.

Just for info - I have it as +2.8% Aus, and -12.8% US.

Info off Ranges own home page, strange.

from ii

Last Updated: Feb 27, 2012 - 9:07:36 AM

Somalia

Somalia: Andrew Mitchell: ''Britain has no commercial interest in Somalia’s oil''
27 Feb 27, 2012 - 9:01:45 AM



LONDON, England Feb 27 2012 (Garowe Online) – Britain’s Secretary of State for International Development Andrew Mitchell has denied UK Observer’s claims that Britain has a commercial imperative in Somalia, Garowe Online reports.

The UK newspaper the Observer wrote on Sunday that Britain was providing humanitarian aid and security assistance in hopes to a stake of the oil or possibly exploration rights.

The Observer who spoke to Puntland Ministers said that Puntland was offered help in future management of oil revenues. Puntland was also offered technical help and building of oil capacity by oil giant British Petroleum.

Andrew Mitchell who spoke to BBC’s Andrew Marr stated that Britain has no intentions in exploring oil in Somalia. “Of course, of course if oil is found and developed, we want that oil to work for the benefit of the Somali people,” said Mitchell, “But the British Government's development efforts are engaged to make sure that the money is accounted for, spent transparently, and works for the benefit of Somalis.”

Oil drilling has already begun in Puntland and is expected to be extracted in the following weeks. There is an estimated 4 billion barrels of oil in Puntland Dharoor valley according to African Oil but other surveys suggest the exploration site contains double that.

Since before the collapse of Siad Barre’s regime countries like China and the US have been interested in exploring Somalia’s potential oil fields.

GAROWE ONLINE

http://intelligencebriefs.com/?p=1782

Big risk but it does have Trinidad and Texas production to fall back on in the event of a duster......well run this company because one trick ponies are the most difficult to invest in ...hence TRP crashing.....though perhaps Namibia might help them but that's a year or two off....

A duster ? You never know. Our p1 is valued at more then the sp. Im very happy here
now. With the world watching lets see. :-))

In as well......"a la grace de dieu".... as the french might say....could go ballistic....but you have to be prepared for disappointment and stay put for another day.....and that's where Trinidad and the USA helps....

I think the next few weeks are going to be very good for Range. Puntland Has the oil, its just hitting it with the drill. I feel there is just to much going on now for Puntland to be a duster. Again my view.

11 questions sent in to PL by great room on behalf of 11 investors . PL answers Great_Room 5





Hi Pete,

Thanks for offering your help. Questions attached below.

1.) We're now at the one year stage since the Ross H2 well in Texas spudded and we are eagerly awaiting the results. I'm sure you can appreciate that a year is a long time even with the salt water deposits being found. How is Ross progressing and do you feel that it will prove to be worth the efforts?


Wasn't a big committment and still plenty of work to do so too early to tell

2.) Staying with Texas, you have previously intimated that the asset will be sold on and Q1/Q2 2012 was mooted as a likely sale date. Given that Range are now assessing their options with regards to a further 4 drills, when do you see the future asset disposal taking place?


Start process once p3 moves to 1 and 2 after Albrecht - have adviser to appoint q2 , I'd say physical sale q3

3.) Regarding the situation in Georgia, we have all seen the pictures of the weather conditions and harsh snow drifts in that area and fully realise the reason for the delay in spudding the second well. As it was mentioned that Range plans on revisiting Mukhiani for a potential sidetrack after further evaluation, is there a possibility that Mukhiani will be revisited before Vani-2 spuds as presumably the rig and equipment is still in close proximity. When do you expect to know further details with regards reprocessing of data for Mukhiani?

Nope - needs 2 new seismic lines before determination



4.) Range has recently expressed an interest in shale project/s in
Georgia. I'd be interested to know if the company has considered
unconventional/shale gas within its other assets, particularly TT or
would look to include a future asset with such potential?

Georgia at this stage - could look at shale if deal was unique enough (eg. Discussions with some of the Indian groups in the states)

5.) Range recently drew down £3m. Are you at liberty to say if this was for operating costs or is something more specific earmarked?

Specific

6.) Would you expect an updated Trinidad CPR and the first Herrera to spud in Q1?

Nope q2

7.) Are you able to comment on the situation regarding the upper cretaceous license for Trinidad? If Range were to successfully acquire these, do we have a drill rig that would be able to reach these depths? If not, would it be challenging to acquire one within a quick timescale?


Have the rig - confident of the process but does take time
8.) What would you say the benefits are of listing on the OTCQX exchange?


More recognised exchange for north American instos
9.) Your contract with Range is apparently up for renewal in July. Are you in a position to give shareholders the best news of the year and confirm there will be no issues with you signing an extension?


No issues at all

10.) It has been 4 months since it was announced that Range and Marauder Resources were in the final stages of documentation for acquiring Puntland offshore licenses. Can you comment on the current situation and possible timescales involved?

Little hard to comment - range still involved and march a good target month

11.) Were the mucky DVDs you took to Puntland tax deductible?


Nope - pa account
Thanks Pete, I've capped it at 11 questions as I know you are busy trying to further the company.

Looking forward to hearing your response.



Many thanks,



Kieron

http://www.rangeresources.com.au/fileadmin/user_upload/asx/RRSAnnouncements708Notice280212.pdf

Down 5.41% on ASX.

Horn up 18% today on the TSX. Large volume. Barely moved up to today.
Mes up 20%

http://www.upi.com/Business_News/Energy-Resources/2012/03/01/Somalias-oil-prospects-add-new-dangers/UPI-81601330635213/?spt=hs∨=er

Up 2.86% on ASX.

Cheers kim. Enjoy your hols DC.

Thanks 3m and kim.

Yes enjoy your hols DC. Don't forget to send a postcard! :o)

Thanks kim, good day for Range today.

http://www.presstv.ir/detail/229645.html

"Many Somalis now wonder why Britain is so interested in the country after neglecting it for years",

I would say one of the reasons were the civil war that lasted for nearly 20 years, but you can bet your bottom dollar that they've been receiving foreign aid from the UK?.