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Thought Pete would put out a pre christmas rns to keep Range on investors minds over the christmas break. Onwards and upwards.

StockMarketWire.com
Range Resources has confirmed that the Albrecht #1 appraisal well on the Company's North Chapman Ranch Project in Texas has recently spudded and has reached a depth of 2,030 ft., where surface casing will be set.

The Albrecht # 1 appraisal well marks another milestone in the Company's onshore Texas drilling program, as if successful, it is anticipated to prove up reserves in the South East portion of the North Chapman Ranch license area, and support a re-classification of current Possible (P3) reserves into the Probable (P2) and Proved (P1) categories.

Following on from the Albrecht #1 well, the joint venture has the option to continue with the development of the field with a possible four-well program in 2012 under discussion among the joint venture partners.

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The big sell did not help.

Thats christmassy now back on the rise.

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11:13 Range Resources LTD - Trinidad & Texas Reserves & Valuation Report PRN


23 December 2011

The Manager

Company Announcements

Australian Securities Exchange Limited

Level 6, 20 Bridge Street

Sydney NSW 2000

By e-lodgement

INDEPENDENT RESERVES, RESOURCES AND VALUATION REPORT

Highlights:

- Independent Petroleum Consultants, Forrest A Garb and Associates
have completed a consolidated, independent reserves, resources and valuation
report on the Company's worldwide production and development assets, being its
project interests in Trinidad and Texas

- Reserves report estimates total gross Proved, Probable and
Possible (3P) Reserves across these assets of:

- 44.1 MMBbl of oil (net attributable to Range* - 26.4 MMBbl)

- 19 MMBbl of natural gas liquids (net attributable to Range* - 3.7
MMBbl)

- 246 Bcf of natural gas (net attributable to Range* - 43.0 Bcf)

- Reserves report estimates total gross Prospective Resources
across these assets of:

- 27 MMBbl of oil (net attributable to Range* - 20 MMBbl)

- Independent Discounted Cash Flow ("DCF") valuation (at 10%
discount rate) of Range's net interest in 2P Reserves of:

- US$568m (using flat US$85/bbl and US$4.69 Mcf price assumption)

- US$624m (using Nymex Futures Price Deck @ 1 October 2011
assumption)

* before royalties & government interest

Following the acquisition of 100% of the Trinidad assets completed
by Range Resources Limited ("Range" or "the Company") in mid-2011, the Company
engaged Independent Petroleum Consultants Forrest A. Garb and Associates
("Forrest Garb") to complete an analysis of the estimated reserves,
prospective resources and future net revenue attributable to the Company's
portfolio of producing and development assets onshore Trinidad and Texas,
having previously completed a similar report on the Trinidad licenses in June
2010.

The current report includes the recently announced 490% Proved (1P)
Reserve increase in Trinidad following the completion of engineering work on
the secondary recovery potential of the Company's Beach Marcelle block,
however it does not include the positive results from the Company's
development drilling program at North Chapman Ranch in Texas,
recent extensions to the Morne Diablo field in Trinidad where Range has
drilled five successful development wells to date, nor the significant
exploration potential associated with the Herrera formation, which underlies
the existing Trinidad production. The Company will look to engage Forrest Garb
to update the current report once results from the ongoing drilling programs
are known.

Range holds a 100% interest in three onshore Trinidad licenses;
Morne Diablo, South Quarry and Beach Marcelle, a 21.75% interest in East Texas
Cotton Valley Prospect in Red River County Texas and a 25% interest in the
Smith #1 well and 20% interest in subsequent wells in the North Chapman Ranch
Project in Nueces County Texas. Range is the operator of the Trinidad
licenses, while the Texas licenses are operated by its private joint venture
partners.

Set out below is Range's attributable interest in the net
recoverable reserves combined across the Texas and Trinidad assets which is
net of government and overriding royalties and represents Range's economic
interests in its development and production assets as classified in the report
from Forest Garb.

Category Oil (MMbbls) Natural Gas Natural Gas
(Bcf) Liquids (MMBbls)
Proved (P1) 16.1 10.8 29.2
Probable (P2) 2.8 5.5 21.2
Possible (P3) 3.7 14.6 56.5
Total Reserves 22.6 30.9 106.9
Prospective Resource
Best 1.7 - -
High 18.2 - -
Total Reserves / Resources 42.5 30.9 106.9

Set out below is the total estimate Gross Reserves and Resources
across split between Trinidad and Texas.

Category Oil (MMbbls) Natural Gas (Bcf) Natural Gas Liquids
(MMBbls)
Trinidad Texas Trinidad Texas Trinidad Texas
Proved (P1) 16.2 6.0 3.2 64.3 - 5.0
Probable (P2) 3.0 4.4 - 48.6 - 3.8
Possible (P3) 2.9 11.6 - 129.6 - 10.1
Total Reserves 22.1 22.0 3.2 242.5 - 18.9
Prospective
Resource
High 2.4 - - - - -
Best 25.0 - - - - -
Total Reserves / 27.4 22.0 3.2 242.5 - 18.9
Resources

Set out below is Range's attributable interest in the net
recoverable reserves split between the Company's Texas and Trinidad assets
which is net of government and overriding royalties and represents Range's
economic interests in its development and production assets as classified in
the report from Forest Garb.

Category Oil (MMbbls) Natural Gas (Bcf) Natural Gas Liquids
(MMBbls)
Trinidad Texas Trinidad Texas Trinidad Texas
Proved (P1) 15.4 0.7 3.2 7.6 - 0.7
Probable (P2) 2.2 0.6 - 5.5 - 0.5
Possible (P3) 2.0 1.7 - 14.6 - 1.3
Total Reserves 19.6 3.0 3.2 27.7 - 2.5
Prospective
Resource
High 1.7 - - - - -
Best 18.2 - - - - -
Total Reserves / 39.5 3.0 3.2 27.7 - 2.5
Resources

The reserve numbers above do not take into account the recently
drilled Smith #2 well, nor the Albrecht #1 well, which has recently spudded
this week. The Company anticipates that the two wellswill result in the
upgrade of current Possible (P3) reserves on the North Chapman Ranch project
into the Probable (P2) and Proved (P1) categories, assuming success.

Based on the reserve numbers cited above, Forrest Garb's estimated
net undiscounted cash flow value to Range for Proved (P1), Probable (P2) and
Possible (P3), along with discounted cash flow (at a 10% discount rate)
valuation based on two pricing scenarios:

- Flat US$85 / bbl oil and US$4.69 / Mcf gas

- Nymex forward strip prices reported on 1 October 2011

following reductions for royalties, opex, capex, production taxes
etc are as follows:

Flat Nymex Forward Strip
Price at
$85/bbl & $4.69/Mcf
1 October 2011
Category Undiscounted PV10 US$'m Undiscounted PV10 US$'m
US$'m US$'m
Proved (P1) 787 452 885 495
Probable (P2) 211 115 243 129
Possible (P3) 335 134 420 162
Total Reserves 1,334 701 1,549 786

The cost assumptions for the valuations are as estimated by Range
and provided to Forest Garb and have not been escalated for valuation
purposes. The price for natural gas liquids has been assumed to be 47.824% of
the prevailing oil price.

An extract of Forrest Garb's report will be available on Company's
website, which includes further details on the properties and the assumptions
used to generate the results.

Range's Executive Director Peter Landau commented, "the Company is
extremely buoyed by the fact that we have a significant valuation underpin to
Range on its Trinidad and Texas assets as evidenced by this report, with
significant upside potential still to be established through:

- completion of the two development well program (Smith #2 and
Albrecht) on North Chapman Ranch;

- ongoing testing of the Ross 3H horizontal well in its East Texas
Cotton Valley play;

- integration of the results from the current 21 well drilling
program on Morne Diablo into this report; and

- integration of the highly prospective Herrera potential following
completion of the 3D seismic reprocessing due shortly and subsequent drilling
during 2012 .

Range is highly encouraged by the reserves and valuation assessed
by Forest Garb, which significantly exceeds Range's current market
capitalisation without even taking into consideration the huge potential that
exists on its exploration assets in Georgia and Puntland, especially given the
imminent spudding of two exploration wells in both of these regions in January
2012. Range management looks forward to realising this potential value for
shareholders and adding further value through ongoing exploration,
development, production and project acquisition activities."

Yours faithfully

Peter Landau

Executive Director

YEhaaaaaaaaaaaaaaaaaaaaaaaaaaa

Buys coming in now

Range is highly encouraged by the reserves and valuation assessed
by Forest Garb, which significantly exceeds Range's current market
capitalisation without even taking into consideration the huge potential that
exists on its exploration assets in Georgia and Puntland, especially given the
imminent spudding of two exploration wells in both of these regions in January
2012. Range management looks forward to realising this potential value for
shareholders and adding further value through ongoing exploration,
development, production and project acquisition activities."

.

Christmas come early, still a long way to go.

RMP up over 11% on no news??, RRL two positive RNS's up hardly feck all..

http://www.proactiveinvestors.co.uk/companies/news/37293/range-resources-landau-says-firm-buoyed-by-trinidad-and-texas-valuation-37293.html

Merry christmas granny boy. At least it did not go down with very good news.
All the foundations are being laid for the new year. Investors will digest this news over the holiday (with the dry turkey) bodes well for 2012.

Merry xmas to yourself also dreamcatcher. Yes small consolation to be thankful for..

http://www.proactiveinvestors.co.uk/companies/news/37295/emerging-oil-and-gas-frontiers-attract-attention-37295.html

Hot copper -28/12/11 01:14





Here is a an article and translation found on various Somali websites:


Final Oil Drilling Equipment Lands in Bossaso

BOOSAASO : Maalintii 3-aad oo Dakada ay ka dagayaan qalabkii lagu qodi lahaa macdanta

December 26, 2011 11:43 am GMT - Written by Editor - Edited by Editor


Boosaaso:-Sida ay noo xaqiijiyeen saraakiil ka shaqeeya Daka*****saaso ayaa waxaa maalintii 3-aad waxaa ka dagaya qalab isugujira Giriig, Matooro, Gaadiid iyo Tuubooyin kuwaas oo la sheegay in loo wado deegaanka Dharoor si loogu qodo macdan la aaminsan yahay in ay halkaasi ku jirto.

Qalabkan oo la sheegay in uu yahay mid qaali ah oo aad u heersareeya wali macadda shirkada iska leh iyo wadanka laga keenaymana jirto wax war ah oo qalabkan ku saabsan oo maamulku ka warbixiyay, hase ahaatee, Puntland ayaa heshiis kula jirtta shirkado kala duwan oo ah kuwa baara macdanta iyo kuwa soo saara.

Shacabka Puntland ayaa siyaabo kala duwan uga hadlay iyaka oo qaarkood ku faraxsan in ay arkaan shidaal iyo khayraadka dihin ee waligood maqlayeen in uu dhulka ku jiro ay arkaan isaga oo la soo saaray oo laga faa’iidaystay.

Qaar kale ayaa iyaku waxay la yaaban yihiin sida xog la’aanta ay uga yihiin khayraadka dhulkooda Hooyo laga soo saarayo oo aysan wax war ah oo warbaahinta iyo si kalaba loogu soo marshay aysan jirin.

Xogta ku saabsan qalabka oo dhamaystiran Insha’allaah kala soco Puntlandpost.com

Puntlandpost.com


And here is the translation:

Bossaso: A high level official at Bossaso port has clarified to us that for the past 3 days equipments have been docking at the port that include drilling rig, motors, trucks and pipes.

It's been reported that the equipment is very expensive and advanced and the owners of the resources company and the country it originates from have not publicly issued any statements regarding it to the administration however Puntland has an agreement with various companies that explore resources and produce it.

The people of Puntland have spoken about this matter and have various opinions some of who are happy to see the oil and resources they always were told about being drilled and benefited from.

Another section are shocked at the lack of trasparency and lack of information regarding the resources in their motherland that is being drilled which hasn't provided any information to media outlets or any other avenue.

God willing For the complete story regarding these equipment follow Puntlandpost.com

RRL closed up 25% on the ASX last night, up 41% at one stage. Should be a very good day today.