Range Resources

• 23/05/13

  Notice of General Meeting

• 16/05/13

  Guatemala Update

• 16/05/13

  Trinidad Update

• 09/05/13

  Price Monitoring Extension

• 03/05/13

  Presentation on the Proposed Merger with IOP

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  17/05/13

  Range Resources targets Trinidad oil production growth

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  16/05/13

  UPDATE: Range Resources contemplates mini-fracking

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  01/05/13

  Range Resources places first chunk of pre-merger shares

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  01/05/13

  Range Resources adds Capital Group as substantial shareholder

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  25/04/13

  Range Resources merger to provide foundation for production growth

  “We see that the merger will obviously be beneficial to both parties,” Range director Peter Landau told Proactive Investors.

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  24/04/13

  Range Resources unveils merger deal

  For Range investors, the merger adds exposure to assets in Russia, Kazakhstan, and Niger - with 233mln barrels of oil reserves.

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  15/04/13

  Range Resources' shares suspended pending clarification

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  12/03/13

  Range Resources to sell Texas oil and gas interests for US$30M

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  11/03/13

  Range Resources agrees US$30mln Texas sale

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  08/03/13

  Range Resources extends licences in Trinidad

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  01/09/2012

  Stocktube video - Range Resources - Corporate Video

  Range Resources - Corporate Video

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  01/05/13

  FTSE 100 glides higher ahead of Fed meeting
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  27/04/13

  Proactive Investors Mid & Sml Cap Weekly Roundup - Tech juniors lead the way
• 

  27/04/13

  Proactive Investors weekly oil and gas news roundup including Magnolia Petroleum, Genel Energy, Providence Resources and DekelOil
• 

  24/04/13

  Proactive news summary including Summit Corp, Archipelago Resources, Goldplat and Range Resources

• 12/04/12

  Press: 12.04.12: -0.75, (11.50) Press: Range Resources and Red Emperor fell after an update on their Shabeel well in Puntland, Somalia.The two... read more

  Press: 12.04.12: -0.75, (11.50) Press: Range Resources and Red Emperor fell after an update on their Shabeel well in Puntland, Somalia.The two explorers failed to satisfy investors who craved more concrete news from the joint-venture project being operated by Horn Petroleum. Both Range and Red Emperor hold a 20 per cent interest in the project with Horn taking up the rest. Source - Financial Times
• 23/02/12

  Press: 23.02.12: -1.25, (11.75) Press: Range Resource and Red Emperor Resources fell after delaying the mobilisation of drilling equipment to... read more

  Press: 23.02.12: -1.25, (11.75) Press: Range Resource and Red Emperor Resources fell after delaying the mobilisation of drilling equipment to their joint-venture Namakhvani well in Georgia due to severe weather conditions. Source - Financial Times
• 17/01/12

  Press: 17.01.12: -2.50, (10.75) Press: Range Resources fell after it placed 18.3m shares at 11.5p. Drilling has started on the first well in... read more

  Press: 17.01.12: -2.50, (10.75) Press: Range Resources fell after it placed 18.3m shares at 11.5p. Drilling has started on the first well in its oil exploration project in the Dharoor Valley in Somalia. Apparently it is the first drilling in the country for 20 years. Broker Fox Davies Capital?s target price is 27p. Source - Mail
• 16/01/12

  +2.25 +13.25

  Press: Range Resources rose amid rumours of an imminent update from its oil prospect in the Puntland region of Somalia. Source - Financial Times

  Press: Range Resources rose amid rumours of an imminent update from its oil prospect in the Puntland region of Somalia. Source - Financial Times
• 18/11/11

  +0.28 +9.10

  Press: Range Resources rallied after raising an estimate of proven reserves at its Trinidad prospect from 2.6m barrels to 15.4m barrels. Source... read more

  Press: Range Resources rallied after raising an estimate of proven reserves at its Trinidad prospect from 2.6m barrels to 15.4m barrels. Source - Financial Times

Company Profile

Range Resources Limited (“Range” or “the Company”) is both an ASX-listed (ASX: RRS) and AIM-listed (AIM: RRL) exploration and production Company, with its principal activities directed towards finding and delineating hydrocarbons in Puntland, Somalia; the Republic of Georgia, onshore Texas, USA and Trinidad.

Range’s main focus is in Puntland, Somalia where it holds a 20% working interest in two Production Sharing Agreements (PSAs) for the Nugaal and Dharoor Blocks. These concessions encompass two highly prospective hydrocarbon basins covering an area of 81,000sq.km or more than 20 million acres.  The Company recently announced that the operator, Horn Petroleum Ltd, had successfully completed site preparation and on 17th January 2012 it was announced that Shabeel  1 Well spudded, they are the first oil exploration wells to be drilled in over 20 years in the country. Target depth for the first of two wells to be drilled in the area, is 3,800m. The second well, Shabeel North-1, is currently undergoing preparations with the setting of the 30 inch surface casing and the drilling of a 50 meter pilot hole. The back to back exploration wells are both targeting ~ 1 billion barrels of oil in place.

In July 2009, the Company entered into a Heads of Agreement with the private UK Company Strait Oil and Gas Ltd. to acquire a 50% interest in two oil and gas blocks in the Republic of Georgia.

In 2012 operations have moved to the second drill location; Namakhvani well which is the Kursebi 6 Prospect. The decision to focus the next phase of exploration drilling on the Kursebi 6 prospect was made having identifying it as the most robust prospect with more clearly defined structure and indications of a significantly thicker Jurassic section thus increasing the likelihood of encountering more reservoir and mature source rocks.

In September 2009, the Company acquired a 25% interest in the Smith #1 well and a 20% interest in subsequent wells in the North Chapman Ranch Project in Nueces County, Texas. The project area comprises 1,680 acres in one of the most prolific oil and gas producing trends in Texas. Following the commercial discovery on the Smith #1 well in December 2009, a multi well program was initiated that is seeing numerous wells planning to be drilled on the project. Independently assessed gross recoverable reserves in place of 240 Bcf Natural Gas and 36 Mmbls of Oil / NGL’s.

Range also holds a 21.75% interest in the East Texas Cotton Valley Prospect in Red River County, Texas. The prospect's project area encompasses approximately 1,570 acres encompassing a recent oil discovery. Independently assessed gross recoverable reserves in place of 5.4 mmbbls of oil.

In April 2011 Range reached an agreement for 100 percent ownership of production licences for three blocks in producing onshore oilfields in Trinidad and a major local drilling company. The agreement was finalised in June 2011.

Current gross production is 600 - 700 bopd with current work program expected to lift production to approx. 4,000 bopd within 18 months on known 1P-2P reserves.

In January 2012 Range formed a partnership with with Leni Gas & Oil plc to jointly develop their interests in the Eastern Fields Area onshore southern Trinidad, including the Goudron and Beach Marcelle fields.

With the planned onshore exploration drilling program in Puntland and Georgia coupled with the exploration and development programs in Texas and Trinidad, Range is well on its way to establish itself as a diversified international oil and gas exploration, development and production company with significant upside potential. 

Puntland

Range entered into a Heads of Agreement in October 2005 to acquire a 50.1% interest in the sole and exclusive rights to all mineral and hydrocarbon exploration and development in the Somali state of Puntland.

In July 2006, the Company reached an agreement to acquire the residual 49.9% interest in the rights to the exploration and development of Puntland’s natural resources. Range has since relinquished its exclusive mining rights in the region.

In October 2006 Range signed a Memorandum of Understanding with Africa Oil in relation to an US$50m 80% farm in right in the Nogal Basin and Darin Basin Blocks. This resulted in a Joint Venture project being formalised between Range and Africa Oil which saw the formal signing of the Product Sharing Agreement between Range, Africa Oil and the Puntland Government take place on 17 January 2007.  The formal signing of the PSA cemented the ongoing co-operative and committed relationship between Range, Africa Oil and the Puntland government and confirmed the willingness of all the parties involved to develop the natural resources of Puntland.

In mid 2010 ASX/AIM listed company, Red Emperor Resources farmed into a 20% share of Africa Oil's 80%. Subsequently Africa Oil spun out its interests in Puntland into TSX listed Horn Petroleum as a fully focused Puntland vehicle. - [Read More]

Sir Sam Jonah - Non-Executive Chairman

Sir Samuel Jonah is non-executive Chairman of Range Resources Limited. He is Executive Chairman of Jonah Capital (Pty) Limited, and investment holding company in South Africa and serves on the boards of various public and private companies, including The Standard Bank Group and Vodafone Group Plc. He previously worked for Ashanti Goldfields Company Limited, becoming Chief Executive Officer in 1986, and was formerly Executive President of AngloGold Ashanti Limited and oversaw its growth and listing as the first operating sub-Saharan African company on the NYSE.  He is also a member of the Advisory Council of the President of the African Development Bank.

He is an advisor to the Presidents of Ghana, South Africa, Nigeria and Namibia. An Honorary Knighthood was conferred on him by Her Majesty the Queen in 2003 and in 2006 he was awared Ghana’s highest national award, the Companion of the Order of the Star.

Mr Peter Landau - Executive Director

Mr Landau is a corporate lawyer and corporate advisor, having previously worked with Grange Consulting Group, Clayton Utz and as general counsel at Co-operative Bulk Handling.  Mr Landau is responsible for providing general corporate, capital raising, transaction and strategic advice to numerous ASX listed and unlisted companies. Mr Landau has project managed a significant number of mining exploration and development transactions around the world including capital raisings, M & A, joint ventures and financings. Mr Landau is a director of a number of ASX listed companies with particular focus on mining, oil and gas exploration and development in Africa.

Mr Marcus Edwards-Jones - Non-Executive Director

Mr Edwards-Jones is currently Managing Director (and co-founder) of Lloyd Edwards-Jones S.A.S, a financial boutique firm specialising in selling European equities to institutional clients and introducing resource companies to an extensive institutional client base in the UK, Europe and Asia/Middle East. Mr Edwards-Jones has previously held senior positions with Bank Julius Baer Paris (European equities), and UK/Continental European equity sales at Credit Lyonnais Securities. In addition, Mr Edwards-Jones has significant experience in world wide institutional capital raisings for large resource projects in Africa.

Mr Anthony Eastman - Executive Director & Joint Company Secretary

Mr Eastman is a Chartered Accountant with a number of years experience in financial management and corporate advisory services.  He has previously worked with Ernst & Young and CalEnergy Gas Ltd, a subsidiary of the Berkshire Hathaway Group of Companies in both Australia and the United Kingdom.

Ms Jane Flegg - Joint Company Secretary

Ms Flegg has over 20 years of experience in finance and administration.  During the past decade she has been a Corporate Advisor to several ASX Public Listed Companies, specialising in corporate and financial management, compliance and company secretarial advice.  Ms Flegg is currently Joint Company Secretary to Continental Coal Limited.

Mark Patterson - Technical & Operations Advisor

Highly experienced executive with over 25 years experience in the oil and gas industry.

Alan Hitchins - Executive Consultant

Extensive experience in the acquisition and funding of resource projecs in teh Caucasus region.

Gregory Smith - Executive Consultant

Over 15 years of management experience in the oil and gas exploration industry.