.

Thank you gibby.

well my version of the RNS wasn't too far away from the truth and covered more than just TT and Texas.

PL again delivers nothing but delays !

http://www.fox-davies.com/media/51341/rrl_ln__buy__19_dec_2012_-_flash_note.pdf

FD never change their view, no matter how PL has failed throughout the year. The number i thought was interesting was their quote of $28m for Texas. I fully expect PL to get around the lower end of around $25m, anything more and that would amaze me ! Horrendous chart for 2012, over 60% down from start of the year from the peak of 16p well what can someone say !

Agree pumben. Are FD talking out their backside ? Good time in the near future to buy back shares, is the sp being driven down for this ? Market not happy with the way the company is going forwards or more sideways. I thought they had 250 staff in TT, now they need to train more ? ,
Not worth selling in the 3's. I cannot see this getting to 10p ( Im out if it does) let alone Fd's 25p ( What decade ?) as they do not say when.

MERRY CHRISTMAS RANGERS

Lets hope for a better 2013

Had a re-read Fd's 25p Is a 12 month target from the report day. They baffle me, thats a 6 fold increase on 4p. I'm far from convinced. Anyones views much appreciated.

Sorry DC have not got any views, thoroughly peed off with all and sundry this year, and for years on some but Bahh Bumbug things have to get better from my end, glad so see some of you are doing well on others so Have A Merry Christmas All and let 2013 be more fruitful. Just been accepted with age uk doing a volunary job just a few hours a week - We just have to be grateful that we are not as unfortunate as some. GL all for the New Year.

Happy christmas 3m.

Trinidad Update

http://www.moneyam.com/action/news/showArticle?id=4525568

No funds required in Trinidad..........It is not the worst RNS I have read from our leader Peter?



24 January 2013


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


By e-lodgement

TRINIDAD UPDATE

Range Resources Limited ("Range" or "the Company") is pleased to announce the
following update with respect to the Company's Trinidad operations with the
following highlights:

- The QUN 139 well drilling ahead at 950 ft. with a revised target depth of 1,300
ft. having encountered approximately 80 ft. of good quality oil sands to 945 ft.;

- The QUN 135 well finds more than 80 ft. of oil pay and will be deepened after
indications of a possible new pay zone near TD;

- The Morne Diablo Waterflood programme is currently being simulated / modeled,
with completion estimated in February;

- The Beach Marcelle programme is looking to commence upon receipt of the
approvals to deepen six of the existing wells targeting production of 150-300
bopd per well; and

- The Company has received the final revised farm-out agreements that will see an
initial reduction in the enhanced royalty currently being paid by the Company.
The revised rates at 1,000 bopd will see net back prices increase to circa $40 /
barrel before tax and circa $50 / barrel before tax at 2,000 bopd.

Lower Forest Development Update

Development of the Lower Forest formation continues with the QUN 139 well
drilling ahead at 950 ft. with a revised target depth of 1,300 ft. having
encountered approximately 80 ft. of good quality oil sands to 945 ft. The QUN
139 location is contiguous to producing wells QUN 119 and QUN 129 which
achieved initial production rates of 129 bopd and 138 bopd, respectively. Both
wells still flow under natural pressure, with QUN 129 having now produced for
12 months since first production.

The QUN 140 well is expected to spud shortly, with the Company awaiting receipt
of necessary approvals. The well will be drilled to a target depth of
approximately 1,000 ft. The QUN 140 well is contiguous and up-dip to the
recently drilled QUN 138 well. As previously announced, the logging of the QUN
138 well indicated 100 ft of net oil sands across a number of horizons
including a highly resistive zone between 770 and 810 ft. The Company awaits
approvals which are anticipated shortly, with the production rig ready to move
immediately onto site, perforate the well, and place it into production.

Drilling Deeper Formations

The Company is pleased to report that after operational delays, the QUN 135 has
been successfully drilled to its planned total depth of 3,500 ft., with
indications that it may have penetrated a new Middle Cruse pay zone. Following
conditioning of the well bore, logging operations were initiated and more than
80 ft. of net oil pay was identified in the Lower Forest, Upper Cruse and Middle
Cruse formations. Based on oil shows while drilling and induction logs indicating
that the well reached its planned total depth in the top of a Middle Cruse oil
zone, the 135 well will now be deepened to confirm what may represent a
previously undiscovered reservoir in the Middle Cruse section. Following
deepening of the well and evaluation of open hole logs, the Company will
determine which of the multiple oil zones present is the best candidate for
initial completion.

In addition to the wells mentioned above, the Company is looking at re-entering
four Lower Forest wells that have experienced comingling of oil and water
sands. Remedial work will be performed on these wells with a small work-over
rig, with additional perforations to be added in two of the four wells. This
work is expected to improve the performance of these wells and add further to
production.

The MD 248 well has reached 4,000 ft. and will continue to drill towards the
target depth of 6,500 ft. to test the Lower Cruse formation. Following
equipment shortages that resulted in drilling delays, additional rig components
have been procured to reduce future downtime.

The previously drilled MD 19 well encountered well-developed Lower Cruse sands.
However, they were structurally low and water-saturated at that location.

Morne Diablo Waterflood Project

The shallow Forest water flood project on the Morne Diablo license is currently
being simulated / modeled, with completion estimated for mid-February followed
soon thereafter by a presentation and application for approval to the
regulatory authorities, with development still forecast to commence mid 2013.

Beach Marcelle License

The Company has finalised the Environmental Impact Assessment (EIA) to be
submitted to the Environmental Management Authority (EMA) in application for a
Certificate of Environmental Clearance (CEC) to drill up to 40 wells and
conduct the water flood program. It is anticipated the EMA will take
approximately two to three months to review and grant environmental approval.
Final approvals will then be sought from the regulatory authorities. Once all
permits and approvals are in place, Range will commence development, currently
forecast for mid-2013, after which the Company will look to commence
preparations for the 40 well work program and water flood.

The Company has also applied for a separate CEC to deepen six wells in the
Beach Marcelle license (without EIA) and anticipates that a favourable response
will be received soon. Following receipt of the CEC for the deepening of these
six wells, the Company will move one of the medium capability rigs to the Beach
Marcelle license to commence the drilling program.

The Company has recently received approval of a CEC on the Beach Marcelle
license (without EIA) to build a bio-remediation site, to aid in waste
management of the proposed drilling program. These bio-sites are present in all
Range fields and unique in allowing Range complete on-site control of the
drilling-remediation process.

2013 Outlook

Range is looking forward to a prospective and busy 2013 across the Company's
three onshore licenses. The Company is working towards having all six of its
drilling rigs running to increase production and cash flow, as well as
resolving the operational delays that have recently been experienced by
implementing processes and procedures across the board to minimise downtime.
With a track record of early drilling success, the Company remains focused on
maintaining the continuous drilling and completion operations required for
sustainable production growth.

Development of the Lower Forest formation on the Morne Diablo license will
continue, utilising the Company's shallower capacity rigs, with an inventory of
40+ wells still to be drilled. This shallow reservoir development is currently
self-funding, with revenue from pre-existing wells and the Lower Forest wells
drilled to date more than offsetting the capital required for these shallow
wells.

As mentioned above, work will commence on the Beach Marcelle block upon receipt
of the approved CEC with respect to the deepening of six existing wells. These
wells are to be drilled to depths between 3,000 and 4,000 ft., targeting the
prolific Gros Morne formation with historical wells having demonstrated initial
production in the range of 150-300 bopd.

Once all six rigs are operational, the Company will move one of the medium
capacity rigs to the South Quarry field to commence testing and development of
the shallow targets that have been identified on the license. The initial
shallow well program will involve the drilling of up to 10 wells and,
contingent upon the success of this program, development will continue in a
similar manner as the Lower Forest development.

In addition, following completion of the MD 248 well, the Company will spud the
first of a series of wells that will test the prolific Herrera formation as a
primary exploration target, with the Forest and Cruse formations as secondary
objectives.

Revised License Agreements

The Company has received the final revised agreements that will see an initial
reduction in the enhanced royalty currently being paid by the Company. The
revised terms will see an improvement in the net back per barrel of oil
produced. The revised royalty rates at production rates of 1,000 bopd will see
net backs increase to circa $40 / barrel before tax and circa $50 / barrel
before tax at 2,000 bopd - assuming $90 barrel oil and opex at similar levels.
Only minor administrative items relating to market communications remain to be
resolved.

In addition, discussions continue with the regulatory agencies and other
farm-in operators for further performance-based drilling and production
incentives. Updates will be provided upon progress when available.

Executive Director Peter Landau commented:

"There is no doubt that it has been a challenging few months given the
operational delays experienced in getting certain wells drilled in Trinidad and
the softening of the Company's share price. As we continue to address the
supply chain issues that resulted in those delays, it is important to remember
the key positives that will continue to underpin Range's performance moving
forward in the short to medium term.

Trinidad is fully funded through both existing facilities, the Texas sale and /
or other reserve based lending options that are available to the Company. The
work program will continue assummarisedabove and further capital will be
deployed to ensure operational delays moving forward are reduced significantly
with spare plant and equipment and an increased number of specialised personnel.
The revised fiscal terms will only serve to further benefit increased production
over the coming year as production ramp up moves into full swing.

With Range close to finalising the GIG joint venture in Georgia, the financial
and operational focus will be firmly placed on Trinidad and our target of 6,000
bopd by the second half of 2014 based on known PDP and PUD Reserves."


Yours faithfully


Peter Landau
Executive Director


Contacts

Range Resources Limited
Peter Landau
Tel: +61 (8) 9488 5220
Em: plandau@rangeresources.com.au

RFC Ambrian Limited (Nominated Advisor) Old Park Lane Capital (Joint Broker)
Stuart Laing Michael Parnes
Tel: +61 (8) 9480 2500 Tel: +44 (0) 207 493 8188

Fox-Davies Capital Limited GMP Securities Europe LLP (Joint Broker)
Daniel Fox-Davies / Richard Hail James Pope / Chris Beltgens
Tel: +44 (0) 203 463 5000 Tel: +44 (0) 207 647 2800

PPR (Australia)
David Tasker
Tel: +61 (8) 9388 0944
Em: david.tasker@ppr.com.au


Range Background

Range Resources Limited is a dual listed (ASX:RRS; AIM:RRL) oil & gas
exploration company with oil & gas interests in the frontier state of Puntland,
Somalia, the Republic of Georgia, Texas, USA, Trinidad and Colombia.

In Trinidad Range holds a 100% interest in holding companies with three onshore
production licenses and fully operational drilling subsidiary. Independently
assessed Proved (P1) reserves in place of 17.5 MMbls with 25.2 MMbls of proved,
probable and possible (3P) reserves and an additional 81 MMbls of unrisked best
estimate prospective resources.

In the Republic of Georgia, Range holds a 40% farm-in interest in onshore
blocks VIa and VIb, covering approx. 7,000sq.km. Range completed a 410km 2D
seismic program with independent consultants RPS Energy identifying 68
potential structures containing an estimated 2 billion barrels of undiscovered
oil-in-place (on a mean 100% basis) with the first (Mukhiani-1) exploration
well having spudded in July in 2011. The Company is focussing on a revised
development strategy that will focus on low-cost, shallow appraisal drilling of
the contingent resources around the Tkibuli-Shaori ("Tkibuli") coal deposit,
which straddles the central sections of the Company's two blocks.

In Puntland, Range holds a 20% working interest in two licenses encompassing
the highly prospective Dharoor and Nugaal valleys. The operator and 60%
interest holder, Horn Petroleum Corp. (TSXV:HRN) has completed two exploration
wells and will continue with a further seismic and well program over the next
12-18 months.

Range holds a 25% interest in the initial Smith #1 well and a 20% interest in
further wells on the North Chapman Ranch project, Texas. The project area
encompasses approximately 1,680 acres in one of the most prolific oil and gas
producing trends in the State of Texas. Independently assessed 3P reserves in
place (on a 100% basis) of 228 Bcf of natural gas, 18 mmbbls of oil and 17
mmbbls of natural gas liquids.

Range holds a 21.75% interest in the East Texas Cotton Valley Prospect in Red
River County, Texas, USA, where the prospect's project area encompasses
approximately 1,570 acres encompassing a recent oil discovery. The prospect has
independently assessed 3P reserves in place (on a 100% basis) of 3.3mmbbls of
oil.

Range is earning a 65% (option to move to 75%) interest in the highly
prospective PUT 6 and PUT 7 licences in Putumayo Basin in Southern Colombia.
The Company will undertake a 350km2 3D seismic program across the two licences
and drill one well per licence, as well as looking to re-enter a previously
suspended well that had a significant historical reserve estimate.


Table of Reserves and Resources

Detailed below are the estimated reserves for the Range project portfolio.

All figures in MMboe Gross Oil Reserves Range's Net Attributable
Interest

Project 1P 2P 3P 1P 2P 3P Operator

Oil & NGL

Texas - NCR * 16.4 25.2 35.3 20-25% 2.2 3.4 4.8 Western Gulf

Texas - ETCV 1.0 1.6 3.3 22% 0.2 0.3 0.6 Crest Resources

Trinidad 17.5 20.2 25.2 100% 17.5 20.2 25.2 Range

Total Oil & Liquids 34.9 47.0 63.8 19.9 21.3 28.9

Gas Reserves

Texas - NCR * 106.0 162.7 228 20-25% 11.7 18.1 25.4 Western Gulf

Total Gas Reserves 106.0 162.7 228 11.7 18.1 25.4

* Reserves attributable to Range's interest in the North Chapman Ranch asset,
which are net of government and overriding royalties as described in the
Forrest Garb report.

Detailed below are the estimated resources and oil-in-place delineated across
Range's portfolio of project interests.

All figures in MMboe Gross Oil Range's Net Attributable
Resources Interest

Project Low Best/ High Low Best/ High Operator
Mean Mean

Prospective Resources

Trinidad 8.1 40.5 81.0 100% 8.1 40.5 81.0 Range

Total Prospective 8.1 40.5 81.0 8.1 40.5 81.0
Resources

Undiscovered
Oil-In-Place

Puntland - 16,000 - 20% - 3,200 - Horn Petroleum

Georgia - 2,045 - 40% - 818 - Strait Oil & Gas

Colombia - 7.8 - 65-75% - 5.1-5.8 - Petro Caribbean


All of the technical information, including information in relation to reserves
and resources that is contained in this document has been reviewed internally
by the Company's technical consultant, Mr Mark Patterson. Mr Patterson is a
geophysicist who is a suitably qualified person with over 25 years' experience
in assessing hydrocarbon reserves and has reviewed the release and consents to
the inclusion of the technical information.

The reserves estimates for the 3 Trinidad blocks and update reserves estimates
for the North Chapman Ranch Project and East Texas Cotton Valley referred above
have been formulated by Forrest A. Garb & Associates, Inc. (FGA). FGA is an
international petroleum engineering and geologic consulting firm staffed by
experienced engineers and geologists. Collectively FGA staff has more than a
century of world–wide experience. FGA have consented in writing to the
reference to them in this announcement and to the estimates of oil and natural
gas liquids provided. The definitions for oil and gas reserves are in
accordance with SEC Regulation S–X an in accordance with the guidelines of the
Society of Petroleum Engineers ("SPE"). The SPE Reserve definitions can be
found on the SPE website at spe.org.

RPS Group is an International Petroleum Consulting Firm with offices worldwide,
who specialise in the evaluation of resources, and have consented to the
information with regards to the Company's Georgian interests in the form and
context that they appear. These estimates were formulated in accordance with
the guidelines of the Society of Petroleum Engineers ("SPE").

The prospective resource estimates for the two Dharoor Valley prospects are
internal estimates reported by Africa Oil Corp, the operator of the joint
venture, which are based on volumetric and related assessments by Gaffney,
Cline & Associates.

In granting its consent to the public disclosure of this press release with
respect to the Company's Trinidad operations, Petrotrin makes no representation
or warranty as to the adequacy or accuracy of its contents and disclaims any
liability that may arise because of reliance on it.

The Contingent Resource estimate for CBM gas at the Tkibuli project is sourced
from the publically available references to a report by Advanced Resources
International's ("ARI") report in 2009: CMM and CBM development in the
Tkibuli-Shaori Region, Georgia. Advanced Resources International, Inc., 2009.
Prepared for GIG/Saknakhshiri and U.S. Trade and Development Agency. -
.globalmethane.org/documents/toolsres_coal_overview_ch13.pdf. Range's
technical consultants have not yet reviewed the details of ARI's resource
estimate and the reliability of this estimate and its compliance with the SPE
reporting guidelines or other standard is uncertain. Range and its JV partners
will be seeking to confirm this resource estimate, and seek to define reserves,
through its appraisal program and review of historical data during the next 12
months.

Reserve information on the Putumayo 1 Well published by Ecopetrol 1987.


SPE Definitions for Proved, Probable, Possible Reserves and Prospective
Resources

Proved Reservesare those quantities of petroleum, which by analysis of
geoscience and engineering data, can be estimated with reasonable certainty to
be commercially recoverable, from a given date forward, from known reservoirs
and under defined economic conditions, operating methods, and government
regulations.

Probable Reservesare those additional Reserves which analysis of geoscience and
engineering data indicate are less likely to be recovered than Proved Reserves
but more certain to be recovered than Possible Reserves.

Possible Reservesare those additional reserves which analysis of geoscience and
engineering data indicate are less likely to be recoverable than Probable
Reserves.

1P refers to Proved Reserves, 2P refers to Proved plus Probable Reserves and 3P
refers to Proved plus Probable plus Possible Reserves.

Prospective Resourcesare those quantities of petroleum estimated, as of a given
date, to be potentially recoverable from undiscovered accumulations by
application of future development projects. Prospective Resources have both an
associated chance of discovery and a chance of development. Prospective
Resources are further subdivided in accordance with the level of certainty
associated with recoverable estimates assuming their discovery and development
and may be sub-classified based on project maturity.

Contingent Resourcesare those quantities of hydrocarbons which are estimated,
on a given date, to be potentially recoverable from known accumulations, but
which are not currently considered to be commercially recoverable.

Undiscovered Oil-In-Placeis that quantity of oil which is estimated, on a given
date, to be contained in accumulations yet to be discovered. The estimated
potentially recoverable portion of such accumulations is classified as
Prospective Resources, as defined above.


END

It will be interesting to see which way this goes today.

Executive Director Peter Landau commented:

"There is no doubt that it has been a challenging few months given the
operational delays experienced in getting certain wells drilled in Trinidad and
the softening of the Company's share price.




''THE SOFTENING OF THE COMPANY'S SHARE PRICE'' you can say that again.

It better not go South, the road ends soon.

!2% start is a good signal!

12 mins out and in the red.

What is the famous saying, your investment can do down as well as up!!!!

Agree 3m.

Range Resources (LON:RRL): Something to Brighten the Day – Winter Sun! - Today’s Trinidad update continues to highlight the Company’s focus on the region, and it is easy to understand why. Onshore Trinidad has been largely overlooked in favour of investment offshore, hence the increased access to the acreage, coupled with an increasingly benign fiscal framework, makes investment in Trinidad a highly attractive proposition. Range has specifically focused on developing the ancillary infrastructure as its plans have developed, such that the Company finds itself in the enviable position of being able to execute on its programme, without the need for securing rig contracts and access to service providers. Given that there will be a significant number of new wells and workovers, one of the key concerns that there would have been normally, is the availability of rigs to execute the programme; not so in Range's case. We continue to believe that there is a significant opportunity to revitalise the existing fields, as well as exploring the prospectivity of the undrilled areas within its acreage. As such, we are maintaining our BUY Recommendation and 25p Target Price.

In this news:

• The QUN 139 well drilling ahead at 950 ft. with a revised target depth of 1,300 ft. having encountered approximately 80 ft. of good quality oil sands to 945 ft

• The QUN 135 well finds more than 80 ft. of oil pay and will be deepened after indications of a possible new pay zone near TD

• The Morne Diablo Waterflood programme is currently being simulated / modelled, with completion estimated in February

• The Beach Marcelle programme is looking to commence upon receipt of the approvals to deepen six of the existing wells targeting production of 150-300 bopd per well; and

• The Company has received the final revised farm-out agreements that will see an initial reduction in the enhanced royalty currently being paid by the Company. The revised rates at 1,000 bopd will see net back prices increase to circa $40 / barrel before tax and circa $50 / barrel before tax at 2,000 bopd.

BUY Recommendation and 25p Target Price. Im not saying a word. :-))

What's the source, dc?