Range Resources Limited is a dual listed (ASX:RRS; AIM:RRL) Trinidad-focused independent E&P company, with a 100% interest in three onshore production licenses, namely Beach Marcelle, South Quarry and Morne Diablo, as well as additional highly prospective exploration acreage on Guayaguayare license (farm in) and newly awarded St Mary’s licence.The Company is focused on growing its production through waterflood projects, combined with extensive shallow onshore development drilling programme.

The Company has independently assessed Proved reserves (2P) in place of 22.1 MMBO.

Range has further interests in Guatemala; Puntland, Somalia; Colombia; and Georgia.


http://www.rangeresources.co.uk/about.asp

Range Resources strikes Georgian coal seam gas development deal
5:50 am by Proactive Investors



Range Resources (ASX: RRS) and its partners have reached an agreement with Georgian Industrial Group to jointly develop the coal seam gas and conventional gas potential around the Tkibuli‐Shaori Coal Field.

The fast track assessment and development program is designed to bring the Tkibuli project, which has gross estimated Contingent Resources of about 400 billion cubic feet of CSG, into gas production and sales within 18 months.

GIG, the largest industrial holding company in Georgia, will purchase all gas produced on a take or pay arrangement at a 5% discount to a regional indexed price less transportation, removing the monetisation risk. Regional prices have averaged between US$8 and US$10 per 1000 cubic feet of gas.

“This is a major opportunity for the company and the significance of the project should not be understated,” Range executive director Peter Landau said.

He added the ability to finance the project through debt underpinned the deal by removing any immediate financial commitments to Range.

“We believe the deal has huge potential for the company in the next three to five years as the production base grows and will generate significant revenues for the company.

“The joint venture compliments Range’s current focus on production growth, whilst ensuring its operational and financial capabilities remain with Trinidad.”

The joint venture will start feasibility and technical studies before carrying out a three to four well pilot project.

This pilot program will focus on appraising targets already venting methane and is expected to start in the second half of 2013.

New wells will target horizons at depths between 500 and 2,000 metres and can be drilled within 45 days. The consortium will ensure that the first well of the program counts as the commitment well for Block Vlb.

Range and its consortium partners will form a development company on a 50:50 basis.

Tkibuli

Tkibuli has been assessed by Advanced Resources International to host about 400Bcf of CSG.

Sand horizons have also been identified around the coal beds, which could add additional conventional hydrocarbon resources.

Over 400 exploration and non‐hydrocarbon wells have been drilled in the Tkibuli area, many encountering hydrocarbons and one producing gas for over 35 years.

The appraisal and pilot wells will clarify flow rates and other key parameters including optimum well construction and completion strategy; well spacing; and water treatment prior to full scale development.

Based on previous studies, Range expects to execute 6 CSG wells per annum, each capable of producing between 300,000 and 500,000 cubic feet of gas per day.

Range has a 40% interest in blocks Vla and Vlb that cover a total of 7,000 square kilometres.

Georgian Industrial Group

GIG is the largest holding company within Georgia and embraces a number of subsidiary companies operating in the energy sector, acquiring and processing of natural resources, production of building materials, logistics services and real estate development.

Its operations are focused on the acquiring and processing of the country’s resources, which in turn fosters long-term development and success of Georgian industries.

Analysis

While Trinidad remains the focus for Range Resources, the deal with Georgian Industrial Group brings a heavyweight presence to support development of Tkibuli coal seam gas and conventional gas potential.

It also removes the need to secure a buyer for any gas produced as it has already agreed to offtake any gas produced.

The regional pricing of between US$8 and US10 per thousand cubic feet is also attractive as it compares favourably to prices in Australia, which averages between from A$4 to A$6 per thousand cubic feet in the Eastern States.

Taken together, this has the potential to be a strong second arrow in Range’s quiver of projects.

Closed up today 13.48% at 4.80p

http://www.citation.net.au/media/articles/ASX-Announcements/20130220-Atzam-4---Probable-Reserves--188/1196564.pdf

Well done Dreamcatcher on "Giving this BB a smarter look".........Lets hope the Range SP continues its journey Northwards!

Interesting read on the Citation drilling.

GLA........Gerponville18

StockMarketWire.com
Range Resources said an independent report estimated probable reserves of 2.3 million barrels of oil in the Atzam #4 well in Guatemala.

Range's update followed its recent acquisition of a 19.9% interest in Citation Resources Ltd, and 10% at the project level.

The probable reserve at Atzam #4 excluded contributions from the lower C18 and C19 sections, due to minimal log data, with testing recommended in future wells, Range said in a statement.

It added that preparations continue for flow testing the lower C17 and upper C18 carbonate sections with an electrical submersible pump (ESP).

There were estimated flow rates of 300-400 bbl/day, with an 85-90% oil cut from the lower C17 and upper C18 carbonates with an operational ESP, based on results to date.

Further, significant moveable oil identified in electric logs in the C13 and C14 carbonates still untested.

Thanks G, the old thread was just that and out of date .

Closed up 10%

Better than in the red - still a long way to go for us. I certainly won't hold my breath and worry about capital gains tax for now. UGH! I wish.

lol

Large volume today, recovered and held up well.

Good volumes all week; best day was yesterday.

Rumours......... Citation have put a halt to any share dealing until Monday (This is not the rumour.....RNS issued by Citation this morning); the rumour is; Range to become majority shareholder = Buyout Citation. I assume this would come from the imminent sale of Texas?

So we should have some news of sorts definitely on Monday?

We have so much to look forward too from Range. This is all in my opinion of course. I hope so anyway; I have been topping up from the low 3's. I am more confident in the SP reaching 10/12p, not sure on the 25p.......Fox Davies expert analysis, not mine........I do hope I am wrong though!

GLA.........Gerponville18

Well done with that news G.

Up just under 6%

Wake me up dc please when it goes up 150% - only joking!! A young mother of three is missing and has been since yesterday morning from an area about 6 miles away from me, the police have put posters up all over the place and joe public are all out looking for her - how sad, I sincerely hope they find her alive and well.

That may be a long sleep. Thats sad 3m, fingers crossed she will be found ok.

Suspended on the 21st and a trading halt on the 25th (linked to post 12)



http://www.asx.com.au/asxpdf/20130225/pdf/42d7hgc619kdnz.pdf

http://www.asx.com.au/asxpdf/20130226/pdf/42d8lsb50x1w3z.pdf

placement
http://www.asx.com.au/asxpdf/20130226/pdf/42d8ltyyrqmm8r.pdf

Petrotrin expects increased oil production in 2013 – Breaking News – Trinidad and Tobago
26th Feb
http://www.directorstalk.com/petrotrin-expects-increased-oil-production-in-2013-breaking-news-trinidad-and-tobago/

Range Resources investing US$70-US$100 mill in T&T

http://www.guardian.co.tt/business-guardian/2013-02-27/range-resources-investing-us70-us100-mill-tt

The young mum of three was found dead yesterday morning in a field - post natal depression - how tragic!!!! Very sad around this area at the moment, although I did not know her it is still horrible to think that such a young life 31yrs. has ended up that way leaving a 3 month old baby and two little boys plus her husband, family and friends. God love them all, that is all I can say. It makes all of our troubles seem like little ones.