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

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. :-))