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

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Agency of Colombia, which states that the licences over the three exploration blocks, PUT-5, VMM-7, and VSM-1 have been revoked.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.

StockMarketWire.com
Range Resources has signed an agreement with the Petroleum Company of Trinidad and Tobago Ltd to reduce the overriding royalty rates (ORRs) on its producing Morne Diablo, Beach Marcelle and South Quarry fields.

The revised ORRs will apply when the received oil price is below USD50 a barrel. The changes will be effective from March 16 and will apply retrospectively to sales made from Feb. 1 onwards.

Assuming a WTI price of USD45 a barrel, this change would have minimal net revenue1 benefit to Range at current production levels.

"However, the impact will progressively increase at higher production levels with the net revenue benefit estimated to be approximately 7% at 2,500 bopd, assuming the same oil price," Range said in a statement.

"The reduced ORRs are particularly encouraging for operators like Range who are committed to growing their production in Trinidad over the coming years and are a welcome incentive introduced by Petrotrin during this period of sustained lower commodity prices."

Range also notes the comments by the Honourable Colm Imbert, the Minister of Finance of Trinidad and Tobago, in the 2016 Mid-Year Budget Review held on 8 April, 2016 that the Government intends to review the level of Supplemental Petroleum Tax (SPT) on crude oil prices moderately higher than US$50 per barrel.

This review is anticipated to be completed by September 2016.

StockMarketWire.com
Range Resources has reached a binding agreement with Lind Asset Management to settle all outstanding claims and disputes between the parties, allowing it to draw a line under this long-running dispute.

"As previously announced, Lind initiated legal action in New South Wales Supreme Court seeking payment of approximately USD600,000 in respect of interest and legal costs. Lind also sought other damages for breach of contract," it said in a statement.

Range filed a defence against the claims and a cross-claim for damages.

Under the terms of the settlement agreement, Range has made a payment to Lind of USD325,000 and Lind will retain the beneficial ownership of the 38 million collateral shares which were issued by Range in 2014 as part of the original funding agreement.

StockMarketWire.com
Range Resources said its voluntary suspension on ASX will not affect its share trading on AIM.

Range is in the process of appointing an Australian resident director, as a result of David Chen ceasing to be an Australian resident, as part of the requirements under Australian Corporations Act and ASX Listing rules.

The Company requested the voluntary suspension on ASX to be in place until it releases an announcement regarding the new appointment, and expects to make the announcement before the commencement of trading on Monday, 6 June 2016.

Beach Marcelle Waterflood Commences

RNS


RNS Number : 6254Z

Range Resources Limited

30 May 2016




Beach Marcelle Waterflood Commences

The Company is pleased to provide an update on its waterflood projects in Trinidad with the following highlights:

· Injection on the flagship Beach Marcelle waterflood project has commenced;

· Two injector wells are being used to inject water, at an average initial rate of approximately 600 bwpd, which will gradually increase as additional wells and surface facilities are commissioned;

· Waterflood injection on the Morne Diablo project is continuing, with water rates increased to the maximum volume of water currently available;

· Agreement reached with Petrotrin to access additional water supply for Morne Diablo project with contracts to be signed shortly; and

· Waterflood projects will be key contributors to the Company's production growth over the coming years.



Beach Marcelle Waterflood - South East Block

The project implementation on the South East block of Beach Marcelle field has been successfully progressing over the last months. As a result, initial water injection has commenced, on schedule with the previously anticipated timelines.

The waterflood pattern on the block comprises 10 injector and 15 producer wells. The selected wells are undergoing workover operations using two workover rigs, with five wells completed as injectors and four as producers to date.

Two injector wells are currently being used to inject water, at an average initial rate of approximately 600 barrels of water per day ("bwpd"). In line with the planned implementation programme, injection volumes will be low at first, gradually increasing as additional wells and surface facilities are commissioned. Injected water is expected to be available from shallow aquifer wells (water source wells). The selected water source wells are also currently undergoing workover operations.

The first production as a result of waterflooding is anticipated during Q1 2017. The average production over the 8-year period is expected to be approximately 1,600 bopd, with production estimated over the plateau period of three years of 2,000 bopd.

The original oil-in-place in the South East block is estimated by the Company at 37.5 mmbbls, of which 6.2 mmbbls (17%) has been produced by primary depletion. Waterflooding is estimated by the Company to recover another 4.8 mmbbls over the next 8 years.

Morne Diablo Waterflood - Expansion Project

As previously announced, the initial water injection on the project commenced in December 2015.

The waterflood plan involves the use of up to 14 injectors and 14 producers. Four injector wells are currently being used to inject water. The water injection has been increased from 150 bwpd to 250 bwpd, which is the maximum volume of water available at present from Range's production wells.

To get access to additional water source supply, Range has been negotiating with Petrotrin to use produced water from Petrotrin's existing operations, which will increase water injection by 3,000 bwpd. The Company is pleased to advise that the agreement with Petrotrin has been reached and expects to sign the contract shortly.

The Company will be constructing a new water pipeline to connect Morne Diablo field to Petrotrin's water treatment facility. The environmental approvals for use of the additional water and construction of the new water pipeline have been submitted to the regulatory body in Trinidad.

The average production over the 8-year period is expected to be approximately 200 bopd, and is forecast to be achieved when water injection is increased to approximately 3,000 bwpd.

The original oil-in-place in the expansion area is estimated at 6.5 million barrels of oil (mmbbls), of which 1.3 mmbbls (20%) has been produced by primary depletion. Waterflooding is estimated by the Company to recover another 0.6 mmbbls over the next 8 years.

Additional Waterflooding Areas

The Company has identified additional areas around the previously drilled development wells in the South Quarry and Morne Diablo fields, which could be suitable for waterflooding. The Company will continue to evaluate these areas and study the field for waterflooding potential. If deemed economically feasible, Range will proceed with the relevant approvals to implement these projects.

As previously advised, Range and LandOcean are continuing to progress with finalising the terms for the US$50 million trade financing package with Sinosure. Pending completion of the Sinosure facility, LandOcean will provide Range with credit terms of 720 days for all work undertaken as part of purchase order 2 of US$50 million, including the waterflood programme.

Yan Liu, Range's Chief Executive Officer, commented:

"I am extremely pleased with the commencement of injection on our second waterflood project. Beach Marcelle is the largest waterflood project to be implemented in recent times in Trinidad and the team has been working tirelessly to bring it on line. It will be key to our production growth in the coming years, with first production from this project expected at the beginning of next year.

I look forward to working closely and leading our team during this period of unprecedented operational activity and demonstrating the results to all shareholders."

StockMarketWire.com
Range Resources (RRL) received approval to spud the MD 51-2 development well, which is expected to spud early next month.

The workover programme on existing wells was reviewed to focus on the most economic wells, while credit terms by LandOcean on drilling services and PO1 were extended by 12 months, to allow the company to repay credit from future cashflows once production ramps up.

It will be a directional well to be drilled to a total depth of 3,900 feet to test the Middle and Upper Cruse sands, which were encountered with the MD 250 well.

Initial log evaluations on the MD 250 development well identified multiple hydrocarbon bearing zones, with an estimated net pay of over 140 feet.

The well will be drilled from the same drilling pad as the MD 250 well, using a 4,000 metre rig. The wellhead is located approximately 20 feet from the MD 250 well and drilling company RRDSL is in the process of moving the rig to the well location.

In line with safety requirements, production testing operations of the MD 250 and MD 51-2 wells will be performed only once all drilling operations on the pad area are completed.

This is the second of the six 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.

RRDSL's further three new drilling rigs are pending final approvals from the Ministry of Energy and Energy Industries (MEEI).

Approvals cannot be granted until all documentation on the rigs, as requested by the MEEI, is provided by RRDSL.

RRDSL is working on acquiring the requisite documents for submission to the MEEI. As advised by RRDSL, approvals are expected to be received in Q3 2016.

As part of the company's cost management, Range completed a workover programme review. The company reduced various workovers to focus on the most economic wells.

Range conservatively estimates that five development wells from the 2016 work programme will add approximately 500 barrels of oil per day (bopd) to current production levels by the end of 2016.

Range reiterates its previous production guidance of 2,500 bopd by the end of 2017, with the majority of this production growth to come from waterflood projects.

New well spuds in Trinidad

RNS


RNS Number : 3896E

Range Resources Limited

17 July 2016




New well spuds in Trinidad

Range is pleased to advise that the MD 51-2 development well (renamed MD 251 well) in Trinidad successfully spudded on 15 July 2016. The well is drilling ahead to a total depth of 3,900 feet and is expected to take approximately three weeks to reach target depth.

As previously announced, this will be a directional well to test the Middle and Upper Cruse sands, which were encountered with the MD 250 well. The initial log evaluations on the MD 250 development well identified multiple hydrocarbon bearing zones, with an estimated net pay of over 140 feet.

The well is being drilled by RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) from the same drilling pad as the MD 250 well, using the same 4,000 metre rig. The wellhead of the MD 251 well is located approximately 20 feet from the MD 250 well. In line with safety requirements, production testing operations of the MD 250 and MD 251 wells will be performed once all drilling operations on the pad area are completed.

This is the second of the six 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.

RRDSL's further three new drilling rigs are pending final approvals from the Ministry of Energy and Energy Industries (MEEI), expected to be received during Q3 2016.

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 Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Trinidad Development Drilling Update

RNS


RNS Number : 2510G

Range Resources Limited

04 August 2016




Trinidad Development Drilling Update

Range provides an update on its Trinidad operations with the following highlights:

· MD-251 well successfully reaches target depth ahead of schedule;

· RRDSL-owned rig 18 achieves necessary regulatory and government approvals to commence operations; and

· 3rd development well in the 2016 work programme (LD-1) to spud this month.

Range is pleased to confirm that the MD-251 well which was spudded on 15 July 2016 has reached target depth of 3,900 feet, ahead of the original schedule. Preliminary analysis of the well indicates approximately 60 feet net oil pay in the Middle Cruse sand. Range now intends to proceed with production testing of both the MD-251 and the previously drilled MD-250 wells during this month and anticipates bringing both wells into production during the current calendar quarter.

Range is pleased to advise that RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) has been granted all necessary regulatory and government approvals for rig 18. This is the second of the new drilling rigs which have been added to their drilling fleet and has the capability to drill to a depth of approximately 1,500 metres.

Range has contracted rig 18 to drill the LD-1 well which is the next development plan in the 2016 development drilling programme. The rig is on location and Range has received the required approvals to drill the well from Petrotrin and the Ministry of Energy and Energy Industries. It is currently anticipated that the well will spud later this month.

LD-1 is located at Morne Diablo field and will be drilled to a target depth of 2,500 feet targeting the Lower Forest and Upper Cruse horizons. Range has previously advised that the next well scheduled was to be LD-3; however, this has been replaced in the schedule by LD-1. The LD-1 well will be drilled to the same approximate depth, albeit this is a vertical well (as opposed to the LD-3 well which was a directional well), so it will be drilled at a lower cost and over a shorter period. Range believes that the forecast realised production from the LD-1 well will be broadly similar to that anticipated from LD-3 and the change of well is expected to have no impact on the Company's stated production target.

LD-1 is the third development well to be drilled by Range this year in Trinidad. The remaining scheduled wells include one further development well in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block. A further announcement will be made upon spudding of this well.

Range continues to assist RRDSL in obtaining the necessary certification and approvals for the remaining two new drilling rigs which are anticipated to be received during Q3 2016.





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 Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

New well spuds in Trinidad

RNS


RNS Number : 6294G

Range Resources Limited

09 August 2016




New well spuds in Trinidad

Range is pleased to advise that following the announcement on 4 August 2016, the LD-1 development well (renamed QUN 159 well) in Trinidad successfully spudded on 8 August 2016.

The well is drilling ahead to a total depth of 2,500 feet, expected to take approximately two weeks to reach target depth. It is located at Morne Diablo field and is targeting the Lower Forest and Upper Cruse horizons.

The well is being drilled by RRDSL (a wholly owned subsidiary of LandOcean Energy Services Co., Ltd) using 1,500 metre rig (rig 18), which has recently been granted all necessary regulatory and government approvals.

LD-1 is the third development well drilled by Range in Trinidad this year. The two previously drilled development wells (MD-250 and MD-251) are planned for production testing during this month and are expected to be brought into production during Q3 2016.

The remaining scheduled wells include one development well in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block. Range continues to assist RRDSL in obtaining the necessary certification and approvals for the remaining two new drilling rigs which are anticipated to be received during Q3 2016.



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 Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Trinidad Drilling Update

EQS



Range Resources Limited (RRL)
Trinidad Drilling Update

30-Aug-2016 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.




Trinidad Drilling Update

Range is pleased to confirm that the QUN 159 well which was spudded on 8 August 2016 has reached target depth of 2,500 feet. This is the third development well drilled by Range in Trinidad this year. The well is located at Morne Diablo field and was targeting the Lower Forest and Upper Cruse horizons.

Preliminary analysis of the well indicates approximately 40 feet net oil pay. The programme to perforate the well has been approved by the government and Range intends to proceed with production testing of the well during early September.

Production testing on the two previously drilled development wells (MD 250 and MD 251) is also underway. All three wells are expected to be brought into production during Q3 2016.



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 Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Colombia update
Further to the Company's announcement on 1 September 2016, Range confirms that a comprehensive response was submitted to Agencia Nacional de Hidrocarburos ('ANH') by the consortium, Range and Optima Oil Corp. ('Optima') on 7 September 2016. This response addressed the numerous areas in which Range and the consortium object to the demand which was received from ANH.

Range confirms that it has no material assets located in Colombia and had nil value attributed to its assets in Colombia on its balance sheet as at 31 December 2015.

In addition to the ongoing work with legal advisers in Colombia, Range has sought advice from its Australian advisers regarding the ability of ANH to try and enforce a claim against Range in Australia (where Range is incorporated). The Company's legal advisers confirm that there is no provision in Australian law to enable either judgments of Colombian courts, or administrative orders of ANH to be recognised in Australia. If ANH did seek to make any claim in Australia it would be required to commence court proceedings in the Australian courts and to prove its entitlement to such claim. Range would have the right to defend such claim. To confirm, Range has not received any claim from ANH in Australia.

The Company continues to work with Optima and legal advisers to defend its position to the maximum extent possible and is considering what further action can be taken to challenge the actions taken by ANH. At this time Range cannot provide any indication of the likely timeline for any resolution to this matter. The Company will continue to update the market on any material developments as appropriate.

StockMarketWire.com
Range Resources advises that that the QUN 158R (renamed QUN 160) development well in Trinidad successfully spudded on 9 November 2016.

The well is located in the Morne Diablo field and is drilling ahead to a total depth of 2,600 feet, expected to take approximately 3 weeks to reach target depth.

The QUN 160 well is the fourth development well drilled by Range in Trinidad this year.

The well is a re-drill of the previously drilled QUN 158 well, targeting the same Upper Cruse and Lower Forest sands.

The well is being drilled by RRDSL using the 1,000 metre rig, which has been granted all necessary regulatory and government approvals in November 2016.

The GY218 SE well located in the Beach Marcelle field is the last well from the five-well campaign to be drilled this year.

The well will be drilled by RRDSL using the 2,000 meter rig, which is currently being prepared for regulatory and government approval.

The well location has been completed and the rig is already rigged up on location. The well is expected to spud by early December 2016.

Trinidad drilling program update
Range is pleased to announce that the QUN 160 development well in Trinidad that spudded on 9 November 2016 was successfully drilled to a total depth of 2,140 feet on 22 November 2016. The well was originally planned to be drilled to 2,600 feet, however it was decided not to drill below 2,140 feet as the main target (Upper Cruse formation) had been encountered at this depth and drilling of the additional footage would have contributed to an increase in drilling cost with little to no benefit.

During drilling, hydrocarbon sands and oil shows were encountered between 1,084 and 2,045 feet. The production testing is expected to commence at the beginning of December and is proposed to be completed in two stages, at depths between 1,012 to 1,271 feet (Lower Forest formation, stage 2) and between 1,794 to 1,963 feet (Upper Cruse formation, stage 1).

Range is also pleased to advise that the GY 218 SE well (renamed GY 681 well) located in the Beach Marcelle field successfully spudded on 1 December 2016. The well is drilling ahead to a total depth of 4,500 feet, expected to take approximately 4 weeks to reach target depth. The primary target of the well is the Lower Gros Morne formation located below 3,500 feet. Any success with the well is expected to open up other development opportunities for that reservoir and add to the geological knowledge of the area.

The GY 681 well is the last well from the five-well campaign to be drilled this year. The well is being drilled by RRDSL* using the 2,000 meter rig, which has been granted all necessary regulatory and government approvals in November 2016.

*RRDSL is a wholly owned subsidiary of LandOcean Energy Services Co., Ltd.

Trinidad Operational Update

The Company is pleased to provide an update on the progress of its operations in Trinidad with the following highlights:

· The exit production rate for 2016 in Trinidad has exceeded 800 barrels of oil per day ("bopd"), a 40% increase from exit rate for 2015;

· The GY 681 well successfully drilled in December 2016 with encouraging log evaluations indicating over 230 feet of an estimated net pay. Production testing to commence this month;

· The QUN 160 well drilled in November 2016 has been put on production; and

· Production at the Morne Diablo waterflood project has commenced on schedule during Q4 2016.

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Quarterly activities report