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

truly amazing - what was it a 3 or 5 year wait to flog texas - for what - sold for peanuts - incredible
gla

Someone , without naming names should be behind bars for this -

ha ha lol yes

http://www.moneyam.com/action/news/showArticle?id=4950203

Trinidad Update
Range is pleased to provide a Trinidad update with the following highlights:
o Range and LandOcean are finalising proposed plans for extended waterflooding of Range's Trinidad licences, with subsurface studies successfully completed;

o The next key step in the waterflood programme will be commencement of surface studies which will include well integrity surveys and sourcing injection water;

o Forecasts indicate oil production could exceed 3,000 bopd for the Beach Marcelle waterflood project;

o The Company has received all environmental and government approvals to proceed with the Morne Diablo waterflood expansion project;

o Funding for the waterflood projects has been secured through US$50 million credit facility with Sinosure (as announced on 11 December);

o Dr. Wang Guohui, a deputy General Manager of LandOcean with over 25 years of experience in oilfield production analysis and management, has been appointed as LandOcean's Head of Trinidad project to complement Range's Trinidad team;

o Following a review of its business plan, Range's Board has determined that the drilling business does not fit with the strategy of the E&P Company and the time and resources will be best spent on efficiently running its upstream assets;

o As a result, Range has agreed to sell its Drilling Services Company in Trinidad for total cash consideration of US$7.2 million and these proceeds will be invested primarily into development of our core Trinidad assets; and

o The Drilling Services Company will continue to provide full oilfield operations services to Range in Trinidad, to accelerate Range's planned development and exploration drilling programmes.

looks to be a similar set up now as LGO.

Company Update

Only bit of interest? -

"Lind Financing Update

As announced on 11 December, pursuant to the Company's US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), the Company has made an undertaking to Lind that, to the best of its ability and subject to AIM and ASX listing rules, the Company's Shares will not be suspended from trading on either the ASX or AIM market for more than 5 days, commencing from the execution date of the loan facility agreement. With the recent suspension, the Company has fully utilized these allowed days and subsequently provides Lind with certain additional rights under the agreement, including the ability to demand re-payment of the loan. At present, US$5.5 million under the Lind facility has been drawn down in two tranches, US$5 million at completion date (17 October 2014) and US$0.5 million (20 November 2014). Under the facility the company has issued 96,440,891 ordinary fully paid shares (38,000,000 collateral shares issued on 17 October 2014 and 58,440,891 first repayment shares on 18 November 2014). The initial facility has a face value of US$7.25 million.

To date, the Company has not received any demand notification to call the loan in accordance with the default provisions. Range is currently in discussions with Lind however, there remains uncertainty on the outcome of such discussions and at present the Board has yet to receive sufficient comfort that Lind will not issue a demand for repayment in the short term. Given the uncertainty over the Company's financial position should such a demand for repayment be made, the Company will remain in suspension until such time as an agreement is reached with Lind, or the Company has sufficient alternative financing to repay the Lind facility in full."

Company Update
RNS
RNS Number : 1872C
Range Resources Limited
14 January 2015



Company Update



Lind Financing Update



Further to the Company's announcement on 7 January 2015, regarding US$15 million loan facility provided by Lind Asset Management, LLC ("Lind"), Range has now received a letter from Lind seeking repayment of the full outstanding amount under the facility no later than 15 January 2015. The initial facility has a face value of US$7.25 million.



Range has communicated to Lind that it wishes to repay the facility in cash and intends on using the Core Capital financing to meet such final repayment.



Management intends to submit a settlement proposal to Lind by 15 January 2015 for their consideration. The Company's shares will remain in trading suspension until such time as an agreement is reached with Lind, or the Company has sufficient alternative financing to repay the Lind facility in full.



Update on Asset Sales



Further to the Company's previous announcement, Range has yet to receive any sales proceeds in respect of the Texas asset disposal. Range is in dialogue with Citation Resources Limited (ASX: CTR) to agree a revised timetable for completion.



Separately, Range has yet to receive any sales proceeds and has been informed by LandOcean Petroleum Corp. Ltd ("LandOcean Petroleum") that the sale of Range Resources Drilling Services Limited remains on track to complete on or before 30 January 2015, as previously announced.



Range will update the market accordingly on completion of these asset sales.



Change of Registered Address



The Company would also like to announce the change of registered office to Bennett & Co, Ground Floor, BGC Centre, 28 The Esplanade, Perth Western Australia 6000.

16 January 2015
ASX Code: RRS
AIM Code: RRL
Investor Q&A

http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1301

22 January 2015

Company Presentation

Range advises that today it has published its Company presentation which is available on the Company's website at www.rangeresources.co.uk.

this one is and always has been in the same league as RRR and CHAR, and has had its time of a big and vocal following here

Trinidad Presentation
January 2015


http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1303

Quarterly Activities Report, Appendix 5B

http://www.moneyam.com/action/news/showArticle?id=4969103

Investors Q & A from the company site


http://www.rangeresources.co.uk/framework/documents/displaydocument.asp?doc=1308

wow is rrl still trading?!

Hmmmm - Notice of Extraordinary General Meeting

Range Resources outlines case for US$60mln Core Capital funding

By Giles Gwinnett

February 24 2015, 1:28pm
Range Resources' (LON:RRL) board has sent a letter to shareholders urging they vote in favour of a US$60mln funding with Core Capital



Range Resources' (LON:RRL) board has sent a letter to shareholders urging they vote in favour of a US$60mln funding with Core Capital.

Among other factors, it says it will provide the firm with an additional US$50mln facility and allow it to refinance its debt position.

But an independent expert’s report (IER) has described the proposed transaction as 'not fair but reasonable'.

After completing the financing, Chinese investor Core will own 38.4% of the company, while subsequent conversion of the debt would see that stake increase to 47.7%.

Because of this large stake, Range is obliged to hire a third party to give an independent view to shareholders and it hired RSM Bird Cameron to produce the report.

RSM said: "In our opinion, the position of the shareholders of Range if the proposed transaction is approved is more advantageous than the position if it is not approved.

"Therefore, in the absence of any other relevant information and/or a superior offer, we consider that the proposed transaction is reasonable for the shareholders of Range."

The Range board added: “We appreciate the rationale for the calculation of the fairness opinion by RSM, however, we would highlight to Shareholders that the implied valuation using the DCF [discounted cash flow] calculation for the assets assumes that Range is able to finance the development.

“The proposed investment is the cornerstone to unlock the potential of these reserves.

“As RSM highlights, the position of shareholders would be more advantageous if the transaction is approved, as it would provide the company with the required funding to develop the Trinidad assets.”

In Trinidad, the firm said the proceeds would allow work on three existing onshore blocks - Morne Diablo, South Quarry and Beach Marcelle, where Range has reserves of 22.1 million barrels of proven and probable (2P) in well-known reservoirs.

Range has commitments on its existing blocks to drill 34 development wells over the next two years.

The extraordinary general meeting is on March 27.

If the financing with the Chinese investor is not approved, oil group Range must find alternative capital to develop its assets and repay a loan from asset manager Lind, it told shareholders.

Drill firm LandOcean has committed to providing a facility of US$50 million to fund the water-flood programme on Range's Trinidad assets, but this will not be available without additional cash being secured, the firm said.

Range has outstanding debt with Lind with a face value of US$7.25mln, for which it has received a statutory demand for payment.

The funds would allow Range to repay this loan.

Investor Q&A

Lind Financing Update
RNS
RNS Number : 2765H
Range Resources Limited
12 March 2015



Lind Financing Update



Range advises that further to the Company announcement on 18 February 2015, it has lodged an application with the Supreme Court of Western Australia to set aside the statutory demand from Lind Asset Management, LLC. Range will continue to update the market as appropriate.

Half-Yearly Report


Range today releases the half-yearly report for the 6 months ending 31 December 2014, with the following key points:

Corporate:

· New Board and additional management appointed;
· US$60 million equity based financing secured from Core Capital. The transaction is on track to complete on or before 30 April 2015, subject to shareholder approval at the EGM on 27 March 2015;
· US$50 million credit facility arranged for Trinidad waterflood and development programmes (subject to Range paying a security deposit of US$7.5 million);
· Range will fully exploit and develop the potential of the Trinidad assets with the US$110 million total financing package;
· In line with the Company's strategic focus on Trinidad, the Company is looking to rationalise non-core assets of the Company;
· Range agreed to sell its drilling services company in Trinidad which will continue to provide full oilfield operations services to Range. Sale completion is anticipated before the end of March 2015;
· Sale & Purchase Agreement signed for the disposal of non-core Texas assets with completion anticipated before the end of March 2015; and
· Range announced the loan financing agreement of up to US$15 million with Lind Asset Management, LLC (Lind). At present, a total of US$5.5 million under the Lind facility has been drawn down. Subsequent to period end, Range received a statutory demand from Lind demanding repayment of approximately US$7.2 million that Lind alleges is due and payable. Range submitted an application to the Supreme Court of Western Australia to set aside the statutory demand.

Operational:

· The average oil production in Trinidad has decreased by 11% to 545 bopd from 615 bopd in the same period last year. The decrease was mainly a result of lack of drilling activity and poor uptime of the rig fleet, resulting from historical underinvestment, which prevented the Company from running its drilling operations at full capacity;
· Seven development wells were spudded on the Company's Morne Diablo and South Quarry licences. At the date of this announcement, five of those wells were put into production, and two wells to be tested;
· Range continued to make significant progress on the waterflood programmes in Trinidad with LandOcean, with extended waterflooding studies successfully completed;
· Range entered into the second purchase order for the provision of technical services by LandOcean to implement waterflooding plans in Trinidad; and
· Range is finalising proposed exploration programme plans on the Guayaguayare licence, with the first shallow onshore well expected to spud in H1 2015.

Financial:

· Revenues decreased by 34% to US$7.8 million (2013: US$11.8 million), which was due to lower oil production in Trinidad and lower overall oil price. The average realised oil price for the period has decreased by 19% to US$79.2 per barrel (2013: US$97.4 per barrel);

· G&A costs decreased by 13% to US$7.5 million (2013: US$8.6 million), however the management considers these costs to be still too high and is focused on reducing them substantially;

· Range has recognised an impairment charge of US$5 million against its Georgian assets. Range continues to explore options to exit these non-core assets and given the current low oil price environment and the challenging M&A conditions, the management believes that this represents fair value that might be received on any potential disposal;

· The net loss from operations on the assets being sold (Texas and Range Resources Drilling Services Limited) was US$2.5 million; and

· Net loss for the period, therefore, was US$19.9 million (2013: US$19.1 million).

The management remains fully committed on turning the Company around, strengthening the balance sheet, and increasing production and look forward to providing more frequent operational updates to Shareholders. An update on Trinidad operations will be released to the market later this week.

A copy of the full Half-Yearly Report is available on the company's website: www.rangeresources.co.uk.

Range Resources fully committed to turn-around plans

By Jamie Ashcroft

March 16 2015, 9:09am
During the year Range underwent a number of changes, including both board and senior management changes.



Range Resources (LON:RRL) has told investors that its management remains fully committed to turning the company around.

It is working to strengthening the balance sheet and increasing production, the company said.

It said it intends to make to more frequent operational updates for investors in future, with an update of work in Trinidad anticipated later this week.

For now, however, the transitional oil company released its financial result for 2014.

During the year Range underwent a number of changes, including both board and senior management changes.

A funding deal with Chinese investors and other financiers is expected to see a total injection of US$110mln that will allow the company to fully exploit the potential of its assets in Trinidad.

The US$60mln equity element of the funding is said to be on track for completion before April 30, subject to shareholder approval at next month’s EGM.

Range continues its efforts to rationalise non-core assets – it recently agreed to sell its in-house drilling company, and this deal is expected to complete this month. At the same time, it expects to complete the sale of its Texas assets in March as well.

Oil production during 2014 reduced 11% to 545 barrels per day from 615 in 2013. Range said this was due to lack of drilling activity and poor uptime of the rig fleet, a result of historical underi-nvestment.

A total of seven development wells were drilled in 2014, five of which have been brought into production while the other two still await completion.

Range is finalising its plans for an exploration programme for the Guayaguayare licence, and a shallow onshore well is expected to spud in the first half of the current year.

Revenue fell 34% to US$7.8mln as a result of lower production and lower oil prices. At US$79.2 per barrel, Range’s realised oil price for the period was down 19% for the year.

The company cut overheads, with G&A down 13% to US$7.5mln though management believes this is still too high and it is focused on reducing cost substantially.

The company said the business units currently being sold, Texas and Range Resources Drilling Services, had losses of US$2.5mln for the period; it has now recognised a US$5mln impairment against its non-core assets in Georgia.

Net losses for the year totalled US$1.9mln.