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 announced a subscription for new ordinary shares to raise £1m before expenses.

Pursuant to the subscription, the company will issue 909,090,910 new ordinary shares at a price of 0.11p per new ordinary share.

The proceeds of the subscription will be used to accelerate the growth strategy of the company's current assets in Trinidad, with a view to further increasing production and cashflow.

CEO Yan Liu commented: "We are pleased to be able to commit this additional funding into infrastructure upgrades at our Trinidad assets.

"This will enable us to continue production growth and allow us to further develop our significant assets with a view of unlocking the full potential of our reserves base in the years ahead.

"With an active ongoing work programme, we are focused on delivering on our key objectives geared towards production growth to 1,000 bopd target and increasing cashflows.

"We look forward to demonstrating progress to our new and existing shareholders."