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

Quarterly Activities Report For the Period Ended 30 June 2015

Highlights
· Average oil production of 602 bopd in Trinidad increased by 8% from the previous quarter;
· Preparation work continued with good progress for the drilling of the Canari North exploration well, which is the first shallow onshore well planned on the Guayaguayare PSC licences;
· Range signed an amendment agreement allowing the Company to double its working interest in the Guayaguayare PSCs with any consideration payable being contingent upon a commercial discovery and subsequent production, subject to final government approvals;
· Exploration work programme and budget for 2015 on the St Mary's block has been finalised and is planned to commence in the second half of the year;
· The sale of Range's drilling business to LandOcean completed. LandOcean will add four new drilling rigs to the fleet this year. Manufacturing of all four rigs has been completed. The largest rig will arrive in Trinidad in mid-August, and the other three rigs will arrive in Trinidad in September;
· As a result of the driling business sale and the implementation of other cost reduction measures, the Company has positive operating cashflows across the Group at current levels of production;
· Equity funding package of approximately US$30 million with Sibo signed at a premium to the share price, with final completion subject to shareholder approval at the EGM on 28 August 2015;
· Supplier financing agreed, whereby LandOcean will provide extended credit terms of 12 months on drilling related invoices; and
· In line with the Company's stated strategy of non-core asset rationalisation, Range completed its withdrawal from Puntland and the disposal of its equity holding in Citation Resources Limited.


Production overview

The Company's oil and gas production for the period in Trinidad is as follows:
· 54,770 bbls (average of 602 bopd) net to Range, which is an 8% increase from 557 bopd in the previous quarter. The Company is cashflow positive at current levels of production.




more....

Trinidad Update

Trinidad Operations Update

Production overview

The average production in Trinidad for June and July was 570 barrels of oil per day ("bopd"). The overall production decreased by 8% compared to the last reported production of 620 bopd in May, due to a number of factors, including lack of drilling activity, natural production decline, and electrical outages. Despite the decrease in average production, the Company remains cashflow positive at current levels of production.

The Company believes that the next six months will show substantial improvements in operational performance. The access to additional four brand new drilling rigs during 2H 2015, will be pivotal to improving capabilities and limiting the downtime of Range's development and exploration operations.

Drilling fleet

Following the sale of Range's drilling business in the previous quarter, the drilling business is operated by LandOcean Energy Services Co., Ltd ("LandOcean") and its subsidiaries. As previously announced, LandOcean will be adding four new drilling rigs to its fleet in Trinidad this year. Management is delighted that all four rigs are already on their way to Trinidad.

more....

StockMarketWire.com
Range Resources has finalised the drilling schedule in Trinidad with LandOcean for the next 22 development and exploration wells.

It is expected that the proposed 22 wells will be drilled by the end of the first quarter of next year. However, certain drilling logistics are beyond the company's control and, therefore, the drilling schedule remains subject to a number of variables.

It has been granted permission to construct 15 drilling pads.

Construction of the drilling pads for the wells GY 161S, MD 42N, Canari North, GY 180SE and QUN 158 redrill has been completed. Contracts for land work and construction of the remaining seven locations are currently being negotiated.

The management believes that the 22 well programme presents an ambitious target, given a number of challenges that need to be overcome.

Sibo Funding Update

New Drilling Rig Arrives in Trinidad

Range is pleased to advise that the vessel carrying the first new 4,000 m rig has arrived at the port in Trinidad. This is the largest rig to be added to Range Resources Drilling Services Limited ("RRDSL") drilling fleet this year.

The other three new rigs (with drilling capabilities of 2,000 m, 1,500 m, and 1,000 m) are on route to Trinidad. The vessel carrying the rigs is currently passing the coast off the US and will make a stop in Guatemala before arrival at the port in Trinidad. The rigs are now expected to arrive by the end of September.

The 4000 m rig is expected to be available for drilling from October 2015, and the other three new rigs from November 2015, subject to a number of conditions, including customs clearance, various government and regulatory approvals and availability of suitable drilling staff to operate the rigs.

Following shareholders' queries, the Company wishes to clarify that the Guayaguayare deep commitment well which was not included in the work programme schedule released on 24 August 2015 is expected to be drilled next year. The details including proposed spud date for this well are still being finalised and will be released in due course.

Completion of US$30M Funding and Issue of Shares

Trinidad Operations Update

Annual Financial report

http://www.moneyam.com/action/news/showArticle?id=5122726

Last para from The Chairman:
"The creation of long-term value for our shareholders remains the fundamental driver of everything we do and we look forward to demonstrating this as we develop our ambitious plans and achieve our goals. With the Company's highly prospective licences, drilling underway, and funding in place, I believe the Company is well positioned for future success by growing production and reserves, and transforming Range into a significant oil producing company, which is not yet reflected in today's share price."

might not be reflected in the share price but it's sure reflected in the market cap!

Perhaps he meant pre dilution and dilution and dilution and dilution and dilution and ...........

Trinidad drilling operations update

Trinidad further drilling update:

http://www.moneyam.com/action/news/showArticle?id=5143726

Trinidad Drilling Update and New Rigs Arrival

Trinidad Operations Update
RNS
RNS Number : 8144H
Range Resources Limited
02 December 2015



Trinidad Operations Update

Drilling programme

Range is pleased to advise that the third development well of the 22 well programme, the GY 161 S well spudded on 27 November 2015 and is drilling ahead to a total depth of 2,000 ft. It is expected to take approximately 21 days to reach target depth. The GY 161 S well is the second development well to be drilled by the Company on its Beach Marcelle field. Depending on results, the well may be used as part of a waterflood pattern in the future.

The drilling services are being provided by Range Resources Drilling Services Limited ("RRDSL"), a wholly owned subsidiary of LandOcean Energy Services Co., Ltd. The well is being drilled using rig 2.

The 180SE was the first well drilled on the Beach Marcelle block earlier in November. The log evaluation has been completed and the results are encouraging. A total of 72 ft. of net oil sand has been encountered and the Company is looking to submit for approval to perforate the well.

Approvals received for Morne Diablo waterflood expansion

The Company is delighted to announce that it has received all necessary government and regulatory approvals for the Morne Diablo waterflood expansion programme.

As previously announced, the Company has a pilot waterflood in place, which was established to obtain data and test operational and reservoir parameters to aid in the planning of the larger expansion model. Given success of the pilot scheme, the larger scale expansion in the Shallow Forest horizon is underway. The original oil-in-place in the expansion area is estimated by Range to be approximately 6.5 mmbbls, of which 1.35 mmbbls (21%) has been produced by primary depletion. Studies indicate that this plan could produce another 1.15 mmbbls (18%).

Initial water injection is expected to commence during the current month and first production is expected in 2H 2016.

As previously announced, the Company also applied for the required government approvals for Beach Marcelle waterflood and expects to receive these shortly.

CPR statement

In Accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Dr Douglas Field. Dr Field is a petroleum and reservoir engineer who is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a PhD in Organic Chemistry. Dr Field is a member of the SPE (Society of Petroleum Engineers) and the PESGB (Petroleum Exploration Society of Great Britain). The reserves information in this announcement has been prepared in accordance with the guidelines of the Society of Petroleum Engineers (SPE).

Glossary

Original oil in place is that quantity of petroleum that is estimated to exist originally in naturally occurring accumulations. It includes that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production plus those estimated quantities in accumulations yet to be discovered.

Questions and answers

StockMarketWire.com
Range Resources has provided an update on its operations in Trinidad. Highlights are as follows:

* Approvals for the implementation of the Beach Marcelle waterflood project have been received;

* 12 wells have been approved for conversion to water injectors on the Morne Diablo waterflood project. Initial water injection has commenced;

* Third development well of the 22 well programme has reached its total depth with a total of 130 ft. of net oil sand encountered and the well Is being tested; and

* In addition, a new upper zone on the existing QUN 47 well has been perforated, with the well flowing a stabilized rate of 50 bopd from this new zone.

StockMarketWire.com
Range Resources advises it has received a notice from Agencia Nacional de Hidrocarburos (ANH), National Hydrocarbons Agency of Colombia, which states that the licences over the three exploration blocks, PUT-5, VMM-7, and VSM-1 have been revoked.

The licences were awarded to a consortium of Optima Oil Corporation ("Optima") and the Company in December 2012.

ANH alleges that this is a result of the exploration work commitments not being fulfilled and presentation of invalid letters of credit by Optima.

The aggregate value of the exploration work commitments for the three licences amounts to approximately US$53 million. Under the terms of the Joint Operating Agreement ("JOA") between the consortium parties, it is the sole responsibility of Optima to complete the work commitments and provide all necessary letters of credit.

Both the Company and the consortium are obtaining legal advice with regard to this matter and it is currently anticipated that the consortium will lodge an appeal against the decision. The Company will update shareholders as appropriate.

Colombia is a non-core asset and Range had nil value attributed towards its interest in the three blocks on its balance sheet as at 30 June 2015. Under the JOA, Range has a 10% fully carried interest with other parties being Optima (80%) and Petro Caribbean Resources Ltd. (10%).

New well spuds in Trinidad
Range is pleased to advise that approval for the new 4,000 m drilling rig has been granted to RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd). Subsequently, the MD 51-1 development well (renamed MD 250 well) successfully spudded on 10 March 2016 using the rig. The well is drilling ahead to a total depth of 4,150 feet and is expected to take four to five weeks to reach target depth.

The MD 250 well is the first development well to be drilled using one of RRDSL's new rigs. The well will test deeper horizons of the Upper and Middle Cruse sand trends and explore the potential of out-step drilling. MD 250 is a directional well from the previously drilled MD 248 well location.

The Upper Cruse sands, though penetrated by numerous surrounding wells, have not been fully exploited in this area of the Morne Diablo field. The Middle Cruse sands have been identified as well-developed in nearby wells with some of those having produced in excess of 100,000 barrels from this horizon during the well life.

As previously announced, RRDSL successfully completed construction of a three-cellar drilling pad during 2015. Initially, the MD 250 well will be drilled from the drilling pad. Drilling of further wells from the drilling pad will be evaluated dependent on the results from this well.

Further three new drilling rigs of RRDSL are currently undergoing certification and will be brought into drilling operations once approved.

StockMarketWire.com
Range Resources has widened its H1 pretax loss from continuing operations to USD24.3m, from USD13.1m. Revenue was USD4.3m, from USD7.8m. It was fully funded for its upcoming exploration, development and waterflood programme.

OPERATIONAL HIGHLIGHTS:
* The average oil production in Trinidad of 561 bopd was broadly unchanged from 545 bopd from the same period last year;

* The Company published updated reserves statement (1P of 19.4 mmbbls; 2P of 22.0 mmbbls and 3P of 27.6 mmbbls);

* Significant progress on the waterflood programmes continued with approvals for Morne Diablo and Beach Marcelle projects received. The Company identified implementation of these projects as the highest priority;

* Water injection on Morne Diablo project underway and expected to commence on Beach Marcelle during Q2 2016;

* Three development wells successfully drilled and put on production. The Company plans to drill a number of additional high impact wells onshore Trinidad during 2016; and

* Exploration work on the St Mary's and Guayaguayare licences continued, including preparations for spudding of the Canari North exploration well.

StockMarketWire.com
Range Resources said the MD 250 development well in Trinidad was successfully drilled to a total depth of 4100 feet by March 28.

During drilling, hydrocarbon sands and oil shows were encountered at depths of 1,350 ft. and between 3,500-3,600 ft. with an estimated net pay of over 100 ft.

Log evaluations are currently underway. The well is proposed to be completed using 5 1/2" casing string and cemented to surface, after which individual geologic targets will be selectively perforated and tested, pending approvals from the regulatory bodies.

This is the first of the five well drilling programme which Range has planned for 2016. The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block.

Multiple hydrocarbon zones identified on MD 250

RNS


RNS Number : 9979U

Range Resources Limited

12 April 2016




Multiple hydrocarbon zones identified on the MD 250 well

Highlights:

· Multiple hydrocarbon bearing zones have been identified following initial log evaluations on the MD 250 well;

· Four lower zone intervals will be perforated and tested first, with an estimated net pay of over 40 feet;

· Other promising multiple intervals located in the middle and upper zones of the well will be tested thereafter, with an estimated net pay of over 100 feet; and

· RRDSL's additional three new drilling rigs are undergoing certification, expected to be received during the current quarter.

Range is pleased to announce that initial log evaluations on the MD 250 development well in Trinidad are highly encouraging with multiple hydrocarbon bearing zones identified, which will now be tested to determine the well's producing potential.

The Company will commence a production testing programme by perforating and testing four sand intervals located in the lower zone of the well between 3,350 and 3,900 feet with an estimated net pay of over 40 feet. The relevant approvals have been submitted to the regulatory bodies in Trinidad.

Once testing on the lower zone has been completed, the Company plans to test further multiple promising intervals of the well, located in the middle and upper zone of the well between 1,350 and 2,700 feet, with an estimated net pay of over 100 feet, pending approvals from the regulatory bodies in Trinidad.

The MD 250 well was drilled to a total depth of 4,100 feet, significantly ahead of the expected drilling schedule and was completed using a 5 1/2" casing string and cemented to surface. This is the first well to be drilled using RRDSL's (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) new 4,000 m rig.

As previously announced, during 2015 RRDSL successfully completed construction of a three-cellar drilling pad on the location. Once production testing on the MD 250 well has been completed, the Company will evaluate the possibility of drilling any follow on wells from the drilling pad dependent on the results from this well. As a standard practice and in line with safety requirements, production operations on a pad area are performed after the drilling of all the wells on that pad is completed. Therefore, if the Company decides to drill follow on wells from the drilling pad, all wells will be brought into production only once all drilling operations on the pad are completed.

RRDSL's further three new drilling rigs are undergoing certification and will be brought into drilling operations once approved. As advised by RRDSL, approvals are expected to be received during the current quarter.

Competent Person statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Dr Douglas Field. Dr Field is a petroleum and reservoir engineer who is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a PhD in Organic Chemistry. Dr Field is a member of the SPE (Society of Petroleum Engineers) and the PESGB (Petroleum Exploration Society of Great Britain).

Glossary

Net pay is a reservoir or portion of a reservoir formation that contains economically producible hydrocarbons. The overall interval in which pay sections occur is the gross pay; the portion of the gross pay that meets specific criteria such as minimum porosity, permeability and hydrocarbon saturation are termed net pay.