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

UPDATE: Range Resources increases interest in Guatemala field
By Philip Whiterow July 29 2013, 1:46pm In testing, Atzam #4 has continued to flow at between 130-140 barrels per day on a restricted 8/64ths choke.In testing, Atzam #4 has continued to flow at between 130-140 barrels per day on a restricted 8/64ths choke.

--Adds broker comment--

Range Resources (LON:RRL) will increase its interest in the Atzam project in Guatemala to 32% following a decision to drill a new development well on the field.

Spudding of well Atzam #5 is expected in September. An updated resource statement from Atzam #4 is due shortly and Range said again on Monday it is expected to show an upgrade to the current Probable Reserve estimate of 2.3m barrels.

In testing, Atzam #4 has continued to flow at between 130-140 barrels per day on a restricted 8/64ths choke, with nearly 5,000 barrels produced so far.

Atzam is owned and operated by Latin American Resources (LAR), which, according to Range, is in advanced negotiations with a number of oil companies on short term and long term off-take contracts.

Range’s stake in Atzam was previously just under 24%, comprising a 19.9% stake in Australian firm Citation Resources, which owns 70% of LAR, and a 10% stake of its own in LAR.

Following the decision to go ahead with well #5, Range has executed a debt conversion agreement that will see the transfer of a further 10% interest in LAR to Range from Citation.

In a note to clients Old Park Lane Capital analyst Barney Gray backed the strategy Range is following in Guatemala.

“The ongoing testing programme on Atzam #4 is expected to lead to a reserves upgrade and the drilling of three additional producers over the next few months is likely to boost production significantly.

“With the momentum in Guatemala set to continue, Range is justified in increasing its commitment to the project.”

Range also added it is also working with LAR on two well re-entries and potentially six new well locations on the Tortugas Salt Dome structure, a suspended oil field previously drilled by Monsanto.

The well re-entries on two Tortugas wells, 63-4 and 63-5, are expected to produce between 200-300 barrels of oil per day ( bopd) each of high quality 34° API oil based on historical flow rates and production.

In the mid-eighties, two wells flowed oil at initial rates over 1,500 bopd before they were suspended.

Range Resources reviewed by Uk broker Fox Davies
Tuesday, July 30, 2013 by Proactive Investors



http://www.proactiveinvestors.com.au/companies/news/46122/range-resources-reviewed-by-uk-broker-fox-davies-46122.html

Quarterly Activities Report and Appendix 5B

http://www.moneyam.com/action/news/showArticle?id=4642788

up 8% on a poor market day.

Only another 9p to go then!!!!!!!

lol. -8% tomorrow

More than likely dc.

Pessimists! :o)

You are confusing realism and pessimism! :-)

I will write it now save doing it tomorrow ''I told you so'' lol

Lol! :o)

6 Aug Beaufort... N/A Speculative Buy

I told you so up another 3% lol. :-))

StockMarketWire.com
Range Resources has finalised all documentation for the $30m sale of its Texan assets.

The purchaser has agreed to pay $25m at closing, being on or before 30 August, plus up to a further $5m in royalty payments from future production.

The purchaser has paid a $1m non-refundable deposit to Range in recognition of the previous delays in completing the transaction.

Executive director Peter Landau said: "The finalisation of the documentation for the sale of the Texan asset is a significant milestone and will significantly strengthen Range's balancesheet and allow the company to redeploy proceeds into our highly prospective international assets, including Colombia and the recently announced farm-in with Niko Resources in Trinidad.

"In addition to the proceeds from the sale, we are also in the final stages of completing the reserve based lending facility for Trinidad, which will leave the company well positioned for significant operational growth."

And down it goes.

StockMarketWire.com
Range Resources Ltd has noted the recent weakness in its share price, but said it is not aware of any particular event that would account for this share price weakness.

The company said it is focused on ramping up production from its large-scale operations in Trinidad, where production has increased by over 30% since April, with significant further increases expected as more wells come online and all 6 rigs get utilised simultaneously, following maintenance upgrades.

In addition, well economics have improved with the implementation of the previously announced reductions in overriding royalty rates on the Morne Diablo and South Quarry fields.

Range Resources was also on track to receive the proceeds of $25 million from the sale of its Texas asset by the end of this month, as recently announced.

Range Resources on track for sale of Texas assets

Fri, 16 August 2013


''Surged'' lol . A 3% rise.

Range Resources’ shares surged after saying it remains on track to receive proceeds of 25m dollars from the sale of its Texas assets by the end of August.

The oil and gas producer said it noted the recent weakness of its share price but was not aware of any particular even that would have caused the slump.

“The company remains fully committed to delivering shareholder value from its portfolio of assets and is focused on ramping up production from its large scale operations in Trinidad, where production has increased by over 30% since April, with significant further increases expected as more wells come online and all six rigs get utilised simultaneously, following maintenance upgrades,” the group said in a statement.

The firm added that well economics have improved with the implementation of reductions in overriding royalty rates on the Morne Diablo and South Quarry fields.

The group is in the final stages of completing its reserve based lending facility for Trinidad with key documentation agreed and final completion and draw down expected shortly.

Range also announced that it remains committed to pursuing an acquisition of International Petroleum. The acquisition is pending confirmation of the terms of International Petroleum's proposed sale of its Russian assets for cash.

Shares rose 3.90% to 2.40p at 10:20 on Friday.

Operational update & appointment of new personnel:

http://www.moneyam.com/action/news/showArticle?id=4655001

Summary comment from the boss:
"Peter Landau, Executive Director, commented:

"We are delighted to announce Ash Mangano as the Vice President of Range's Trinidad operations. Ash has deep knowledge of the oil and gas industry and brings with him a wealth of experience within the industry at both corporate and operational levels and will provide valuable experience as we continue to grow our business. Ash will continue to drive and further develop the strategic agenda that we have set out, to generate competitive returns for our shareholders.

As the Company is in final stages of completing significant reserve based lending transaction, we have decided that now is an appropriate time for the Company to seek additional leadership, to take the Company to the next stage of development, where the focus will be on operating the conventional production operations as well as unconventional waterflood projects in order to unlock the enormous potential of our Trinidad assets."

Range Resources makes senior hire; reports solid progress in Trinidad
By Ian Lyall August 22 2013, 8:18am Turning to operations, the company’s next 10 wells have been earmarked for access by the production and work-over rigs.Turning to operations, the company’s next 10 wells have been earmarked for access by the production and work-over rigs.

Range Resources (LON:RRL) coupled news of a senior appointment to its Trinidad business with an update from the island.

The group has hired Ash Mangano as a vice president to work alongside Walter Cukavac, who is chief operations officer.

Director Peter Landau said: “As the company is in final stages of completing significant reserve-based lending transaction, we have decided that now is an appropriate time for the company to seek additional leadership, to take the company to the next stage of development, where the focus will be on operating the conventional production operations as well as unconventional waterflood projects in order to unlock the enormous potential of our Trinidad assets."

Range said it has also engaged a senior reservoir engineer with more than 15 years' experience in enhanced oil recovery projects and reservoir characterization in Trinidad, and has employed three new mud engineers.

In the same announcement Range said it is “continuing to evaluate” the 2013 onshore bid round data package and is preparing its submissions for certain licences being offered.

Turning to operations, the company’s next 10 wells have been earmarked for access by the production and work-over rigs.

Additionally, the QUN16 well is due for reactivation. This will add new reserves and production, while further extending Range’s Lower Forest

trend to the east of the well and establishing a large area for low risk infill drilling.

The firm said it remains on target to have all its six rigs operational in the third quarter.

At the same time work continues towards Range’s farm-in to the Guayaguayare Block, with final agreements expected to be signed this

month.

The Guayaguayare Block represents the largest addition to Range's Trinidad portfolio to date, increasing the company's acreage position by more than 280,000 acres.

It seems they do not have credibility. Why falling?

Whatever good news they say, share rice falls.