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Market: AIM:RRL
52-week High/Low: 0.75p / 0.18p
Sector: Energy
Market Cap: 28.86M
Phone: +44 (0)20 7520 9486
Address: 10 Adam Street, The Strand, London WC2N 6AA.
Range Resources Ltd

Range Resources Ltd

Range is a growing dual listed (ASX: RRS and AIM: RRL) E&P company with the largest private onshore acreage in Trinidad. The Company has established a stable funding position for its growth through a number of attractive equity, supplier and trade finance packages. The Company’s objective is to create sustainable shareholder value by growing oil production, developing discovered resources and continuing exploration on its highly prospective assets.

Range Resources Ltd

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Big picture - Why invest in Range Resources Ltd

Range Resources Ltd Snapshot


The Company has a focused strategy and is on a solid footing to deliver on its growth plans:


Aiming to grow current production and reserves through implementation of large scale waterflood projects and high impact drilling work programme (underway).



 The Company has a strong financial position, with funded programme and a strategic partner to support and execute growth plans.


The Company continues to focus on driving efficiency and cost reduction by divesting remaining non-core assets and reducing costs across the Group.


The Company continues to seek suitable value-anhancing production / development acquisitions.




The Company has the largest private onshore acreage in Trinidad with a 100% interest in three production licences – Morne Diablo, South Quarry and Beach Marcelle, as well as interests in two exploration blocks – St Mary’s and Guayaguayare.


In line with the Company’s stated strategy of non-core asset rationalisation and continued focus on production growth from the core assets, the Company continues with non-core assets disposals.


Range entered Trinidad in 2011 through the acquisition of three producing onshore licences - Morne Diablo, South Quarry and Beach Marcelle.

The Company also holds additional exciting exploration acreage on Guayaguayare and St Mary’s licences.

Range in Trinidad today:

Largest independent onshore acreage in Trinidad (475 km2)
Operator and majority interest holder of all 5 blocks
Most active onshore work programme in Trinidad amongst independents
Largest scale waterflood projects ever undertaken in Trinidad commenced
Five material development and one high impact exploration wells to be drilled in 2016
Proved and probable (2P) reserves of 22 million barrels
Prospective resources of 91.3 million barrels (excludes St Mary’s and Guayaguayare blocks)
Annual production in excess of 205,000 barrels (FY2015)
Production guidance with medium-term stabilised production goal of 2,500 barrels of oil / day

For further information please click here 



Range holds 20% interest in the Guatemalan project through its holding in Latin American Resources (LAR) (the Operator), a private Guatemalan oil and gas exploration company.

Range (via its 45% shareholding in Strait Oil & Gas) holds interest in Block VIa in Georgia. Georgia is a non-core asset for Range and the Company continues to explore potential disposal options for its interest.




Reserves (Morne Diablo, South Quarry, Beach Marcelle) mmbbls
1P 19.4
2P 22
3P 27.6
Resources mmbbls
2C 3.2
Prospective 91.3

For further information please click here



LandOcean Energy Services Co., Ltd.

Strong strategic partnership with LandOcean

Range continues its partnership with LandOcean, an emerging provider of a wide range of technical and production services. LandOcean acquired Range’s drilling business in Trinidad and added four brand new drilling rigs to the fleet. In addition, LandOcean agreed to provide Range with an extended 24 month credit facility on its services, which allowed the Company to commence its drilling programme and make repayments from future cashflows. In  2014 Range entered into an Integrated Master Services Agreement, whereby LandOcean will act as the preferred oilfield services contractor to Range in Trinidad.

Under the first US$5 Purchase Order 1 LandOcean provided geological and engineering studies of secondary recovery projects:

Screening study of all likely potential horizons and areas that could benefit from waterflooding
Technical review of additional reserves and production rates that could be achieved by waterflooding priority areas,   including new well requirements and re-use / recompletion of existing wells.
Identification of water volume requirements for waterflooding;
Cost estimates of subsurface and surface infrastructure requirements for each waterflooding project, plus screening economics of each project;
In collaboration with Range, identification of four priority waterflood projects (three in Beach Marcelle, and one in Morne Diablo); and
Joint presentations to Petrotrin and the MEEA of detailed waterflooding plans for these four priority projects.
In December 2014, Range entered into the second purchase order of further US$50 million, which covers a wide range of activities over the coming years, including waterflooding implementation, and drilling of new wells.


Mr Zhiwei (Kerry) Gu, Non-Executive Chairman

Mr Gu, is an experienced corporate lawyer, who has worked with numerous companies seeking listing approval on various stock markets including Chinese A share, NASDAQ, TSX and HKSE. He is currently a partner of Dentons, one of the largest global law firms. Mr Gu has participated in several Venture Capital and Private Equity investment cases by various funds, such as London Asia Fund, Warburg Pincus, Korea Development Bank, China Venture Investment Co, and China Cinda AMC.  During his time with China National Gold Group Corp., Mr Gu was in charge of mineral resource M&A activities. Mr Gu holds a LL.B. from the Jilin University in China; a LL.M. from the Northeast University in China; and a Master of Applied Finance from the Macquarie University in  Australia. Mr Gu is a qualified lawyer and securities practitioner in China.


Mr Yan Liu, Chief Executive Officer and Executive Director

Mr Liu, has over 19 years of accounting and corporate advisory experience in China and Australia. Mr Liu was the Chief Financial Officer with AIM listed China Rerun Chemical Group Limited, a China-based lubricant oil company and a partner of Agile Partners, the financial advisory company based in China. Previously, Mr Liu was the Financial Controller at Legalwise Seminars Pty in Australia and he spent 8 years at Chinatex Corporation where he worked in project management positions. Mr Liu holds a Bachelor degree in Economics from Central University of Finance and Economics, China, and a Master degree in Commerce from the University of New South Wales, Australia.


Mr David Yu Chen, Non-Executive Director

Mr Chen has over 18 years of corporate experience, having served as Chief Executive and Board member for companies listed on US and Hong Kong stock markets. He founded Huashan Capital in 2009 to invest in the resources sector. His investment experience includes the establishment of a US-listed special purpose acquisition fund and venture capital investments in China. Mr Chen is currently the Vice Chairman and President of Hengxing Gold, a Hong Kong Stock Exchange listed gold mining company. Mr Chen has served as a director of several technology companies in China, including Payeco, a leading mobile payment service provider; Cardvalue, a data driven online small business loan provider; and Freshfresh eCommerce, an online fresh produce retailer.


Ms Juan (Kiki) Wang, Non-Executive Director

Ms Wang is currently a president of Energy Prospecting Technology USA, Inc. and LandOcean Energy Canada Ltd. where she is responsible for overall management work for the subsidiary companies of LandOcean Energy Services Co. Ltd. in Houston and Calgary. Prior to the current position, she was an investment manager at Anterra Energy Inc. responsible for Chinese investor liaisons. Prior to joining Anterra, Ms Wang was manager of corporate mergers and acquisitions at LandOcean Energy Services Co. Ltd. Ms Wang has a commercial banking background, having previously worked for Deutsche Bank and Bank of East Asia.


Mr Lubing Liu, Non-Executive Director

Mr Lubing Liu, has over 20 years’ extensive global experience in petroleum exploration, development, production, joint venture operations and new ventures. He is currently an independent consultant to MEO Australia Limited (an ASX listed company). Prior to that, he held various subsurface leader roles, including Chief Reservoir Engineer with MEO Australia Limited, Vice President of Exploration and Petroleum Technology with Sinopec East Puffin Pty Ltd, and other international E&P and energy service companies including ConocoPhillips, CNOOC, Woodside, RPS and Senergy. Mr Liu has an extensive waterflooding experience having worked at the Penglai oilfield in China, the Chinguetti oilfield in Mauritania and Block 95 in Peru. Mr Liu holds a BSc in Petroleum Engineering from the Southwest Petroleum University, China. He is a Member of the Society of Petroleum Engineers.


Dr Yi Zeng, Non-Executive Director

Dr Yi Zeng, has over 30 years of experience in the oil and gas and mining industries. Dr Zeng has held various technical and research positions with global companies, including BHP Billiton and Santos Asia Pacific. Dr Yi Zeng holds a PhD in Geophysics from the Victoria University of Wellington, New Zealand; MSc in Applied Geophysics; and BSc in Geophysical Exploration from the Chengdu University of Technology, China.



Mr Yan Liu,Chief Executive Officer and Executive Director

Mr Liu, has over 19 years of accounting and corporate advisory experience in China and Australia. Mr Liu was the Chief Financial Officer with AIM listed China Rerun Chemical Group Limited, a China-based lubricant oil company and a partner of Agile Partners, the financial advisory company based in China. Previously, Mr Liu was the Financial Controller at Legalwise Seminars Pty in Australia and he spent 8 years at Chinatex Corporation where he worked in project management positions. Mr Liu holds a Bachelor degree in Economics from Central University of Finance and Economics, China, and a Master degree in Commerce from the University of New South Wales, Australia.

Mr Nick Beattie, Chief Financial Officer and Joint Company Secretary

Mr Nick Beattie has over twenty years of experience in finance working with a range of international banks. Most recently he was a Managing Director in the BNP Paribas Upstream Oil and Gas team in London where he was responsible for leading the bank relationships with UK focused independent E&P companies. Nick has approximately ten years’ experience specifically financing the E&P sector and whilst at BNP Paribas, he structured and led numerous reserve based loans, development financings and other debt facilities. Prior to working with BNP Paribas, Nick worked as a Director within the Oil and Gas finance team at Fortis Bank covering Europe, Middle East and Africa and in a variety of roles with National Australia Bank Group. Nick is an Associate Member of the Association of Corporate Treasurers and a Fellow of the Chartered Institute of Bankers in Scotland.


Mr Lijun Xiu, Trinidad General Manager

Mr Xiu has a long and distinguished geological career of over 30 years working for the Research Institute of Petroleum Exploration & Development (a division of China National Petroleum Corporation), where most recently he was a Deputy Chief Geologist for one of the largest oilfields in Songliao Basin in China. Mr Xiu has extensive experience in oilfield exploration and development planning, drilling design, research on geological conditions for oil and gas accumulations and target selection, evaluation of oil reservoir properties and productivity construction, evaluation of well logging, and assessment of hydrocarbon reserves. Mr Xiu holds a Bachelor degree in Geological Prospecting from the Northeast Petroleum University in China. He also holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu has published more than 20 research papers in domestic and international academic journals. Mr Xiu is a Member of the Society of Petroleum Engineers.


Dr Douglas Field, Engineering Consultant

Dr Douglas Field is a petroleum and reservoir engineer with over 30 years' international exploration and production experience. Since 2003, he has held a number of engineering and business development posts at Tullow Oil plc, and from 2003-2007 was Group Engineering Manager where he was responsible for Tullow's petroleum, reservoir, well services, production and facilities engineers, and from 2007-2012 Business Unit Manager for Tullow’s activities in North and North West Africa. Prior to this, he worked in technical leadership positions for LASMO Grand Maghreb Ltd, Monument Oil and Gas plc, Centrica plc and BHP Petroleum Ltd. His experience includes running field and production operations in onshore Libya, Iran, Algeria, Angola and the North Sea. Dr Field holds a Ph.D. in Organic Chemistry from the University of Leeds.


Ms Sara Kelly, Joint Company Secretary

Ms Sara Kelly is an experienced Company Secretary and Corporate Lawyer with over 10 years’ experience. Sara has comprehensive knowledge and experience in administering regulatory frameworks and processes in a listed company environment and practised as a corporate lawyer specialising in acquisitions, takeovers, capital raisings and listing of companies on ASX and AIM. Sara has acted as the company secretary of a number of ASX listed companies.


Ms Evgenia Bezruchko, Group Corporate Development Manager

Ms Evgenia Bezruchko has an extensive experience in corporate development and capital markets in natural resources sector. Prior to joining Range in 2012, Evgenia worked in corporate broking and equity sales for an independent merchant bank Brandon Hill Capital (formerly Fox-Davies Capital Limited), covering a wide range of listed and private oil & gas and mining companies. Evgenia holds a BSc in Pharmacology from the University of Bristol, an MSc in Finance from the University of Westminster and an MBA from the American InterContinental University.


Mr James Warren, Group Financial Controller

Mr James Warren is a Chartered Accountant with over 10 years' experience, predominantly in the oil and gas sector. Prior to joining Range in 2014, James was the Group Financial Controller with AIM listed oil and gas company Ascent Resources plc. James had previously worked within BDO LLP’s natural resources department in London where his client portfolio included numerous AIM listed oil and mining companies with exploration and production assets. James holds a Bachelor degree in Economics with Hispanic studies from The University of Nottingham.




Range is a non DTR company, and as such, statutory disclosure of significant shareholdings is different and may not always ensure compliance with the requirements of AIM Rule 17. 

There are no shares held as treasury shares. 

Approximately 42% of Range’s AIM securities are not in public hands. 

There are no restrictions on the transfer of Range's AIM securities.


Beijing Sibo Investment Management LP  32 %
Abraham Limited  9 %
Barclayshare Nominees Limited  6 %
TD Direct Investing Nominees Limited (Europe)  4 %
Investor Nominees Limited  3 %
HSDL Nominees  3 %
Hargreaves Lansdown Limited  3 %
TD Direct Investing Nominees Limited  2 %
HSBC Client Holdings Nominees Limited (UK)  2 %
Other  36 %

UK Office
Range Resources Upstream Services Limited
10 Adam Street
T: +44 (0) 20 7520 9486
F: +44 (0) 20 7520 9487 

Australian Office
Ground Floor, BGC Centre
28 The Esplanade
WA 6000
T: +618 6205 3012


BDO Audit (WA) Pty Ltd
38 Station Street
Subiaco WA 6008
Tel: +61 8 6382 4600
Fax: +61 8 6382 4601

Cantor Fitzgerald Europe (Nomad and Broker)
One Churchill Place
London E14 5RB
Tel:  +44 207 894 7000

Range Resources Ltd Timeline

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