.

here we go!! :-))

georgia rns :-)

Georgia Update Site Construction Underway
PRNW


23 January 2012


The Manager
Company Announcements


By e-lodgement

GEORGIA UPDATE - SITE CONSTRUCTION UNDERWAY

Range Resources Limited ("Range" or "the Company") is pleased to announce that
site construction has commenced in readiness for the spudding of the Company's
second exploration well in Georgia - the Namakhvani well which is the Kursebi 6
Prospect. Targeted spudding date is early to mid Feb with a target depth of
circa 3,500m.

Given the unexpected geological sequences encountered with the first well,
Range engaged new independent technical consultants, NTD Energy, to perform a
fresh review of all of the seismic and geological data across the top 3 Kursebi
prospects previously identified. The Kursebi 6 prospect was identified as the
most robust prospect with a more clearly defined structure and indications of a
significantly thicker Jurassic section, increasing chances of encountering more
reservoir and mature source rocks.

Below are the estimates of undiscovered stock tank oil initially in place
(STOIIP) for the prospect.

STOIIP (Mmbbls)

P90 P50 P10 Mean

K-6 Prospect - 100% 32.2 84.8 185.8 99.2

Attributable to Range - 40% 12.9 33.9 74.3 39.7


NTD Energy will assist in the management of the Company's drilling program for
the Namakhvani well along with the supervision of the proposed 2D seismic
program on block VIb. NTD Energy will also assist the Company in promoting and
developing the unconventional (shale) plays that may exist across the two
licence areas through the introduction of farm-in partners.

The Company will provide regular updates as to the progress of the drilling of
the second well.


Yours faithfully

Peter Landau
Executive Director

Fox Davies Capital Update

Range Resources (LON:RRL) Limited (BUY, 27p) (RRL LN, 11.25p, ► 0.0%) and Red Emperor Resources (TRADING BUY, 19p) (RMP LN, 18.25p, ► 0.0%) have announced that site construction has commenced in readiness for the spudding of the second exploration well in Georgia, the Namakhvani well at the Kursebi 6 Prospect. Spudding is expected in early to mid February now that Range have reviewed all seismic and geological data across the top 3 Kursebi prospects, given the unexpected geology encountered at the first exploration well, and Kursebi 6 has been identified as the most robust prospect. The estimate for undiscovered STOIIP for the prospect is 99.2 Mmbbls (mean). Range has a 40% interest and Red Emperor a 20% interest in the prospect.

http://www.naturalgaseurope.com/range-resources-shale-gas-concessions-georgia

Anyone know what all these LC trades are at 7p and 8p ?

Don't know but the same is happening in a few shares ie OTC, SYNC + others..

Thanks gb, and xtr. Would not mind if 30p. :-)

uncrossing trade / sets auction ?

A bit late bit "LC" trade.

'LC' Late Trade Correction
A correction submitted more than three days after the trade date or where deferred publication is permitted at any time after the trade report was submitted to the Exchange reporting system.

Thanks skinny.

yep late corrections - bit of a flat day here but thats ok another day nearer - saw your fd update dc - fd a bit low imo but hey ho

Evening gibby, better to be low, then we can sail by it. :-)). Seen tonight Range are looking for new farmin partners for Georgia ?

From SPIKEY DT http://www.derrickpetroleum.com/2012/01/24/range-resources-seeks-farmin-partners-for-two-georgia-blocks/

ASX - Being held in a trading range, like the uk no movement.

Trinidad - Partnership with Leni Gas & Oil Plc

Amended RNS - PARTNERSHIP AGREEMENT IN TRINIDAD - amended to link with Leni Gas & Oil Plc

StockMarketWire.com
Range Resources has formed a partnership with Leni Gas & Oil to jointly develop their interests in the Eastern Fields Area onshore southern Trinidad, including the Goudron and Beach Marcelle fields.

It will acquire a 30% interest in Goudron E&P in return for contributing $4m at completion.

For a further contribution of $4m during the first 12 months following completion Range will increase their holding to 50%.

Thanks to pealexporter on 11, an explanation of todays deal. Leni, something like 40% up today and Range well you can guess.





I have only just seen the RNS - I have been on a rather uncomfortable nightbus from Montevideo to Florianopolis. Anyhows, let's break down this RNS as simply as possible:

LGO were pretty much broke and couldn't afford to develop their licences alone. PL had the cash and all the cards, thus he has been able to drive a deal that favors RRL much moe than LGO. Today's market reaction may not reflect that currently - when investors break down the numbers later they will see it favours RRL massvely. We have provided the cash for a really rather wonderful deal. $8M (presuming we get to 50%) for 50% of 21.8 mmbbls of P1,P2 and P3. Oh, and also another set of rigs will be mae available that I am sure can be used on our current licences too now. However, it's not about the current known reserves on this new acreage. People are only just starting to catch on with Trinidad's real potential, it will be about the deeper Herrera and UC plays. That is were the real value of this acquisition lies I would suggest.

Now, the man at the top of LGO is a nasty piece of work in my eyes, but upon achieving 50% we (RRL) will take over as operators, so David will cease to matter too much rom this point. In regards of LGO's option to purchase 15% of Beach Marcelle water flood for 50% exta in costs (they pay 22.5%). I have no real issue in this. It will free up a little bit of money for us in other areas (LGO paying up to $7M) and still allows us massive exposure to the water flood upside - with 85% still. We still have complete control of our other two licences and we will very much be calling the shots in this partnership.

This deal also strengthens our position massively in Trinidad and shows that we really mean business here for a long time to come. We have an excellent royalty in place for each barrell of oil and I believe the same deal will apply in this new acreage too. Also, remember how the Offshore Trinidad licences are coming up soon, i onder how much this strengthens our hand here. We are obviously demonstrating our commitment and long term deisire to operate within Trinidad.

Another very good long term deal for RRL-ers I would honestly say. Some will not see the real value of course, many spent months ridiculing our initial Trinidad acquisition - which is now worth multiples of our initial purchase before we even look tothe Herrera and UC CPR.

Have faith all - another step forward today I believe. Puntland, Texas and Georgia may well be sold off at some stage, but I genuinely believe that this is more proof that Trinidad will be the backbone of RRL for many years to come....

Oil & Gas Sector:Market gives mixed reaction to Leni Gas & Oil and Range Resources partnership
StockMarketWire.com
Leni Gas & Oil (LON:LGO) and Range Resources (LON:RRL) received mixed reactions to their partnership to develop interests in the Eastern Fields Area onshore southern Trinidad.

This includes the Goudron and Beach Marcelle fields.

Shares in Leni Gas & Oil were up by more than 51% in late afternoon while Range Resources (LON:RRL) saw its share prices fall by more than 4%.

Range Resources will acquire a 30% interest in Goudron E&P in return for contributing $4m at completion.

For a further contribution of $4m during the first 12 months following completion Range will increase its holding to 50%.

LGO will operate the Goudron field during the initial work-over phase, but subject to Range exercising its option to acquire a total of 50% in GEPL, Range will become operator during the infill drilling and water flood phases.

Range will obtain an accelerated return through 75% of the revenue interest until its initial investment is recovered.

LGO will have the option to acquire a 15% interest in the Beach Marcelle waterflood project by contributing 22.5% towards the development costs (i.e. paying a 50% promote), up to US$7m, towards the development costs.