.

Print Friday 13 May, 2011Range Resources LTD
LOI Signed with Drilling Subcontractor for Punt...

13 May 2011

The Manager

Company Announcements

Australian Securities Exchange Limited

Level 6, 20 Bridge Street

SYDNEY NSW 2000

By e-lodgement

LETTER OF INTENT SIGNED WITH DRILLING SUBCONTRACTOR FOR PUNTLAND

Range Resources Limited ("Range" or "the Company") is pleased to announce that
its joint venture partner and operator Africa Oil has signed a letter of intent
with a drilling subcontractor, paving the way for the milestone exploration
well in Puntland to be drilled in Q3 2011.


Yours faithfully

Peter Landau
Executive Director

Contacts

Get some in..

exactly!! i would not wanna be outta rrl this weekend!!!

oh no not again......

.

lol & lol!!

as del boy would say 'you know its makes sense'!

.

I'm well in......think i maybe stuck.,.

.

lol.,.

yeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaa folks! you know it makes sense!!

should be blue today imo

some info

http://sharepedia.co.uk/index.php?title=Range_Resources_Ltd


1 Introduction
2 Investor Information
2.1 Number of Shares in circulation
2.2 Major Shareholders
2.3 Presentations
2.4 Finance
2.5 Reports & Accounts
2.6 Broker Notes
3 Projects
3.1 USA
3.1.1 North Chapman Ranch
3.1.1.1 Smith #1 well
3.1.1.2 Russell-Bevly #1 well (20% WI)
3.1.1.3 Work programme
3.1.1.4 NAV per share
3.1.1.5 Summary
3.1.2 East Cotton Valley
3.2 Nav
3.3 Puntland
3.3.1 Background Information
3.3.2 Geology
3.3.3 Puntland Blocks
3.3.4 Nugaal PSA
3.3.5 Dharoor PSA
3.3.6 Political Risk
3.3.7 Work Programme
3.3.8 NAV
3.3.9 Summary
3.4 Georgia
3.4.1 Nav
3.5 Trinidad
4 Fundermentals
5 RNS History
6 Expected News
7 Newspaper/Online Articles
8 Further reading
9 References

Introduction
Range Resources Limited ("Range" or "the Company") is both an ASX-listed (ASX: RRS) and AIM-listed (AIM: RRL) exploration and production Company, with its principal activities directed towards finding and delineating hydrocarbons in Puntland, Somalia; the Republic of Georgia, onshore Texas, USA and Trinidad.

With the planned onshore exploration drilling program in Puntland and Georgia coupled with the exploration and development programs in Texas and Trinidad, Range is well on its way to establish itself as a diversified international oil and gas exploration, development and production company with significant upside potential.

Investor Information
Number of Shares in circulation

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Range Shares In Issue 1,876,079,782 (As of 10th May 2011)

Ordinary Fully Paid Shares (RRS) 1,604,916,462
Listed Options (RRSO)- (Dec 2011) 207,131,125
Unlisted Options (June 2015) 855,166
Unlisted Directors Options (Dec 2011) 60,000,000
Unlisted Options (June 2012) 3,177,029
Major Shareholders

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Top 20 Shareholders as at 27 September 2010

1 Computershare Clearing Pty Ltd 790,474,838
2 JP Morgan Nominees Australia Limited 22,810,844
3 Mr David Scanlen 20,002,187
4 Citicorp Nominees Pty Limited 15,563,310
5 Erine International Limited 15,506,298
6 Mr Pieter Hoekstra & Mrs Ruth Hoekstra 9,800,000
7 HSBC Custody Nominees (Australia) Limited 6,927,702
8 Doull Holdings Pty Ltd 6,250,000
9 Mr Gilbert Gavars 6,001,916
10 Consort Private Limited 5,000,000
11 Mr Mohamed Hersi 4,650,099
12 Merrill Lynch (Australia) Nominees Pty Limited 4,396,534
13 DRN Redfern 4,166,667
14 National Nominees Limited 3,831,720
15 Mr Dominic Redfern 3,623,971
16 J P Morgan Nominees Australia Limited 3,475,907
17 J & J Bandy Nominees Pty Ltd 3,000,000
18 Mr Peter Charles Morey & Mrs Valmai Ann Morey 2,975,514
19 Mrs Christine Veryinis 2,759,000
20 Mr Edward Arnold Bond & Mrs Qun-Li Bond 2,574,867
Presentations
4th March 2011
Jan 2011
Africa Oil

Africa Oil April 2011
Red Emperor Resources

Finance
Reports & Accounts
Annual Financial Report 2010
Annual Report 2009
Annual Report 2008
Annual Report 2007
Annual Report 2006
Annual Report 2005
Annual Report 2004
Annual Report 2003
Broker Notes
March 2011 Edison Broker Note
Feb 2011 Old Park Lane - Georgian Helium Survey Results
Jan 2011 Old Park Lane - Quarterly Report
Jan 2011 Old Park Lane - Puntland firmly on track
Dec 2010 Edison note
Nov 2011-Old Park Lane - Georgia on our minds
Jan 2010 SVS Securities Research note
Projects
USA
North Chapman Ranch

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Background

The North Chapman Ranch project area encompasses approximately 1,680 acres in one of the most prolific oil and gas producing trends in the state of Texas.

Imagery 2011 GeoEye, Texas Orthoimagery Program - Terms of UseMapTerrainSatellite
Show labels
The North Chapman Ranch is situated within the prolific Frio producing trend just north of the Chapman Ranch in the Mobil David and Doughty Fields. The Mobil David field was discovered in 1965 when Mobil drilled the Chapman #1B well and completed the well in the Laureles Sand (now the Howell Hight). To date, an estimated 250 billion cubic feet of natural gas and more than 10 million barrels of oil have been produced from this field, primarily from the Anderson sandstone. Recently, several operators in the area have been successfully developing the deeper Howell Hight formation with some wells exhibiting flow rates in the 6-9 million cubic feet per day range.[1]

Name of well Smith #1 Russell-Bevly #1
Spud date 4 September 2009 12 May 2010
Range working interest 25% 20%

Events

This exploration was compeleted within 10 months.

Dec 2009 - Commercial discovery from Smith #1 Well
Jan 2010 - Production commenced
May 2010 - Independent reserves and valuation released
May 2010 - Multi-well programme commenced with spudding of second well Russell Bevly
May 2010 - Multi-well programme commenced with spudding of second well Russell Bevly
Sep 2010 - First production (Russell Bevly)
Smith #1 well
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"Geologic Map of Texas"The Smith # 1 exploration well was spudded on 4 September 2009. On 12 November 2009, the well reached its target depth of 13,975 ft. (4,260m).Based on open-hole logs indicating approximately 120' (37m) of net pay thickness in three zones with no water, 4 " production casing was run to target depth and cemented in place. One of the three zones was perforated and after an interval of just 20' (6.2m) bottom-hole pressure was estimated to be approximately 11,650 psi.

Testing of the Smith #1 well confirmed a commercial discovery in December 2009, with first production and sales occurring in February 2010.

Frac perforated on March 18 2011 and this zone currently flowing at more than 1.3 MMcfd. Smith #1 well and frac the upper zone.

Initial production from the middle of the three zones flowed naturally.

Hydraulically fracturing the reservoirs is expected to create additional permeability paths from the reservoir to the well bore that should sharply increase initial rates from all zones, which in turn will accelerate payout while improving reserve recovery and overall economics.

To date, Gross production for the quarter from the Smith #1 well has been approximately 73k MMcf of natural gas and 5,350 bbls of oil.[2]

Russell-Bevly #1 well (20% WI)
In June 2010 Ranage Resources announced that the Rusell Bevly #1 weel reached its target depth of 14,225ft and based on open hole logs indicated 40metres of net pay thickness in four zones with no water.

The well averaged 1.3 MMcfd and 104 Bopd during the month of September from just 11 ft. of perforations in one of four identified pay zones totalling roughly 130 ft in thickness. Early October results have already increased to approximately 1.8 Mcf and 140 Bopd over the same zone following the increase of well head pressure.


"Frac Russell-Bevly #1 well"Range announced in Feb 2011 that preparations have begun on site in anticipation for the arrival of the team to perform the fracture stimulation on the Russell Bevly Well (Range 20% interest) at the North Chapman Ranch Project in Texas.The fracture stimulation is expected to significantly increase hydrocarbon flow rates and recoveries from the well.


"Frac Russell-Bevly #1 well"In March 2011 Russell Bevly # 1 well had begun to stabilize following the successful fracture stimulation of the lower two zones.The production rates were consistent and will the targeted rate of 4 MMcfd & 320bopd per well. This is based on current production of approximately 1.9 MMcfd & 160 bopd from the lower two zones.

Work programme
The company will also participate in two further appraisal wells in the current year.The next well scheduled to be spudded will be the Albrecht #1 well, located approximately one mile southeast of Smith.

Albrecht will spud in July 2011 and negotiations are also underway to drill a second well back to back after Albrecht. Ranges share of drilling costs is estimated to be $0.9m - $1.1m per well, all of which can be funded from existing cash.

Range is confident that each production well on North Chapman has the potential to yield rates of 5- 6mmcf of gas and 450bbls of oil on a gross basis. On a reserves basis, a single well has the potential to produce 5.2BCF of gas, 400,000 bbls of oil and 377,000 of NGLs over the entire life of well net to Range.[3]




NAV per share
North Chapman Ranch US $106million 3.5p [4]
Summary

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Range holds a 25% interest in the initial Smith #1 well and 20% interest in further wells on the North Chapman Ranch project,Texas.
Drilling of the first well has resulted in a commercial discovery with independently assessed gross recoverable reserves in place (on a 100% basis) of 240 Bcf of natural gas, 18 mmbbls of oil and 17 mmbbls of natural gas liquids.
East Cotton Valley

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Building on its success at North Chapman Ranch, the Company acquired an initial 13.56% interest in approximately 1,570 gross acres encompassing a recent oil discovery located in Red River County, Texas, which was subsequently moved to 21.75% in January 2011.

On 27th of April 2011, Range announced it had reached total depth in its Ross 3H exploratory well, the Company's first horizontal drilling venture. Located in Red River County, Texas, the well reached a total depth of 8,900 ft (2,715m exceed target by 215m), with a horizontal section of approximately 3,400 ft (1,040m).[5]

Range will report back to the markets on flow rates once fraccing has been completed.

If the latest well is successful, Range has plans to participate in a 20 well development programme at a cost of $0.3m per well net to Range. The company estimates that a vertical well has the potential to produce approximately 200,000bbls of oil over its life.[6]

The East Texas Cotton Valley oil accumulation was discovered in March of 2008 with the drilling of a vertical well to approximately 5,500 ft. The initial well encountered more than 100 ft. of gross oil pay at approximately 5,300 ft and was immediately placed into production. A horizontal appraisal well spudded in December of 2008 encountered good quality reservoir in a lateral section approximately 1,500 ft. long, but was badly damaged during completion.[7]

Nav
East Cotton Valley $16m - 0.5p[8]

Puntland

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Background Information
Farm out

Puntland is a JV with Range Resources farming out 20% to RER.The farm-out of a 20% interest in each PSA to Red Emperor Resources provides upside for Range as Red Emperor will be required to pay a disproportionate share of the costs relating to the outlined drilling commitments. Red Emperor has an option but not an obligation to participate in the second exploration well on Nugaal so the total mitigation of Ranges exploration costs is not yet known.

Red Emperor Resources 20%
Africa Oil Corp. (Operator) 45%
Range Resources Limited 20%
Lion Energy Corp. 15%
Puntland is believed to have all the geological requirements to become a commercial oil-producing region. Somalia, and in particular Puntland, remains one of the last under-explored countries that has a high potential for considerable reserves of hydrocarbons which can be subsequently developed for the benefit of both the people of Puntland and Range Shareholders. The Company believes that through the generation of work and government royalties from hydrocarbon exploration and development numerous social and economic benefits will result.[9]


"Map of Puntland"Range entered into a Heads of Agreement in October 2005 to acquire a 50.1% interest in the sole and exclusive rights to all mineral and hydrocarbon exploration and development in the Somali state of Puntland. In July 2006, the Company reached an agreement to acquire the residual 49.9% interest in the rights to the exploration and development of Puntlands natural resources. Range has since relinquished its exclusive mining rights in the region.

In October 2006 Range signed a Memorandum of Understanding with Africa Oil in relation to an US$50m 80% farm in right in the Nogal Basin and Darin Basin Blocks. This has since resulted in a Joint Venture project being formalised between Range and Africa Oil which saw the formal signing of the Product Sharing Agreement between Range, Africa Oil and the Puntland Government take place on 17 January 2007. The formal signing of the PSA cemented the ongoing co-operative and committed relationship between Range, Africa Oil and the Puntland government and confirmed the willingness of all the parties involved to develop the natural resources of Puntland.

Somalia is situated in the most northeastern part of Africa; know as the Horn of Africa. The Democratic State of Puntland is located in the northeastern sector of Somalia and covers approximately 212,000km2. The area is believed to have all the pre-requisites to become a major oil producing province whilst its other mineral potential is largely unexplored.

Somalia, and in particular Puntland, remain one of the last under-explored countries that have high potential for vast reserves of hydrocarbons. During the late 1980s the State was divided into a number of concessions for oil exploration. Significant exploration was undertaken but this effectively ceased due to political instability that arose in 1991. The mineral potential has been investigated during the 2006 by Ranges team of geologists based in Bosasso on the northern coast .The geological work has identified the potential of large silver rich lead zinc deposits analgous to the Jabali deposit in southern Yemen.

Geology
The Nogal Valley and Dharoor Valley Blocks situated in northern Somalia cover the Nogal Basin and the Darin Basin, respectively.

Combined, the two blocks cover a very large area, with the Nogal Valley Block extending over approximately 12,849,479 acres, which encompasses the Nogal Basin. The Dharoor Valley Block extends over an area of 7,166,056 acres, encompassing the entire Darin Basin. These areas are very large and, with only 5 wells drilled, the area remains one of the least explored areas in North Africa.


"Puntland stratigraphy"The limited information indicates that reservoir quality rocks are present within the Nogal Basin. Of the five wells drilled in the Nogal Basin, images of partial well logs are available for two wells (Nogal 1 and Kalis-1). The drilling reports for these two wells indicated that the Jurassic sandstone targets were not reached but that oil shows were found in some of the shallower sandstones. Nogal --1 was drilled to a depth of 10,736 feet in 1990. Kalis-1 was drilled to at least a depth of 5100 feet in 1990 according to log images. The original plan for Kalis-1 was to drill it to a depth of 14,850 feet.


"Structural basin settings"There is insufficient data available at this time for the Dharoor Valley Block to assess the potential within the Darin Basin. The size and proximity to the Nogal Basin suggest that it has had a similar geologic history and, as such, should have similar prospectivity to the Nogal Basin. Future exploration will be needed in order to assess this large area to determine its potential.

Puntland Blocks

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"Puntland Blocks"Range Reosurces & PSA must must spud a minimum of one exploration well by 27 July 2011 in the Dharoor Valley. A second well is also required to be spudded in the Nugaal Valley before 27 September 2011, at the option of Africa Oil, the operator.

On May 13th 2011 Africa Oil signed a letter of intent with a drilling subcontractor,for a exploration well in Puntland to be drilled in Q3 2011.

Key Dates

Arrival of Rig & Team
Dharoor Valley - Spud Deadline - 27th July 2011
Nugaal Valley - Spud Deadline - 27th September 2011
One year contract extension until January, 2012
Nugaal PSA

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"Basin Pre Rift Millions of years ago "The Nugaal and Dharoor Blocks are located in the Nugaal and Darin Mesozoic basins in northern Somalia.The Mesozoic basins are interpreted to be extensions of the Marib-Shawba and Sayun-Masila Basins of Yemen.Prior to the opening of the Gulf of Aden in the Oligocene-Miocene,these areas were contiguous and similar sedimentary sequences and structural styles are likely.

The Nugaal Basin covered by the Nugaal Valley Block has been identified as having reservoir, source rock and trap potential.International oil and gas companies conducted exploration in the late 1980's in the region.

During this exploration phase,a grid of 2D seismic was shot perpendicular to the axis of the rift system in the Nugaal Basin.Based on interpreted maps this data shows a number of large, closed, fault-controlled structures.


"Current Basins"In addition, surface geology identified a number of oil seeps along the main basin-bounding faults.Wells drilled on the identified structures encountered numerous oil shows,however the wells (Nugaal-1 and Kalis-1)did not reach the main exploration target.

The basin fill is extremely thick, with more than 10,000 feet of sediments in some areas.The main target reservoir is the Jurassic-aged sandstones belonging to the Gabredarre Formation.These reservoir sandstones overlie the organic rich shales and marls of the Uarandab Formation, which is thought to be the source rock for the oil seeps observed along the boundary faults.The secondary reservoirs include the deep marine sandstones and shallow marine carbonates belonging to the Upper Cretaceous Gumburo Formation.The marine sandstones of the Jesomma Formation, also Upper Cretaceous in age, are also potential secondary targets. The Jesomma and Gumburo have isopach thicknesses of approximately 1,350 and 2,450 feet, respectively.[10]

The indications from the limited number of wells drilled in the basin are that the basins appear to be oil-prone.

Dharoor PSA

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The Dharoor Valley Block extends over an area of 7,166,056 acres,encompassing the entire Darin Basin.Insufficient data available for the Dharoor Valley Block to assess the potential within the Darin Basin.

However its similar to Nogal Basin.

Current Project Status

PSA are currently remapping Dharoor prospects for final prospect selection[11]
Political Risk

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Civil unrest
Loss of exploration licences
Security of Drilling teams
Security of Rig
Somaliland Invasion of Sool

The region of Sool, which contains the majority of the Nugaal block, was invaded by Somaliland forces in late 2007, an invasion that captured virtually all of the region save for the enclave of Cayn by 2009. Puntland issued extremely confident-sounding declarations that they would recapture Sool any minute, "massive armies were mustering", etc, though by springtime 2008 it was clear that Somaliland was not going anywhere anytime soon. In April 2008, Africa Oil announced that as a result of the "deterioration of the security situation in parts of Somalia" the implementation of the Nugaal drill program would be delayed.As they could not explore the actual area itself, the company instead purchased 2D survey data from the 1980s of the Nugaal Valley to analyze.

Work Programme

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Arrival of Rig
Spudding of Dharoor Valley well by 27th of July 2011
NAV
A Nav valutaion based on Range Resources share in puntland.


"Summary

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Range holds a 20%interest in 2 on shore basins
Potential replica of the 5Bbbl10Bbbl hydrocarbon basins in near by Yemen
CPR from Africa Oil 2009 stated est Gross Oil-in-Place (attributable to Range):
1.2Bbbl Dharoor
2.5Bbbl Nugaal
Puntland government ratification of onshore PSAs received in December 2009.
Exploration wells targeting oil in place of ~1 billion barrels with estimated recovery of 40%
Africa Oil mobilise rig in readiness for first well proposed spud
Range in a good position to acquire off shore licenses.
Georgia

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Background Information

Range entered into a Heads of Agreement with unlisted UK company Strait Oil and Gas Limited (Strait) to acquire a 50% interest in two oil and gas blocks in the Republic of Georgia, Eastern Europe.


"Georgia Licence Blocks"The two blocks Blocks VIa and Vlb cover a contiguous area of 7,000 sq km (approx 10% of the surface area of the Country) and were subject to significant exploration in the Soviet era.Please refer Figure 1 for outline of block locations.

Oil seeps are widespread in Georgia, with exploration in the country have commenced during the 19th century, by exploitation of the surface seeps and shallow drilling beneath them. The first substantive discovery, the Supsa Field near the Black Sea, was made in 1889 and still produces small amounts of oil today.

Georgia is a reasonably well established hydrocarbon producing province with a number of discoveries and seeps along the Greater Caucasus and Achara Trialet frontal folds, which are present along the northern and southern margins of the two licenses, where there are numerous oil and gas seeps.

There have been a number small to medium discoveries to date, with the largest being the Samgori field, which was discovered in 1974 and has produced more than 165mmbbls to date, with an estimated 200mmbls of recoverable reserves. The trend of oil discoveries in Georgia confirms the presence of a working hydrocarbon system that extends from Georgia into the Black Sea

Very few of the approximately 200 wells were drilled with the specific objective of finding oil and gas reservoirs. Certain wells were drilled to relatively shallow depths, to further define structural features identified from surface geological mapping, and to assist in planning the location and design of water reservoirs.


"structural culminations"RPS has identified a total of 68 structural culminations across the two blocks (refer to figure each of which potentially contains stacked reservoirs. Total combined best estimate of gross unrisked oil in place across these 68 indentified structural culminations amounts to 2,045 million barrels.

Recovery factors for oil in place can be conservatively estimated at 30%.

In addition to the oil potential of the Blocks there are numerous prospective gas fields, which include highly prospective natural gas and coal bed methane targets. Of the 161 wells drilled for gas, 22 displayed potentially commercial flow rates. Early production could be attained by supplying the local city of Kutaisi (second biggest in Georgia) with a dedicated natural gas supply.

Range/Strait commenced unique and proven helium survey on 3 top drilling locations in Georgia this was carried out in late 2010.

Red Emperor farm-in

On 10 January 2011, Range and its partner in Georgia, Strait Oil & Gas UK Limited announced that they had signed a Heads of Agreement with Red Emperor Resources (ASX: RMP) to acquire a 20% farm-in interest on both Georgian blocks comprising a 10% interest each from Range and Strait. This agreement will see Red Emperor contribute 40% of the drilling costs of the planned two well programme, capped at a cost of US$14m (RMP to contribute US5.6m) in order to acquire its 20% interest.

Range has made strong progress in Georgia over the last six months. The company has received the seismic interpretation report on Blocks VIa and VIb, from independent consultant RPS Energy which has identified 68 structures across both blocks which could potentially contain 2,045mmbbls of oil in place. The recovery factor for oil in place has been conservatively estimated at 30%. RPS has identified and prioritised six structures as ready for drilling. These are estimated to contain up to 728mmbls of gross un-risked resources in place. Range has since confirmed that Vani 3 and Kursebi 2 are most likely to be drilled in the first phase of the upcoming exploration programme.

Range and its partners have procured a drilling rig from Edeco Petroleum Services Limited in the UK which has been mobilised.

Timeline

Vani 3 to spud in June 2011
Kursebi 2 to spud in June 2011
The first well is anticipated to take 45 days with the second well on Kursebi 2 expected to be drilled back to back.The drilling programme is expected to cost $14m with RMP contributing 40% of the drilling costs of the two well programme.


"OIP"Nav

"NAV"Trinidad

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In April 2011 Range acquired rights to a 100 percent interest in companies whose wholly owned subsidiaries hold production licences for three blocks in producing onshore oilfields in Trinidad and a major local drilling company.

The production acreage and operating wells cover the Morne Diablo, Beach Marcelle and South Quarry oilfields, with the total acreage covering 16,253 gross acres on the southern coast onshore Trinidad. Current production from the fields is 700 bopd, however Range believes a minimal work program could lift production to more than 4,000 bopd within 36 months on the known reserves.

In addition to the two subsidiaries holding production licences for the onshore acreage, the proposed Range acquisition also includes the parent of a wholly owned drilling company (located in Trinidad), which owns five onshore drill rigs, three production rigs, one swab rig and a full workshop and pipe yard, storage tanks and facilities.

Importantly, Range will be carried through initial development expenditure. The company is planning to use company-owned drilling rigs and equipment and, with cashflow from existing production, is expected to be self-sufficient (other than a significant initial working capital injection of which Range will be carried) in its forward program which aims to increase the production from 700 bopd to 4,000 bopd within 36 months from known reserves without taking into account any exploration upside.

In addition to the known reserves, significant potential exists in the deeper Herrera Formation (refer below). The Deeper Herrera Formation will be a primary target of future drilling using company-owned drilling rigs, which are capable of reaching the depth of these formations.

Fundermentals
RNS History
Range Resources RNS History
Range Resources Australia
Red Emperor Resources RNS History
Africa Oil RNS History
Expected News
USA

Frac Completion of 2 wells
Spudding of new well
Georgia

Arrvial of Rig
Spudding of 1# well (June 2011)

Puntland

Moblisation of Rig (May/June)
Arrvial of Rig (Mid-June/Early July)
Spudding of 1# well(Before 27th July)
Trindad
Newspaper/Online Articles
May 2011

Range Resources' JV partner pens deal with contractor to drill well in Puntland
First-quarter production mainly flat for Range
Wells to Watch in May
‎ April 2011

Range Resources completes first Texas well
Range takes control of Trinidad licences
Range Resources Moves To Acquire 100 Per Cent Interests In Producing Onshore Trinidad Oilfields
Five Oil & Gas Stocks to Watch: Range Resources
‎

Further reading
References
1.↑ RRL Website May 2011
2.↑ Smith #1 well website
3.↑ NC - Old Park Lane Notes April 2011
4.↑ Old Park Lane Broker Notes
5.↑ 27th April 2011 RRL RNS
6.↑ OPLC Broker Notes April 2011
7.↑ East Cotton Valley-Range Resources website May 2011
8.↑ OPLC Range - Valuation Summary April 2011 Broker Notes
9.↑ Puntland-Range Resources website 2011
10.↑ Puntland-Africa Oil Website
11.↑ Africa Oil presentation 2011

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malfuction:

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"Vani 3 to spud in June 2011, Kursebi 2 to spud in June 2011.
The first well is anticipated to take 45 days with the second well on Kursebi 2 expected to be drilled back to back.
Spudding of Dharoor Valley well by 27th of July 2011 "
Why are you guys expecting fireworks now?

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Too right it would be nice! I also hold this stock.
But realistically........'nice' isn't really a stock market mover! I wish it was.
Spud and approach of TD will be the sp movers imo.

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Now you are making sense! ;o)

ok put fireworks back in cupboard, i'll just keep my roman candle out.,.