiterow July 29 2013, 1:46pm In testing, Atzam #4 has continued to flow at between 130-140 barrels per day on a restricted 8/64ths choke.In testing, Atzam #4 has continued to flow at between 130-140 barrels per day on a restricted 8/64ths choke.

--Adds broker comment--

Range Resources (LON:RRL) will increase its interest in the Atzam project in Guatemala to 32% following a decision to drill a new development well on the field.

Spudding of well Atzam #5 is expected in September. An updated resource statement from Atzam #4 is due shortly and Range said again on Monday it is expected to show an upgrade to the current Probable Reserve estimate of 2.3m barrels.

In testing, Atzam #4 has continued to flow at between 130-140 barrels per day on a restricted 8/64ths choke, with nearly 5,000 barrels produced so far.

Atzam is owned and operated by Latin American Resources (LAR), which, according to Range, is in advanced negotiations with a number of oil companies on short term and long term off-take contracts.

Range’s stake in Atzam was previously just under 24%, comprising a 19.9% stake in Australian firm Citation Resources, which owns 70% of LAR, and a 10% stake of its own in LAR.

Following the decision to go ahead with well #5, Range has executed a debt conversion agreement that will see the transfer of a further 10% interest in LAR to Range from Citation.

In a note to clients Old Park Lane Capital analyst Barney Gray backed the strategy Range is following in Guatemala.

“The ongoing testing programme on Atzam #4 is expected to lead to a reserves upgrade and the drilling of three additional producers over the next few months is likely to boost production significantly.

“With the momentum in Guatemala set to continue, Range is justified in increasing its commitment to the project.”

Range also added it is also working with LAR on two well re-entries and potentially six new well locations on the Tortugas Salt Dome structure, a suspended oil field previously drilled by Monsanto.

The well re-entries on two Tortugas wells, 63-4 and 63-5, are expected to produce between 200-300 barrels of oil per day ( bopd) each of high quality 34° API oil based on historical flow rates and production.

In the mid-eighties, two wells flowed oil at initial rates over 1,500 bopd before they were suspended.

Range Resources reviewed by Uk broker Fox Davies
Tuesday, July 30, 2013 by Proactive Investors



http://www.proactiveinvestors.com.au/companies/news/46122/range-resources-reviewed-by-uk-broker-fox-davies-46122.html

Quarterly Activities Report and Appendix 5B

http://www.moneyam.com/action/news/showArticle?id=4642788

up 8% on a poor market day.

Only another 9p to go then!!!!!!!

lol. -8% tomorrow

More than likely dc.

Pessimists! :o)

You are confusing realism and pessimism! :-)

I will write it now save doing it tomorrow ''I told you so'' lol

Lol! :o)

6 Aug Beaufort... N/A Speculative Buy

I told you so up another 3% lol. :-))

StockMarketWire.com
Range Resources has finalised all documentation for the $30m sale of its Texan assets.

The purchaser has agreed to pay $25m at closing, being on or before 30 August, plus up to a further $5m in royalty payments from future production.

The purchaser has paid a $1m non-refundable deposit to Range in recognition of the previous delays in completing the transaction.

Executive director Peter Landau said: "The finalisation of the documentation for the sale of the Texan asset is a significant milestone and will significantly strengthen Range's balancesheet and allow the company to redeploy proceeds into our highly prospective international assets, including Colombia and the recently announced farm-in with Niko Resources in Trinidad.

"In addition to the proceeds from the sale, we are also in the final stages of completing the reserve based lending facility for Trinidad, which will leave the company well positioned for significant operational growth."

And down it goes.

StockMarketWire.com
Range Resources Ltd has noted the recent weakness in its share price, but said it is not aware of any particular event that would account for this share price weakness.

The company said it is focused on ramping up production from its large-scale operations in Trinidad, where production has increased by over 30% since April, with significant further increases expected as more wells come online and all 6 rigs get utilised simultaneously, following maintenance upgrades.

In addition, well economics have improved with the implementation of the previously announced reductions in overriding royalty rates on the Morne Diablo and South Quarry fields.

Range Resources was also on track to receive the proceeds of $25 million from the sale of its Texas asset by the end of this month, as recently announced.

Range Resources on track for sale of Texas assets

Fri, 16 August 2013


''Surged'' lol . A 3% rise.

Range Resources’ shares surged after saying it remains on track to receive proceeds of 25m dollars from the sale of its Texas assets by the end of August.

The oil and gas producer said it noted the recent weakness of its share price but was not aware of any particular even that would have caused the slump.

“The company remains fully committed to delivering shareholder value from its portfolio of assets and is focused on ramping up production from its large scale operations in Trinidad, where production has increased by over 30% since April, with significant further increases expected as more wells come online and all six rigs get utilised simultaneously, following maintenance upgrades,” the group said in a statement.

The firm added that well economics have improved with the implementation of reductions in overriding royalty rates on the Morne Diablo and South Quarry fields.

The group is in the final stages of completing its reserve based lending facility for Trinidad with key documentation agreed and final completion and draw down expected shortly.

Range also announced that it remains committed to pursuing an acquisition of International Petroleum. The acquisition is pending confirmation of the terms of International Petroleum's proposed sale of its Russian assets for cash.

Shares rose 3.90% to 2.40p at 10:20 on Friday.

Operational update & appointment of new personnel:

http://www.moneyam.com/action/news/showArticle?id=4655001

Summary comment from the boss:
"Peter Landau, Executive Director, commented:

"We are delighted to announce Ash Mangano as the Vice President of Range's Trinidad operations. Ash has deep knowledge of the oil and gas industry and brings with him a wealth of experience within the industry at both corporate and operational levels and will provide valuable experience as we continue to grow our business. Ash will continue to drive and further develop the strategic agenda that we have set out, to generate competitive returns for our shareholders.

As the Company is in final stages of completing significant reserve based lending transaction, we have decided that now is an appropriate time for the Company to seek additional leadership, to take the Company to the next stage of development, where the focus will be on operating the conventional production operations as well as unconventional waterflood projects in order to unlock the enormous potential of our Trinidad assets."

Range Resources makes senior hire; reports solid progress in Trinidad
By Ian Lyall August 22 2013, 8:18am Turning to operations, the company’s next 10 wells have been earmarked for access by the production and work-over rigs.Turning to operations, the company’s next 10 wells have been earmarked for access by the production and work-over rigs.

Range Resources (LON:RRL) coupled news of a senior appointment to its Trinidad business with an update from the island.

The group has hired Ash Mangano as a vice president to work alongside Walter Cukavac, who is chief operations officer.

Director Peter Landau said: “As the company is in final stages of completing significant reserve-based lending transaction, we have decided that now is an appropriate time for the company to seek additional leadership, to take the company to the next stage of development, where the focus will be on operating the conventional production operations as well as unconventional waterflood projects in order to unlock the enormous potential of our Trinidad assets."

Range said it has also engaged a senior reservoir engineer with more than 15 years' experience in enhanced oil recovery projects and reservoir characterization in Trinidad, and has employed three new mud engineers.

In the same announcement Range said it is “continuing to evaluate” the 2013 onshore bid round data package and is preparing its submissions for certain licences being offered.

Turning to operations, the company’s next 10 wells have been earmarked for access by the production and work-over rigs.

Additionally, the QUN16 well is due for reactivation. This will add new reserves and production, while further extending Range’s Lower Forest

trend to the east of the well and establishing a large area for low risk infill drilling.

The firm said it remains on target to have all its six rigs operational in the third quarter.

At the same time work continues towards Range’s farm-in to the Guayaguayare Block, with final agreements expected to be signed this

month.

The Guayaguayare Block represents the largest addition to Range's Trinidad portfolio to date, increasing the company's acreage position by more than 280,000 acres.

It seems they do not have credibility. Why falling?

Whatever good news they say, share rice falls.

Because its the usual boring updates, what is new since last update, nothing, always tomorrow but it's a broken record, people lost interest and don't believe what he has to say, in a nutshell.

Resignation of directors
International Petroleum Limited (NSX: IOP) (“International Petroleum” or the “Company”) announces that Mr Antonio (Tony) Antoniou and Mr Pierre Godec resigned as non-executive directors yesterday with immediate effect.



http://www.internationalpetroleum.com.au/IRM/Company/ShowPage.aspx/PDFs/1538-10000000/DirectorResignations

following rmp now and taking off!!

StockMarketWire.com
Range Resources said following an extensive review at its Georgia project, the targeted hydrocarbon in-place and reserve calculations for blocks VIa and VIb were completed with the results being highly encouraging.

A best estimate of conventional undiscovered oil in place totalled 403 mmbbls, with a range attributable of 181 mmbbls, or 45%. A best estimate of conventional undiscovered gas in place totalled 18.4 Tcf, with a range attributable of 8.3,or 45%.

Coal bed methane reserve estimates suggested proved, probable and possible reserves of 508 Bcf, with a range attributable of 229 Bcf. Estimated total gas in place totalled3.16 Tcf, with a range attributable of 1.42 Tcf, or 45%.

StockMarketWire.com
Range Resources Ltd noted Citation Resources Limited's statement regarding its interest in Guatemala. Range Resources has a direct and indirect 32% interest in the Guatemalan Project.

Highlights included:
- Independent expert recommends Atzam #4 production rate of 466 bopd

- Atzam #4 well production continuing - good quality oil on restricted choke with no water produced to date and ongoing strong natural reservoir pressure

- Updated Reserve Report - Initial 1P reserves of 362,515 barrels for 6 foot producing section alone

- Significant 1P reserve increase expected upon production of additional 7 foot C17 carbonate yet to be perforated

- Atzam oil field 20mmbbl 2C contingent resource estimate being reviewed with Atzam #4 success

- Significant exploration upside on Atzam block - unexplored salt dome and anticline structures

- Atzam #5 development well on schedule to spud in late September

- Construction of new Atzam tank facilities to commence

- Citation fully funded for the Atzam #5 development well and oil storage facility upgrades.

Range Resources (LON:RRL)

Yesterday, Range Resources made a reference to the announcement by Australia-based Citation Resources regarding its Guatemala project. The production rate from Atzam #4 well was recommended at 466 barrels of oil per day (bpd) by independent experts. The production from the well continues with good quality of restricted choke and continuing strong natural reservoir pressure. The initial 1P reserves are estimated at 362,515 barrels from a six feet section. The 1P reserves are expected to be revised further upon production of additional 7 foot C17 carbonate, which is yet to be perforated. 2C contingent resource estimate of 20 million barrels (mmbbl) is also being reviewed post the successful results from Atzam #4. Certain salt dome and anticline structures still remain unexplored at the Atzam block. The spudding of Atzam #5 well is set to begin in late September, as planned. The construction of new Atzam tank facilities is also expected to start soon. Citation is fully funded for the Atzam #5 development well and oil storage facility upgrades, it said. Range has a 32% direct and indirect interest in the Guatemala project.

Our view: Range Resources delivered further good news with regards to the Guatemala project. The independent experts suggested satisfactory production rate for the Atzam #4 well. The February estimates, based on drilling and logging data, had revealed proven and probable reserves of 2.3 mmbbl for Atzam #4. The completion of tank facilities at Atzam, could pave the way for cash inflows from the block, going forward. Citation was on track to start the spudding of Atzam #5 well by end of this month. In other projects, the merger with International Petroleum is likely to provide a major boost to the existing resource base of Range Resources. The best oil and gas estimates, from blocks VI (a) and VI (b) at Georgia, were revealed to the tune of 181 mmbbl and 8.3 trillion cubic feet (tcf), respectively. This highlights the productive potential of the field. Considering the impressive results from multiple assets, we believe there could be a significant addition to its production and revenue base in the near future. We retain a Speculative Buy for the stock.




http://www.proactiveinvestors.co.uk/columns/beaufort-securities/14031/beaufort-securities-breakfast-today-including-range-resources-british-land-and-and-wishbone-gold-14031.html

Transcript: Range Resources Ltd –Peter Landau, Executive Director. 05/09/2013



Question 1: Range Resources (ASX:RRS) primary focus is on producing onshore oil fields in Trinidad. Executive Director Peter Landau outlines the company’s direction for the coming 6-12 months.

Peter Landau: Trinidad has always been our main focus and we have been waiting for two key events to fully finance what we are doing. The first one is the sale of our Texas assets, which has recently been concluded; and the second is the reserve based lending facility which should be concluded in the next week or two. With that in place, we can then basically fully exploit what we want to do in Trinidad.



We have the three blocks plus the Niko farm-in. On the Morne Diablo, South Quarry and Beach Marcelle block, over the next six-12 months there is probably at least 55 wells both new wells in terms of Lower Forrest, Middle Cruz and Lower Cruz. There will be three Herrera’s in addition to 12 deepening of wells in the Beach Marcelle block. There will be the commencement of the waterflood at Morne Diablo and then physical production from the waterflood. There will be commencement of the injectors in to the Beach Marcelle waterflood, production is probably going to be after a 12 month period.



With that plus two wells with the Niko farm-in, it is a pretty significant rollout that we have got going. We aim to increase production from current levels circa 1,000bpd up to –if you include the Morne Waterflood –around 4,000bpd. That’s our six-12 month target based on our P1 and P2 development and doesn’t include any exploration success we have on the Herrera’s or any of the wells we drill on the Niko farm-in.”



Question 2: The Company has entered in to a farm-in with TSX-listed Niko Resources. Can you please take viewers through the key aspects of the deal, and why this is important for Range Resources (ASX:RRS)?

Peter Landau: Two points initially straightaway are geography and geology. Geographically, obviously the block is next door and fits in well with our existing operations and with the Niko block our onshore acreage position puts us definitely in the top three in Trinidad.



Geologically is why you do these things in the first place. They have done comprehensive 3D seismic both onshore and offshore and we think there are four genuine fields to be tested onshore and each of those fields are looking at anywhere from 20-30 million barrels recoverable per field. Then you have the offshore areas which can be drilled from onshore, and they are both oil and the potential for gas as well.

The significance is: one; land acreage, and two; the 3D seismic has been done and we do have the capability of drilling and getting it done in terms of getting those wells completed. More importantly adding to our P1 and P2 reserves.



Question 3: Trinidad is set to announce another round of licensing applications. Is Range Resources (ASX:RRS) looking to apply and expand its footprint further?

Peter Landau: Everyone on the island is in the data room. There are three blocks up, and we are very interested in one of them. End of October is the time period for submissions so we will definitely be putting a bid in for one, if not two, of them.



Question 4: How are discussions revolving around lending facilities progressing?

Peter Landau: It is far more advanced than discussions; our RBL (Reserve Based Lending) has been a significant process. We have had both independent technical visits and reports done on our assets, both corporately and in Trinidad, so we are past that due diligence aspect and it is now just finalising the documentation for drawdown.



Imminent is the best word to use because it has been a longer process but we are almost there and very comfortable that we will be able to drawdown on the RBL, which in addition with the Texas sale will allow us to have sufficient capital –not just for Trinidad but other operations as well.



Question 5: You are developing a strategic alliance with a leading oilfield services provider –can you provide any comment on the progress of this relationship?

Peter Landau: The comment I would want to provide, especially without naming them, is especially with the Niko farm-in we are going to need an additional rig –if not two. The alliance we are looking at is to utilise one or two rigs, additional parts, crew and maintenance. But more importantly instead of just paying for it under a usual contractor/sub-contractor relationship, we are looking potentially for what you would call vendor finance type terms where they would take some risk and be paid out from oil produced from the wells. So either deferred payment terms with a bit of a kicker, or deferred payment based on revenue out of the wells.



It could be a very interesting relationship. The rigs are available, the parts are available, and shareholders are well aware of some of the troubles we have had with existing equipment and the need to bring in parts and fix up our current equipment. We believe the relationship could be very significant as we get our six rigs up and running at one time and more importantly take two of theirs.



- ENDS -



http://hotcopper.com.au/post_single.asp?fid=1&tid=2085107&msgid=12267867

Range Resources: Trinidad news is 'unambiguously' positive, says OPL
By Giles Gwinnett September 16 2013, 11:41am 'After a long period of production decline in Trinidad, there has been a substantial expansion of E&P activity in Trinidad in recent years and this is expected to continue as the government improves the fiscal terms available to companies investing in upstream oil and gas activities,' says analyst Barney Gray, who rates Range a 'buy'."After a long period of production decline in Trinidad, there has been a substantial expansion of E&P activity in Trinidad in recent years and this is expected to continue as the government improves the fiscal terms available to companies investing in upstream oil and gas activities," says analyst Barney Gray, who rates Range a 'buy'.

Range Resources (LON:RRL, ASX:RRS) is in a "strong position" to benefit from the improving fiscal landscape for oil and gas firms in Trinidad and Tobago over the next three years, reckons broker Old Park Lane.

It comes after a budget statement on September 9, which revealed measures specifically rewarding those firms with accelerated exploration and development programmes.

Under the proposals, companies will be able to recover 100% of their exploration costs during the first year from 2014 to 2017.

From 2018, they will be able to recover 50% of their exploration costs in the first year, 30% in the second and 20% in the third.

For development work, the proposed incentives allow for 50% recovery of cost in the first year, 30% in the second and 20% in the third compared to the current system which mirrors recovery for exploration costs.

"After a long period of production decline in Trinidad, there has been a substantial expansion of E&P activity in Trinidad in recent years and this is expected to continue as the government improves the fiscal terms available to companies investing in upstream oil and gas activities," says analyst Barney Gray, who rates Range a 'buy'.

"Range is still awaiting completion of the sale of its Texas assets for which the company has received a $1mln non-refundable deposit and has extended the deadline for the completion of the deal.

"The company will update the market when the balance of the funds has been received. Meanwhile, the news from Trinidad is unambiguously positive and Range is in a strong position to benefit from the improving fiscal environment over the next three years."

Trinidad and Texas Update

http://www.moneyam.com/action/news/showArticle?id=4668477

Range Resources welcomes new Trinidad tax breaks
By Proactive Investors September 16 2013, 8:51am The reforms provide tax incentives for the oil and gas sectorThe reforms provide tax incentives for the oil and gas sector

Range Resources (LON:RRL, ASX:RRS) is poised to benefit from proposed new fiscal incentives introduced by the Trinidad and Tobago government that reward companies with accelerated development and exploration programmes.

The reforms provide incentives to companies that invest in exploration and production, ensuring the oil and gas upstream sector becomes more competitive with higher activity levels.

“We welcome these further incentives proposed by the Minister, which certainly encourage increased development and exploration activities for the upstream companies operating in Trinidad, and in turn further accelerate the production growth in Trinidad,” executive director Peter Landau said.

“Range will be poised to take full advantage of these incentives, as it looks to accelerate both its development and production activities on the existing reserves, along with its exciting intensive exploration programme both internally and in partnership with Niko Resources.”

The new incentives allow for further accelerated capital deductions than the past.

Under the proposed incentives, companies will be able to recover 100% of their exploration costs during the first year from 2014 to 2017.

From 2018, they will be able to recover 50% of their exploration costs in the first year, 30% in the second and 20% in the third.

This compares with the current initial allowance of 20% for tangible and 10% for intangible assets and annual allowance of 20% of cost less IA for tangible and 20% of residual for intangible assets.

For development work, the proposed incentives allow for 50% recovery of cost in the first year, 30% in the second and 20% in the third compared to the current system which mirrors recovery for exploration costs.

Companies will also be able to recover all of their costs for workovers and qualifying sidetracks during the first year.

In addition to these capital allowance proposals, the investment tax credit (being 20% of capital expenditure) against the Special Petroleum Tax is now able to be carried forward into the subsequent year, where previously it was only able to be claimed in the year expenditure was incurred.

Further to its previous announcements, whilst the purchaser of its Texas assets continues to indicate that it is proceeding to complete settlement of the acquisition, Range is still awaiting receipt of the final consideration for the sale of its Texan assets.

Range has agreed to extend the settlement deadline and will update the market when funds are received.

Done wonders for the sp!

In the 1's soon. Ring up PL and tell him its not the first company to ''0'' .Real shareholder value, I feel privileged holding these.

Ah! We are indeed privileged. Erm, hang on a mo, just looking up privileged in the dictionary. Oh! What? I thought it meant ripped off! :o)

One day these will come good, I just hope I am not asleep on that one day! ;o)

lol

P.L. has taken the privileged P more like it!!!

Target price: 11.0p/A$0.17

http://www.directorstalk.com/wp-content/uploads/2013/09/RRL-16-09-13.pdf

Annual Financial Report

http://www.moneyam.com/action/news/showArticle?id=4676651

sp approaching "rock bottom"?

Great - one lesson learned sell, whenst in profit and not hang on.

Nothing new, continued hot air ! Nothing being concluded, embarrassing !

Guatemala Update
Range Resources Limited ("Range" or "the Company") would like to draw attention to the announcement released today by Citation Resources Limited (ASX:CTR) with respect to the Company's interest in Guatemala with the following highlights:

- Latin American Resources (the operator) recently completed its second oil
sales contract and delivery of over 3,500 barrels to Perenco Guatemala;

- Total sales exceeding of 9,000 barrels completed during August and
September;

- Net revenue received approximately $65/ barrel;

- Atzam #4 well on continuous production throughout September - strong well
head pressure maintained +300 psi on highly restricted choke (12/64 inch), still no water production;

- Atzam #5 well drilling to commence in October- unseasonal heavy rainfall in
September has delayed drilling pad construction and spudding of well;

- 20mmbbl 2C contingent resource estimate under review following Atzam #4
success; and

- Significant exploration upside at Atzam - unexplored salt dome and anticline
structures to be evaluated and tested in 2014.

Range has a direct and indirect 32% interest in the Guatemalan Project.

50% since the start of the year..Down.

Could these go sub 1p..?

So basically junk stock? What a hopeless company. Never delivered. Jam tomorrow and of course, tomorrow never comes!

StockMarketWire.com
Range Resources is considering a range of corporate alternatives to its proposed merger with International Petroleum.

This follows International Petroleum entering into two binding conditional terms sheets for the sale of its assets in Kazakhstan and Russia for US$60m.

Range announced the proposed merger with International Petroleum in April. Range said this was likely to be conducted as an off-market takeover offer by Range to International Petroleum shareholders.

In conjunction with the proposed merger Range has advanced US$8m in secured loan financing to International Petroleum.

Range said that while the sale process for the Russian assets was known to and supported by the Range board, the final terms of the proposed transaction, and the sale of the Kazakhstan assets have only now been defined.

It adds: "As a result of clarity on the sale of these assets, the likely proceeds from this sale and the associated shift in focus of International Petroleum to its African assets, Range will now identify and consider a range of corporate alternatives to the original merger proposal, which may or may not include a merger of the two companies - albeit on terms to be renegotiated."

StockMarketWire.com
Range Resources Limited notes the announcement by Citation Resources Limited today regarding its interest in Guatemala. Range has a direct and indirect 32% interest in the Guatemalan Project.

The highlights are as follows:

- Atzam #5 development well to spud in November - construction of drilling location significantly advanced after heavy late season rains during September and early October

- Atzam #4 continues on production - strong flow rates and well head pressure maintained (250-300 psi) on highly restricted choke (12/64 inch), with no water production to date

- New sales contract for 1,500 barrels completed with Perenco Guatemala

- Total sales exceeding of 13,000 barrels completed since August

- Revenue netbacks received of approximately $60 per barrel

- 20mmbbl 2C contingent resource estimate under review following Atzam #4 success

- Material exploration upside at Atzam - unexplored salt dome and anticline structures to be evaluated and tested in 2014

- Planning for Tortugas Salt Dome re-entry operations on 63-4 and 63-5 wells are advancing with the Operator and relevant service providers.

Annual Report and Notice of Meeting

Comapny Update

And down it goes. More Jam tomorrow.

Quarterly Activities Report and Appendix 5B

http://www.moneyam.com/action/news/showArticle?id=4697437

Range Prepares for Seismic in Puntland

Monday, November 4, 2013


http://www.petroleumafrica.com/range-prepares-for-seismic-in-puntland

More excitement on the way DC?! :o)

Lol, kim is that what you call it.

Haha! Maybe it will be more cr*p then?!

lols kim! but agreed

gl

could they go sub 1p.

Guatemala Update
Range Resources Limited ("Range" or "the Company") would like to draw attention to the announcement released today by Citation Resources Limited (ASX:CTR) with respect to the Company's interest in Guatemala with the following highlights:

- Construction of the Atzam #5 drilling location has been completed and the
well conductor casing is now set down to 100 feet

- The Harold Lee 500 drilling rig is being mobilized to location and will be
drilling ahead towards initial reservoir targets in next few days

- Drilling schedule for Atzam #5 is 40 days to total depth target of 4,100
feet

- Primary reservoir targets are the C17, C18 and C19 carbonate sections

- Atzam #5 well to target the same carbonate reservoirs as Atzam #4 production
well - 2.3m barrels of 2P reserves which excludes the C18 and C19 carbonates

- Atzam #4 production continues on a highly restricted choke (12/64 inch),
with no water production to date

- Significant exploration potential on Atzam Oil Field - unexplored
salt dome and anticline structures to be evaluated and tested in 2014


Range has a direct and indirect 32% interest in the Guatemalan Project.

Why don t they rename this company FFS? Thats what comes to mind every time I read their c**p [sorry - press/RNS releases]. LOL :))

Lol!

Trinidad update:

http://www.moneyam.com/action/news/showArticle?id=4712651

more jam tomorrow - maybe they should rename rrl hartleys or Robinsons or something similar - red again

bit of a mini bounce by the looks....

StockMarketWire.com
Range Resources Limited said the farm-in agreement has now been formally executed with Niko Resources Ltd, the Canadian exploration and development company, regarding the Guayaguayare block in Trinidad.

Range would increase its Trinidad footprint by 280,000 gross acres through the formal execution of a farm-in with Niko Resources. The Farm-in provides Range with broad exposure to both onshore and offshore potential with excellent synergies between Range's three existing blocks and the Guayaguayare block.

The farm-in agreement was subject to final regulatory approval.

Under the terms, Range would earn 50% of Niko's existing interests in the deep and shallow rights covering both onshore and offshore areas.

The consortium would drill two onshore wells: one shallow onshore well to a maximum of 5,000 ft., and one deep onshore well to a minimum of 5,000 ft.

The two onshore wells would test approximately 22% of the prospective resource estimate with the wells to be drilled in the vicinity of the Beach Marcelle Field.

The Beach field itself has produced over 30 MMbo to date. In the event of a discovery from either of the two initial wells, the consortium will then look to drill an initial appraisal well. The first well is targeted to spud in early 2014.

fantastic news - moving fast.................


17 December 2013


The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000

Range completes farm-in agreement with Niko Resources

Highlights:

- Range increases its Trinidad footprint by 280,000 gross acres through
the formal execution of a farm-in with Niko Resources Ltd. on the
Guayaguayare block in Trinidad;

- The Farm-in provides Range with broad exposure to both onshore and
offshore potential with excellent synergies between Range's three existing
blocks and the Guayaguayare block;

- Range to gain exposure to both shallow and deep oil-producing horizons
within the Guayaguayare block, including the highly prospective Cretaceous
section, believed to be the source rock for Trinidad's prolific
onshore petroleum system; and

- Multiple onshore areas within the Guayaguayare block represent (on a 100%
interest basis) a best case prospective resource of approximately 100 MMbo,
while the offshore areas have a best case prospective resource of 33 MMboe.

Range Resources Limited ("Range" or "the Company") is pleased to
announce that further to its announcement on 4 July 2013, the farm-in
agreement has now been formally executed with Niko Resources Ltd. ("Niko")
(TSX:NKO) the leading Canadian exploration and development company, regarding
the Guayaguayare Block in Trinidad. The farm-in agreement is subject to final
regulatory approval.

Under the terms of the farm-in agreements, Range will earn 50% of
Niko's existing interests in the deep and shallow rights covering both onshore
and offshore areas, with the consortium to drill two onshore wells: one
shallow onshore well to a maximum of 5,000 ft., and one deep onshore well to a
minimum of 5,000 ft. The two onshore wells will test approximately 22% of the
prospective resource estimate with the wells to be drilled in the vicinity of
the Beach Marcelle Field. The Beach field itself has produced over 30 MMbo to
date. In the event of a discovery from either of the two initial wells, the
consortium will then look to drill an initial appraisal well. The first well
is targeted to spud in early 2014.

Range will fund the two onshore wells and the potential initial
appraisal well at its sole expense, and will share costs equally with Niko
thereafter, including the cost of drilling an initial offshore test. Expected
to be drilled from an onshore location, the offshore well will test a prospect
that targets the 33 MMboe best case (on a 100% interest basis) prospective
resource.

The Guayaguayare Block represents the largest addition to Range's
Trinidad portfolio to date, increasing the Company's acreage position by more
than 280,000 acres. With several producing fields within the block boundaries,
including the Company's own Beach Marcelle Field, the Guayaguayare Block
combines shallow drilling targets with significant exploration potential and
an expansive area within a highly prolific petroleum system. With several
highimpact prospects already identified on the block.

The farmin presents Range with a perfect opportunity to add
highly prospective acreage on trend with its existing exploration, development
and secondary recovery projects, while leveraging its fleet of drilling and
production rigs and operating experience within the region. Given the
Company's ongoing production operations in South Quarry, Morne Diablo, and
Beach Marcelle, Range is uniquely positioned to operate future discoveries,
both on or offshore, which in turn should result in appreciable synergies and
lower operating costs.

The Guayaguayare Block Overview

The Block surrounds Range's Beach Marcelle Field, and extends south
to the limits of Trinidad's territorial waters. In addition to proven
Tertiaryage exploration targets, the block is believed to hold significant
potential in the Cretaceous section, which has been successfully developed in
the Eastern Venezuelan basin. Four prospective onshore areas have been
identified within the Guayaguayare Block, each considered to have significant
potential for oil, whilst the offshore structural complex is believed to have
significant potential for large gas discoveries with several large structures
mapped.

Niko currently holds shallow and deep Production Sharing Contracts
for 65% of the onshore portion (Range to earn 32.5% on a cost recoverable
basis) and 80% of the offshore portion (Range to earn 40% on a cost
recoverable basis) of the license area with the Guayaguayare Block comprising
280,216 shallow acres and 294,054 deep acres. Trinidad's State Owned petroleum
company, Petrotrin, holds the remaining balance of the interests (35% onshore
and 20% offshore).

The Guayaguayare Block is comprised of over 280,000 contiguous
acres covering both onshore and offshore portions of known, productive trends
along the southern coast of Trinidad. The Guayaguayare block is situated along
trend with the most prolific oil and gas fields in Trinidad and lies in the
transition area between the transpressional Southern basin and the extensional
Columbus basin. A regional wrench fault, an extension of the Los Bajos fault,
cuts through the onshore to offshore transition zone. Traps associated with
this fault produce oil in Southwest Trinidad and off the East Coast from Upper
Miocene / Pliocene Sands.

To date, the following work has been completed by Niko and previous
operators on the block:

Onshore:

- Acquired and processed 217km2 3D land survey

Offshore:

- Acquired and processed 277km2 3D marine survey (2011)

- Two 3D marine surveys were reprocessed (ELF 1997 and Mobil 1990)

- All 3 offshore 3D surveys have been merged prestack (total 836 km2)

moving fast.................What is?

StockMarketWire.com
Range Resources Limited has received Certificate of Environmental Clearance (CEC) approvals from the regulatory authorities for the drilling of a total of 40 wells, 8 well deepenings and commencement of the enhanced recovery waterflood programme (EOR) on its Beach Marcelle license in Trinidad.

"This is a significant milestone for the Company and now paves the way for final project plans for the development/deepening wells and EOR programs to be submitted to the regulatory authorities for final formal approval with operations scheduled to commence Q1 2014," the company said in a statement.

Whist awaiting the CEC approvals, Range had completed the Beach project development plans and recently presented its waterflood development program to Petrotrin.

As previously announced, Range was also assessing the potential use of nitrogen injection to further assist recoveries and production rates.

Nitrogen injection would increase production rates and recoveries from the field whole leading to additional increases in Proved Reserves.

Guatemala Update
Range Resources Limited ("Range" or "the Company") would like to draw attention to the announcement released today by Citation Resources Limited (ASX: CTR) with respect to the Company's interest in Guatemala with the following highlights:

- The Harold Lee 500 rig now set up on the Atzam #5 drill pad, following the recent completion of location site works
- The rig's drilling mast is set in place, with auxiliary equipment now being connected to the rig to enable commencement of drilling operations
- The rig is expected to be drilling ahead towards the initial reservoir targets in 3-4 days
- Drilling schedule for Atzam #5 is 40 days to total depth target of 4,100 feet
- Primary reservoir targets are the C17, C18 and C19 carbonate sections
- Atzam #5 well to target the same carbonate reservoir targets as the Atzam #4 production well - 2.3m barrels of 2P reserves which excludes the C18 and C19 carbonate sections in Atzam #4
- Atzam #4 continues to be produced on a highly restricted choke (12/64 inch) to manage the reservoir integrity, still with no water production to date
- Significant exploration potential on Atzam Oil Field - unexplored salt dome and anticline structures to be evaluated and tested through 2014

Range has a direct and indirect 32% interest in the Guatemalan Project.

rns rns rns - texas to complete by end jan,,,,,,,,,,,,,,,,,,,,,,,,,,,

north here we go,,,,,,,,,,,,,,,,,,,
extract

Following
recent communication from the purchaser, they have now indicated that they
expect to be in a position to complete on or about the end of January 2014.

StockMarketWire.com
Range Resources expects to complete the $30m sale of its Texas assets on or about the end of the month.

Range previously agreed an ongoing extension of the settlement timeframe for the sale of these assets to accommodate further payment delays requested by the purchaser.

Range understands that the delays in receiving the proceeds from the sale have largely been a result of unanticipated changes required for corporate restructuring by the purchaser, which have taken significantly longer than expected to resolve.

Range says the purchaser has now indicated it expects to be in a position to complete on or about the end of January.

Guatemala Update
Range Resources Limited would like to draw attention to the announcement released today by Citation Resources Limited (ASX: CTR) with respect to the Company's interest in Guatemala with the following highlights:

- Atzam #5 oil well has been spudded - Latin American Resources Harold Lee 500
rig is drilling ahead towards the well's initial reservoir targets

- Drilling schedule for Atzam #5 is approximately 40 days on a trouble free
basis, to a planned target depth of 4,100 feet

- Primary reservoir targets are the C17, C18 and C19 carbonates

- Atzam #5 well to target the same carbonate reservoir targets as the Atzam #4
production well - 2.3m barrels of 2P reserves which excludes the C18 and C19
carbonate sections in Atzam #4

- Increased Atzam #4 production well flow rate following opening of choke-
flow rate increased to 150 bopd immediately following small increase in the
choke size (12/64 to 16/64 inch), still with no water production to date

- Significant exploration potential on Atzam Oil Field - unexplored salt dome
and anticline structures to be evaluated and tested through 2014

Range has a direct and indirect 32% interest in the Guatemalan Project.

Guatemala Update

Range Resources Limited ("Range" or "the Company") would like to draw
attention to the announcement released today by Citation Resources Limited
(ASX:CTR) with respect to the Company's interest in Guatemala with the
following highlights:

- Atzam #5 oil well was spudded on 15 January and is drilling on schedule,
currently at 431 ft

- Initial drilling program progressing as planned through shallow, hard
limestone section

- Drilling schedule is approximately 40 days on a trouble free basis, to a
planned TD of 4,100 ft

- Primary reservoir targets are the C17, C18 and C19 carbonates - expected
to be drilled through from circa 2,700 ft

- Atzam #5 well targeting the same carbonate reservoir targets as the
Atzam #4 production well - 2.3m barrels of 2P reserves excluding the Atzam
#4 primary C18 and C19 carbonate sections

- Atzam #4 production continues at ~150 bopd from C17 carbonate section -
following increased choke (16/64ths) production rate and well head pressure
constant after 2 weeks, no water production

- Significant exploration potential on Atzam Oil Field - unexplored salt dome
and anticline structures to be evaluated and tested through 2014

Range has a direct and indirect 32% interest in the Guatemalan Project.

Sub 1p is possible.

Sub 1p today.

Next step probably bang and it will be gone.

Trinidad Operations Update

The Company is pleased to provide an update on operations at its
Trinidad assets with the following highlights:

- Drilling rigs 2, 5 and 8 resume operations:

- QUN 148 well drilled to a target depth of 691 feet in the Lower
Forest horizon. Oil shows were observed while drilling and well log analysis
indicates 30 feet of oil sands present. The well is currently scheduled to be
perforated and completed for production. The drilling rig will now move to the
next QUN 149 well location.

- QU 452 well drilled to a target depth of 1,814 feet. The well was
logged indicating 80 feet of gross oil sands. The Company will now drill the
well deeper until the base of the reservoir sands is reached. QU 452 is the
first well to be drilled in South Quarry since 2007. The well is expected to
extend the field's Middle Cruse producing trend into new fault blocks. A
successful well will result in additional Proved Reserves and future drilling
locations.

- MD 248 well is being prepared for side tracking from 3,234 feet
targeting the Lower Cruse formation.

- Zero safety incidents since September 2013, approaching six
months LTI-free operations

- The maintenance programme for light rig 1 and heavy rigs 6 & 7
continues as planned

Rory Scott Russell, CEO, commented:

"Having reviewed our Trinidad operations, I am pleased to see that
our drilling services company is now back to satisfactory operational levels,
with key rigs up and running and drilling wells safely and efficiently. I have
confidence in our operations and in the team on the ground who will continue
to work on addressing production decline and unlocking value via our
development activities."

A bit of a tick up today - the last lot of these I sold was @16p - tempted to have a punt.

In auction +21.9%.

Do you think either of us will live that long skinny? I'm stuck with these from 9p :O)

Chris - I bought @5p, 5.94p, & 8.8p and sold 16.25p so not complaining.

I bought a few on Friday - let's see what happens!

You certainly had sense skinny - as you know, myself and lots of others are stuck here good style. GL with your new purchase.

3m - thanks - but it was of course - luck.

Could go bust at this time.

As an investment its a sell.

Range wishes to provide the following update on the Company's corporate and operational activities:
http://www.moneyam.com/action/news/showArticle?id=4795549

Guatemala Update
Range would like to draw attention to the announcement released today by Citation Resources Limited (ASX: CTR) with respect to the Company's interest in Guatemala with the following highlights:

- Atzam #5 well has been successfully drilled to its planned total depth of 4,025 feet intersecting the lower C18, C19 and Coban D reservoir sections on structure

- Material oil and gas shows continually generated at surface from drilling final carbonate sections despite heavy mud weight used (9.5lbs) to maintain good hole condition

- Atzam #5 well is confirmed at TD structurally high to Atzam #4 (~66 feet) and Atzam #2 (~320 feet)

- Atzam #2 recorded initial flow rates in excess of 1,000 bopd from the primary C18, C19 and Coban D carbonate sections

- Electric logging suite to be run from 3,600 feet to 4,025 feet to evaluate primary carbonate reservoir sections - due to commence within 24 hours

- Flow testing program to start immediately following Schlumberger analysis on full suite of electric logs across all carbonate reservoir sections identified in Atzam #5

- Results of Schlumberger detailed logging evaluation expected within 7 days

- Interpretation by the Operator of initial logs run down to upper C18 carbonate sections at 3,600 feet indicated multiple potential pay zones starting from the C13 carbonates

- Logging indicates highly fractured potential reservoir sections- fracturing in carbonates normally provides assistance to flow rates

Range has a direct and indirect 32% interest in the Guatemalan Project.

Turning upwards time to buy..?

This from II earlier - Range's lack of quarterlies overshadows Guatemala success

StockMarketWire.com
Range Resources said, given its focus on Trinidad, it has made a strategic decision for a partial withdrawal from Colombia and has relinquished its investment obligations on PUT-7 block in the Putumayo Basin in Colombia.

"Therefore, Range will not be pursuing the option to earn into this block," the company said.

Range's exit from PUT-7 block doesn't affect its position with regards to the farm-in arrangements in relation to PUT-6 block or to the $3.48 million performance bond that it holds over PUT-6.

The Company is currently reviewing its options with regards to PUT-6 and will update the market accordingly in due course.

US$12 Million Financing Secured

US$12 Million Financing Secured
Range is pleased to announce that it has entered into a Subscription Agreement with Abraham Ltd, a Hong Kong based private institutional investor (the "Investor"). Under the terms of the Subscription Agreement, the Investor will subscribe US$12 million in cash and will be issued with Ordinary Fully Paid Shares of the Company ("Share" or "Shares") at a price of £0.01 per Share (the "Subscription"), representing a premium of approximately 49% to the mid market share price at the close of business on
AIM on 14 May 2014 (being the business day immediately prior to this announcement).

At current exchange rates, the Subscription will be for approximately £7.1 million and will result in the issue of approximately 712 million Shares. The Subscription is in two tranches and the number of shares in each tranche will be dependent solely on the exchange rate between GBP and USD at the time of completion. Upon completion of the two tranche Subscription, and subject to shareholder approval, the Investor is expected to hold approximately 15% of the enlarged share capital of the Company.

The funds will be used to repay existing debt, including convertible instruments that have diluted the Company's equity over recent months. As announced on 30 April 2014, the Company's total debt at that date was approximately US$10.5 million. The remainder of proceeds of the Subscription will be used for general working capital of the Company.

Appointment of Chief Financial Officer


Range is pleased to announce with immediate effect the appointment of Mr. Nick
Beattie as Chief Financial Officer ("CFO"), to be based in London.

Nick Beattie, aged 40, has over twenty years of experience in finance working
with a range of international banks. Most recently Nick was a Managing
Director in the BNP Paribas Upstream Oil and Gas team in London where he was
responsible for leading the bank relationships with UK focused independent E&P
companies. He has approximately ten years' experience specifically financing
the E&P sector and whilst at BNP Paribas, Nick structured and led numerous
reserve based loans, development financings and other debt facilities. Prior
to working with BNP Paribas, Nick worked as a Director within the Oil and Gas
finance team at Fortis Bank covering Europe, Middle East and Africa and in a
variety of roles with National Australia Bank Group. Nick is an Associate
Member of the Association of Corporate Treasurers and a Fellow of the Chartered
Institute of Bankers in Scotland.

US$12 Million Financing Update

PRNW



29 May 2014

ASX Code: RRS and AIM Code: RRL

Range ResourcesLimited

("Range" or "the Company")

US$12 Million Financing Update

Range is pleased to confirm that, further to the previously announced US$12
million financing with Abraham Ltd (the Investor) (see announcement on 15 May
2014), the full Subscription proceeds of US$12 million have been received by
the Company.

As per the terms of the Subscription Agreement, the Investor will now be issued
with Ordinary Fully Paid Shares of the Company (Share or Shares) in two equal
tranches. In each tranche, the Shares will be subscribed at a price of £0.01
per share, representing a premium of approximately 49% to the mid market share
price at the close of business on AIM on 14 May 2014.

Based on the applicable exchange rate for the first tranche of US$6 million,
the Investor will subscribe for 356,188,780 Shares which will be issued on or
around 28 May 2014 and admission to trading on AIM is expected on or around 6
June 2014.

The second tranche of Shares is subject to shareholder approval. The US$6
million will be repayable to the Investor if Range shareholder approval is not
obtained within 60 days of the date of signing the Subscription Agreement for
the issue of the second tranche of shares and for the warrants (as set out on
the announcement on 15 May 2014). The Company will provide details of the
upcoming General Meeting via a separate announcement.

Upon completion of the two tranche Subscription, and subject to shareholder
approval, the Investor is expected to hold approximately 15% of the enlarged
share capital of the Company.

The funds will be used to repay existing debt and for general working capital
of the Company. Further details on debt repayment will be provided in due
course.

Terms used in this announcement shall have the same meanings given to them in
the announcement on 15 May 2014.

Clarification to the announcement released on 27 May 2014

The Company notes an administrative error in the announcement released on 27
May 2014 `Issue of Shares'. The conversion price of 67,666,667 Ordinary Fully
Paid Shares pursuant to the conversion of debt is $0.01 per share and not
$0.001 per share as previously stated.

Yours faithfully


Rory Scott Russell

What happened to Peter L., his name is never mentioned these days? Think we have still a long wait on this one dc.

Trouble is, the squillion shares now in issue.

He is still in the back ground 3m. He should be gone. A share consolidation in the future perhaps. A good run needed from Trini and some good hype with Puntland and the sp may advance. I did say may.

You know I do not like share consolidations dc - you naughty boy. It will take more than a share consolidation. We pay our money and take the chance, hope you are okay, weather awful for the end of may but that is England. Potatoes doing better than rrl - ha! ha!

Lol 3monkies.

Change of Advisor

Range is pleased to announce that it has appointed Cantor Fitzgerald Europe as
its Nominated Adviser and Joint Broker with immediate effect. GMP Europe will
continue to act as the Company's Joint Broker.

Maybe Range should start digging for potatoes then 3M!

They might be better at it kim.

Beaufort Securities -


Range Resources (LON:RRL)

Further to its announcement on 15th May 2014, Range Resources announced successful securing of a US$12m subscription proceeds from Abraham Ltd. In return, Abraham Ltd would be issued 356.2 million fully paid shares of £0.01 each, totalling US$6m, in the first tranche of placing. These shares are expected to start trading on the AIM from 6th June 2014. The second tranche of share issue at £0.01 each would be subject to shareholder approval, failure to which would lead to repayment of the remaining US$6m to Abraham Ltd. Range intends to utilise the funds for repayment of its existing debt and for the general working capital requirements. The stock climbed 8.5% in yesterday’s trade.

Our view: This latest round of successful funding, for up to US$12m, is in addition to the recent placing of 25 million shares at US$0.01 per share. These funds are likely to bolster the progress of the company’s ongoing work programme. The recent appointment of Mr. Nick Beattie, with over 20 years of experience in finance and prior exposure to the oil & gas industry, as the new Chief Financial Officer (CFO) also bodes well for Range. Meanwhile, with the farm-in agreement with Niko Resources and clearances for several drilling operations at the Beach Marcelle project, Range continues to develop onshore Trinidad oil assets. Last month, the company had also entered into a memorandum of understanding (MoU) with China’s LandOcean Energy Services for the development of international oil and gas projects. Considering these positives and the ongoing fiscal incentives in Trinidad and Tobago, we maintain a Speculative Buy rating on the stock.

Range enters into Integrated Master Services Agreement with LandOcean
Range is pleased to announce that, further to the announcement on 22 April
2014, the Company has entered into an Integrated Master Services Agreement with
LandOcean Energy Services Co Ltd ("LandOcean") (SHE:300157). The agreement
provides Range with an extremely capable and technically sophisticated
preferred services provider. In addition, Range and LandOcean have agreed a
financing package of up to US$50 million.

Integrated Master Services Agreement
According to the Integrated Master Services Agreement ("IMSA"), LandOcean will
act as the preferred services contractor (subject to all tendering and
procurement rules) for Range for oilfield services including geoscience,
engineering, procurement and construction. Services provided under the IMSA
will be agreed in individual purchase orders as the need for services arises.
LandOcean will work for Range as a contractor on a "net cost plus" basis to be
agreed in each Purchase Order. In addition, where services under a purchase
order have been provided and have directly resulted in increased production for
Range, LandOcean will be entitled to an incremental production bonus share of
Range's after costs and capital expenditure. This incremental production bonus
structure ensures LandOcean are incentivised to maximise production and cash
flows for Range. The IMSA will last up to eight years and could cover a total
contract value of up to US$400 million over this period.

Optional Financing Package
In addition to the services agreement LandOcean will also provide Range an
option to take up to US$50 million of financing. The financing is available
primarily to pay for LandOcean's services but can be used for other purposes if
the two companies agree. The US$50 million will be made available in tranches.
The first US$20 million tranche will be subject to interest at 10% per annum,
with first interest payment due on the first anniversary of drawdown. Capital
repayments will start after two years and will be paid equally over the next 36
months. The terms of additional tranches will be the subject of further
agreements between the respective companies.

First Purchase Order
Under the IMSA, Range and LandOcean have entered into the first purchase order
to draw down US$5 million of services from LandOcean. These services include a
wide ranging geological and engineering study of secondary recovery projects
(including waterflooding) in the Beach Marcelle, Morne Diablo and South Quarry
fields in Trinidad.

Company Update

Range is pleased to provide a Company update with the following highlights:

* As a result of the recent debt repayment, the total outstanding debt of the
Company is forecast to reduce from $US10.5 million (as reported on 30 April
2014) to approximately GBP 75,000 by the end of June 2014.

* The Company's equity interest in Citation Resources Limited (ASX: CTR) has
reduced to 6.67%. Following this change, Range will have a direct and
indirect interest of approximately 24% in the Guatemalan Project
(previously 32%).

Debt Repayment

Following completion of US$12 million financing (see Announcement on 29 May
2014), Range utilised the funds to repay the Company's debt and is pleased to
provide details on its debt repayment progress.

The Company has agreed to pay a total of approximately US$7.4 million to repay
outstanding debt with Platinum Partners, Yorkville and a syndicate of
Australian investors, out of which US$6.7 million has already been paid with a
remaining final payment of approximately US$0.7 million to be paid to the
Australian syndicate prior to 30 June 2014.

The remaining lenders, Hudson Bay and a US based institutional investor, which
had outstanding loans of AU$250,000 and GBP 210,000 respectively, continue to
be repaid through the conversion into equity rather than cash, as permitted
under their respective loan agreements. As a result, the AU$250,000 loan with
the US based institutional investor has been fully repaid and converted into
27,777,777 shares. The outstanding GBP 210,000 loan with Hudson Bay Master Fund
was partially converted (through the issuance of 23,333,334 shares and
11,666,667 unlisted options - please refer to Issue of Shares at the end of
this announcement). The current outstanding loan balance with Hudson Bay Master
Fund is GBP 75,000 and this loan expires on 13 September 2015.

The total remaining outstanding Company debt has therefore reduced from $US10.5
million (as reported on 30 April 2014) to approximately GBP 75,000 after final
payment of approximately US$0.7 million to be paid to the Australian syndicate
prior to 30 June 2014.

As part of the original debt agreement, Platinum Partners held 100 million
Range shares along with 100 million shares Range held in Citation Resources
Limited (ASX: CTR), as collateral for the loan. Range has agreed with Platinum
Partners that the lender is not required to return to the Company these shares,
as part of the loan settlement. This arrangement has, therefore, allowed the
Company to fully repay the loan for a reduced cash payment and provides the
Company with additional liquidity to fund its Trinidad commitments and for
on-going general working capital.

Interest in Citation Resources Limited

As a result of the transactions detailed above, the Company's equity interest
in Citation Resources Limited (ASX: CTR) which holds interest in the Guatemalan
Project has reduced to 6.67%. A Form 604 - Notice of Change of Interest of
Substantial Holder advising of the change in shareholding has been lodged with
the Australian Securities Exchange today.

Range retains its 20% interest in Latin American Resources, which holds an 80–
100% interest in the Guatemalan Project.

Following this change in Citation Resources Limited shareholding, Range will
have a direct and indirect interest of approximately 24% in the Guatemalan
Project (previously 32%).

Commenting on today's announcement, Rory Scott Russell, CEO, said:

"We are pleased to have reached agreements with our various lenders to repay
the expensive corporate debt which has diluted the Company's equity over recent
months. The Company has been able to achieve these repayments as a result of
the US$12 million equity financing which completed last week. The agreements
reached allow the company to maximise its cash position to fund development
work on its core Trinidad assets as well as retain cash for other corporate
purposes. Substantially removing this expensive and dilutionary debt is an
important step as we continue to focus on our operational and long term
financing objectives."

more.....

Meet Range Resources’ new CEO

if you didn’t take the opportunity it might never come again


http://www.trinidadexpress.com/business-magazine/Meet-Range-Resources-new-CEO-261756371.html

Back above the 200ma for now.

showing green shoots. :-))

The skys the limit.

Only just a tad overbought then :O) Question is will I be alive when it gets back to 9p?

New Range buyers 'will do very well'


Tue, 10th June 2014 - 12:17

http://www.iii.co.uk/tv/episode/new-range-buyers-will-do-very-well

Be hard to do any worse DC :O)

lol . I thought you were going to say what about the old timers.

Changes to the Board of Directors

PRNW



13 June 2014

ASX Code: RRS and AIM Code: RRL

Range Resources Limited

("Range" or "the Company")

Changes to the Board of Directors

As part of a corporate restructuring initiative, Range announces the
resignation of Mr. Peter Landau and Mr. Anthony Eastman from the Board of
Directors, effective immediately.

The Board has initiated a recruitment process for two Australian Directors to
replace the outgoing Directors, as required by the listing rules of the
Australian Stock Exchange.

Commenting on today's announcement, Sir Samuel Jonah, Chairman, said:

"I would like to thank Peter and Anthony for their dedication and contribution
to the Company. On behalf of the Board, I wish them all the best in the future.

I am also extremely pleased that Range now has a new executive team with a very
focused strategy to increase production from Trinidad, rationalise the
portfolio and create value for its shareholders."

Yours faithfully


Sir Samuel Jonah

Chairman

At long last PL being replaced. The sp may well make grounds now. :-))

The pay zone - Range Resources (LON:RRL) – 2 cheers hooray…

Having not touched this stock for years I seem to be writing about it a lot at the moment but only as announcements are coming thick and fast. It is tempting to say that this one is the best of them all but clearly sorting out the debt and so on does take precedence. Having said that I am sure that the cheers from the Range shareholders will be louder than on Coca cabaña beach last night as two directors associated with the past have left the company, my BUY recommendation remains bang on target as the new brooms continue to sweep.

Might we get some straight talking now? :o)

Lol.

Very good skinny!

Trinidad Operations Update and Increase in Reserves

Range is pleased to provide an update on its Trinidad operations
with the following highlights:

- Operations continue without any significant Health, Safety,
Security and the Environment (HSSE) incidents.

- Production has increased by 18% from the previously reported 533
barrels of oil per day ("bopd") (see announcement on 22 April 2014) to 630
bopd.

- The increase in production is primarily due to excellent results
at the South Quarry QU 452 development well. The well is producing at a
stabilised rate of 70 bopd of very light 470 API oil on a 5/32" choke.

- The well was drilled to a depth of 1,945 ft., and a 17 ft.
section perforated between 1,702-1,730 ft.

- QU 452 is the first development well to be drilled in the South
Quarry licence since 2007. This successful outstep development well confirms
the extension of the shallow producing trend and is expected to result in
additional development drilling targets and an increase to the Company's
proved reserves (additional to the increase in proved reserves mentioned
below).

- Four of the fleet of six drilling rigs are fully operational:

- Rigs 1 and 5 are engaged in development work in the Morne Diablo licence.

- Rig 6 is engaged in workover operations also at Morne Diablo.

- Given encouraging results from South Quarry QU 452 well, the Company is
currently evaluating the possibility of moving rig 8 to South Quarry licence
to drill additional development targets and expedite the drilling programme.

- The remaining rigs 2 & 7 are undergoing maintenance.

- The Company is finalising the location of the first planned well
on the Guayaguayare block with JV Partner Niko Resources, and will update the
market on further progress via separate announcements.

Increase in Reserves

Range is pleased to announce an independently audited increase in
reserves attributed to the Company's onshore Beach Marcelle, Morne Diablo and
South Quarry licences in Trinidad.

The Company's total 2P reserves have increased by over 9% from the
previously reported 20.2 MMbbl to 22.1 MMbbl. These reserve increases are a
result of the Company's ongoing development drilling programme and consequent
update to development schemes in Trinidad during the period. During the period
the Company produced 1.2 MMbbl of oil from its three fields.

The updated independent reserves report was completed by Forrest A.
Garb & Associates, Inc. ("FGA") with the reserve volumetrics used in the
report effective January 1, 2014 and prepared in accordance with SEC
Regulation S–X and with the guidelines of the Society of Petroleum
Engineers.


more....

Atzam 5 Well Update

Range Resources Limited

("Range" or "the Company")

Atzam #5 Well Update

Range notes the announcement released by Citation Resources Limited (ASX:CTR)
on the Guatemalan Project.

Investors are encouraged to read the full announcement, which can be accessed
at: http://www.citation.net.au/media/articles/ASX-Announcements/
20140617-Atzam-5-Update-and-Appendix-3B-298/Atzam-5-Update-and-Appendix-3B.pdf.

Range has a direct and indirect 24% interest in the Guatemalan Project.

Trinidad Approves New Positive Fiscal Incentives

Trinidad Approves New Positive Fiscal Incentives

Range is pleased to confirm that, further to announcement of 16 September 2013,
the Government of Trinidad and Tobago has approved and adopted the proposed
budget incentives for oil and gas companies introduced by the Minister of
Finance and Economy of Trinidad and Tobago in the 2014 Budget Statement. These
newly proposed budget incentives, which especially reward companies with
accelerated development and exploration programmes including Range, are
expected to have a significant positive impact on the Company's cash flows and
returns from its ongoing production growth. These changes will be effective
retrospectively from January 1, 2014.

Commenting on today's announcement, Rory Scott Russell, CEO, said:

"Range is fully committed to growing its business in Trinidad and we are
therefore delighted with the ratification of these new positive fiscal
incentives. Operating in a favourable economic environment will bring
significant benefits to the Company as we continue to increase production and
unlock value from our core development assets in Trinidad."

The key changes to the fiscal regime that impact Range can be found in the
table at the end of this announcement.


more..

I guess the market were thinking progress was a lot further on, hence perhaps the 11% fall today.



Atzam 5 Well Update

PRNW



17 June 2014

ASX Code: RRS and AIM Code: RRL

Range Resources Limited

("Range" or "the Company")

Atzam #5 Well Update

Range notes the announcement released by Citation Resources Limited (ASX:CTR)
on the Guatemalan Project.

Investors are encouraged to read the full announcement, which can be accessed
at: http://www.citation.net.au/media/articles/ASX-Announcements/
20140617-Atzam-5-Update-and-Appendix-3B-298/Atzam-5-Update-and-Appendix-3B.pdf.

Range has a direct and indirect 24% interest in the Guatemalan Project.


Yours faithfully


Rory Scott Russell
Chief Executive Officer

Range Resources Tading Halt

Share Trading Update

Further to the Company's announcement released today regarding the voluntary
suspension on ASX, Range confirms that share trading on AIM will be unaffected.

As previously announced, the Company is in the process of appointing two
Australian resident directors to replace the two that resigned from the Board
recently, as part of the requirement under Australian Law and ASX rules.

The Company requested the voluntary suspension on ASX to be in place until it releases
an announcement regarding the new appointments, and expects to make the
announcement before the commencement of trading on Monday, 30 June 2014.

The ASX announcement can be accessed at:
http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1227.

Range Resources' new management team is 'new beginning' for company

By Sarah Lowther

June 30 2014, 12:53pm



Rory Scott Russell, CEO of AIM and ASX-listed Range Resources (LON:RRL; ASX:RRS) tells Proactive Investors the new management team is the start of 'a new beginning for the company'.

He says investors can look forward to upcoming announcements around funding in Trinidad, divestment of assets and reshaping the company's portfolio to complete the journey the company started with its new strategy.




http://www.proactiveinvestors.co.uk/companies/stocktube/2912/range-resources-new-management-team-is-new-beginning-for-company-2912.html

Wowzers - will we still be alive when they come into fruition??????

Fresh start! A new company presentation.

Posted on 1 July 2014 by Malcy

Range Resources

I had a long meeting with Range last Friday, I wanted to catch up after so many announcements and to ensure that my positive stance on the shares was justified. Also I notice that the company has done a team interview on Proactive Investors, has a conference call scheduled for this morning ( I listened, it was professional) and is presenting at the Oil Barrel conference tomorrow. The confidence that is shown by the management, specifically Rory Scott Russell the CEO, is indicative of how much progress the team has made in a few short months.

When I met Rory for the first time he had only been on board for seven weeks and the scale of the problem was daunting, it should not be underestimated quite how much has been achieved in such a short space of time. I don’t intend to go into detail again, it is all with hindsight obvious, but clearing the debt, the deals with Land Ocean and Abraham and the concentration on Trinidad have set the company up well, new, high quality management is already in place and the goons who got them into this mess should be history. I was lucky to find such a recovery when I did, since the first recommendation the shares have already tripled, the blog now calls it ‘doing a Range’ which is fun. I would finally say that when I first put the shares on the buy list there was an inevitable caveat in the risk factor of it not working, I now feel that I can say that the risk factor has gone to a large degree and that my next target of 5p is very achievable, I hope to be at Oil Barrel tomorrow so see you there.
- See more at: http://www.malcysblog.com/#sthash.aYqxNknY.dpuf


http://www.malcysblog.com/

Cantor Fitzgerald Buy 1.93 1.86 - 3.70 Initiates/Starts

2p beckons.

Range Resources rated 'buy' as Cantor Fitzgerald begins coverage

By Ian Lyall

July 02 2014, 11:58am
Efforts are focused on production in Trinidad, and in particular doubling output there by the end of the year to 1,000 barrels a day, rather than chasing more speculative targets.
Efforts are focused on production in Trinidad, and in particular doubling output there by the end of the year to 1,000 barrels a day, rather than chasing more speculative targets.


Cantor Fitzgerald has started coverage of Range Resources (LON:RRL, ASX:RRS) with a ‘buy’ recommendation and 3.7p a share price target.

The valuation just under double the current share price, which itself is up around 180% in the last three months.

Analysts Emily Ashford is a fan of the new strategy mapped out by chief executive Rory Scott Russell.

He and his team’s efforts are focused on production in Trinidad, and in particular doubling output there by the end of the year to 1,000 barrels a day, rather than chasing more speculative targets.

The group plans to exit the US, Georgia and possibly Colombia.

Ashford is also impressed by its alliance with LandOcean, one of China’s largest oil services company.

LandOcean introduced Range to a new institutional shareholder, which subscribed to US$12mln of shares that allowed the AIM and ASX listed group wipe out its debts.

“With a strengthened core management team, reshaped portfolio, a new strategic alliance and refinanced debt, we believe Range has a revitalised and sensible strategy for shareholder value creation,” the Cantor analyst said in a note to clients.

At 11.55am, the stock was changing hands for 1.98p for a rise of 7%.

2.05p on the offer.

It would read better 20.5p on offer. :-))

free stock charts from uk.advfn.com

DC - true!

Out of auction again +8.3% atm.

Great share.

Huge trading today, perhaps news of sales imminent.

Some of us unfortunately have still got a long way to go!!!!! I don't think I am going to buy any more to get my spread down, think enough is enough but a woman can always change her mine ha!

Excercise of options.

70m plus shares issued.

Range Resources: Renewed, re-invigorated and with a laser focus on production

By Ian Lyall

July 04 2014, 8:33am
If you want to get ahead, wear a hat (a hard hat in this case). Chief executive Rory Scott Russell (centre) and his team discuss the way ahead in Trinidad.
If you want to get ahead, wear a hat (a hard hat in this case). Chief executive Rory Scott Russell (centre) and his team discuss the way ahead in Trinidad.


For those who’ve followed Range Resources (LON:RRL, ASX:RRS) over the last few years, its current incarnation under new chief executive Rory Scott Russell and his team is a world away from what went before.

Gone is the pre-occupation with the speculative. In its place is a laser focus on its assets in Trinidad and doubling production by the year-end to 1,000 barrels of oil a day.

The addition of a new cornerstone investor, Hong Kong-based Abraham Limited, brought in the US$12mln (at a 50% premium to the share price at the time) that was used to repay expensive convertible debt.

While Range has a strategic alliance with Chinese oil services firm LandOcean, which is valued at US$1bn and which is a specialist in water flooding that will help tap 14mln barrels of the Beach Marcelle acreage on the island.

Rather than relying on investors, the group plans to raise debt to develop its producing assets.

“This is a new beginning for Range,” Scott Russell told Proactive Investors.

“Substantially we are a re-launched company with a new management and a new strategy.”

That new management includes chief financial officer Nick Beattie, former managing director of bank BNP Paribas upstream oil and gas team, and exploration chief William Duncan, a 30-year veteran who previously led operations in Libya and Trinidad.

The aim is to bring the big company experience and discipline to a small firm – but without the overheads.

Initially, the plan is to increase production to 1,000 barrels.

The potential is there on the producing Morne Diablo, South Quarry and Beach Marcelle licences it bought in 2011.

A shallow well might take 10 days to complete and be ready for production in another week.

Okay, the initial production rate might be 20-75 barrels a day with a fairly steep decline. However, the well pays for itself in a couple of months.

With 12 of its own rigs on hand, the costs can range from a barely believable US$150,000 a well to perhaps US$750,000 for a deeper hole.

Moreover, Range has identified 175 targets that it can drill over the next three years.

The increasingly benign fiscal regime means that the economics of Trinidad soon start to stack up.

A back of the envelope calculation suggests that even at a rather a pessimistic US$15 a barrel ‘netback’ the group should be close to covering its costs at 1,000 barrels a day.

Analysts suggest the netback is more likely to be US$16-25 a barrel.

Scott Russell won’t be tied down to a longer term target, principally because he isn’t sure just how much money he will be able to secure as debt.

But it is fair to say 2,500 barrels looks like an achievable near-term target.

Range isn’t totally devoid of excitement – even though management’s mantra is that “boring is the new exciting”.

In the last round it picked up the St Mary’s Block and it is farming into Niko Resources’ Guayaguayare acreage on the south-east coast of Trinidad.

With this acreage position and P2 reserves of 22mln barrels, Range has come from nowhere to be the biggest private onshore operator on the Caribbean island.

“It means we are uniquely placed to take advantage of the incentives and the opening up of the onshore to international investment,” said Scott Russell.

“Big capital allowances are there that improve the fiscal terms and provide incentives to companies like ourselves.”

Outside Trinidad, Range has been involved in drilling two wells in Guatemala. Atzam-4 well was a discovery which is currently producing around 150 barrels a day and the Atzam-5 well is currently undergoing production testing.

Guatemala is one of the diverse set of assets the team inherited, but along with its holdings in Colombia its status in the portfolio is under review.

The group plans to exit Texas and the Republic of Georgia. For both assets the divestment process is already underway.

Meanwhile, Puntland, formerly the source of a great deal of excitement for followers of Range, will be retained.

“It is potentially high upside onshore acreage and the operator (Horn Petroleum) is very good. It is low cost to keep it going, so why wouldn’t we?” asks Scott Russell.

The shares, currently changing hands for 2.2p each, are up around 80% since Scott Russell joined in February this year.

But with a price target of 3.7p a share, Cantor Fitzgerald believes there is further significant upside.

“Range’s interest in Trinidad represents a low-risk, low-cost, high-profit production asset base, with exploration upside and potential for enhanced recovery. In our view, the reservoirs are shallow and well understood with geological risk being virtually zero, given the volume of historical drilling in the region.”,” said analyst Emily Ashford.

Result of meeting

RESULTS OF GENERAL MEETING

In accordance with Listing Rule 3.13.2, it is confirmed that the following
resolutions put to the General Meeting of Range Resources Limited, held on 11
July 2014, were passed on a show of hands:

Resolution 1 - Approval of Issue of Shares and Options

Resolution 2 - Ratification of Prior Issues under Financing Agreements

Resolution 3 - Approval for Share Placement


In addition, information required to be disclosed by the Company in accordance
with section 251AA of the Corporations Act is also attached.

A copy of the Notice of Meeting can be found on the Company's website.

Atzam #5 Well –Testing Operations Resume On C18 Carbonate Sections
Citation Resources Ltd (ASX: CTR) (Company or Citation) advises that testing operations are set to recommence on the Atzam #5 well, with the immediate program to be focused on the C18 carbonates located behind production casing above the final casing point at 3,600 feet. The testing program was recently delayed whilst Schlumberger sourced and delivered a larger 7 inch perforation gun from Mexico to location, which has arrived in recent days. The new perforation gun and tools have now been run in the hole on wireline and the next phase of Atzam #5 testing operations are now due to commence.
The larger 7 inch perforation gun will enable more of the targeted carbonate sections to be opened up to the wellbore, to help evaluate the commercial flow rate potential of each zone. The Atzam #5 testing operations will recommence on the C18 carbonate sections, starting from around 3,500 feet, and move up the wellbore to test the prospective sections located behind the production casing identified from the detailed log data. Testing operations have now moved from the open hole section of the well below 3,600 feet where the lower C18 and C19 carbonates were tested during June, which produced hydrocarbon but not in commercial volumes required by the project partners.
The Schlumberger logs analysis, combined with the significant oil shows from multiple zones whilst drilling, detail the commercial potential in the well from the C13 carbonates down to the C18 carbonate structures delineated in the Atzam #5 well. All these potential commercial pay zones will be perforated and tested as part of this ongoing program, until a zone produces at material commercial rates. On success such a zone would then be put on production, like the C17 producing zone in Atzam #4 that continues to produce under natural reservoir pressure at approximately 170 bopd.
Review of the Atzam #5 log data confirms the well has very similar reservoir characteristics to the Atzam #4 well. The full Schlumberger log dataset and associated drilling reports have been provided to the independent reservoir consultants Ralph Davis, who are currently preparing a detailed reserve report for the Atzam #5 well. The Atzam #5 log data also helps confirm the extension of multiple carbonate reservoir sections across the Atzam structure drilled to date.

Independent Atzam #5 Reserves Report

Following completion of the drilling operations at Atzam #5, the Operator ran a full suite of electric logs from the first carbonate sections intersected down to the well’s total depth of 4,025 feet. Leading global oilfield services firm Schlumberger has completed its independent review of the electric logs run across all carbonate sections in Atzam #5. The full suite of logging data and reports from Schlumberger have been passed onto Ralph Davis who are completing a reserve report on the Atzam #5 well and resource estimate for the Atzam Field.

Atzam #5 drilling success indicates upside potential

The Atzam #5 well being drilled close to the structural high of the Atzam Oil Field was confirmed through the intersected depths of primary reservoir sections in drilling operations. On completion of the Atzam #5 well at its TD is running approximately 66 feet high on structure to the Atzam #4 well and approximately 320 feet high to the Atzam #2 well. The Atzam #4 well was previously expected to be sitting on the crest of the Atzam structure and the Atzam #2 well recorded initial flow rates of in excess of 1,000 bopd from the primary C18/19 carbonate sections.

15 Jul Cantor... 3.70 Buy

Acquisitions underline growing interest and potential for small caps in Trinidad

By Jamie Ashcroft

July 17 2014, 3:44pm
Two acquisitions in two days in Trinidad has underlined the growing level of interest and potential for oil and gas companies on and round the Caribbean island.
Two acquisitions in two days in Trinidad has underlined the growing level of interest and potential for oil and gas companies on and round the Caribbean island.


Two acquisitions in two days in Trinidad has underlined the growing level of interest and potential for oil and gas companies on and round the Caribbean island.

Trinidad already has a well-established history of oil and gas production, with considerable supporting infrastructure including material refining capacity (about 160,000 barrels per day) and modern liquefied natural gas export facilities.

Indeed, with daily production in the order of 4.2bn cubic per day Trinidad is a significant gas player in the global market.

International oil and gas majors such as BP, BG, Centrica, Sinopec and Repsol all have a presence on the island. It is certainly not a virgin exploration frontier.

Like many maturing hydrocarbon postcodes, such as the North Sea or Nigeria, the typical emphasis here for small caps is on marginal or stranded discoveries and the re-generation of existing fields.

The former is a focus of Trinity (LON:TRIN), which has just acquired four discoveries from Centrica, while Leni Gas & Oil (LON:LGO) has pursued the re-development route with marked success.

Buying an 80% stake in Blocks 1a and 1b for US$23mln, Trinity is adding 268bn cubic feet of gas reserves in fully-appraised discoveries.

Six wells have already been drilled on the property and approximately US$220mln has been spent on the project by previous owners, and with excess demand for gas in Trinidad’s domestic market, Trinity believes the project's risks are minimal.

First production is anticipated in 2017 to 2018. To do that it will first aim to deliver a field development plan and a secure a gas sales agreement in the next twelve to eighteen months.

In the meantime, from its existing assets, Trinity expects to produce between 3,800 to 4,500 barrels per day – conservatively today the group said it would likely be at the lower end of the range.

Elsewhere, Leni’s Gas & Oil’s shares have enjoyed a near four-fold rise in the year to date as it first renovated the Goudron field’s old wells to increase production from around 30 barrels per day to over 450 barrels per day, before embarking on a programme of new drilling.

Results from the early wells in a thirty well programme suggest Leni will substantially eclipse current production levels.

The first new well, drilled with modern methods, had initial rates of 240 barrels a day, almost three times some pre-drill forecasts.

Currently the operation is focused on the third well, located at a nearby drill site, and results available to date have been similarly impressive.

With an extra rig due to join the campaign, Leni will be very busy at Goudron.

Nevertheless, that has not stopped the company adding another, similar, leg to the strategy with a deal this week to acquire the Trinity-Inniss field.

Here, oil is already flowing at a rate of 150 barrels a day from 24 active wells, and a number of ‘workover’ candidates have been identified to quickly boost those numbers. It is anticipated that Leni will follow a blueprint similar to Goudron here.

The field currently has 65mln barrels of oil reserves, and the upside is estimated at around 200mln barrels.

A £7mln funding announced by Leni today will help fund the acquisition, as well as supporting a programme of work-overs with a rig expected to be sent from Goudron to Trinity-Inniss once the deal is complete.

Range Resources (LON:RRL, ASX:RRS) is another oil junior favouring both the literal and figurative blue-sky in Trinidad.

Gone along with the previous management is the pre-occupation with the speculative. In its place is a laser focus on its assets on the island and doubling production by the year-end to 1,000 barrels of oil a day from the Morne Diablo, South Quarry and Beach Marcelle licences acquired in 2011.

It is very much an incremental cash-flow play with rapid, low cost shallow drilling - each well can take 10 days to drill and production can come just a week later.

As each well is forecast to produce a 20-75 barrels per day initially, before declining, the metrics appear modest, though due to the low cost and quick capital repayment, Range view the economics as attractive.

As many as 175 well locations have already been identified as targets for the next three years of drilling, and with 12 rigs of its own on the island, Range can progress this work with little fuss.

The initial target here is 1,000 barrels of production per day, but in the slightly longer term output in the order of 2,500 is potentially achievable.

Of course, if all are successful, rather than having three small companies it may make economic sense just to have one large Trinidad-focused entity and indeed that may turn out to be the end game for all of the participants.

Close on 5 billion shares now.


Change of Company Secretary,Registered Office &...

PRNW



Range Resources Limited
(`Range' or `the Company')

21 July 2014

ASX Code: RRS

AIM Code: RRL


Company Secretary Appointment/ Resignation, Change of Registered Address and
Appendix 3B

In accordance with ASX Listing Rule 3.16.1 Range Resources Limited (ASX: RRS
AIM: RRL) advises that Ms Amy Just has been appointed to the role of Joint
Company Secretary effective 21 July 2014.

Ms Just replaces Ms Sara Kelly as Joint Company Secretary. The Company would
like to thank Ms Kelly for her services over the period she has been Company
Secretary.

The Company would also like to announce the change of registered office to 945
Wellington St, West Perth WA 6005, Australia.

In addition the Company announces that 443,614,813 Ordinary Shares, 161,472,247
Unlisted Options (£0.01, 14 July 2018) and 118,729,593 Unlisted Options (£0.02,
14 July 2018) have been issued, details of the issue are below;

356,188,780 Ordinary Fully Paid Shares issued as per agreement with Abraham
(previous RNS dated 15 May 2014 and as approved by shareholders at the General
Meeting on 11 July 2014).

39,298,700 Ordinary Fully Paid Shares issued in respect of fees due to lenders
upon final settlement of debt agreements (previous RNS dated 3 June 2014)

10,000,000 Ordinary Fully Paid issued in respect of fees due to lenders upon
final settlement of debt agreements (previous RNS dated 3 June 2014)

7,500,000 Ordinary Fully Paid Shares issued for consulting fees as per
agreement

30,627,333 Ordinary Fully Paid shares issued on the exercise of options

118,729,593 Unlisted Options (£0.01, 14 July 2018) issued as per agreement with
Abraham (previous RNS dated 15 May 2014 and as approved by shareholders at the
General Meeting on 11 July 2014)

118,729,593 Unlisted Options (£0.02, 14 July 2018) issued as per agreement with
Abraham (previous RNS dated 15 May 2014 and as approved by shareholders at the
General Meeting on 11 July 2014)

42,742,654 Unlisted Options (£0.01, 14 July 2018) issued as per advisor fees
payable relating to the Abraham transaction.

Following the above the Company's issued ordinary share capital will be
4,964,816,681 ordinary shares.

Application has been made to the London Stock Exchange for the New Ordinary
Shares, which rank pari passu with the Company's existing issued ordinary
shares, to be admitted to trading on AIM. Dealings are expected to commence on
28 July 2014.

The above figure of 4,964,816,681 may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company, under the FSA's Disclosure and Transparency
Rules.

Please see Appendix A for the total number of securities on issue.

Yours faithfully


Rory Scott Russell

Chief Executive Officer

Quarterly Report

International Petroleum Loan Update

Summary of above:

StockMarketWire.com
Range Resources has signed a settlement agreement with International Petroleum with respect to repayment of Range's $8m loan by International Petroleum Ltd (IOP).

As part of a proposed merger in 2013, Range lent $8m to IOP under a A$15m loan agreement. The proposed merger was aborted in H2 2013 and the loan was due to have been repaid with interest on 30 April 2014. Due to IOP's financial constraints, it has been unable to repay the loan to date.

Range has agreed to extend the loan repayment date to 30 November 2014 to allow IOP to complete the sale of its Russian assets.

Upon conclusion of the sale, and according to the settlement agreement, IOP will make a cash repayment of $500,000 to Range and all other outstanding monies will convert into ordinary shares of IOP.

Following conversion, Range is expected to hold about 9% of the enlarged share capital of IOP. In addition, IOP will issue 5 million IOP options to Range exercisable at $0.06 in 24 months from issue date.

IOP is listed on the National Stock Exchange of Australia (NSX) and had a market capitalisation of AUD 71 million prior to suspension of trading in H1 2013. The securities of IOP are expected to be restored to trading on the NSX upon completion of the Russian assets sale and settlement of IOP's creditors, including Range.

The loan settlement remains conditional on IOP's shareholder approval on or before 30 October 2014 and agreement from other loan creditors of IOP to extend repayment of their debt on similar terms.

Broker spotlight - Meanwhile, broker Cantor Fitzgerald is upbeat on London and Aussie listed oil firm Range Resources (LON:RRL) today, rating it a 'buy', targeting 3.7p.

The firm revealed it was set to draw a line under its US$8mln loan agreement with International Petroleum (IOP).

Range’s management team continues to focus on clearing-up all outstanding issues left by their predecessors and that this solution for IOP recovers as much value from this situation as possible, said the broker.

“With IOP’s market cap at A$71m (prior to the suspension of trading), 9% of the share capital should be worth A$6.4m, but there are still significant milestones to pass (including the sale of assets) until this can be realised.”

Malcy's blog - Range Resources (LON:RRL)

More news today from Range as the restructuring continues, this time it is the long term fallout from the disastrous IOP bid coming back to haunt them. Range have quite correctly decided to try and get something out of this deal that is better than nothing and actually this looks better to me than I was expecting. Knowing that the $8m loan was not going to be repaid - it is already overdue- Range has extended the date to November 2014 at which stage it will hope for $500/- in cash and the rest will be converted into a 9% holding in IOP. In addition there are 5m IOP options exercisable at 6c for 24 months for good measure. This deal is eminently sensible, if IOP is as bust as it looks the loan would have been no good anyway and if it rises like Lazarus then they will capture a good part of the upside. It does however, show us just how much work the new management team has had to do in only six months at the helm for which they should be given a great deal of credit

Resignation of Director

Atzam 5 Well Update

PRNW



15 August 2014

ASX Code: RRS
AIM Code: RRL


Atzam 5 Well Update

Range Resources Limited (`Range' or `the Company')

Range notes the announcement released by Citation Resources Limited (ASX: CTR)
on the Guatemalan Project.

Investors are encouraged to read the full announcement, which can be accessed
at:

http://citationresources.com.au/media/articles/ASX-Announcements/20140815
Atzam-5-Testing-Update-and-Appendix-3B-305/
2014-08-14-Atzam-5-Testing-Update-and-Appendix-3B.pdf

Range has direct and indirect 24% interest in the Guatemalan Project.


Yours faithfully


Rory Scott Russell
Chief Executive Officer

15 August 2014
ASX Announcement
Atzam #5 Testing Program Continuing – Key Intervals Remain To Be Tested

http://citationresources.com.au/media/articles/ASX-Announcements/20140815-Atzam-5-Testing-Update-and-Appendix-3B-305/2014-08-14-Atzam-5-Testing-Update-and-Appendix-3B.pdf

AIM is fundamentally flawed

Perhaps the most important lesson is to recognise that AIM is fundamentally flawed. If a company’s directors wish to lie there are very few genuine safeguards in place to expose this. The Nomad system is a complete contradiction. How on earth are we meant to believe that regulatory overseers will be rigorous in pursuit of their tasks, when the people they are meant to oversee are the same people that pay their fees?

Whoever devised the Nomad system is either one of the most trusting fools ever to have lived or was blindly naive to the nefarious and rapacious ways of the City. The sooner it is scrapped the better.

If you accept the basic truth about AIM, this should hopefully make you aware of the risk that you are lied to on a regular basis, even through RNSs and official “audited” company accounts.

If the directors of a company are caught telling lies or withholding information, ditch the stock

Trust is the rarest, most precious and easily lost commodity on AIM. If the company you own shares in is ever caught telling a lie in official communication or withholding information, you should make a beeline for the exit. Lies of omission are equally bad. If the company refuses to answer difficult questions, there is only one conclusion that can be drawn.

The temptation is to view such instances as “one of those things”. This is a huge mistake. If a company director is caught in a lie, you should be greatly concerned what other nasty untruths might be lurking out there.

Consistently missed operational targets are the biggest warning sign

This applies to far too many companies on AIM, especially in the resource arena.

The implication of consistently missed operational targets has to be one of the biggest blind spots private investors have. When a company repeatedly fails to deliver what it says it will deliver, this should act as a red flag, signalling it’s time to head for the hills.

One of the main reasons why many directors of companies on AIM are quite content to miss targets is they recognise their businesses stand little to no chance of ever being commercial successes. Sadly there are also those listed “businesses”, which are little more than worthless paper selling enterprises, coated in the veneer of respectability afforded by an official stock market listing. In both instances directors are quite happy to string shareholders along for as long as possible, while enriching themselves at every turn.

Consultancy agreements, dodgy off take arrangements, discounted placements to friends and related parties, option agreements, opaque borrowing facilities, inflated asset purchases, deflated asset sales; there are so many ways to make money out of an AIM stock beyond officially recorded director fees.

You might think this is a conspiracy theory, but consider carefully any stocks you own which have never lived up to expectations and then take a careful look at the number of financial transactions the company has been in and also their complexity. The more transactions there are, the more you should be concerned about the fundamentals your company is based on. This is especially true if the financing arrangements are quite intricate. If it is unclear who the beneficiaries are and how much they stand to gain, the chances are this is not a stock being run in the interests of shareholders.

Appointment of Director

Range Resources closer to loan settlement

By Jamie Ashcroft

September 08 2014, 4:37pm
Range Resources closer to loan settlement

Range Resources (LON:RRL) revealed it has moved closer to settling a loan to International Petroleum (NSX:IOP) after the latter’s shareholders approved a disposal of assets in Russia.

IOP’s shareholders also approved the issue of shares to Range to satisfy the settlement of the loan, and all that is left to clear the matter is the release of the Russia assets to the buyer.

At the same time Range relayed an announcement regarding the Atzam project in Guatemala, where Citation Resources intends to evaluate the potential for commercial oil production via ‘acid wash’ stimulation processes.

Citation will start with an acid wash of the C18 interval in the Atzam 5 well, and if that section cannot produce at commercial volumes the programme will next test C17.

Cantor Fitzgerald Buy 1.56 1.55 3.70 3.70 Reiterates

Range Resources - Cantor pleased with ‘key milestones’ towards loan recovery

By Jamie Ashcroft

September 09 2014, 12:40pm
Cantor repeated a ‘buy’ recommendation and a 3.7p price target after Range yesterday announced that it has moved closer to settling the loan.
Cantor repeated a ‘buy’ recommendation and a 3.7p price target after Range yesterday announced that it has moved closer to settling the loan.


City broker Cantor Fitzgerald said it is pleased that key milestones have been reached in the recovery of Range Resources (LON:RRL) loan to International Petroleum.

Cantor repeated a ‘buy’ recommendation and a 3.7p price target after Range yesterday announced that it has moved closer to settling the loan.

It confirmed in a stock exchange statement that International Petroleum’s shareholders has approved a disposal of assets in Russia and also approved the issue of new shares to Range.

All that is left to clear the matter is the release of the Russia assets to the buyer, Range added.

At the same time Range relayed an announcement regarding the Atzam project in Guatemala, where Citation Resources intends to evaluate the potential for commercial oil production via ‘acid wash’ stimulation processes.

Citation will start with an acid wash of the C18 interval in the Atzam 5 well, and if that section cannot produce at commercial volumes the programme will next test C17.

StockMarketWire.com
Range Resources has confirmed that its Annual Financial Report for the year ended 30 June 2014 will be published on Tuesday, 30 September 2014.

Shares suspended.

"pending an announcement". They have found a stack of out of date Tesco food in the fridge which was part of their inventory!

StockMarketWire.com
Range Resources has noted the recent movement in the Company's share price and said that it was aware of related market speculation.

As previously announced, the Company confirms it is continuing to explore various financing options (which may result in financing of up to US$15 million) and will make a separate announcement should any material financing agreement be formally signed.

Portfolio Update

RNS


RNS Number : 8452S

Range Resources Limited

29 September 2014






ASX Code: RRS

AIM Code: RRL

Range Resources Limited ('Range' or 'the Company')



Portfolio Update



Colombia



In line with the previously stated strategy of portfolio rationalisation and the Company's focus on Trinidad, Range has made a strategic decision to refocus its Colombia portfolio to fully-carried positions on three exploration assets, and will not be proceeding with a farm-in option for the PUT-6 block in the Putumayo basin, given the high cost work commitments associated with the block. This strategic exit follows a previously announced withdrawal from PUT-7 block (see announcement on 9 May 2014).

Instead, the Company will focus on its fully-carried 10% interest in three exploration blocks, PUT-5, VMM-7, and VSM-1, following the finalisation of a Joint Operating Agreement ("JOA") with the blocks' operator, Optima Oil Corp ("Optima"), a private oil and gas company (80% interest) and Petro-Caribbean Resources Ltd (10% interest). These interests were secured as a result of having assisted Optima in successfully bidding for these three licences, by Range being a registered operator in Colombia.

These interests will enable Range to maintain a presence in Colombia for future growth, at minimal cost. The three blocks are found in mature basins of the Putumayo and Magdalena Valley and hydrocarbon accumulations are found in the vicinity of each block.

Optima will bear and pay 100% of all costs and expenses incurred up to production under the JOA. The initial exploration term expires in December 2015 during which time 2D seismic and one exploration well needs to be drilled on each block. The operator is currently working towards fulfilling the Phase 1 work programme commitments.

PUT-6 Performance Bond

In 2012, Range provided US$3.48 million cash to secure the issuance of a performance bond in support of the minimum work commitments for the PUT-6 block. This cash is held by a bank in Colombia as collateral for the bond issued in favour of Colombia's National Hydrocarbons Agency (ANH). Given that Range will no longer be pursuing an interest in PUT-6 licence, the Company has decided it is appropriate to write-off this cash along with the investment made to date in the block in the upcoming financial accounts.

Whilst it is disappointing to write-off this cash, it should be considered in light of the substantial commitments significantly in excess of this amount which would have been incurred should Range have elected to earn the farm-in option through funding the required work programme for the block.

Puntland Offshore

Given the Company's strategic focus on onshore assets, the Company will not be pursuing any formal agreements relating to potential offshore blocks in Puntland. This doesn't change the Company's strategy in respect of its 20% non-operated onshore interests, which Range intends to continue to hold.

Rory Scott Russell, CEO, commented:



"To minimise our cost exposure on all fronts, we have taken pragmatic steps to exit our position in PUT-6 and PUT-7 blocks, where the work programme would have been very expensive for Range, so I am particularly pleased that we will maintain our exposure to Colombia at minimal cost.



We are excited to maintain a presence in both the Putumayo and Magdalena Valleys in Colombia with considerable and diverse exploration and appraisal potential. Having a full carry on the three blocks through to production significantly reduces our spending commitments and allows us to benefit from the value created by our local partners.



While our efforts remain focused on our unique position in Trinidad, we continue to review our portfolio to ensure a balance of production, development and selective onshore exploration. With that in mind, the Company will not be pursuing further any entry into the Puntland offshore and any associated high cost, high risk exploration work commitments.



We remain committed however, to our prospective onshore acreage in Puntland, and continue to work with the operator Horn Petroleum Corporation and the authorities to come to an agreement on the timing and level of future activities in this onshore oil exploration project."

ah well
gla

Annual Financial Report

http://www.moneyam.com/action/news/showArticle?id=4894365

Range secures up to US$15 million loan financing


Range secures up to US$15 million loan financing

Range is pleased to announce it has signed a loan agreement for up to US$15 million in medium-term financing with Lind Asset Management, LLC, a New York-based institutional investor managed by the Lind Partners, LLC (together, "Lind").

The proceeds will primarily be used to invest in the Company's rig fleet, accelerate development drilling of the Trinidad portfolio and for general working capital purposes of the Company.

Off 25% not good.

OIL COLUMN - Range Resources chief draws the line here
By Jamie Ashcroft
October 04 2014, 7:00am The US$15mln financing deal unveiled by Range Resources (LON:RRL) will start to put right years of under investment in the company’s Trinidad operations, according to chief executive Rory Scott Russell.

Speaking with Proactive Investors Scott Russell said Tuesday’s results and the financing represents a final line in the sand between Range and what he hopes will be viewed as legacy problems.

“We’re drawing the line here. We had to get everything out there warts and all (the annual results). There’s no more talk of a new beginning after this.”

Scott Russell says steering the company in the months since taking over, in February, has been quite a challenge but now he is confident that the group’s difficulties can be overcome and the business will be able to move forward on a more cost efficient basis.

“Really the problem has simply been years of under investment, something which the secured financing addresses. It is not like we’re trying to drill something that might not exist or having to downgrade reserves or lost a licence or something like that.

“The production target is a few months delayed, mainly because it took longer to find the appropriate financing.

“But, despite the disappointment, the encouraging thing is we’ve got a profitable business here.

“Our Trinidad business was profitable on an EBITDA basis generated positive net operating cash flow, which highlights the underlying strength of our Trinidad business and the potential that exists to grow.

“There are a few profitable AIM businesses out there, and I hope we’ll soon be recognised as being one of them.”

New York based investment group Lind Asset Management is lending Range up to US$15mln, starting with US$10mln which can be added to in about six months’ time. Range will have the option to either repay Lind in either cash or shares, and the repayment amount for full US$15mln loan will total US$18.375mln.

Range also reported a US$65mln loss from continuing operations - it made non-cash write-offs totalling US$24.5mln and revealed US$22mln of finance costs.

The gross loss for the year was US$3.2mln.

Scott Russell expects Range’s rigs will soon be turning around the clock in Trinidad, following the investment into the fleet, and as a result he expects production to ramp up to the 1,000 barrel a day target in the first half of 2015.

Once there, the operation will be approaching something close to optimal performance with improved cost management enhancing cash-flows further.

“Our costs are going to be much slimmer. It is a case of building a strong business. So now, with the financing secured our first priority is to get rigs working to full capacity, and we’ll start improving production.

“What this financing will enable us to do is really kick start production growth now.

“We could’ve gone for bigger numbers [in the financing] and all kinds of different structures, but after we undertook a detailed review of all available options, we firmly believe that this facility is the most appropriate and attractive option for us at this moment in terms.

“It provides the company with flexible, medium-term financing can be repaid at any time and has limited security most importantly with Trinidad remaining unencumbered.

“Our problem was not about oil, we have plenty of oil. It has just been a question of financing. Without enough money we couldn’t really do anything.

“Now it’s all down to the delivery.”

- FIRST PUBLISHED OCTOBER 1 -

US$15 million loan financing completion and Issue of Shares

Range announces that the loan financing agreement of up to US$15 million, signed on 30 September 2014 with Lind Asset Management, LLC ("Lind") has completed today. As previously announced, Range will use the proceeds primarily to invest in the Company's rig fleet and to accelerate development drilling of the Trinidad portfolio.

The Company also advises that following movement in the Company's share price since 30 September 2014, Range and Lind have agreed to amend certain terms of the financing as follows:

· As previously announced, Range has the right to repay the entire facility at any time. If all amounts outstanding are repaid in full within 6 months of closing a reduction to the required repayment amount of US$350,000 will apply.

· In the event of an early repayment in full, Lind retains a right to convert an amount up to a maximum of 25% of the total relevant Tranche into equity at the premium conversion price.

· Tranche 1 drawdown schedule has been amended with US$5 million now funded at closing and the remaining US$5 million to be drawn on a monthly basis over the following 10 months.

· Tranche 2 drawdown schedule totalling US$5 million has also been amended and will now be available on a monthly drawdown basis (from April 2015 as previously announced).

· Total collateral shares remain unchanged, but Range has now issued the full 38million shares at closing.

· The premium conversion price (applicable if Lind chooses to convert after the initial 6 month lock-up period), and the option exercise price have been amended and will now be equal to 130% of the average of the VWAP during the 11 trading days prior to the amended agreement being signed (equal to either A$0.0243 or 1.203p per share).

· During the lock-up period, Repayment Shares on the initial advance would be priced at 92.5% of the average of 3 day VWAP, chosen by Lind, during the 20 trading days prior to each issuance of shares. Post lock-up period, Lind retain the ability to select either that price, or the premium conversion price.

As previously announced, Range will propose appropriate resolutions in respect of this agreement at the upcoming Annual General Meeting in November.

International Petroleum Loan Update

Range advises that further to the Company's announcement on 4 August 2014, all conditions precedent to the settlement of Range's loan have been met.

According to the settlement agreement, International Petroleum Ltd ("IOP") has made a cash payment of US$500,000 to Range and all other outstanding monies have converted into 147,803,270 ordinary shares of IOP. Following conversion, Range holds approximately 9% of the enlarged share capital of IOP. In addition, IOP has issued 5 million unlisted options to Range exercisable at AU$0.06 per option on or before 2 October 2016.

IOP advises Range that its securities are expected to be restored to trading on the National Stock Exchange of Australia ("NSX") within the current quarter.

Quarterly Activities Report For the Period Ended 30 September 2014

Highlights
· Average oil production in Trinidad increased by 7% from previous quarter;
· Revenue increased by 11% from previous quarter;
· Administration costs decreased by 50% from previous quarter;
· Loan financing of up to US$15 million completed;
· Loan settlement agreement signed with International Petroleum;
· Refocused strategy in Colombia - exit from high cost commitments to
fully-carried positions;
· Ian Olson appointed as Non-Executive Director;
· Amy Just appointed as Joint Company Secretary; and
· Graham Lyon appointed as Non-Executive Chairman, effective from the conclusion of AGM in November (announced subsequent to quarter end).

Range signs St Mary's Block licence in Trinidad

Range is pleased to confirm that following the announcement of award on 3 February 2014, the Company has signed the Exploration & Production Licence for the St Mary's Block in Trinidad with the Government of the Republic of Trinidad and Tobago. A signing ceremony was held in Port of Spain on 31 October attended by Senator the Honourable Kevin Ramnarine, Minister of Energy and Energy Affairs.

The Exploration & Production licence is awarded for 25 years should a commercial discovery be made. During the six year period, Range has committed to drilling four exploration wells, shooting of 160 km 2D seismic and 60km2 of 3D seismic, along with various other technical studies. As part of the award, the state oil company Petrotrin is given a 20% carried interest through the exploration work programme commitment.

Range is in final negotiations with regards to the Joint Operating Agreement with Petrotrin and a subsequent announcement will be made when this has been finalised.

St Mary's Block Overview

The 44,731 acre St. Mary's Block was awarded to Range on 3 February 2014 via competitive tender in the Trinidad Onshore Bid Round 2013.

The Block is on trend with highly prospective acreage with multiple plays, and several significant recent onshore discoveries, including the 150 million barrel Penal / Barrackpore field, the 20 million barrel / 0.5 TCF gas condensate Carapal Ridge field and other fields ranging in size between 10 and 25 million barrels of oil. The main reservoir targets identified in St Mary's Block are Pliocene Deltaic sands, Miocene Herrera sands, Cretaceous sands and the source rock itself.

The western part of the Block is adjacent to Range's extensive production infrastructure which could be utilised in the development of any discoveries on this new block.

Range's evaluation of existing seismic and well data has enabled the Company to high-grade a number of areas and the exploration potential of St Mary's will be assessed further through the acquisition and interpretation of new 2D and 3D seismic.

Range signs conditional MOU for US$50 million funding

Range is pleased to announce the signing of a binding Memorandum of Understanding (the "MOU") with Core Capital Management Co., Ltd (the "Investor"), a Chinese-based institutional investor.

Under the terms of the agreement, subject to completion of final due diligence, standard regulatory stock exchange approvals, and any requisite shareholder approvals, the Investor will provide approximately US$20 million in cash to subscribe for Ordinary Fully Paid Shares of the Company ("Share" or "Shares") at a price of £0.01 per Share (the "Subscription"), representing a premium of approximately 26% to the mid-market share price at the close of business on AIM on 31 October 2014 (being the business day immediately prior to this announcement). In addition, the Investor will provide convertible bonds with a total value of approximately US$30 million, which convert at a price of £0.01 per Share, to achieve the full US$50 million commitment.

Upon completion of the initial US$20 million equity investment, it is expected that the Investor will hold approximately 19.99% of the enlarged share capital of the Company. The final number of shares to be issued as part of this investment will be determined at completion to ensure that the Investor does not contravene s606 of the Corporations Act 2001.

The proposed funding may be used to repay existing debt, and accelerate the Company's oil production targets through drilling, secondary recovery and exploration projects in Trinidad. The investment may also be used to fund other potential acquisition opportunities.

Trinidad Operations Update

Range is pleased to provide an update on its Trinidad operations with the following highlights:

· Production continues to increase following successful drilling operations. Since the last reported production figures (30 September 2014) there has been a 5% increase from 564 barrels of oil per day ("bopd") to 592 bopd. This represents nearly a 15% increase in production since January;
· The increase in production is a result of continued development drilling and successful workover operations;
· Two shallow development wells in the Morne Diablo field have been successfully drilled since 30 September 2014, to depths of 807 and 1,111 ft. and are now producing;
· Operations continued without any significant Health, Safety, Security and the Environment (HSSE) incidents;
· STOW (Safe to Work) audit has been successfully completed and final certification from the Trinidad Energy Chamber is expected to be awarded before the end of 2014;
· Work continues with LandOcean on technical studies related to the waterflood projects and the Company remains on track to begin water injection in 2015.

Drilling Rig Fleet
· One rig is being mobilised to its next location in the Morne Diablo field;
· Three other rigs are operational and will recommence drilling subject to final permits from the government;
· Upgrade work continues on rig 8 in preparation for deep drilling;
· One rig remains stacked in long-term maintenance.

Production continues to increase following successful drilling operations. Since the last reported production figures (30 September 2014) there has been a 5% increase from 564 barrels of oil per day ("bopd") to 592 bopd


What more can you say then :-))

Trading Halt Request

Dear Ms Wutete,

Pursuant to ASX Listing Rule 17.1 Range Resources Ltd (ASX: RRS) ("the Company") requests an immediate trading halt of the Company's securities pending the release of an announcement to market regarding an update on the Company's Board composition and funding arrangements.

The Company requests the trading halt until the earlier of commencement of trade on Wednesday, 3 December 2014 or upon the provision of an announcement to the ASX by the Company regarding the above.

The Company is not aware of any reason why the trading halt should not be granted nor of any other information necessary to inform the market about the trading halt.

".....Funding arrangements...." That doesn't sound good.

Director Appointments and Financing Update

Director Appointments

Further to the Company's announcement dated 1 December 2014 and following the changes to the composition of the Company's Board of Directors that were affected at the Annual General Meeting of the Company held 28 November 2014, the Board has resolved to appoint Mr. David Yu Chen and Ms. Juan (Kiki) Wang, the two nominees of Abraham Ltd, to the Board with immediate effect.

These appointments are made pursuant to Abraham's contractual right to appoint up to two Non-Executive Directors to the Board of the Company, arising from the Subscription Agreement entered into with the Company as part of their investment of US$12 million in Range earlier this year (see 15 May 2014 ASX release).

The Company's Board of Directors is now comprised of David Riekie, Ian Olson, David Yu Chen and Juan (Kiki) Wang.

Mr. Chen, 46, is currently the Vice Chairman and President of Hengxing Gold, a Hong Kong Stock Exchange listed gold mining company. He has over 15 years of corporate experience, having served as Chief Executive and Board member for companies listed both on US and Chinese stock markets. He founded Huashan Capital in 2009 to specialise in cross border investment transactions in the resources sector. His investment experience includes the establishment of a listed special purpose acquisition fund and venture capital investments. He has served as an independent director at Zhonglu Group, a Shanghai Stock Exchange listed diversified investment holding company, and serves as a director at SmartLink Ltd, a leading mobile payment service provider in China of which he is a lead investor.

Ms. Wang, 32, is currently an investment manager at Anterra Energy Inc. where she is responsible for Chinese investor liaisons. Prior to joining Anterra she was manager of corporate mergers and acquisitions at Land Ocean Energy Services Co. Ltd. Ms. Wang has a commercial banking background, having previously worked for Deutsche Bank and Bank of East Asia.

See appendix for further information in accordance with Schedule Two (g) of the AIM Rules for Companies.

Financing Update

On 3 November 2014 the Company released an announcement entitled "Range signs conditional MOU for US$50 million funding." The Board has received confirmation that the position of Core Capital Management Co., Ltd ("Core") has not changed since the release of the 3 November 2014 announcement and that Core wish to proceed with a long-term investment of up to US$50 million in the Company ("Proposed Transaction"), subject to the completion of final due diligence.

Given the recent, significant changes in the Company's Board of Directors the Proposed Transaction may not be completed within the timeframe set out in the 3 November 2014 announcement. The Company will advise the market of any further updates as they become available.

Pursuant to the Company's US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), the Company has made an undertaking to Lind that, to the best of its ability and subject to AIM and ASX listing rules, the Company's Shares will not be suspended from trading on either the ASX or AIM market for more than 5 days, commencing from the execution date of the loan facility agreement. In the event the Company's shares are suspended in excess of 5 days Lind may have a right to call the loan in accordance with the default clauses of the loan facility agreement. With the recent AIM suspension, the Company has utilised 2 of the 5 allowed days.

Shares in the Company are expected to resume trading on both ASX and AIM with effect from the lodgement of this announcement.

UPDATE – Range Resources reveals boardroom changes

By Jamie Ashcroft

December 01 2014, 4:45pm
This afternoon Mr David Yu Chen and Ms Juan (Kiki) Wang, the Abraham appointees, were announced as the new additions to the Range board with immediate effect.



--ADDS DETAILS OF ABRAHAM APPOINTMENTS--

Range Resources’ (LON:RRL) shares were suspended Monday after four board members including chief executive Rory Scott Russell were not re-elected at the AGM.

As well as Scott Russell, chairman Graham Lyon, and non-execs Christian Bukovics and Marcus Edwards-Jones failed to be re-elected.

The board then only comprised David Riekie and Ian Olson and as such is not validly constituted under Australian law. Two representatives from the company's largest shareholder, Abraham Limited, are set to join the board.

Trading in the company's shares is expected to resume once these appointments have been finalised and the company is satisfied that its board is of an appropriate size and composition, a statement today said.

This afternoon Mr David Yu Chen and Ms Juan (Kiki) Wang, the Abraham appointees, were announced as the new additions to the Range board with immediate effect.

It was also confirmed by Range that Core Capital Management, which last month agreed to provide US$50mln of funding, has not changed its position and it wishes to proceed with a long term investment into the company, subject to final due diligence.

Range did, however, tell investors that because of the changes to its board that the financing deal may not close within the previously announced timetable.

A move in the right direction this morning.

htTp://www.malcysblog.com/#sthash.Ew4dZ1vY.dpuf

Trading Halt Requested:
Pursuant to ASX Listing Rule 17.1 Range Resources Ltd (ASX: RRS) ("the Company") requests an immediate trading halt of the Company's securities pending the release of an announcement to market regarding material funding and operational developments.

The Company requests the trading halt until the earlier of commencement of trade on Friday, 12 December 2014 or upon the provision of an announcement to the ASX by the Company regarding the above.

The Company is not aware of any reason why the trading halt should not be granted nor of any other information necessary to inform the market about the trading halt.

11/12/2014 3:45pm

TEMPORARY SUSPENSION OF TRADING ON AIM

RANGE RESOURCES LIMITED

At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 11/12/2014 3:45pm, pending an announcement.

Ordinary shares of no par value, fully paid (DI) (B28QX48) (AU000000RRS3)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7894 7000.

Company Update

Company Update

· Secured US$60 million equity based financing from Core Capital to strengthen Range's balance sheet;

· US$50 million credit facility secured for Trinidad waterflood, exploration and development programmes;

· Appointment of Chief Executive Officer and Non-Executive Chairman; and

· Range will fully exploit and develop the potential of the Trinidad assets with the US$110 million total financing package.

http://www.malcysblog.com/

Range Resources

I suspect that this will be the last mention of Range in the blog as with todays announcement the death knell sounds for Range at 0.8p. Last week I suggested that shareholder apathy had handed the company over on a plate and received a torrent of abuse but when the vote was 14%-12% as it appears to have been, then most of the shareholders vicariously signed their own death warrant.

Today sees Core Capital injecting up to $60m into the company in equity and debt which will give them up to 47.4% of the company on conversion. Fellow Chinese service company LandOcean will provide a credit facility for work they will do in Trinidad.

I might be totally wrong here but this looks like a back door takeover at a price that previous management not only would never have agreed to, but were not given the chance to demonstrate could be achieved. I know many holders will say that they did vote at the AGM but the facts say something else altogether, once again be careful what you wish for…

Sale of non-core Texas assets
Range is pleased to announce the signing of a Sale & Purchase Agreement for the disposal of 100% of Range Australia Resources (US) Limited which holds the Company's interests in the East Clarksville and North Chapman Ranch projects in Texas (the "Texas assets") to Citation Resources Limited ("Citation"). Citation is an ASX-listed oil and gas company, which together with Range holds interests in oil production and exploration assets in Guatemala.

The total value of the consideration for the transaction is approximately AU$1.7 million (approximately US$1.4 million), comprised of a AU$500,000 cash payment to Range, a carry on the Guatemalan assets to the value of AU$830,000, a forgiveness on monies owed by Range to Citation to the value of AU$189,000 and 200 million new ordinary shares in Citation Resources (representing a market value of AU$200,000 on valuation as at the last traded price on 22 December 2014).

The deal also releases Range from its imminent spending commitments in Texas, which are estimated at US$0.9 million based on the Operator's Authorisation of Expenditure (AFE).

The strategic focus remains firmly on Range's unique asset position in Trinidad, and rationalising non-core assets. The Company has been actively marketing its assets in Texas for some time and as a result of an asset impairment review completed during the year, the carrying value of the Texas assets was written down to US$1 million. The agreement reached maximises the sale value, and releases Range from imminent spending commitments in both Texas and Guatemala amounting to more than US$1.5 million.

Retaining an equity holding in Citation will allow the Company to benefit from any upside generated by new development drilling in the Texas assets while removing any further spending commitments in the project.

Terms of the sale agreement:
· Citation will pay Range AU$500,000 cash at completion;

· Citation will, on behalf of Range, pay Range's remaining finance carried obligations in relation to the Guatemala Assets which are approximately AU$830,000;

· Citation will waive the current amount owing from Range of AU$189,263, which Range owed as part of the previous expenditure in Guatemala;

· Citation will issue to Range 200 million ordinary Citation shares. Range will receive100 million Citation shares at completion, and a further 100 million Citation shares within eight weeks of completion. Range shall not be permitted to sell any of the first tranche of Citation Shares issued pursuant to the Sale Agreement until 7 February 2015;

· Following the transaction, Range will hold approximately 13% equity in Citation, which in turn provides a 28% direct and indirect interest in the Guatemalan project;

· Range has the right to appoint one Director to the Board of Citation, provided that Range holds a minimum of 100 million Citation shares; and

· Completion under the sale agreement is due to occur within three business days after the signing. The Company will release a separate announcement upon completion.

truly amazing - what was it a 3 or 5 year wait to flog texas - for what - sold for peanuts - incredible
gla

Someone , without naming names should be behind bars for this -

ha ha lol yes

http://www.moneyam.com/action/news/showArticle?id=4950203

Trinidad Update
Range is pleased to provide a Trinidad update with the following highlights:
o Range and LandOcean are finalising proposed plans for extended waterflooding of Range's Trinidad licences, with subsurface studies successfully completed;

o The next key step in the waterflood programme will be commencement of surface studies which will include well integrity surveys and sourcing injection water;

o Forecasts indicate oil production could exceed 3,000 bopd for the Beach Marcelle waterflood project;

o The Company has received all environmental and government approvals to proceed with the Morne Diablo waterflood expansion project;

o Funding for the waterflood projects has been secured through US$50 million credit facility with Sinosure (as announced on 11 December);

o Dr. Wang Guohui, a deputy General Manager of LandOcean with over 25 years of experience in oilfield production analysis and management, has been appointed as LandOcean's Head of Trinidad project to complement Range's Trinidad team;

o Following a review of its business plan, Range's Board has determined that the drilling business does not fit with the strategy of the E&P Company and the time and resources will be best spent on efficiently running its upstream assets;

o As a result, Range has agreed to sell its Drilling Services Company in Trinidad for total cash consideration of US$7.2 million and these proceeds will be invested primarily into development of our core Trinidad assets; and

o The Drilling Services Company will continue to provide full oilfield operations services to Range in Trinidad, to accelerate Range's planned development and exploration drilling programmes.

looks to be a similar set up now as LGO.

Company Update

Only bit of interest? -

"Lind Financing Update

As announced on 11 December, pursuant to the Company's US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), the Company has made an undertaking to Lind that, to the best of its ability and subject to AIM and ASX listing rules, the Company's Shares will not be suspended from trading on either the ASX or AIM market for more than 5 days, commencing from the execution date of the loan facility agreement. With the recent suspension, the Company has fully utilized these allowed days and subsequently provides Lind with certain additional rights under the agreement, including the ability to demand re-payment of the loan. At present, US$5.5 million under the Lind facility has been drawn down in two tranches, US$5 million at completion date (17 October 2014) and US$0.5 million (20 November 2014). Under the facility the company has issued 96,440,891 ordinary fully paid shares (38,000,000 collateral shares issued on 17 October 2014 and 58,440,891 first repayment shares on 18 November 2014). The initial facility has a face value of US$7.25 million.

To date, the Company has not received any demand notification to call the loan in accordance with the default provisions. Range is currently in discussions with Lind however, there remains uncertainty on the outcome of such discussions and at present the Board has yet to receive sufficient comfort that Lind will not issue a demand for repayment in the short term. Given the uncertainty over the Company's financial position should such a demand for repayment be made, the Company will remain in suspension until such time as an agreement is reached with Lind, or the Company has sufficient alternative financing to repay the Lind facility in full."

Company Update
RNS
RNS Number : 1872C
Range Resources Limited
14 January 2015



Company Update



Lind Financing Update



Further to the Company's announcement on 7 January 2015, regarding US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), Range has now received a letter from Lind seeking repayment of the full outstanding amount under the facility no later than 15 January 2015. The initial facility has a face value of US$7.25 million.



Range has communicated to Lind that it wishes to repay the facility in cash and intends on using the Core Capital financing to meet such final repayment.



Management intends to submit a settlement proposal to Lind by 15 January 2015 for their consideration. The Company's shares will remain in trading suspension until such time as an agreement is reached with Lind, or the Company has sufficient alternative financing to repay the Lind facility in full.



Update on Asset Sales



Further to the Company's previous announcement, Range has yet to receive any sales proceeds in respect of the Texas asset disposal. Range is in dialogue with Citation Resources Limited (ASX: CTR) to agree a revised timetable for completion.



Separately, Range has yet to receive any sales proceeds and has been informed by LandOcean Petroleum Corp. Ltd ("LandOcean Petroleum") that the sale of Range Resources Drilling Services Limited remains on track to complete on or before 30 January 2015, as previously announced.



Range will update the market accordingly on completion of these asset sales.



Change of Registered Address



The Company would also like to announce the change of registered office to Bennett & Co, Ground Floor, BGC Centre, 28 The Esplanade, Perth Western Australia 6000.

16 January 2015
ASX Code: RRS
AIM Code: RRL
Investor Q&A

http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1301

22 January 2015

Company Presentation

Range advises that today it has published its Company presentation which is available on the Company's website at www.rangeresources.co.uk.

this one is and always has been in the same league as RRR and CHAR, and has had its time of a big and vocal following here

Trinidad Presentation
January 2015


http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1303

Quarterly Activities Report, Appendix 5B

http://www.moneyam.com/action/news/showArticle?id=4969103

Investors Q & A from the company site


http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1308

wow is rrl still trading?!

Hmmmm - Notice of Extraordinary General Meeting

Range Resources outlines case for US$60mln Core Capital funding

By Giles Gwinnett

February 24 2015, 1:28pm
Range Resources' (LON:RRL) board has sent a letter to shareholders urging they vote in favour of a US$60mln funding with Core Capital



Range Resources' (LON:RRL) board has sent a letter to shareholders urging they vote in favour of a US$60mln funding with Core Capital.

Among other factors, it says it will provide the firm with an additional US$50mln facility and allow it to refinance its debt position.

But an independent expert’s report (IER) has described the proposed transaction as 'not fair but reasonable'.

After completing the financing, Chinese investor Core will own 38.4% of the company, while subsequent conversion of the debt would see that stake increase to 47.7%.

Because of this large stake, Range is obliged to hire a third party to give an independent view to shareholders and it hired RSM Bird Cameron to produce the report.

RSM said: "In our opinion, the position of the shareholders of Range if the proposed transaction is approved is more advantageous than the position if it is not approved.

"Therefore, in the absence of any other relevant information and/or a superior offer, we consider that the proposed transaction is reasonable for the shareholders of Range."

The Range board added: “We appreciate the rationale for the calculation of the fairness opinion by RSM, however, we would highlight to Shareholders that the implied valuation using the DCF [discounted cash flow] calculation for the assets assumes that Range is able to finance the development.

“The proposed investment is the cornerstone to unlock the potential of these reserves.

“As RSM highlights, the position of shareholders would be more advantageous if the transaction is approved, as it would provide the company with the required funding to develop the Trinidad assets.”

In Trinidad, the firm said the proceeds would allow work on three existing onshore blocks - Morne Diablo, South Quarry and Beach Marcelle, where Range has reserves of 22.1 million barrels of proven and probable (2P) in well-known reservoirs.

Range has commitments on its existing blocks to drill 34 development wells over the next two years.

The extraordinary general meeting is on March 27.

If the financing with the Chinese investor is not approved, oil group Range must find alternative capital to develop its assets and repay a loan from asset manager Lind, it told shareholders.

Drill firm LandOcean has committed to providing a facility of US$50 million to fund the water-flood programme on Range's Trinidad assets, but this will not be available without additional cash being secured, the firm said.

Range has outstanding debt with Lind with a face value of US$7.25mln, for which it has received a statutory demand for payment.

The funds would allow Range to repay this loan.

Investor Q&A

Lind Financing Update
RNS
RNS Number : 2765H
Range Resources Limited
12 March 2015



Lind Financing Update



Range advises that further to the Company announcement on 18 February 2015, it has lodged an application with the Supreme Court of Western Australia to set aside the statutory demand from Lind Asset Management, LLC. Range will continue to update the market as appropriate.

Half-Yearly Report


Range today releases the half-yearly report for the 6 months ending 31 December 2014, with the following key points:

Corporate:

· New Board and additional management appointed;
· US$60 million equity based financing secured from Core Capital. The transaction is on track to complete on or before 30 April 2015, subject to shareholder approval at the EGM on 27 March 2015;
· US$50 million credit facility arranged for Trinidad waterflood and development programmes (subject to Range paying a security deposit of US$7.5 million);
· Range will fully exploit and develop the potential of the Trinidad assets with the US$110 million total financing package;
· In line with the Company's strategic focus on Trinidad, the Company is looking to rationalise non-core assets of the Company;
· Range agreed to sell its drilling services company in Trinidad which will continue to provide full oilfield operations services to Range. Sale completion is anticipated before the end of March 2015;
· Sale & Purchase Agreement signed for the disposal of non-core Texas assets with completion anticipated before the end of March 2015; and
· Range announced the loan financing agreement of up to US$15 million with Lind Asset Management, LLC (Lind). At present, a total of US$5.5 million under the Lind facility has been drawn down. Subsequent to period end, Range received a statutory demand from Lind demanding repayment of approximately US$7.2 million that Lind alleges is due and payable. Range submitted an application to the Supreme Court of Western Australia to set aside the statutory demand.

Operational:

· The average oil production in Trinidad has decreased by 11% to 545 bopd from 615 bopd in the same period last year. The decrease was mainly a result of lack of drilling activity and poor uptime of the rig fleet, resulting from historical underinvestment, which prevented the Company from running its drilling operations at full capacity;
· Seven development wells were spudded on the Company's Morne Diablo and South Quarry licences. At the date of this announcement, five of those wells were put into production, and two wells to be tested;
· Range continued to make significant progress on the waterflood programmes in Trinidad with LandOcean, with extended waterflooding studies successfully completed;
· Range entered into the second purchase order for the provision of technical services by LandOcean to implement waterflooding plans in Trinidad; and
· Range is finalising proposed exploration programme plans on the Guayaguayare licence, with the first shallow onshore well expected to spud in H1 2015.

Financial:

· Revenues decreased by 34% to US$7.8 million (2013: US$11.8 million), which was due to lower oil production in Trinidad and lower overall oil price. The average realised oil price for the period has decreased by 19% to US$79.2 per barrel (2013: US$97.4 per barrel);

· G&A costs decreased by 13% to US$7.5 million (2013: US$8.6 million), however the management considers these costs to be still too high and is focused on reducing them substantially;

· Range has recognised an impairment charge of US$5 million against its Georgian assets. Range continues to explore options to exit these non-core assets and given the current low oil price environment and the challenging M&A conditions, the management believes that this represents fair value that might be received on any potential disposal;

· The net loss from operations on the assets being sold (Texas and Range Resources Drilling Services Limited) was US$2.5 million; and

· Net loss for the period, therefore, was US$19.9 million (2013: US$19.1 million).

The management remains fully committed on turning the Company around, strengthening the balance sheet, and increasing production and look forward to providing more frequent operational updates to Shareholders. An update on Trinidad operations will be released to the market later this week.

A copy of the full Half-Yearly Report is available on the company's website: www.rangeresources.co.uk.

Range Resources fully committed to turn-around plans

By Jamie Ashcroft

March 16 2015, 9:09am
During the year Range underwent a number of changes, including both board and senior management changes.



Range Resources (LON:RRL) has told investors that its management remains fully committed to turning the company around.

It is working to strengthening the balance sheet and increasing production, the company said.

It said it intends to make to more frequent operational updates for investors in future, with an update of work in Trinidad anticipated later this week.

For now, however, the transitional oil company released its financial result for 2014.

During the year Range underwent a number of changes, including both board and senior management changes.

A funding deal with Chinese investors and other financiers is expected to see a total injection of US$110mln that will allow the company to fully exploit the potential of its assets in Trinidad.

The US$60mln equity element of the funding is said to be on track for completion before April 30, subject to shareholder approval at next month’s EGM.

Range continues its efforts to rationalise non-core assets – it recently agreed to sell its in-house drilling company, and this deal is expected to complete this month. At the same time, it expects to complete the sale of its Texas assets in March as well.

Oil production during 2014 reduced 11% to 545 barrels per day from 615 in 2013. Range said this was due to lack of drilling activity and poor uptime of the rig fleet, a result of historical underi-nvestment.

A total of seven development wells were drilled in 2014, five of which have been brought into production while the other two still await completion.

Range is finalising its plans for an exploration programme for the Guayaguayare licence, and a shallow onshore well is expected to spud in the first half of the current year.

Revenue fell 34% to US$7.8mln as a result of lower production and lower oil prices. At US$79.2 per barrel, Range’s realised oil price for the period was down 19% for the year.

The company cut overheads, with G&A down 13% to US$7.5mln though management believes this is still too high and it is focused on reducing cost substantially.

The company said the business units currently being sold, Texas and Range Resources Drilling Services, had losses of US$2.5mln for the period; it has now recognised a US$5mln impairment against its non-core assets in Georgia.

Net losses for the year totalled US$1.9mln.

Trinidad Operational Update

Range is pleased to provide a Trinidad update with the following highlights:

· Production increased by 23% from the previous month;

· Testing on two wells in the South Quarry field is currently ongoing;

· One further well is drilling ahead in the South Quarry field;

· The sale of Range Resources Drilling Services Limited is on track to complete before the end of the month;

· LandOcean has committed to add four new drilling rigs this year to the existing fleet to be available for drilling from Q3 2015;

· Waterflood preparations are progressing, with the first preferred waterflood project now identified on Beach Marcelle field;

· Waterflood studies have been extended to include further blocks;

· In accordance with the revised internal forecast, management believes the production target of 1,000 bopd will now be achieved during Q4 2015.

Development and exploration programmes

Current production in Trinidad reached 645 barrels of oil per day (bopd) from an average of 525 bopd in the previous month.

During the current quarter, the Company has:

· Completed two new development wells (QU 454 and QU 455) in the South Quarry field to depths of 1,440 ft. and 890 ft. respectively, with testing operations currently ongoing;

· Brought three new development wells in the Morne Diablo field into production (these wells were drilled in the previous quarter), including the QUN 157 well, which is currently flowing at a stabilised rate of 105 bopd on a restricted 5/32" choke from an average perforated depth of 1,300 ft.;

· The QU 456 well spudded and is drilling ahead in the South Quarry field to a target depth of 2,000 ft.;

· Spudding of the first shallow onshore exploration well on the Guayaguayare licence has been postponed to Q2 2015; and

· Range and its strategic partner LandOcean Energy Services Co., Ltd (LandOcean) are progressing with geological and geophysical studies which are aimed at improving operational efficiency, and sub-surface evaluation, in order to reduce risk and increase reward. These studies resulted in a revision of the previous development and exploration drilling programmes. The refined 2015 / 2016 work programme is being finalised and will be announced in the coming weeks.


more....

Please Note - Streaming News is only available to subscribers to the Active Level and above



Completion of Texas Sale
RNS
RNS Number : 2959I
Range Resources Limited
24 March 2015



Completion of Texas Sale



Range is pleased to announce that further to the Company's previous announcements, the sale of its Texas assets to Citation Resources Limited (Citation) has completed.



As part of the sales proceeds Range has received a AU$500,000 cash payment, a carry on the Guatemalan assets to the value of AU$830,000, a forgiveness on monies owed by Range to Citation to the value of AU$189,000 and 200 million new ordinary shares in Citation.



Range also has the right to appoint one Director to the Board of Citation, provided that Range holds a minimum of 100 million Citation shares. Range has not appointed any Director at this time but will keep this option under review.

Investor Q&A

In response to a number of shareholder requests, the Company is pleased to provide its ongoing monthly investor Q&A addressing questions from shareholders, which can be accessed at:

http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1321

No material new financial or operational information will be included in these sessions.

US$60M Financing Update
Range advises that further to the Company's announcement on 1 April 2015, Range has been advised by Core Capital Management Co., Ltd (Core Capital) that it has not yet received all necessary regulatory and government approvals to complete the funding. Under the terms of the funding agreements, completion should occur by 30 April 2015, subject to satisfaction of this remaining condition precedent.

Range is disappointed that the completion has not occurred to date, but has agreed with Core Capital to extend the completion date to 14 May 2015 to enable Core Capital to progress with the receipt of the approvals.

Range continues to closely monitor the progress with Core Capital and will provide a further market update in due course.

Georgia Project Update
Range provides the market with the following update in respect of its interest in the Georgian project.

The Ministry of Energy of Georgia has formally notified the Operator of the Georgian project, Strait Oil & Gas ("SOG": in which Range holds a 45% interest) that the Production Sharing Contract ("PSC") over Block VIb has been terminated. The Ministry cites the non-performance of obligations, specifically the requirement to drill a well in accordance with the stipulated procedure. The penalty to be imposed on SOG by the Ministry is US$1 million, payable immediately.

Range has been a supportive investor in SOG and the Georgia project since 2009 and has invested approximately US$40 million into the project, which is significantly in excess of the original expectation of cost to this point.

As announced on 14 April 2015, subject to all the conditions of the various agreements between the shareholders of SOG which were entered into during 2011 being satisfied, Range would have been required to fund the costs of the second exploration well. However, Range believes that SOG has failed to comply with material terms of the agreements and has notified SOG of a dispute. Range expressly reserves all its legal rights under the agreements.

As previously announced, Georgia is a non-core asset for Range and the Company continues to explore potential disposal options for its interest. However, whilst pursuing a disposal Range will work with the other shareholders of SOG in a constructive manner to achieve a satisfactory outcome for all the parties.

This notification is solely in respect of Block VIb and does not affect the validity of Block VIa.

Hmmm.

Range Resources aims to get shares trading again after financing deal

By Andrew Neil

April 30 2015, 10:31am
Trading in Range shares has been suspended, on the AIM and ASX exchanges, since 11 December.
Trading in Range shares has been suspended, on the AIM and ASX exchanges, since 11 December.


Range Resources (LON:RRL) said it is committed to getting its shares back to the trading floor once it wraps up a financing deal with Chinese investor Core Capital.

Trading in Range shares has been suspended on the AIM and ASX exchanges since 11 December, following the departure of the prior management team and the arrangement the alternative financing.

The Trinidad-focused oil firm told investors on Tuesday that it had agreed with Core Capital to extend the completion date of the US$60mln package to 14 May.

Today, in a quarterly update on its activities, Range confirmed that once the proceeds from the Core Capital funding have been received, it will seek approval from ASX and AIM to resume trading of the company's shares."

During the quarter, Range completed the sale of its assets in Texas to Citation Resources, receiving AU$500,000 in cash and 200mln new Citation shares in the process.

In Trinidad, three new development wells were drilled in the South Quarry field, with one well brought into production and completion operations ongoing on two other wells.

It also brought three new development wells in the Morne Diablo field into production.

Overall - from January to March - Range produced 557bopd in Trinidad, a 6% rise on the previous quarter.

Meanwhile, waterflood preparations are progressing, with the first target to be treated now identified at Beach Marcelle.

Management believes the production target of 1,000 bopd will now be achieved during the fourth quarter of 2015.

Completion of Drilling Services Sale
RNS
RNS Number : 0809M
Range Resources Limited
01 May 2015



Completion of Range Resources Drilling Services Limited Sale



Further to the Company's announcement on 13 April 2015, Range is pleased to advise that the sale of Range Resources Drilling Services Limited (RRDSL) to LandOcean Energy Services Co. Ltd., (LandOcean) has completed.

In accordance with the Sale & Purchase Agreement, Range has received the remaining sale proceeds of US$2.07 million (total received US$4.37 million). Additionally, at the date of completion RRDSL owes Range approximately TT$10 million (US$1.6 million), which is inclusive of a US$0.5 million dividend payment declared by RRDSL and payable to Range. This receivable will be offset against future invoices in respect of drilling services.

As previously announced, RRDSL will continue to provide full oilfield operations services to Range in Trinidad. Range and LandOcean have finalised the Trinidad Drilling Contract agreement, as an extension of the Integrated Master Services Agreement (signed in May 2014) with services to be provided on a turnkey basis and priced in line with market rates in Trinidad, to be reviewed periodically by both parties.

Range is pleased to advise that within the drilling contract LandOcean has agreed to provide extended credit terms of 12 months on drilling related invoices payable to RRDSL. This will ensure that Range is able to accelerate its planned exploration and development programmes in Trinidad, which is critical to grow production. Interest will be payable by Range on any third party costs contained within the invoices at the rate of 10% per annum (being the rate stipulated in the Integrated Master Services Agreement signed in May 2014).

Range and LandOcean have finalised the first 13 development and exploration wells to be drilled in Trinidad this year, with full details to be provided in the Company's operations update in May.

LandOcean has also committed to add four new drilling rigs to the existing fleet this year. The new drilling rig schedule has been amended to provide greater capabilities for Range and RRDSL. The first new drilling rig is now scheduled to arrive in Trinidad in June 2015 and is expected to be available for drilling from August 2015, subject to necessary approvals. The rig has been substituted for a larger rig with drilling capability of 13,000 ft. (4,000 m), instead of 9,800 ft. (3,000 m) as originally planned. This large drilling rig will add significant capability to Range's operations as it will be utilised to drill deeper, previously inaccessible exploration targets on the Company's licences in Trinidad. The other three drilling rigs are expected to arrive in Trinidad during the second half of 2015.

Trinidad Development and Exploration Update

Range is pleased to provide a Trinidad update with the following highlights:

· Average production in Trinidad in May reached 650 barrels of oil per day (bopd) from an average of 617 bopd in the previous month;

· The work programme on the first 13 development and exploration wells to be drilled this year has been finalised;

· Range and LandOcean are also finalising 9 additional development and exploration wells to be drilled as part of the 2015 / 2016 work programme;

· Funding for these wells is available under the extended 12 month credit facility with LandOcean which has enabled Range to commence its exploration and development programmes. In addition, Range is in discussions with Sinosure and LandOcean to finalise the previously announced US$50 million trade financing package;

· All necessary approvals have been received on the first three wells, including an exploration well on the Guayaguayare licence (the Canari North well) and preparations are underway to spud these wells during the current quarter;

· During the current quarter to date, the Company has:

o Initiated testing operations on the QU 454ST development well located in the South Quarry field. This well was drilled to a target depth of 2,000 ft. in the previous quarter. The well encountered potential oil bearing sands in three zones and is currently being tested from the lowest zone;

o Brought into production the QU 455 development well, located in the South Quarry field. This well was drilled to a target depth of 890 ft. in the previous quarter. The well is scheduled for optimisation in the short term; and

o Waiting to perforate the QU 456 development well, located in the South Quarry field, subject to relevant government approvals. This well was drilled to 2,002 ft. in the previous quarter.


more....

Financing Update

Following the Company's announcement on 28 April 2015, Range has been actively engaged with Core Capital Management Co., Ltd (Core Capital) to complete the US$60 million funding. Range regrets to advise that the funding with Core Capital has not completed by the previously agreed deadline of 14 May 2015 and therefore the proposed funding has been terminated. The Directors are very disappointed that Core Capital has not been able to complete the transaction and will consider appropriate action in conjunction with its legal advisers.

more ...blah blah blah

blah blah blah :-))

Letter from the Chairman and Investor Q&A

The Company advises that it has published a Letter from the Chairman to Shareholders and its ongoing investor Q&A addressing questions from shareholders, which can be accessed at:

http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1332

No material new financial or operational information will be included in these publications.

Range Resources finalises work plans for highly prospective St Mary block

By Jamie Ashcroft

May 21 2015, 8:04am

A four well drill programme has to be completed by the end of 2018


Range Resources (LON:RRL) told investors that work programmes and budgets have been finalised for the St Mary’s block, onshore Trinidad.

The asset is described by Range as highly prospective and it spans 181 square kilometres contiguous with the company’s Morne Diablo and Guayaguayare licenses.

A four well drill programme has been committed to, though it doesn’t have to be completed until the end of 2018. Within that deadline Range will also have to shoot both 2D and 3D seismic, and it will also have to complete various technical studies.

Before that, Range will this year audit the existing wells and infrastructure across the field. It will also aim to start an electromagnetic survey and it will prepare environment permitting for the future drill programme.

It will also, this year, begin the tender processes for a rig, equipment and other oilfield services.

Range owns an 80% interest in St Mary’s though state oil firm Petrotrin is ‘carried’ for its 20% stake.

The work programmes detailed today are entirely separate from Range Resources’ planned development drilling in Trinidad, which is being funded by contractor LandOcean and is due to take place this year.

Range signs conditional MOU for up to US$35 million funding

Proposed terms of funding:

Pursuant to the MOU, it is envisaged that under the subscription agreement:

· Sibo will provide the full proceeds of a minimum of US$20 million and up to US$35 million in cash upon signing of the subscription agreement at a subscription price of £0.008 per Share;
· The Shares will be issued in two Tranches:
o Tranche 1 - Range will issue approximately 550 million Shares (representing a value of GB£4.4 million) upon signing of the subscription agreement;
o Tranche 2 - Range will issue the remaining Shares to Sibo for the remaining amount of the investment at the subscription price of £0.008 per Share, subject to requisite shareholder and regulatory approvals being obtained by Range. Range will use reasonable endeavours to ensure this is completed by 30 November 2015. Shareholders will be provided with further details in the meeting documentation for a shareholder meeting to approve Tranche 2 of the transaction in due course;
· Funding is subject to Sibo obtaining requisite government approvals, and, in respect of Tranche 2 of the fundraising, is subject to Range's shareholder and regulatory approvals;
· Upon completion of the initial GB£4.4 million investment, it is expected that Sibo will hold approximately 9.7% of the enlarged share capital of the Company. The final number of Shares to be issued as part of the total investment will be determined upon signing of the subscription agreement. However, based on today's exchange rate, and assuming the maximum amount of the investment is provided and shareholder and regulatory approvals obtained, Sibo would hold approximately 36% of the enlarged share capital of the Company; and
· Once the full proceeds have been received, Sibo may nominate two persons to be appointed as non-executive directors of the Company. These nominee directors will be eligible for re-election at the next Annual General Meeting of the Company.

Trinidad Development Update
RNS
RNS Number : 7296O
Range Resources Limited
31 May 2015

Trinidad Development Update

Range provides the following update with respect to its development programme in Trinidad.

Production overview

The average production in Trinidad in May was 620 barrels of oil per day (bopd).

For the first time in Range's history and despite the challenging oil price environment, the Company has positive operating cashflows across the Group at current levels of production following the sale of the drilling business.

Range strives to be a low cost operator and at a WTI price of US$60 / barrel, the Company is cashflow positive at and above a 510 bopd production level (this figure is before any exploration and development capital expenditure).

Drilling operations

Following the announcement on 13 May 2015, Range has completed drilling the QUN 158 well located on the north flank of the Southern Range anticline on the Morne Diablo field. The QUN 158 well is the first development well of the first 13 development and exploration wells to be drilled this year.

The well was spudded on 15 May 2015 and took 11 days to drill to a target depth of 2,000 ft. The well was drilled by drilling services contractor, Range Resources Drilling Services Limited (RRDSL), using drilling Rig 6.

The QUN 158 well was targeting the relatively under-explored Lower Forest 3 sands, which flowed at a stabilised production rate of 120 bopd in the previously drilled QUN 157 well, located 200 ft. to the South East. The well was also testing a less-explored Upper Cruse formation, which is well-developed in the nearby QUN 120 and QUN 128 wells. During the drilling, the well has encountered good shows of oil and gas from both the Lower Forest and Upper Cruse formations.

However, Range was advised by RRDSL on 26 May 2015 that during drilling operations, as Rig 6 was in the process of pulling out of the hole to log the well, an incident occurred at the area of the mud tank. As a result, all operations on the rig and the QUN 158 well were ceased. Despite no damage being caused to personnel or the drilling rig, operations will not resume until further investigations are undertaken by the authorities. Range estimates these investigations will take a minimum of one month.

Other field operations have not been affected by this incident and they continue as normal. Preparations on the upcoming Canari North exploration well onshore Trinidad are also progressing as planned ahead of an anticipated spud date in June 2015 (as announced on 21 May 2015). This well will be drilled by RRDSL using drilling Rig 8. Range will update the market on commencement of operations.

Of the first 13 development and exploration wells to be drilled this year, 8 wells were planned to be drilled using Rig 6, including the second planned development well in the programme, the MD 249 well. Range is in discussions with its strategic partner LandOcean Energy Services Co., Ltd (LandOcean) with regards to minimising the impact of the rig incident on the planned drilling schedule and will provide further details to the market in due course. The Company believes that the previously announced production target of 1,000 bopd expected to be achieved in Q4 2015 will not be affected.

Having received all necessary approvals to proceed with the first three wells in the programme (the QUN 158, MD 249, and Canari North wells), Range is continuing the process of preparing the final documents for drilling approvals on the remaining 10 wells, which are expected to be submitted in early June. In addition, Range and LandOcean are finalising 9 further development and exploration wells to be drilled as part of the 2015 / 2016 work programme, the details of which the Company expects to announce in due course.

Despite being disappointed by the recent incident, Range management believes it further highlights the importance of the four new drilling rigs to be added to the fleet by LandOcean this year, as these new rigs will be crucial to improving capabilities and limiting the downtime of Range's development and exploration operations. The first new drilling rig is scheduled to arrive in Trinidad in July 2015 and is anticipated to be available for drilling from September 2015, subject to necessary approvals. This large drilling rig with a drilling capability of 13,000 ft. (4,000 m) will be utilised to drill deeper, previously inaccessible exploration targets on the Company's licences in Trinidad. The other three drilling rigs are expected to arrive in Trinidad during the second half of 2015.

In addition, Range provides the following update on the previously drilled South Quarry development wells:

· The QU 454ST well encountered potential oil bearing sands in three zones and is currently being tested from the lowest zone, which is expected to be completed by the end of June;

· The QU 455 well is scheduled for optimisation in June; and

· The QU 456 well has been perforated and testing operations are expected to be completed in June.



Electromagnetic Surveying (Stratagem)

The Company has commenced Electromagnetic Surveying in the Morne Diablo and South Quarry fields. This technology will be used to image shallow resistive bodies and identify possible oil reservoirs at depths of 1,000 ft. or less, thus reducing exploration and development risks at a relatively low cost with minimal environmental impact.



Qualified Person's Statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and signed off by Dr Douglas Field. Dr Field is a petroleum and reservoir engineer who is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a PhD in Organic Chemistry.

Completion of funding and issue of shares

Not many shares issued then. Range has now 5,767,169,188. Near on 6 billion shares.

Range expects trading to resume on AIM on Monday June 8.

Range Resources tops AIM risers as trading resumes


June 08 2015, 10:00am

The Trinidad oil and gas firm clarified its financial position on Friday, after receiving £5mln




Drilling operations are currently underway to expand production




Range Resources (LON:RRL) AIM’s top rising share on Monday morning as trading resumed following a near 6 month hiatus.

The Trinidad oil and gas company on Friday clarified its financial position following the receipt of £5.2mln in cash as part of a recently agreed funding deal with Beijing Sibo Investment Management.

Shares subscribed for by Sibo were priced at 0.8p, a 48% premium to the Range share price back in December. The Chinese investor as a result of the share subscription takes a 11.3% stake in the company.

Sibo agreed in May to provide up to US$35mln of new capital, the remainder of the funding is anticipated to complete in August subject to a number of approvals.

Range is currently advancing an ongoing drill programme in Trinidad and it is expanding its production operations up to a targeted 1,000 barrels per day.

On AIM, Range shares more than doubled in value from the price prior to the suspension of trading in December, and by around 10:00am the oil firm was up 0.42p, 77%, trading at 1p each.

A couple of administrative updates

trends-and-targets/trends-and-targets

Puntland Update

New Drilling Rigs Update

Lind Financing Update

Following the Company's announcement on 2 July 2015 relating to the Lind Asset Management, LLC financing, Range advises that the Supreme Court of Western Australia has made orders in respect of the deadline for payment of the statutory demand for an amount of US$7.225 million.

If no appeal is lodged by Range, the deadline for payment is 24 July 2015. If an appeal is lodged by Range, the deadline for payment would be 31 July 2015, or until further order of the Court.

Range is considering the court decision with its legal advisers, including a proposed appeal of the decision and will update the market upon further developments. In the event of an appeal the Company will seek a further extension of time to pay the demand pending the appeal hearing.

StockMarketWire.com
Range Resources said the Canari North exploration well, Trinidad, is expected to spud during the week beginning July 27, following the required regulatory approvals, drilling the well on paper (DWOP) meeting and pre-spud meeting with partners, contractors, service providers and regulatory agencies associated with the well.

The Canari North well will be the first exploration well to be drilled by Range in Trinidad, and any success with the well is expected to de-risk the Moruga sub-basin and could result in material potential upside in the Guayaguayare block with multiple follow-on prospects and leads to be tested by further exploration drilling in 2015 / 2016.

Quarterly Activities Report For the Period Ended 30 June 2015

Highlights
· Average oil production of 602 bopd in Trinidad increased by 8% from the previous quarter;
· Preparation work continued with good progress for the drilling of the Canari North exploration well, which is the first shallow onshore well planned on the Guayaguayare PSC licences;
· Range signed an amendment agreement allowing the Company to double its working interest in the Guayaguayare PSCs with any consideration payable being contingent upon a commercial discovery and subsequent production, subject to final government approvals;
· Exploration work programme and budget for 2015 on the St Mary's block has been finalised and is planned to commence in the second half of the year;
· The sale of Range's drilling business to LandOcean completed. LandOcean will add four new drilling rigs to the fleet this year. Manufacturing of all four rigs has been completed. The largest rig will arrive in Trinidad in mid-August, and the other three rigs will arrive in Trinidad in September;
· As a result of the driling business sale and the implementation of other cost reduction measures, the Company has positive operating cashflows across the Group at current levels of production;
· Equity funding package of approximately US$30 million with Sibo signed at a premium to the share price, with final completion subject to shareholder approval at the EGM on 28 August 2015;
· Supplier financing agreed, whereby LandOcean will provide extended credit terms of 12 months on drilling related invoices; and
· In line with the Company's stated strategy of non-core asset rationalisation, Range completed its withdrawal from Puntland and the disposal of its equity holding in Citation Resources Limited.


Production overview

The Company's oil and gas production for the period in Trinidad is as follows:
· 54,770 bbls (average of 602 bopd) net to Range, which is an 8% increase from 557 bopd in the previous quarter. The Company is cashflow positive at current levels of production.




more....

Trinidad Update

Trinidad Operations Update

Production overview

The average production in Trinidad for June and July was 570 barrels of oil per day ("bopd"). The overall production decreased by 8% compared to the last reported production of 620 bopd in May, due to a number of factors, including lack of drilling activity, natural production decline, and electrical outages. Despite the decrease in average production, the Company remains cashflow positive at current levels of production.

The Company believes that the next six months will show substantial improvements in operational performance. The access to additional four brand new drilling rigs during 2H 2015, will be pivotal to improving capabilities and limiting the downtime of Range's development and exploration operations.

Drilling fleet

Following the sale of Range's drilling business in the previous quarter, the drilling business is operated by LandOcean Energy Services Co., Ltd ("LandOcean") and its subsidiaries. As previously announced, LandOcean will be adding four new drilling rigs to its fleet in Trinidad this year. Management is delighted that all four rigs are already on their way to Trinidad.

more....

StockMarketWire.com
Range Resources has finalised the drilling schedule in Trinidad with LandOcean for the next 22 development and exploration wells.

It is expected that the proposed 22 wells will be drilled by the end of the first quarter of next year. However, certain drilling logistics are beyond the company's control and, therefore, the drilling schedule remains subject to a number of variables.

It has been granted permission to construct 15 drilling pads.

Construction of the drilling pads for the wells GY 161S, MD 42N, Canari North, GY 180SE and QUN 158 redrill has been completed. Contracts for land work and construction of the remaining seven locations are currently being negotiated.

The management believes that the 22 well programme presents an ambitious target, given a number of challenges that need to be overcome.

Sibo Funding Update

New Drilling Rig Arrives in Trinidad

Range is pleased to advise that the vessel carrying the first new 4,000 m rig has arrived at the port in Trinidad. This is the largest rig to be added to Range Resources Drilling Services Limited ("RRDSL") drilling fleet this year.

The other three new rigs (with drilling capabilities of 2,000 m, 1,500 m, and 1,000 m) are on route to Trinidad. The vessel carrying the rigs is currently passing the coast off the US and will make a stop in Guatemala before arrival at the port in Trinidad. The rigs are now expected to arrive by the end of September.

The 4000 m rig is expected to be available for drilling from October 2015, and the other three new rigs from November 2015, subject to a number of conditions, including customs clearance, various government and regulatory approvals and availability of suitable drilling staff to operate the rigs.

Following shareholders' queries, the Company wishes to clarify that the Guayaguayare deep commitment well which was not included in the work programme schedule released on 24 August 2015 is expected to be drilled next year. The details including proposed spud date for this well are still being finalised and will be released in due course.

Completion of US$30M Funding and Issue of Shares

Trinidad Operations Update

Annual Financial report

http://www.moneyam.com/action/news/showArticle?id=5122726

Last para from The Chairman:
"The creation of long-term value for our shareholders remains the fundamental driver of everything we do and we look forward to demonstrating this as we develop our ambitious plans and achieve our goals. With the Company's highly prospective licences, drilling underway, and funding in place, I believe the Company is well positioned for future success by growing production and reserves, and transforming Range into a significant oil producing company, which is not yet reflected in today's share price."

might not be reflected in the share price but it's sure reflected in the market cap!

Perhaps he meant pre dilution and dilution and dilution and dilution and dilution and ...........

Trinidad drilling operations update

Trinidad further drilling update:

http://www.moneyam.com/action/news/showArticle?id=5143726

Trinidad Drilling Update and New Rigs Arrival

Trinidad Operations Update
RNS
RNS Number : 8144H
Range Resources Limited
02 December 2015



Trinidad Operations Update

Drilling programme

Range is pleased to advise that the third development well of the 22 well programme, the GY 161 S well spudded on 27 November 2015 and is drilling ahead to a total depth of 2,000 ft. It is expected to take approximately 21 days to reach target depth. The GY 161 S well is the second development well to be drilled by the Company on its Beach Marcelle field. Depending on results, the well may be used as part of a waterflood pattern in the future.

The drilling services are being provided by Range Resources Drilling Services Limited ("RRDSL"), a wholly owned subsidiary of LandOcean Energy Services Co., Ltd. The well is being drilled using rig 2.

The 180SE was the first well drilled on the Beach Marcelle block earlier in November. The log evaluation has been completed and the results are encouraging. A total of 72 ft. of net oil sand has been encountered and the Company is looking to submit for approval to perforate the well.

Approvals received for Morne Diablo waterflood expansion

The Company is delighted to announce that it has received all necessary government and regulatory approvals for the Morne Diablo waterflood expansion programme.

As previously announced, the Company has a pilot waterflood in place, which was established to obtain data and test operational and reservoir parameters to aid in the planning of the larger expansion model. Given success of the pilot scheme, the larger scale expansion in the Shallow Forest horizon is underway. The original oil-in-place in the expansion area is estimated by Range to be approximately 6.5 mmbbls, of which 1.35 mmbbls (21%) has been produced by primary depletion. Studies indicate that this plan could produce another 1.15 mmbbls (18%).

Initial water injection is expected to commence during the current month and first production is expected in 2H 2016.

As previously announced, the Company also applied for the required government approvals for Beach Marcelle waterflood and expects to receive these shortly.

CPR statement

In Accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Dr Douglas Field. Dr Field is a petroleum and reservoir engineer who is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a PhD in Organic Chemistry. Dr Field is a member of the SPE (Society of Petroleum Engineers) and the PESGB (Petroleum Exploration Society of Great Britain). The reserves information in this announcement has been prepared in accordance with the guidelines of the Society of Petroleum Engineers (SPE).

Glossary

Original oil in place is that quantity of petroleum that is estimated to exist originally in naturally occurring accumulations. It includes that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production plus those estimated quantities in accumulations yet to be discovered.

Questions and answers

StockMarketWire.com
Range Resources has provided an update on its operations in Trinidad. Highlights are as follows:

* Approvals for the implementation of the Beach Marcelle waterflood project have been received;

* 12 wells have been approved for conversion to water injectors on the Morne Diablo waterflood project. Initial water injection has commenced;

* Third development well of the 22 well programme has reached its total depth with a total of 130 ft. of net oil sand encountered and the well Is being tested; and

* In addition, a new upper zone on the existing QUN 47 well has been perforated, with the well flowing a stabilized rate of 50 bopd from this new zone.

StockMarketWire.com
Range Resources advises it has received a notice from Agencia Nacional de Hidrocarburos (ANH), National Hydrocarbons Agency of Colombia, which states that the licences over the three exploration blocks, PUT-5, VMM-7, and VSM-1 have been revoked.

The licences were awarded to a consortium of Optima Oil Corporation ("Optima") and the Company in December 2012.

ANH alleges that this is a result of the exploration work commitments not being fulfilled and presentation of invalid letters of credit by Optima.

The aggregate value of the exploration work commitments for the three licences amounts to approximately US$53 million. Under the terms of the Joint Operating Agreement ("JOA") between the consortium parties, it is the sole responsibility of Optima to complete the work commitments and provide all necessary letters of credit.

Both the Company and the consortium are obtaining legal advice with regard to this matter and it is currently anticipated that the consortium will lodge an appeal against the decision. The Company will update shareholders as appropriate.

Colombia is a non-core asset and Range had nil value attributed towards its interest in the three blocks on its balance sheet as at 30 June 2015. Under the JOA, Range has a 10% fully carried interest with other parties being Optima (80%) and Petro Caribbean Resources Ltd. (10%).

New well spuds in Trinidad
Range is pleased to advise that approval for the new 4,000 m drilling rig has been granted to RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd). Subsequently, the MD 51-1 development well (renamed MD 250 well) successfully spudded on 10 March 2016 using the rig. The well is drilling ahead to a total depth of 4,150 feet and is expected to take four to five weeks to reach target depth.

The MD 250 well is the first development well to be drilled using one of RRDSL's new rigs. The well will test deeper horizons of the Upper and Middle Cruse sand trends and explore the potential of out-step drilling. MD 250 is a directional well from the previously drilled MD 248 well location.

The Upper Cruse sands, though penetrated by numerous surrounding wells, have not been fully exploited in this area of the Morne Diablo field. The Middle Cruse sands have been identified as well-developed in nearby wells with some of those having produced in excess of 100,000 barrels from this horizon during the well life.

As previously announced, RRDSL successfully completed construction of a three-cellar drilling pad during 2015. Initially, the MD 250 well will be drilled from the drilling pad. Drilling of further wells from the drilling pad will be evaluated dependent on the results from this well.

Further three new drilling rigs of RRDSL are currently undergoing certification and will be brought into drilling operations once approved.

StockMarketWire.com
Range Resources has widened its H1 pretax loss from continuing operations to USD24.3m, from USD13.1m. Revenue was USD4.3m, from USD7.8m. It was fully funded for its upcoming exploration, development and waterflood programme.

OPERATIONAL HIGHLIGHTS:
* The average oil production in Trinidad of 561 bopd was broadly unchanged from 545 bopd from the same period last year;

* The Company published updated reserves statement (1P of 19.4 mmbbls; 2P of 22.0 mmbbls and 3P of 27.6 mmbbls);

* Significant progress on the waterflood programmes continued with approvals for Morne Diablo and Beach Marcelle projects received. The Company identified implementation of these projects as the highest priority;

* Water injection on Morne Diablo project underway and expected to commence on Beach Marcelle during Q2 2016;

* Three development wells successfully drilled and put on production. The Company plans to drill a number of additional high impact wells onshore Trinidad during 2016; and

* Exploration work on the St Mary's and Guayaguayare licences continued, including preparations for spudding of the Canari North exploration well.

StockMarketWire.com
Range Resources said the MD 250 development well in Trinidad was successfully drilled to a total depth of 4100 feet by March 28.

During drilling, hydrocarbon sands and oil shows were encountered at depths of 1,350 ft. and between 3,500-3,600 ft. with an estimated net pay of over 100 ft.

Log evaluations are currently underway. The well is proposed to be completed using 5 1/2" casing string and cemented to surface, after which individual geologic targets will be selectively perforated and tested, pending approvals from the regulatory bodies.

This is the first of the five well drilling programme which Range has planned for 2016. The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block.

Multiple hydrocarbon zones identified on MD 250

RNS


RNS Number : 9979U

Range Resources Limited

12 April 2016




Multiple hydrocarbon zones identified on the MD 250 well

Highlights:

· Multiple hydrocarbon bearing zones have been identified following initial log evaluations on the MD 250 well;

· Four lower zone intervals will be perforated and tested first, with an estimated net pay of over 40 feet;

· Other promising multiple intervals located in the middle and upper zones of the well will be tested thereafter, with an estimated net pay of over 100 feet; and

· RRDSL's additional three new drilling rigs are undergoing certification, expected to be received during the current quarter.

Range is pleased to announce that initial log evaluations on the MD 250 development well in Trinidad are highly encouraging with multiple hydrocarbon bearing zones identified, which will now be tested to determine the well's producing potential.

The Company will commence a production testing programme by perforating and testing four sand intervals located in the lower zone of the well between 3,350 and 3,900 feet with an estimated net pay of over 40 feet. The relevant approvals have been submitted to the regulatory bodies in Trinidad.

Once testing on the lower zone has been completed, the Company plans to test further multiple promising intervals of the well, located in the middle and upper zone of the well between 1,350 and 2,700 feet, with an estimated net pay of over 100 feet, pending approvals from the regulatory bodies in Trinidad.

The MD 250 well was drilled to a total depth of 4,100 feet, significantly ahead of the expected drilling schedule and was completed using a 5 1/2" casing string and cemented to surface. This is the first well to be drilled using RRDSL's (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) new 4,000 m rig.

As previously announced, during 2015 RRDSL successfully completed construction of a three-cellar drilling pad on the location. Once production testing on the MD 250 well has been completed, the Company will evaluate the possibility of drilling any follow on wells from the drilling pad dependent on the results from this well. As a standard practice and in line with safety requirements, production operations on a pad area are performed after the drilling of all the wells on that pad is completed. Therefore, if the Company decides to drill follow on wells from the drilling pad, all wells will be brought into production only once all drilling operations on the pad are completed.

RRDSL's further three new drilling rigs are undergoing certification and will be brought into drilling operations once approved. As advised by RRDSL, approvals are expected to be received during the current quarter.

Competent Person statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Dr Douglas Field. Dr Field is a petroleum and reservoir engineer who is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a PhD in Organic Chemistry. Dr Field is a member of the SPE (Society of Petroleum Engineers) and the PESGB (Petroleum Exploration Society of Great Britain).

Glossary

Net pay is a reservoir or portion of a reservoir formation that contains economically producible hydrocarbons. The overall interval in which pay sections occur is the gross pay; the portion of the gross pay that meets specific criteria such as minimum porosity, permeability and hydrocarbon saturation are termed net pay.

StockMarketWire.com
Range Resources has signed an agreement with the Petroleum Company of Trinidad and Tobago Ltd to reduce the overriding royalty rates (ORRs) on its producing Morne Diablo, Beach Marcelle and South Quarry fields.

The revised ORRs will apply when the received oil price is below USD50 a barrel. The changes will be effective from March 16 and will apply retrospectively to sales made from Feb. 1 onwards.

Assuming a WTI price of USD45 a barrel, this change would have minimal net revenue1 benefit to Range at current production levels.

"However, the impact will progressively increase at higher production levels with the net revenue benefit estimated to be approximately 7% at 2,500 bopd, assuming the same oil price," Range said in a statement.

"The reduced ORRs are particularly encouraging for operators like Range who are committed to growing their production in Trinidad over the coming years and are a welcome incentive introduced by Petrotrin during this period of sustained lower commodity prices."

Range also notes the comments by the Honourable Colm Imbert, the Minister of Finance of Trinidad and Tobago, in the 2016 Mid-Year Budget Review held on 8 April, 2016 that the Government intends to review the level of Supplemental Petroleum Tax (SPT) on crude oil prices moderately higher than US$50 per barrel.

This review is anticipated to be completed by September 2016.

StockMarketWire.com
Range Resources has reached a binding agreement with Lind Asset Management to settle all outstanding claims and disputes between the parties, allowing it to draw a line under this long-running dispute.

"As previously announced, Lind initiated legal action in New South Wales Supreme Court seeking payment of approximately USD600,000 in respect of interest and legal costs. Lind also sought other damages for breach of contract," it said in a statement.

Range filed a defence against the claims and a cross-claim for damages.

Under the terms of the settlement agreement, Range has made a payment to Lind of USD325,000 and Lind will retain the beneficial ownership of the 38 million collateral shares which were issued by Range in 2014 as part of the original funding agreement.

StockMarketWire.com
Range Resources said its voluntary suspension on ASX will not affect its share trading on AIM.

Range is in the process of appointing an Australian resident director, as a result of David Chen ceasing to be an Australian resident, as part of the requirements under Australian Corporations Act and ASX Listing rules.

The Company requested the voluntary suspension on ASX to be in place until it releases an announcement regarding the new appointment, and expects to make the announcement before the commencement of trading on Monday, 6 June 2016.

Beach Marcelle Waterflood Commences

RNS


RNS Number : 6254Z

Range Resources Limited

30 May 2016




Beach Marcelle Waterflood Commences

The Company is pleased to provide an update on its waterflood projects in Trinidad with the following highlights:

· Injection on the flagship Beach Marcelle waterflood project has commenced;

· Two injector wells are being used to inject water, at an average initial rate of approximately 600 bwpd, which will gradually increase as additional wells and surface facilities are commissioned;

· Waterflood injection on the Morne Diablo project is continuing, with water rates increased to the maximum volume of water currently available;

· Agreement reached with Petrotrin to access additional water supply for Morne Diablo project with contracts to be signed shortly; and

· Waterflood projects will be key contributors to the Company's production growth over the coming years.



Beach Marcelle Waterflood - South East Block

The project implementation on the South East block of Beach Marcelle field has been successfully progressing over the last months. As a result, initial water injection has commenced, on schedule with the previously anticipated timelines.

The waterflood pattern on the block comprises 10 injector and 15 producer wells. The selected wells are undergoing workover operations using two workover rigs, with five wells completed as injectors and four as producers to date.

Two injector wells are currently being used to inject water, at an average initial rate of approximately 600 barrels of water per day ("bwpd"). In line with the planned implementation programme, injection volumes will be low at first, gradually increasing as additional wells and surface facilities are commissioned. Injected water is expected to be available from shallow aquifer wells (water source wells). The selected water source wells are also currently undergoing workover operations.

The first production as a result of waterflooding is anticipated during Q1 2017. The average production over the 8-year period is expected to be approximately 1,600 bopd, with production estimated over the plateau period of three years of 2,000 bopd.

The original oil-in-place in the South East block is estimated by the Company at 37.5 mmbbls, of which 6.2 mmbbls (17%) has been produced by primary depletion. Waterflooding is estimated by the Company to recover another 4.8 mmbbls over the next 8 years.

Morne Diablo Waterflood - Expansion Project

As previously announced, the initial water injection on the project commenced in December 2015.

The waterflood plan involves the use of up to 14 injectors and 14 producers. Four injector wells are currently being used to inject water. The water injection has been increased from 150 bwpd to 250 bwpd, which is the maximum volume of water available at present from Range's production wells.

To get access to additional water source supply, Range has been negotiating with Petrotrin to use produced water from Petrotrin's existing operations, which will increase water injection by 3,000 bwpd. The Company is pleased to advise that the agreement with Petrotrin has been reached and expects to sign the contract shortly.

The Company will be constructing a new water pipeline to connect Morne Diablo field to Petrotrin's water treatment facility. The environmental approvals for use of the additional water and construction of the new water pipeline have been submitted to the regulatory body in Trinidad.

The average production over the 8-year period is expected to be approximately 200 bopd, and is forecast to be achieved when water injection is increased to approximately 3,000 bwpd.

The original oil-in-place in the expansion area is estimated at 6.5 million barrels of oil (mmbbls), of which 1.3 mmbbls (20%) has been produced by primary depletion. Waterflooding is estimated by the Company to recover another 0.6 mmbbls over the next 8 years.

Additional Waterflooding Areas

The Company has identified additional areas around the previously drilled development wells in the South Quarry and Morne Diablo fields, which could be suitable for waterflooding. The Company will continue to evaluate these areas and study the field for waterflooding potential. If deemed economically feasible, Range will proceed with the relevant approvals to implement these projects.

As previously advised, Range and LandOcean are continuing to progress with finalising the terms for the US$50 million trade financing package with Sinosure. Pending completion of the Sinosure facility, LandOcean will provide Range with credit terms of 720 days for all work undertaken as part of purchase order 2 of US$50 million, including the waterflood programme.

Yan Liu, Range's Chief Executive Officer, commented:

"I am extremely pleased with the commencement of injection on our second waterflood project. Beach Marcelle is the largest waterflood project to be implemented in recent times in Trinidad and the team has been working tirelessly to bring it on line. It will be key to our production growth in the coming years, with first production from this project expected at the beginning of next year.

I look forward to working closely and leading our team during this period of unprecedented operational activity and demonstrating the results to all shareholders."

StockMarketWire.com
Range Resources (RRL) received approval to spud the MD 51-2 development well, which is expected to spud early next month.

The workover programme on existing wells was reviewed to focus on the most economic wells, while credit terms by LandOcean on drilling services and PO1 were extended by 12 months, to allow the company to repay credit from future cashflows once production ramps up.

It will be a directional well to be drilled to a total depth of 3,900 feet to test the Middle and Upper Cruse sands, which were encountered with the MD 250 well.

Initial log evaluations on the MD 250 development well identified multiple hydrocarbon bearing zones, with an estimated net pay of over 140 feet.

The well will be drilled from the same drilling pad as the MD 250 well, using a 4,000 metre rig. The wellhead is located approximately 20 feet from the MD 250 well and drilling company RRDSL is in the process of moving the rig to the well location.

In line with safety requirements, production testing operations of the MD 250 and MD 51-2 wells will be performed only once all drilling operations on the pad area are completed.

This is the second of the six well drilling programme, which Range has planned for 2016.

The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block.

RRDSL's further three new drilling rigs are pending final approvals from the Ministry of Energy and Energy Industries (MEEI).

Approvals cannot be granted until all documentation on the rigs, as requested by the MEEI, is provided by RRDSL.

RRDSL is working on acquiring the requisite documents for submission to the MEEI. As advised by RRDSL, approvals are expected to be received in Q3 2016.

As part of the company's cost management, Range completed a workover programme review. The company reduced various workovers to focus on the most economic wells.

Range conservatively estimates that five development wells from the 2016 work programme will add approximately 500 barrels of oil per day (bopd) to current production levels by the end of 2016.

Range reiterates its previous production guidance of 2,500 bopd by the end of 2017, with the majority of this production growth to come from waterflood projects.

New well spuds in Trinidad

RNS


RNS Number : 3896E

Range Resources Limited

17 July 2016




New well spuds in Trinidad

Range is pleased to advise that the MD 51-2 development well (renamed MD 251 well) in Trinidad successfully spudded on 15 July 2016. The well is drilling ahead to a total depth of 3,900 feet and is expected to take approximately three weeks to reach target depth.

As previously announced, this will be a directional well to test the Middle and Upper Cruse sands, which were encountered with the MD 250 well. The initial log evaluations on the MD 250 development well identified multiple hydrocarbon bearing zones, with an estimated net pay of over 140 feet.

The well is being drilled by RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) from the same drilling pad as the MD 250 well, using the same 4,000 metre rig. The wellhead of the MD 251 well is located approximately 20 feet from the MD 250 well. In line with safety requirements, production testing operations of the MD 250 and MD 251 wells will be performed once all drilling operations on the pad area are completed.

This is the second of the six well drilling programme which Range has planned for 2016. The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block.

RRDSL's further three new drilling rigs are pending final approvals from the Ministry of Energy and Energy Industries (MEEI), expected to be received during Q3 2016.

Competent Person statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Trinidad Development Drilling Update

RNS


RNS Number : 2510G

Range Resources Limited

04 August 2016




Trinidad Development Drilling Update

Range provides an update on its Trinidad operations with the following highlights:

· MD-251 well successfully reaches target depth ahead of schedule;

· RRDSL-owned rig 18 achieves necessary regulatory and government approvals to commence operations; and

· 3rd development well in the 2016 work programme (LD-1) to spud this month.

Range is pleased to confirm that the MD-251 well which was spudded on 15 July 2016 has reached target depth of 3,900 feet, ahead of the original schedule. Preliminary analysis of the well indicates approximately 60 feet net oil pay in the Middle Cruse sand. Range now intends to proceed with production testing of both the MD-251 and the previously drilled MD-250 wells during this month and anticipates bringing both wells into production during the current calendar quarter.

Range is pleased to advise that RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) has been granted all necessary regulatory and government approvals for rig 18. This is the second of the new drilling rigs which have been added to their drilling fleet and has the capability to drill to a depth of approximately 1,500 metres.

Range has contracted rig 18 to drill the LD-1 well which is the next development plan in the 2016 development drilling programme. The rig is on location and Range has received the required approvals to drill the well from Petrotrin and the Ministry of Energy and Energy Industries. It is currently anticipated that the well will spud later this month.

LD-1 is located at Morne Diablo field and will be drilled to a target depth of 2,500 feet targeting the Lower Forest and Upper Cruse horizons. Range has previously advised that the next well scheduled was to be LD-3; however, this has been replaced in the schedule by LD-1. The LD-1 well will be drilled to the same approximate depth, albeit this is a vertical well (as opposed to the LD-3 well which was a directional well), so it will be drilled at a lower cost and over a shorter period. Range believes that the forecast realised production from the LD-1 well will be broadly similar to that anticipated from LD-3 and the change of well is expected to have no impact on the Company's stated production target.

LD-1 is the third development well to be drilled by Range this year in Trinidad. The remaining scheduled wells include one further development well in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block. A further announcement will be made upon spudding of this well.

Range continues to assist RRDSL in obtaining the necessary certification and approvals for the remaining two new drilling rigs which are anticipated to be received during Q3 2016.





Competent Person statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

New well spuds in Trinidad

RNS


RNS Number : 6294G

Range Resources Limited

09 August 2016




New well spuds in Trinidad

Range is pleased to advise that following the announcement on 4 August 2016, the LD-1 development well (renamed QUN 159 well) in Trinidad successfully spudded on 8 August 2016.

The well is drilling ahead to a total depth of 2,500 feet, expected to take approximately two weeks to reach target depth. It is located at Morne Diablo field and is targeting the Lower Forest and Upper Cruse horizons.

The well is being drilled by RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) using 1,500 metre rig (rig 18), which has recently been granted all necessary regulatory and government approvals.

LD-1 is the third development well drilled by Range in Trinidad this year. The two previously drilled development wells (MD-250 and MD-251) are planned for production testing during this month and are expected to be brought into production during Q3 2016.

The remaining scheduled wells include one development well in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block. Range continues to assist RRDSL in obtaining the necessary certification and approvals for the remaining two new drilling rigs which are anticipated to be received during Q3 2016.



Competent Person statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Trinidad Drilling Update

EQS



Range Resources Limited (RRL)
Trinidad Drilling Update

30-Aug-2016 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.




Trinidad Drilling Update

Range is pleased to confirm that the QUN 159 well which was spudded on 8 August 2016 has reached target depth of 2,500 feet. This is the third development well drilled by Range in Trinidad this year. The well is located at Morne Diablo field and was targeting the Lower Forest and Upper Cruse horizons.

Preliminary analysis of the well indicates approximately 40 feet net oil pay. The programme to perforate the well has been approved by the government and Range intends to proceed with production testing of the well during early September.

Production testing on the two previously drilled development wells (MD 250 and MD 251) is also underway. All three wells are expected to be brought into production during Q3 2016.



Competent Person statement
In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Colombia update
Further to the Company's announcement on 1 September 2016, Range confirms that a comprehensive response was submitted to Agencia Nacional de Hidrocarburos ('ANH') by the consortium, Range and Optima Oil Corp. ('Optima') on 7 September 2016. This response addressed the numerous areas in which Range and the consortium object to the demand which was received from ANH.

Range confirms that it has no material assets located in Colombia and had nil value attributed to its assets in Colombia on its balance sheet as at 31 December 2015.

In addition to the ongoing work with legal advisers in Colombia, Range has sought advice from its Australian advisers regarding the ability of ANH to try and enforce a claim against Range in Australia (where Range is incorporated). The Company's legal advisers confirm that there is no provision in Australian law to enable either judgments of Colombian courts, or administrative orders of ANH to be recognised in Australia. If ANH did seek to make any claim in Australia it would be required to commence court proceedings in the Australian courts and to prove its entitlement to such claim. Range would have the right to defend such claim. To confirm, Range has not received any claim from ANH in Australia.

The Company continues to work with Optima and legal advisers to defend its position to the maximum extent possible and is considering what further action can be taken to challenge the actions taken by ANH. At this time Range cannot provide any indication of the likely timeline for any resolution to this matter. The Company will continue to update the market on any material developments as appropriate.

StockMarketWire.com
Range Resources advises that that the QUN 158R (renamed QUN 160) development well in Trinidad successfully spudded on 9 November 2016.

The well is located in the Morne Diablo field and is drilling ahead to a total depth of 2,600 feet, expected to take approximately 3 weeks to reach target depth.

The QUN 160 well is the fourth development well drilled by Range in Trinidad this year.

The well is a re-drill of the previously drilled QUN 158 well, targeting the same Upper Cruse and Lower Forest sands.

The well is being drilled by RRDSL using the 1,000 metre rig, which has been granted all necessary regulatory and government approvals in November 2016.

The GY218 SE well located in the Beach Marcelle field is the last well from the five-well campaign to be drilled this year.

The well will be drilled by RRDSL using the 2,000 meter rig, which is currently being prepared for regulatory and government approval.

The well location has been completed and the rig is already rigged up on location. The well is expected to spud by early December 2016.

Trinidad drilling program update
Range is pleased to announce that the QUN 160 development well in Trinidad that spudded on 9 November 2016 was successfully drilled to a total depth of 2,140 feet on 22 November 2016. The well was originally planned to be drilled to 2,600 feet, however it was decided not to drill below 2,140 feet as the main target (Upper Cruse formation) had been encountered at this depth and drilling of the additional footage would have contributed to an increase in drilling cost with little to no benefit.

During drilling, hydrocarbon sands and oil shows were encountered between 1,084 and 2,045 feet. The production testing is expected to commence at the beginning of December and is proposed to be completed in two stages, at depths between 1,012 to 1,271 feet (Lower Forest formation, stage 2) and between 1,794 to 1,963 feet (Upper Cruse formation, stage 1).

Range is also pleased to advise that the GY 218 SE well (renamed GY 681 well) located in the Beach Marcelle field successfully spudded on 1 December 2016. The well is drilling ahead to a total depth of 4,500 feet, expected to take approximately 4 weeks to reach target depth. The primary target of the well is the Lower Gros Morne formation located below 3,500 feet. Any success with the well is expected to open up other development opportunities for that reservoir and add to the geological knowledge of the area.

The GY 681 well is the last well from the five-well campaign to be drilled this year. The well is being drilled by RRDSL* using the 2,000 meter rig, which has been granted all necessary regulatory and government approvals in November 2016.

*RRDSL is a wholly owned subsidiary of LandOcean Energy Services Co., Ltd.

Trinidad Operational Update

The Company is pleased to provide an update on the progress of its operations in Trinidad with the following highlights:

· The exit production rate for 2016 in Trinidad has exceeded 800 barrels of oil per day ("bopd"), a 40% increase from exit rate for 2015;

· The GY 681 well successfully drilled in December 2016 with encouraging log evaluations indicating over 230 feet of an estimated net pay. Production testing to commence this month;

· The QUN 160 well drilled in November 2016 has been put on production; and

· Production at the Morne Diablo waterflood project has commenced on schedule during Q4 2016.

more....

Quarterly activities report

StockMarketWire.com
Range Resources has widened its H1 pretax loss to $37.8m, from a loss of $24.3m a year earlier. Impairments totalled $28.99m, from $17.29m.

"Whilst there are encouraging trends during the period, there is clearly still much work to do to achieve our objective of generating sustainable profitability and positive cashflows," said chairman Kerry Gu.

"Range remains focused on this target through growing production and monetising the substantial reserve base of the company," said Gu.

In addition, Range continued to seek suitable value-enhancing upstream acquisition opportunities and had actively screened a large number of possible transactions over recent months.

Quarterly activities report

StockMarketWire.com
Range Resources has signed a Sale and Purchase Agreement (SPA) with LandOcean Energy Services Co Ltd for the acquisition of 100% of Range Resources Drilling Services Ltd (RRDSL).

As required in the Heads of Agreement, an independent valuation report had been received by Range that confirmed a fair market value of RRDSL of $5.5m.

RRDSL was an established oilfield services business based in Trinidad with a large modern fleet of 12 rigs, including four drilling rigs purchased during 2014.

The transaction would constitute a reverse takeover and would be subject to a vote of the company's shareholders.

Range was also pleased to advise that LandOcean had agreed to revise the repayment terms on all amounts due from Range to LandOcean (excluding the existing Convertible Bond announced on 31 October 2016).

The date for repayment had been extended for a new three-year term, therefore Range had no repayment obligation to LandOcean until April 2020.

"In addition, LandOcean has agreed to substantially reduce the interest rate on the outstanding amount due from 10% to 6% per annum.

"The current amount outstanding from Range to LandOcean (excluding the existing Convertible Bond) is approximately $39m."

StockMarketWire.com
Range Resources (RRL) has acquired interests in an oil block in Indonesia.

The company has signed a sale and purchase agreement with PT Hengtai Weiye Oil and Gas to acquire a 23% interest in the Perlak field.

This interest will increase to 42% upon completion of a minimum work programme.

The acquisition consideration of $3.2 million will be funded from the existing cash resources of the company.

The Perlak field has a history of oil production of around 60 million barrels (mmbbls).

Range estimates material remaining oil in place of up to 500 mmbbls.

The work programme is aimed at re-initiating production from the existing wells, firming up the field development plan and fully exploiting the potential resources.

Chairman Kerry Gu said: "The low acquisition cost, minimal work programme commitment and protection from underperformance present a very attractive opportunity for the company to expand its footprint and potentially grow its reserves base."

2nd May 2017
StockMarketWire.com
Range Resources has signed a Sale and Purchase Agreement (SPA) with LandOcean Energy Services Co Ltd for the acquisition of 100% of Range Resources Drilling Services Ltd (RRDSL).

As required in the Heads of Agreement, an independent valuation report had been received by Range that confirmed a fair market value of RRDSL of $5.5m.

RRDSL was an established oilfield services business based in Trinidad with a large modern fleet of 12 rigs, including four drilling rigs purchased during 2014.

The transaction would constitute a reverse takeover and would be subject to a vote of the company's shareholders.

Not sure if this has yet happened. RRL stock still suspended.

Cancellation - Range Resources Limited
RNS
RNS Number : 6699Q
AIM
14 September 2017
 
NOTICE
 
14/09/2017 7:00am
 
NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM
 
RANGE RESOURCES LIMITED
 
Trading on AIM for the under-mentioned securities has been cancelled from 14/09/2017 7:00am, pursuant to AIM Rule 41.
 
ORDINARY SHARES OF NO PAR VALUE, FULLY PAID (DI) (B28QX48) (AU000000RRS3)

There was another RNS which hasn't shown up on MAM:-

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

UPDATE ON TRADING IN SHARES ON AIM

Range advises that trading in the Company's shares on AIM will be cancelled from 7:00 am (BST) on 14 September 2017.

As announced on 13 March 2017, Range is proposing to acquire Range Resources Drilling Services Limited ("the Acquisition"). Following that announcement, the Company's shares were suspended from trading on AIM pending the publication of an admission document. Under AIM Rule 41, the admission of a company's shares will be cancelled where these have been suspended from trading for six months.

During the past six months, the Company has invested substantial time and effort in preparing the required admission document with the intention of publishing it prior to the six-month deadline. During this time the Company has also continued to seek value-enhancing acquisitions and as announced on 8 and 11 August 2017, Range was pleased to advise it has agreed to acquire new assets in Indonesia (Perlak field) and Trinidad (West Coast). As a result of these proposed acquisitions, the Company was required to incorporate information on these assets into a revised admission document and also to undertake further legal, technical and financial due diligence work. Regrettably, it has not been possible to finalise all the necessary processes prior to the 14 September 2017 deadline.

Range remains committed to maintain a listing in London and intends to seek admission of its shares to AIM at the earliest reasonable opportunity. The Company will update shareholders on the admission process in due course. Range also remains committed to completing the three announced acquisitions (Range Resources Drilling Services Limited; West Coast, Trinidad; and Perlak, Indonesia) and the cancellation of trading on AIM will not impact on these processes.

Range currently anticipates that the shareholder meeting to approve the Acquisition will take place in early November 2017.




Contact details



Range Resources Limited
Evgenia Bezruchko (Group Corporate Development Manager)
e. admin@rangeresources.co.uk
t. +44 (0)20 3865 8430
Cantor Fitzgerald Europe (Nominated Advisor and Broker)
David Porter / Sarah Wharry (Corporate Finance)

t. +44 (0)20 7894 7000



This information is provided by RNS
The company news service from the London Stock Exchange

END

Cheers kim.

ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS
Range, an international Company with oil and gas assets in Trinidad and Indonesia and an oil services business in Trinidad, is pleased to announce admission of its ordinary shares to trading on AIM, a market operated by London Stock Exchange plc from 8:00am today under the ticker "RRL" (ISIN AU000000RRS3).

The Company's AIM admission document can be viewed at www.rangeresources.co.uk.

The Company also advises that today it has published an updated presentation which is available on the website www.rangeresources.co.uk.

up 22%, still have several hundred thousand of these. :-)) Not worth selling. Boom or bust.

StockMarketWire.com
Range Resources has advanced a partial payment of US$2.8m to LandOcean Petroleum as part of the consideration for the completed acquisition of Range Resources Drilling Services.

The payment is on a refundable basis and the funds will be immediately repayable to Range upon the company's request.

The company says this early, refundable payment will benefit Range as it will no longer have to pay the 6% interest rate per annum accruing on the amount of consideration.

The consideration for the acquisition remains due to be paid by no later than 30 November 2020

TRINIDAD OPERATIONAL UPDATE
Range is pleased to provide an update with respect to its Trinidad operations with the following highlights:

· The recently drilled well located at the Beach Marcelle field has been successfully put into production and is flowing at a stabilised rate of 120 barrels of oil per day ("bopd") on a restricted choke of 5/32";

· Production growth from the waterflood programme is showing a positive trend with 40% of current production (240 bopd) attributed to this programme; and

· As at 29 December 2017 the average production for the quarter to date is 629 barrels of oil per day ("bopd"). The current daily production (as at 29 December 2017) is 703 bopd.

Range's CEO, Yan Liu commented:
"We are very pleased with the production results from the latest well which is one of the best producing wells drilled by Range in recent years in Trinidad.

We are also continuing our focus on production growth from the ongoing waterflood programme and seeing a steady increase in oil production from this programme. With approximately half of our total production currently attributed to Beach Marcelle, we are excited by both the waterflood and development opportunities of the field and are planning to exploit its full potential as part of the upcoming work programme."

EXECUTIVE DIRECTOR SIGNS CONTRACT TERMS
Range makes the following disclosure in connection with new employment contract entered into with Executive Director Mr Lubing Liu. This disclosure is made in accordance with ASX Listing Rule 3.16.4.

As announced on 21 February 2018, Mr Lubing Liu has been appointed as Group Chief Operating Officer and General Manager of Trinidad. The key terms of the contract are:

Group Chief Operating Officer
· Engaged to provide the services of a Chief Operating Officer commencing on 1 March 2018;

· A set annual fee of US$84,000; and

· 3 month termination notice (or payment in lieu of notice, subject to the Corporations Act and Listing Rules).

General Manager of Trinidad
· Engaged to provide the services of a General Manager of Trinidad Operations commencing on 1 March 2018 (subject to work permit approval in Trinidad);

· A set annual fee of US$60,000; and

· 3 month termination notice (or payment in lieu of notice, subject to the Corporations Act and Listing Rules).

Half-year Report
RNS
RNS Number : 9204H
Range Resources Limited
16 March 2018

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

HALF-YEARLY REPORT
Range today releases its half-yearly report (unaudited) for the 6 months ending 31 December 2017.
Yan Liu, Range’s Chief Executive Officer, commented:
“We are extremely encouraged by the progress in both operational and financial performance demonstrated in the interim results.
We continue to invest in growing the asset base and completed two important acquisitions during the period. Throughout the remainder of this year we look forward to seeing further improvements in key metrics such as operating costs as a result of RRDSL acquisition, and revenue growth from our upstream assets.
We are confident that as we focus on growing the business, we will continue to deliver substantive value and results to our shareholders.”
Highlights for the period include:
Operational
Trinidad:
The average production for the period of 605 bopd was 22% higher than comparable prior year;
Increase in production is mainly attributed to the ongoing waterflood programme, selective development drilling and workovers;
· The Company continued with implementation of the Beach Marcelle waterflood project, which accounts for the vast majority of Range's reserves in Trinidad;
Production from waterflood continued to increase with approximately 30% attributed to this programme;
Two development wells successfully drilled and brought into production;
Over 130 workovers completed; and
Independent Competent Persons Report (“CPR”) published confirming net 2P reserves of 16 MMstb and net 2C contingent resources of 8 MMstb.

Indonesia:
The Company has been building an experienced operating team, and undertaking initial geological and geophysical studies;
Upcoming work programme and budget are being finalised; and
Independent CPR published confirming net 2C contingent resources of 10.9 Bscf and 3.1 MMstb.

Corporate:
In line with the growth strategy, the Company completed two new acquisitions:
23% indirect interest in an established oilfield in Northern Sumatra, Indonesia;
100% interest in Range Resources Drilling Services Limited (“RRDSL”), an oilfield services provider based in Trinidad with a fleet of modern drilling rigs, workover rigs, and equipment.
AIM re-admission completed; and
Group Chief Operating Officer and Trinidad General Manager, Mr Lubing Liu appointed subsequent to the period end.
Financial:
Financial performance has materially improved with a 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million);
Revenues increased by 39% to US$5.4 million (prior year: US$3.9 million), principally due to an increase in production;
Operating expenses decreased by 14% to US$34.5 per barrel (prior year: US$40 per barrel);
General, administration & other expenses decreased by 40% to US$3.2 million (prior year: US$5.4 million);
No impairment charge has been recognised for the first time since 2013;
Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million). The reduction in cash is due to a number of factors including the investment into the new acquisitions and the funding of a drilling programme in Trinidad; and
Range continues to benefit from the generous credit terms offered by LandOcean Energy Services Co., Ltd across various funding arrangements. The average maturity profile is in excess of two years and none of the credit arrangements have any security, and nor do they have any financial covenants or restrictive controls.

StockMarketWire.com
Range Resources announced a subscription for new ordinary shares to raise £1m before expenses.

Pursuant to the subscription, the company will issue 909,090,910 new ordinary shares at a price of 0.11p per new ordinary share.

The proceeds of the subscription will be used to accelerate the growth strategy of the company's current assets in Trinidad, with a view to further increasing production and cashflow.

CEO Yan Liu commented: "We are pleased to be able to commit this additional funding into infrastructure upgrades at our Trinidad assets.

"This will enable us to continue production growth and allow us to further develop our significant assets with a view of unlocking the full potential of our reserves base in the years ahead.

"With an active ongoing work programme, we are focused on delivering on our key objectives geared towards production growth to 1,000 bopd target and increasing cashflows.

"We look forward to demonstrating progress to our new and existing shareholders."