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Thought it may have something to do about the news but was not quite sure, it seems to me somone only needs to cough or sneeze these days and people quit. Thanks anyway for responding.

http://www.miningmaven.com/k2/companies/range-resources/range-resources-patience-and-faithfulness/

Thursday, 03 February 2011 14:44

Range Resources: Patience and Faithfulness
Written by MiningMaven


Patience and Faithfulness (in the words of Vincent Van Gogh!)

Building a successful company in the ....................

And some more news just out :

http://www.investegate.co.uk/Article.aspx?id=20110204070000P3D4D


4 February 2011

Australian Securities Exchange
Level 4, 20 Bridge Street
SYDNEY NSW 2000

Via E-lodgement

COMMENCEMENT OF FRACTURE STIMULATION OPERATIONS ON RUSSELL BEVLY WELL AND
SPUDDING OF ROSS 3H WELL IN TEXAS IMMINENT

Range Resources Limited ("Range" or "the Company") is pleased to announce that
preparations have begun on site in anticipation for the arrival of the team to
perform the fracture stimulation on the Russell Bevly Well (Range 20% interest)
at the North Chapman Ranch Project in Texas. The fracture stimulation is
expected to significantly increase hydrocarbon flow rates and recoveries from
the well.

It is anticipated that the team will arrive on site on or around 10 February
2011 and will then take around a week to complete the fracture stimulation
operation. The operation will be performed in four stages consecutively, during
which the fracturing fluid and proppant (support medium) will be placed in each
of the four sand reservoir pay zones that have been previously logged in the
well. Assuming the successful completion of the fracture stimulation, it is
planned that all four sand pay zones will be brought into production
simultaneously.

It is expected that the facture stimulation will result in a significant
increase in production, given that the well is currently only producing under
natural pressure from 11ft out of a total pay across the four sand pay zones of
approximately 130ft.

It is then planned that the team will return to potentially undertake a similar
stimulation operation on the nearby Smith #1 Well in April, once the joint
venture has had a chance to observe the performance of the Russell Bevly Well
following the fracture stimulation.

On the Company's East Texas Cotton Valley play, where Range recently increased
its participating interest to 21.75%, preparations are being made to mobilize a
rig onto the drill site for the Ross 3H well. Following delays due to complex
title and regulatory work, Range and its partners expect to spud the well this
month. The Ross 3H is another milestone in the Company's history as it
represents Range's first horizontal well.

The Ross 3H and fracture stimulation of the Russell Bevly #1 demonstrate
Range's commitment to application of the best drilling and completion
technology available in order to optimize oil and gas recovery and maximize the
economic returns from its portfolio of projects.

For and on behalf of the Board

Regards


Peter Landau
Executive Director

A bit more detail :

http://www.proactiveinvestors.co.uk/companies/news/25228/range-resources-to-fracture-stimulate-russell-bevly-well-spud-ross-3h-well-in-texas-25228.html

Range Resources to fracture stimulate Russell Bevly well, spud Ross 3H well in Texas

Friday, February 04, 2011 by Proactive Investors


Range has a 20% interest in the Russell Bevly well at the North Chapman Ranch Project in Texas.

Range Resources (ASX:RRS, LON:RRL) has begun preparations for the fracture stimulation of the Russell Bevly Well and the spudding of the horizontal Ross 3H well.

Range has a 20% interest in the Russell Bevly well at the North Chapman Ranch Project in Texas.

The fracture stimulation operation is expected to take around a week to complete and should increase hydrocarbon flow rates and recoveries.

It will be performed in four stages consecutively, during which the fracturing fluid and proppant (support medium) will be placed in each of the four sand reservoir pay zones that have been previously logged in the well.

All four sand pay zones will be brought into production simultaneously, assuming the successful completion of the fracture stimulation.

This should result in a significant increase in production, given that the well is currently only producing under natural pressure from 11 feet out of a total pay across the four sand pay zones about 130 feet.

Following the fracture stimulation, a similar operation is planned for the nearby Smith #1 Well in April, once the joint venture has had a chance to observe the performance of the Russell Bevly Well.

Drilling of the first well has resulted in a commercial discovery with independently assessed gross recoverable reserves in place of 240 billion cubic feet (Bcf) of natural gas, 18 million barrels (mmbbls) of oil and 17 mmbbls of natural gas liquids (mean 100% basis).

Preparations are also being made to mobilize a rig onto the drill site for the Ross 3H well on the company's East Texas Cotton Valley play, where Range recently increased its participating interest to 21.75%.

Range and its partners expect to spud the well this month despite delays due to complex title and regulatory work.

Ross 3H represents another milestone in Range Resources' history as it is the company's first horizontal well.

The prospect has independently assessed gross recoverable reserves in place of 5.4 million barrels (Mmbbls) of oil (mean 100% basis).

Yes Prose its certainly going to be a busy and exciting few months coming up!!! with news on rrl, eog and fingersx ast

http://www.rangeresources.com.au/fileadmin/user_upload/research_Reports/RRL_31-01-11.pdf


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Thanks Prose, hopefully the hellium results will be good and they should be announcing the results shortly i should think?......

http://www.oilbarrel.com/nc/news/display_news/article/the-high-risk-high-reward-prospects-in-somalia-come-to-the-fore-again-for-range-resources/771.html


February 02, 2011

The High Risk/ High Reward Prospects In Somalia Come To The Fore Again For Range Resources


Time was it seemed like a very good idea for ASX and London AIM Listed Range Resources to diversify into low risk assets in the US. It had some frontier exploration in Puntland (an autonomous state within Somalia). Yes it was, in theory, highly prospective but it also ticked all the boxes in terms of high risk projects.

On top of inhospitable terrain and the tyranny of distance to infrastructure and markets, there was scant previous drilling to know what oil and gas might be discovered. There was political instability in Puntland and also feuding warlords, and banditry in Somalia proper. To add to the excitement there is a pronounced piracy problem in the seas off Somalia. Moreover there was uncertainty over whether licence extensions would be agreed.

Accordingly, at a very low price, Range acquired a 25 per cent interest in the North Chapman Ranch field in Texas. Later it bought into the East Valley Prospect. Two wells, the Russell Bevly -1 and the Smith #1 well on Chapman Ranch came good. This gave Range output which, in time -- that is to say the end of the fourth quarter 2010 -- came to amount to around 124 barrels a day of oil and something like 5 million cubic feet of gas a day. This was enough to underpin the share price at about 5p, according to Barney Gray, analyst at house broker Old Park Lane Capital.

Barney reckons there are many more prospects to drill and there has been an upgrading in reserves and he feels output could be pumped up to 500 boepd, which would add value. But there have been other diversifications which have also helped stir the share price.

Last summer Range signed a Heads of Agreement to acquire a 10 per cent ownership of companies that hold three production licences in Trinidad. Gross production on the licences is currently 700 bopd but there are plans to lift this to 4000 bopd within 36 months. As with the US production this will help to offset the risks of wildcatting in Puntland and elsewhere.

In Georgia, Range has acquired a 50 per cent interest in Blocks VIa and VIb which cover about 7,000 sq km where RPS Energy has identified 68 prospects with a combined gross oil-in-place estimate of 2 billion barrels. Of the 68, six have been prioritised as drill-ready with a gross unrisked oil-in-place estimate of 728 million barrels.

After the results for the fourth quarter 2010 were released Range and its Georgian partner, Strait Oil and Gas, announced they had entered into a Heads of Agreement with Red Emperor Resources to acquire a 20 per cent farm-in interest (10 per cent from Range and 10 per cent from Strait) in Block Via and Block VIb in Georgia.

The key terms of the HOA will see Red Emperor contribute 40 per cent of the drilling costs for the planned two well programme (capped at total gross costs of US$14 million) with Red Emperor contributing US$5.6 million. It seems that drilling will take place quite soon. Barney Gray reckons these are high risk projects although not as high risk as Puntland; but not as prospective either. He gives a one in ten chance of success to the two wells, which means you are looking for discoveries of between 10 million to 100 barrels.

In Puntland you are ideally looking for rather more than this. Moreover, certain new developments have thrust Somalia back to the fore for Range. In Puntland Range holds a 20 per cent working interest in two licences encompassing the highly prospective Dharoor and Nugaal Valleys.

Following the fourth quarter 2010 end Range together with its joint venture partners, Africa Oil Corp and Lion Energy entered into amending agreements with the government of Puntland in respect of the of the production sharing agreements (PSAs) for the Dharoor and Nugaal concessions which sees the First Exploration Agreement extended for a further 12 months, from January 17, 2011 to January 17, 2012.

Under the amended PSAs, a minimum of one exploratory well must be spudded in the Dharoor Valley Exploration Area by July 27, 2011. A second exploratory well is required to be spudded in the Nugaal Valley Exploration Area or, at the option of Africa Oil (as operator), in the Dharoor Valley Exploration Area by September 27, 2011.

Earlier this month Range secured a three year Equity Line Facility (ELF) with Duchess Capital for up to 20 million. So something is at last happening in Puntland where the partners are hoping the acreage is a replica of the multi-billion barrel basins across the Gulf of Aden. The new facility, together with option exercise cash which could amount to 14 million outstanding and cash flow from production means that the company is now well funded to progress the development of its assets in Puntland, Georgia and Texas. The shares have ticked up from 5p to around 9.5p on all this news. Old Park Lane has set a target price of 14p, but this could start looking conservative.

Cheers for the above. Wish there were more positive things happening to the rest of the crap I have bought into over the years. Have a good weekend and let the battle commence again on Monday - just wish I had never retired from my day job, hahaha!!!!!!!!!

good stuff, a tad conservative sp though imo - rrl is derisked - loads of potential at several global sites - a preferred share for me - personal target 20p + by end 2011 - 80p + 2 years - need to retire even earlier!!!

Just needs a push to get through that 10p barrier

I am pushing all the way, saw some buy at 10p not a lot but at least somebody has - wow!!!!

Even if it doesnt get to 10p and it stays at the rise it is then its still a good day, theres always tomorrow.. and onwards and up.......

Above 10p mid now, keep going, do not be shy...

Yes what was i thinking silly me of course its going to get above 10p????..LOL

How good was that then!!!!!!!! Thanks to all of you I kept hold, and did not take notice of RHPS - wish I had had lots more now but eggs and baskets don't do. Still pondering over EOG but Caza went up a little so still don't know what to do. Here is to another good day tomorrow for RRL and cheers folks.

Lovely stock. Ignore the white noise on the discussion boards and stick to a plan. Worth holding some and trading some imo, so that if it all goes badly wrong........political instability and accidents do happen.........

Interview with PL of RRL :

http://www.iii.co.uk/tv/episode/peter-landau-range-resources-2011

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Helium survey results are good too.

News just out on ASX, will be out in London today as well.



http://www.asx.com.au/asxpdf/20110208/pdf/41wn90m7g72tkg.pdf


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Another positive RNS so i'l expect the share price to drop???????only kidding onwards and UP>>>>>>>>>>>>...