.

Just trying to find out how far away from TD we are now. ?

dc - PL has said the drilling will speed up as the drill gets deeper and the bore width
slims, so could be before 25th April or later if problems.



Found this from 11, saves working it out.

actually progress isnt too bad
we were told drilling to be 90 days, and it started on 17/Jan
so 3800/90 = 42.2m per day.

its been 12 days since the last update and we have achieved 31.8m per day

overall we have been drilling 63 days which is 70% of the 90 days and have reached 2384m which is 63% of the way to TD.

at this rate of drilling overall an average of 37.8m per day it will take us about 100 days to reach TD, so we are about 10 days over schedule so far so i expect TD to be reached about 25th April (at the current average drilling rate..)

Lets hope for a steady tick up to TD.

post 3095 - There are no results to report at this time" - The last rns said logging would start at the primary target 2400 - 2700 hence there are no results to report at this time.

Re: Timing... Thanks to Anthrazit 6 on 11




its a very quick and concise rns.
like its been quickly scrambled together.
i think the price has taken off and they have been obliged to release a statement - but obviously they wouldnt want to release a 'we know of no reason' type statement, have instead indicated that people can make up their own minds, but there is nothing to report yet as we are at 2384m.
clearly at 2384m the market is not expecting the target (not quite) so its a safe depth to report from, or to claim they are apparently at currently .... if they had reported at say 2500 and said there nothing to report then the market will trash the shares as we know we ar expecting oil at 2400-2700. and if they have found oil already they cannot just randomly report there is oil present as there is the political sensitivities to sort out first before news hits hard.

to me this is although short and consise, a positive news release and definately points to very cagey game going on here..!!
of striking oil i have absolutely no doubts, and have heard that locally, people are celebrating, although this could be to do with whatever deals the government has made with the elders to get this show on the road..

i certainly wont be selling, because at 2384m (and currently drilling ahead) - we will be into our target zone for definate in the next 24-48 hours.!

It could be an excellent post if the figures are accurate.....as far as local people celebrating they probably would only have heard about hydrocarbons being encountered or they might be more au fait than we are : difficult to assess....

Horn dipped on the news but has since picked up.

rf, I dont hold horn as I would think they are the most risky of RRL,RMP. If this does not come off, they will take a large hit.

Thought required fields remark regarding "has anybody got horn" was quite amusing - or is it the medication I am on to get over my problem, bringing me back to having a sense of humour.???? Nite All.

March 19, 2012 15:39 — 0 Comments
Puntland Leader Reaches Rako Raaho Village
In his second week of domestic negotiations with local clans, Puntland’s leader Abdirahman Mohamed Mahamud ‘Faroole’ has reached the town of Rako Raaho, his last stop in the newest peacemaking mission.


Rako Raaho, in the province of Karkaar, has been the scene of the worst land dispute in Puntland the last few years. The conflict has even spilled over into major cities like Bosaso in the northern Bari Province, and involved the usage of high-impact IEDs to target members of rival clans.

President Faroole will spend the night in Rako Raaho, under heavy security. The town’s mayor, Farrah Mahamud Ibrahim, welcomed Faroole alongside local clan elders and other civil society members in a traditional ceremony. This latest trip to Karkaar’s villages is the first time that the Puntland leader has visited the isolated communities off the main highway.

The end of this feud marks a new era in Karkaar and Bari, and will pave the way for future successes in the region.

Hirsi Fiqi, Editor

DissidentNation.com

Up 4.35% on the ASX

Rns out......drilling progressing...acquired offshore assets plus placing....12.5p....not too far down...this is not going to go bust !...that's for sure...

Good assets acquired- offshore Puntland into the distant future and Colombia which could prove a game changer. The next stage is hopefully decent updates on progress in Trinidad and Texas which underpin the share and then the icing on the cake of the Puntland drilling. I am not that bothered about Georgia which will kick off when the weather improves. RRL now has so many irons in the fire the time is coming when demonstrable value needs to be delivered. I am positive and likely to stay in for the long term.

Puntland Offshore
PRNW


20 March 2012

The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000

By e-lodgement

PUNTLAND OFFSHORE

Range Resources Limited ("Range" or "the Company") is pleased to announce that
it has entered into an Agreement with the Puntland Government with respect to
obtaining a 100% working interest in the highly prospective Nugaal Basin
Offshore Block (see below). The Block is an extension of the onshore Nugaal
Region which has the potential for deltaic deposits from the Nugaal Valley
drainage system and comprises over 10,000km.

The Company will commit to a 2D seismic program within the first three years,
with further 3D seismic and an exploration well to follow in the second three
year period. The Agreement is subject to a formal PSA being entered into and
all necessary regulatory approvals. Commercial terms will be similar to the
current on-shore PSAs.

As part of the entering into the Nugaal Offshore PSA, Range has committed
US$5m, for the tarmac sealing of an Airport Runway in Puntland at the
Government's direction.

It is Ranges intention to offer a participation interest to its joint venture
partner, Red Emperor Resources NL (ASX:RMP) on terms to be agreed.

CURRENT PUNTLAND WELL

The Shabeel-1 well on the Dharoor Block in Puntland, Somalia is currently at a
depth of 2,384m and drilling ahead. It is expected that casing will be run at
approximately 2400-2700m as dictated by the next electrical logging run. Target
depth remains at approximately 3800m.

COLUMBIA OPPORTUNITY

The Company is also pleased to announce that it is has secured a 65% farm-in
opportunity (350m of 3D seismic and 2 new wells) on two highly prospective
licenses in the on shore Putamayo basin in Southern Columbia. The finalisation
of the farm-in agreement is subject to regulatory approvals with full details
to be provided upon regulatory sign offs being obtained.

Following approaches from various parties in relation to its Texas project
interests, the Company is considering the potential sale of these interests
following the P1 and P2 reserve upgrade expected to be completed in April 2012.
In the event that such a sale is undertaken, the Company will consider several
capital management alternatives for the sale proceeds, including a return of
capital and an on-market share buyback.

STRATEGIC PLACEMENT

The Company is also pleased to announce a strategic institutional placement of
150m shares at £0.125 each to raise £18.75m. Importantly 100m of the shares
have been placed to a major US and European fund management group, with
considerable expertise in the oil and gas sector. Admission of the shares on
AIM is expected to be Tuesday, 27 March 2012 with Range's shares on issue then
being 2,271,766,648.

Range Managing Director Peter Landau commented; "Today's announcement is
significant in that we have demonstrated the next development path forward for
Range. A successful first well in Puntland will trigger increased interest in
the whole Puntland region and Range believes it has secured the most
prospective offshore block following previous work undertaken by Range in 2009
and 2010 which included a review of historical seismic and well data."

The proposed Columbian farm-in will see Range move into a highly prospective,
producing precinct in Southern Columbia and provide a very unique exploration
and production proposition when combined with our major Trinidad operations. .'

Yours faithfully

Peter Landau
Executive Director

Horn up 5%

http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Range_Resources_Red_Emperor_Resources_and_Chariot_Oil_Gas/a797cae0ac14.aspx


Range Resources (LON:RRL) slipped 8% to 14.25p during late morning trading after the company said it has entered into an agreement with the Puntland Government to obtain a 100% working interest in the highly prospective Nugaal Basin Offshore Block and also plans to raise GBP18.75 million via a share placing at 12.5 pence. Block is an extension of the onshore Nugaal Region which has the potential for deltaic deposits from the Nugaal Valley drainage system and comprises over 10,000km. Company will commit to a 2D seismic program within the first three years, with further 3D seismic and an exploration well to follow in the second three year period. Range has committed $5 million, for the tarmac sealing of an Airport Runway in Puntland at the Government's direction. It is Range's intention to offer a participation interest to its joint venture partner, Red Emperor Resources NL (RMP.AU) on terms to be agreed. Shabeel-1 well on the Dharoor Block in Puntland, Somalia is currently at a depth of 2,384 meters and drilling ahead. It is expected that casing will be run at 2400 meters-2700 meters as dictated by the next electrical logging run; target depth remains at 3800 meters

Read more: http://www.oilvoice.com/n/FoxDavies_views_from_the_trading_floor_Range_Resources_Red_Emperor_Resources_and_Chariot_Oil_Gas/a797cae0ac14.aspx#ixzz1pfwLI9LO

Down 10.42% on the ASX

Yes but on yesterdays news,which saw a drop in the SP here.

March 21, 2012 1:08 — 0 Comments
Somaliland to Cede Disputed Territories to Puntland
Just hours ago in a phone call to our Nairobi contact, we were made aware of a groundbreaking piece of information that may change the landscape of Northern Somali politics. Somaliland’s president may cede key territories to Puntland in a deal over oil exploration.


In an exchange that would effectively give Puntland total control of the Nugaal Valley basin, we’ve heard from our network in Kenya that Somaliland’s president is in negotiations with the Puntland leadership to hand over the disputed Sool and Sanaag provinces to the authority in Garowe.

Currently, Puntland controls a small strip in eastern Sool as well as the eastern half of Sanaag Province. The rest of Sool is disputed by Somaliland and a new movement known as Khatumo, meanwhile the western half of Sanaag is ruled from Hargeysa, the capital of Somaliland.

Puntland is currently well on its way to making progress towards the highly prospective Nugaal Valley basin, which is speculated to have billions of barrels of oil. Somaliland’s leadership is thought to have abandoned its hopes of exploring the volatile region, instead choosing to allow Puntland to finish the job in a deal that would distribute revenues to the regions of Somaliland. Puntland has stronger support from locals in the region due to clan ties, and will have an easier time delegating with locals on exploration goals.

This latest development stems from Somaliland’s recent reintegration into the Somali political process following the February 23 London Conference on Somalia. It’s a process that will soon see Somaliland presenting its own federal authority with which to take a role in the post-transitional Somalia. Furthermore, President Faroole of Puntland has made direct promises that oil revenues would be distributed to all of Somalia’s future federal states and the central government, easing worries that oil exploration would become a factional tool.

Since the spudding of the Shabeel-1 well, Puntland’s bravado and forwardness about its claim to the disputed Sool territories has grown much stronger in frequency. This latest line of information is coming from inside Somaliland.

Hirsi Fiqi, Editor

DissidentNation.com

Have you seen that 4,100,000 sell at gone 4.30 p.m. Was that you DC??? Ah well it is a few million less to be sold tomorrow.