.

I think Peter L is way ahead of the city boys in deal making and understanding Range resources. (Sorry gibby :-) ) Lets face it they were only luke warm to the TT deal and must now see the full potential.. This deal has now been put forward for the deal of the year award.

Lenigas near skint so desperate for a deal. Mr L has the cash and no doubt will achieve a great deal for rrl share holders.

The Goudron field - PL has said the field has enormous potential for increased production as it only produces about 100 barrels a day. Plan to take this to 4000 a day with hydraulic fracturing etc. we will take75% of the fields early revenues.
I just also wonder if the deal has been done on the current p1,p2,.p3 reserves.(only a guess)
I think Lenigas shareholders have gained today, we will gain a huge slice of the pie in the future. No doubt another fantastic deal.

Thanks to great ROOM on 11



13:56 From PL Great_Room 29





I questioned PL about David Lenigas, highlighting his reputation amongst many investors. Also asked if there was an operational plan already in place with regards to using the 5 workover rigs in Beach Marcelle. Here is his reply:


Too early - we are now completing technical / operational DD -could be a great add on for us given our significant infrastructure in place - will not comment on Lenigas (not my place and have never been directly involved before) - our only interest is in the asset and the value proposition to range and our shareholders

yawn.,.

Please...Dreamcatcher......something interesting.....not that waffle....

Going to be very interesting to investors, far from waffle.

Australia day today, holiday no ASX.

http://www.rangeresources.com.au/fileadmin/user_upload/research_Reports/RRL_26_01_12.pdf

evening dc - intersting developments - i have to admit i am not a fan of anything leni but heyho we'll see - have a good evening

TRINIDAD & TEXAS UPDATE

Range Resources Limited ("Range" or "the Company") is pleased to announce the
following updates with respect to its operations in Trinidad and Texas.

Continued Success for Trinidad Operations

Range is pleased to announce continued drilling success as it ramps up its
reserves production drilling program on the Morne Diablo concession in onshore
Trinidad.

Following the successful logging and completion of the QUN118ST well, initial
production testing has seen the well producing at a rate of up to 102 bopd on a
5/32" choke under natural pressure from the shallow Forrest formation and has
stabilized at approximately 84 bopd.

The Company is extremely pleased with the initial production results of the
QUN118ST well as it follows on from the recently completed and producing
QUN116ST which is currently producing circa 30 bopd under natural pressure (at
the top of the target range of shallow 1000 ft wells of 15-30 bopd) with an aim
to put the well on pump, after further decline, to increase the production rate
to an estimated 50 bopd.

As previously announced, the QUN 117 well encountered both the Lower Forest and
Upper Cruse objectives, which we believe may extend eastward of the existing
wells, and confirmed the Company's predictions that the current well program
would extend existing fields. The Upper Cruse section was placed on production
with initial production rates of 81 bopd under natural pressure. Like the
QUN 116ST well, this well will be optimized and likely be placed on pump and is
forecast to produce upwards of 50 bopd, whilst still maintaining the Lower
Forest zone potential which is planned to be exploited at a later date.

Rig 2 has moved to the QUN 119 location and is drilling ahead at 1,100 ft with
a TD of 2,400 ft and targeting the Upper Cruse and Lower Forest Sands. Well
logs have been taken over the Lower Forest interval and are indicating
approximately 280 ft of good oil sands with 100 ft of these sands
displaying higher quality potential for better than expected flow rates. These
results are extremely encouraging as indications are that the multi zone
producing trends previously encountered in the QUN 117 well appear to continue.

Rig 5 has been prepared to join the current operations and will be targeting
its first well, QUN 120 for the Lower Forest Sands in the coming weeks.

Rig 8 currently awaits regulatory inspection which is expected shortly and will
be targeting the deeper Middle and Lower Cruse formations, whilst Rig 1 has
been awaiting replacement drill string, expected to be received shortly, at
which point in time the Company will have four fully operational drilling rigs
rapidly advancing the Company's current drilling program on Morne Diablo.

Exploratory drilling for deeper targets is programmed for 2012, following
reprocessing and interpretation of the Company's 3D seismic database, which is
scheduled to be completed early / mid February.

Texas - North Chapman Ranch

The Company would also like to announce that the joint venture has run 9 5/8"
casing on the Albrecht #1 well and is drilling ahead at 11,302 ft, just above
the Anderson Formation, with a proposed target depth of 14,500 ft. If
productive, the Anderson Formation could add significant reserves to those of
the Howell Hight Formation, the primary field pay at North Chapman Ranch.

Completion work continued on the Smith #2 well with the perforation of the
lowest zone, or "E" sand. Immediately following perforation, 5,500 psi of
pressure was recorded at the surface, indicating virgin reservoir pressure at
the Albrecht location. The well is scheduled for fracture stimulation early
next month, along with first production and sales.

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.

Texas - East Texas Cotton Valley

On the East Texas Cotton Valley prospect, operator Crest Resources has received
approval from the partners for fracture stimulation of the Ross 3H Horizontal
Well, and is in the process of scheduling the frac work and subsequent testing
this quarter, which is expected to confirm commerciality of this shallow oil
field.

Yours faithfully

Peter Landau
Executive Director

See your comments about Leni gibby. I gather from an few posts the management are not liked. Looks like Range will come out well from the deal. It will be good to see the day the city like Range for its other assets other then Puntland. No doubt the day will come. Good weekend gibby and all. Good RNS today.

Nice to see TT get a move on now, as its well behind schedule. There was talk of 300 odd staff, sounds like one on the drill and the other 299 making the tea. There is a large wage bill running up. I thought we would be a lot further on by now. Hey ho give it a few months then it would be fairer to make judgement.

all going good here dc imo - leni - i am just not keen on his hitoric deals one bit i'm afraid - maybe he has got this one right for a change - he has to get it right once out of a hundred i suppose LOL - even the law of averages is in his favour this time!!! i had a good weekend till i heard the name leni again lol!! only joshing - hope you had a good weekend also - roll on tomorrow :-))

Been a good weekend as well gibby. yep agree roll on the next few weeks.

ghood to hear it dc - yes should be better than today here

Range and partners have been drilling Puntland 14 days today. Be interesting if we get any leaks in news not Hc's. :-)). See you done well on the gg's gibby drinks all round?
lol

Quarterly Report for Period Ending 31 December 2011

DECEMBER 2011 Quarter - Highlights

* Spudding the first of two historic Puntland exploration wells in the
Dharoor Valley

* Placement completed raising approximately $6.32 million AUD

* Site construction underway for second exploration well in Georgia

RMP Quarterly Activities and Cashflow Report ?

Yes - it was released under the RRL ticker - sorta, kinda, maybe of relevance?

Thanks skinny.

cheers dc ref ggs lol - yes virtual drinks on me :-)))) steady day here which is fine and nice one skinny cheers