http://minesite.com/media/pub/var/release_downloadable_file/37169.pdf
Range Resources (LON:RRL) slipped 3% during early trading after the company provided an update on
drilling operations on the Shabeel well in Puntland, Somalia which is being drilled by its Joint Venture
Operator, Horn Petroleum Corp. ("Horn"). The Shabeel well is currently at a depth of 2703 metres and the
setting of the 9 5/8" casing has just been completed. The well drilled through primarily tight limestones and
shales of Lower Tertiary to Upper Cretaceous age and encountered a 355 metre section of Upper Cretaceous
sands and shales of the Tisje / Jesomma Formations at a depth of approximately 1660 metres. The sands in
this interval exhibited both oil and gas shows and petrophysical analysis of downhole electrical logs indicates
a potential pay zone of between 12 and 20 metres in the section. Attempts to sample formation fluids using a
wireline formation tester were not successful and thus the zone will require cased hole testing to confirm
whether they are oil bearing. At a depth of 2015 metres, a thick section of tight limestone and shales was
encountered and extended to the present depth of 2703 metres. This is believed to correspond to the Upper
Cretaceous Gumburo Formation. The forward plan on the well will be to drill ahead to the originally planned
depth of 3800 metres to evaluate the primary and secondary reservoir targets in the Lower Cretaceous and
Jurassic intervals equivalent to the main productive section seen in the analogous fields in Yemen. A testing
programme including the zones of interest seen to date and any deeper potential pay zones identified will be
agreed with partners at that time. Upon completion of this well, the Company plans to move the rig to the
Shabeel North location on which construction is nearing completion.
Horn's President and CEO, David Grellman, commented "We are encouraged by the results to date and
pleased that we have confirmed the presence of an active petroleum system in the Dharoor Valley. We look
forward to drilling ahead into the primary objectives of the well and hope to confirm the shallow prospective
zones by testing in the near future."