Range Resources Ltd

Range Resources Limited (“Range” or “the Company”) is both an ASX-listed (ASX: RRS) and AIM-listed (AIM: RRL) exploration and production company with assets in Texas- U.S, Republic of Georgia, Trinidad and Puntland- Somalia.
 
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 Quick guide to Range!

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PostSubject: Quick guide to Range!   Wed Jun 30, 2010 6:44 pm

posted this on hotcopper:

good morning australia ! summary of rrs

Are you really awake?
London closed with 30mln shares / 5.33p / +9.22%
This is 9.43c AUD !

A summary for the sleepysleepsleeperssleepingones on ASX:

what is going on with the NEW Range Resources ltd. ...
Range is diversified with following prospects:
a) Texas
b) Georgia
c) Somalia/Puntland
d) will be announced soon

a) Texas:
- North Chapman Ranch (possible additional wells)
1)Smith Well#1 JV-25% Just drilled, successful, earning-calculations on the way
2)Russel Bevly#1 JV-20% Just drilled, seems successful
Newest aquisition:
- Cotton Valey JV-13.56%, possible 20 wells

b) Georgia (10% of Georgians surface area, 7000sq km)
50%-farm in with Strait Oil. Two Blocks.
Seismic operation completed.
Announcement with seismic results and exploration strategy expected in the next days/weeks.

c) Puntland/Somalia
2 licences. Dhahoor & Nogal. 81000sq km
JV-20% with AfricaOil-65% (operator, just spent 30m$) and LionEnergy-15% for onshore.
In early 90's just invested 150mln$ to get oil in Puntland.
100% for offshore and 100% for other commodities.
Dhahoor & Nogals expected oil-reserves 2.2bn bbl to 10.4bn bbl.
AfricaOil plans to spud first well in the next weeks/months.

d) new aquisition-announcement expcted
Announcement from 17/06/10:
"Range is in the final stages of securing an option over another oil production play with significant exploration upside in the Americas and should be in a position to announce shortly"

- so the Smith#1 production numbers will tell us, what alone is this one little thing of Range really worth.
And than, RRS isnt more an exploration company.
It will be a producer, collection more and more production wells....

Good luck to all investors of RRS/RRSO
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PostSubject: Cash&Card on ADVFN   Fri Jul 09, 2010 8:50 am

#Texas (Nth Chapman Ranch): 20%WI in 215Bcf of Gas, 15mmbbls of Oil, 15mmbbls of NGL's (all P3). This asset is in production from the Smith well (approx 2.2mmcfd + 200bopd). This has been fracture stimulated recently with results imminent. The Russell Bevly well, completed recently will increase those 'In-Place'

#Texas (Cotton Valley): 13.54%WI in 4-6mmbls of Oil. This is a production asset with a horizontal well due in a few months. Cost of $254k to RRL to get into this project a few weeks ago.

#Georgia (Blocks VIa & VIb): Two blocks that cover 10% of Georgian territory. Extensive drilling in the soviet era (200 gas & water wells?). Significant gas potential discovered in several wells and some exhibiting oil potential. Possible 380mmbbls OIP. Seismic shoot completed a few months ago with upto 25 targets being defined for a drilling campaign (Q4/10?).

#Puntland onshore (Nugal & Dharoor blocks): 20%WI of two major frontier basins in the horn of Africa. 101 Resource report on Africa oils website indicates potentially 18bln bbls OIP between these two blocks. They are believed to be an extension of multi-billion barrel Yemeni basins. Conoco, Agip, Shell were in the region before civil-war ensued. They spent hundred of millions in data and drilling. AGIP made the Darin oil discovery in the Dharoor area. The last two Conoco wells (Nugal & Khalis-1) didn't reach the primary targets. However (significantly), they had 'oil shows' in secondary zones Smile First Puntland well in almost two decades scheduled for Q4/10 - (this is what most are here for).

#Puntland offshore: They have 100% rights to participate in the offshore area (87,000km2!) just north of Nugal and Dharoor blocks. Potential is thought to be greater than onshore licences.

#Unknown project: An option to participate in an oil development somewhere in the Americas. Should find out soon.

---------------------------------------------------------------------------

Notice the balance of low-risk, high-reward projects? Makes it one of the best.

Cash
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PostSubject: Re: Quick guide to Range!   Fri Jul 09, 2010 10:21 am

"#Puntland offshore: They have 100% rights to participate in the offshore area (87,000km2!) just north of Nugal and Dharoor blocks. Potential is thought to be greater than onshore licences."

This part is not quite 100%. As far as I am aware, we don't have the off shore secure yet... not that it matters in the slightest at this stage... we'll be bought out well before we need to worry about that IMO.

From the Range web site...

With Range’s planned onshore drilling program in Puntland, and its progress towards developing a joint exploration strategy with the Puntland Government for offshore Puntland, the Georgia and Texas farm-in are considered by Range to be a significant step towards establishing the company as a diversified international explorer with a growing oil and gas acreage position and significant upside potential.


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