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.