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

lol. What are you drinking tonight. :-))

Watered down jam!! :o)

General electric has 10.1 billion shares kim. We only need to issue another 6 billion then we are in front. lol

Range Resources targets Trinidad oil production growth
Friday, May 17, 2013 by Bevis Yeo




Range Resources (ASX: RRS) is poised to grow its Trinidad oil production with operations to complete a well that intersected one of the thickest Lower Forest pay sections encountered to date.

The QUN 141 well is currently being completed with logs indicating 160 feet of gross oil pay while drilling is currently underway on the QUN 142 well that directly to east and expected to encounter the same well-developed oil pay.

Further development on the Lower Forest pay includes the evaluation of a possible re-activation of the QUN 16 well, which previously produced up to 145 barrels per day of oil during a one week test.

QUN 16 well was drilled and tested in 1942 and logged thick oil sands that correlate with the Lower Forest reservoirs being completed by the company about half a mile to the west.

Re-activation of the QUN 16 well will be performed using one of the company’s production rigs, which have recently returned to operation following the receipt of necessary approvals.

This has the potential to not only add new reserves and production but also extend the Lower Forest trend to the east of the QUN 16 well and establishing a large area for low-risk infill drilling between the well and the current Lower Forest development at a relatively modest cost.

In addition, Range is expecting several production rigs to be placed back into operation within the week to begin remedial work on up to 20 existing wells, which could increase production by an additional 100 barrels to 150 barrels per day of oil.

Depending on the type of workover required, individual wells are estimated to require an average of 1-2 days to perform the necessary remedial work.

Lower Cruse Formation Drilling



Range continues to make steady progress in drilling the MD 248 well towards its target depth of 6,500 feet.

MD 248 well is currently at a depth of 5,425 feet and had encountered a ‘drilling break’ along with multiple gas shows requiring mud to be conditioned properly.

The shows are encouraging as they are usually associated with oil sands consistent with the Morne Diablo field.

Middle Cruse Formation Drilling

The company is currently preparing a completion procedure designed to maximise recovery from the multiple pay zones encountered by its QUN 135 well in the Lower Forest, Upper Cruse, and Middle Cruse sections.

This could include the possibility of perforating and producing the Upper Cruse pay zone while evaluating potential stimulation of the Middle Cruse.

Range is still assessing the applicability of formation stimulation in QUN 135, including a possible mini hydraulic fracture stimulation, which has been successful in other fields in Trinidad.

If successful, low-cost stimulation technology could lead to higher initial production rates and greater recoveries from the established producing horizons.

Based on historical production rates seen from the Middle Cruse formation, a successful well at this location could potentially have initial production rates of up to 200 barrels to 300 barrels per day of oil, which could be further enhanced with mini-hydraulic fracture stimulation techniques.

Other developments

Range is in the final planning stages of a new development program in the South Quarry field following the recent receipt of approvals for the construction of four initial well pad locations.

Operations will commence with site construction and fabrication of equipment to support the drilling, which is expected to start towards the end of June or early July.

Previous drilling campaigns have yielded higher than average rates and recoveries due to increased geopressure in the area.

Given the proximity to established production, the South Quarry program has a high probability of boosting production, while extending the producing trends and establishing multiple locations for future drilling.

Range has also received environmental approvals to proceed with the deepening of six wells at its Beach Marcelle licence.

It will now mobilise a production rig to test and prepare existing well bores in anticipation of deepening those wells to recover Proved Undeveloped Reserves, estimated at up to 90,000 barrels of oil per well at costs significantly lower than drilling and completing new wells.

New Technology

Range continues to evaluate exploration, drilling, completion, and production technology to maximize recovery of oil and gas from its producing areas at the lowest cost possible.

This includes mini-fraccing as well as horizontal drilling, which could increase initial production rates by between 5 and 10 times in suitable reservoirs.

Guatemala

Range associate Citation Resources (ASX: CTR) is preparing to test the two most prospective oil bearing reservoir units at the Atzam-4 well in Guatemala.

Flow testing of the C13 and C14 carbonates, which demonstrated strong oil shows during drilling, is expected to start within two weeks.

Some potential pay zones in the C16 and C17 sections will also be tested.

Citation had made the decision to test the two units instead of carrying out further testing of the Lower C17/Upper C18 carbonates that had experienced unexpected gas production following a technical review.

In addition, the operator plans to install a gas separator on the electrical submersible pump for further evaluation of the oil production potential from Lower C17/Upper C18 after testing of C13 and C14 is completed.

These had produced oil at an initial rate of 50 barrels per day with limited ESP performance due to gas production.

Ralph E Davis and Associates (RED) have estimated that Atzam-4 holds Probable Reserves of 2.3 million barrels of oil based on the results of the logging and the analytical work completed by Schlumberger.

Range has a 19.9% strategic interest in Citation, which holds 70% in Latin American Resources (LAR), as well as a direct 10% interest in LAR.

LAR in turns holds between 80% and 100% in the two oil and gas development and exploration blocks in Guatemala.

Analysis

Range Resources continues to make progress in its goal of increasing oil production from its Trinidad operations and looks set to pen in a marked production increase in the short term.

With the proposed merger with International Petroleum, this will place the combined company in an even stronger position with strong production, reserves and exploration upside.

another red day so far

We do not need many more.

Range Resources predicts production growth
Wed 22 May 2013


Range Resources predicts production growth LONDON (SHARECAST) - Range Resources said it is well positioned to grow production as it plans to merge with International Petroleum to build an AIM- and ASX-listed oil and gas company.

The acquisition of International Petroleum is expected to bolster Range’s current production by 300% to 76m barrels of oil equivalent (mmboe) of 2P reserves (proven and probable) and by 750% to 233m barrels of 3P reserves (proven, probable and possible).

International Petroleum’s oil and gas projects in Kazakhstan and Russia will combine with Range’s Georgian exploration properties.

Chief Executive Officer of International Petroleum, Chris Hopkinson, said he expects the merger to be completed in September.

He will take the helm of the newly merged company, which will focus exploration
in Trinidad, Russia and Africa.

In Trinidad, the QUN 141 well is being completed with logs indicating 160 feet of gross oil pay. Drilling is also currently underway on the QUN 142 well which is expected to encounter the same well-developed oil pay.

Hopkinson said the company was able to keep a tight rein on costs as it owns its own operating and drilling subsidiary in Trinidad.

In Russia, the firm is waiting for the “big freeze” to access towns that are surrounded by swamps in the summer.

The group plans to put an additional 10 wells into production, which are projected to increase output by 4,000 barrels of oil per day (bopd). Another 20 well targets have also been mapped.

Cashflows from Trinidad and Russia will then be used to fund exploration opportunities in Africa.

“We have an advantage over other mining companies in Africa because we have the cash flow and resources to back exploration. It gives us a huge leverage,” Hopkinson told Digital Look and Sharecast.

International Petroleum recently acquired exploration assets in Niger, Africa which covers 7,000 square kilometres of highly prospective and underexplored land in the Western Central African Rift System.

Range has received commitments for an AU$20m placement from major funds and institutions which will provide a secured loan for the assets which will complement the company’s current portfolio.

Hopkinson added the merged company expects to make £150m a year profit by 2016.

He also said it would consider exiting the ASX to become solely AIM-listed once its market capitalisation reaches around £250m. Range currently has a market cap of £82.76m on AIM.

Shares in Range fell 2.5% to 2.93p at 15:18 Wednesday.

Market still not convinced at this time.

Lol

Put on the company site today -

historic bid round Story Created: May 17, 2013 at 9:09 PM ECT The Ministry of Energy has launched its 2013 Trinidad and Tobago Onshore Bid Round for oil and gas exploration. It was formally launched on May 16. The opening of the bid round was marked by the publishing in the Gazette of the Petroleum Regulations (Onshore Competitive Bidding) Order, 2013. This marks the official start of the bidding for three exploration and production licences, the ministry said in a statement yesterday. Approximately 150,000 acres of State lands in Trinidad’s Southern Basin are being offered. These consist of the Rio Claro Block (74,954 acres), the Ortoire Block (44,731 acres) and the St Mary’s Block (37,760 acres). “The bid acreage offers a range of opportunities related to block sizes, production potential and hydrocarbon play types. There is a wealth of well and seismic data that should reduce the risk and time of exploration, and the blocks are located in a proven commercial hydrocarbon province, within close proximity to existing infrastructure and producing fields. Trinidad and Tobago has been commercially producing oil from its land acreage since 1908,” the ministry stated. The successful bidder(s) will be issued exploration and production licences and will also enter into a joint operating agreement (JOA) with State-owned oil company Petroleum Company of Trinidad and Tobago (Petro- trin). Petrotrin will also have a 20 per cent carry in all three blocks on offer, it added. Trinidad and Tobago has its own oil refinery, which is owned and operated by Petrotrin. Its current throughput is in the region of 165,000 barrels per day. The 2013 Onshore Bid Round will close on August 30. Minister of Energy Kevin Ramnarine said yesterday: “The 2013 onshore-based bid round is historic in that it is the first dedicated land-based bid round launched by the Ministry of Energy and Energy Affairs since the late 1990s. That bid round led to the Carapal Ridge discovery, which is now the Central Block, operated by BG. “It is expected that there will be a high degree of interest in this latest onshore bid round from both companies already operating in Trinidad and Tobago, and new entrants.” Details on the bid round and the bidding process can be found at the ministry’s website at www.energy.gov.tt or e-mail: tobr2013@energy.gov.tt.

If only Range could sell updates and words we'd all be rich..... :))

Page 8-9 RRL

http://www.miningmaven.com/pdf/TheRig2013.pdf

Guatemala Update

Range Resources Limited ("Range" or "the Company") would like to draw attention
to the announcement released by Citation Resources Limited (ASX: CTR) on the
current flow testing program on the Atzam #4 well in Guatemala (in which Range
has an indirect attributable interest of 24%).

Citation Resources has announced that following a technical review program on
the Atzam#4 well undertaken with Schlumberger, flow testing of the C13 and C14
carbonate sections of the well has commenced with the perforation of these
zones currently underway with flow testing of the target zones expected to
commence shortly. The C13 and C14 carbonate sections in the well are considered
the most prospective oil bearing reservoir units in the well based on the
electric log data, and independently confirmed following review of all the well
data by industry experts including Schlumberger.

Further details are contained in the Citation Resources announcement, which can
be accessed at:
http://www.citation.net.au/media/articles/ASX-Announcements/20130530-Atzam-4---Project-Update--207/1225714.pdf


Yours faithfully


Peter Landau
Executive Director

Range Resources: Testing starts on Atzam 4 well in Guatemala
By Proactive Investors May 30 2013, 9:08am Range Resources: Testing starts on Atzam 4 well in Guatemala

Range Resources (LON:RRL, ASX:RRS) highlighted that testing has started on the Atzam 4 well in Guatemala.

The AIM quoted firm has a 24% indirect interest in the well, via its shareholding in Resources (ASX: CTR).

Citation’s 70% owned associate Latin American Resources has started flow testing the two most prospective oil bearing reservoir units in Atzam-4.

The C13 and C14 carbonate sections in the well were considered the most prospective oil bearing reservoir units in the well based on the electric log data, and independently confirmed following review of all the well data by industry experts, including Schlumberger.

Both zones are the main producing zones at the Rubelsanto Field just 17 kilometres to the northeast that has flowed over 30mln barrels of oil to date from eight wells.

Following completion of testing, the plan is to install a gas separator on the electrical submersible pump for further evaluation of the oil production potential from Lower C17/Upper C18.

These sections had produced oil at an initial rate of 50 barrels per day with limited ESP performance due to gas production.

Ralph E Davis and Associates (RED) have estimated that Atzam-4 holds Probable Reserves of 2.3 million barrels of oil based on the results of the logging and the analytical work completed by Schlumberger.

Significant Initial Oil Production Establishes Commercial Atzam #4 Well in Guatemala

Range Resources Limited ("Range" or "the Company") is pleased to announce the
following update with respect to its stake in Guatemalan project (in which
Range has an indirect attributable interest of 24%), released by Citation
Resources Limited (ASX:CTR) today:

- Initial 7 foot section (2846-2853ft.) perforated in the Upper C17 carbonates
has produced significant oil and gas to surface immediately post perforation;

- Flow rate of 610 bopd established over 24 hour period - average of hourly
flow rates using varying choke sizes with a recorded peak of + 1,000 bopd;

- No acid wash or reservoir stimulation used flow rate generated by natural
reservoir pressure;

- Oil cut of 99% from producing zone, with strong gas flare;

- Good quality 29° API oil, with calculated natural reservoir pressure of 1300
psi;

- Pressure gauges will now be used to confirm the reservoir pressure reading
from the producing C17 zone to establish updated resource estimates for the
Atzam Project and Atzam #4 well;

- Current Probable Reserve estimate of 2.3m barrels of oil in Atzam #4 well
alone, to be revised on results;

- Production is being stored in onsite tanks - commercial sales of production
to commence; and

- Net backs in Guatemala approximately 50% of the WTI market price -
favourable economics; and

- Highly prospective 13ft. zone in Upper C17 and the C13 and C14 carbonate
sections that are the producing units in the Rubelsanto Field - remain
untested due to the high pressure oil and gas production from perforated zone
- will be perforated in future well production operations.

Very little interest on the ASX,+1%?

Nevertheless, up 12% here, with very heavy volume.

only another 12p needed until i break even. Though any rise gratefully received.
GL to all who still hold

Alex

We need it robertalexander. :-))