www.rangeresources.com.au
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.
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.
Range Resources denies ‘defamatory’ comments by Australian broadsheet over alleged ties to Somali pirates
Range Resources Ltd has categorically denied it has any ties to Somali oil pirates, as stated in an article in Australian broadsheet The Age, saying it will be pursuing all legal options with regards to the article.
In a report headed ‘Mining Firm tied to Somali Oil Pirates’, The Age claimed that Range Resources “has paid millions of dollars in controversial fees to Somali rebels responsible for a surge in international piracy, including the hijacking this week of a supertanker off the Kenyan coast.
The report said the oil explorer has paid the disputed government of the Puntland State of Somalia more than $US6 million since 2005 for resource rights to the region, benefiting ruling clans that are suspected of controlling piracy off the coast of Somalia.
In today’s statement, Range said it cannot comprehend how legitimate, disclosed payments to an elected, autonomous government can been described as "fees to Somali rebels, responsible for piracy."
Regarding the legitimacy of the government of Puntland, the company said it was elected by tribal clans representing the Puntland region and an election process is currently underway in Puntland with regards to the election of a new parliament and president. “To suggest that the government is disputed implies that the Puntland people do not have the right to appoint parliamentary members who then elect the president of Puntland,” it said.
It reiterated statements it made at the end of October in respect of the piracy problem, saying: “The Puntland government and His Excellency President Hersi are heavily involved in discussing proposed security options which adds, in Range's opinion, significant diplomatic credibility and recognition to Puntland.”
“Further, the Puntland Government is involved in a number of joint initiatives with foreign countries (including France, Germany and the USA) to assist with combating the piracy problem.”
Range also said it does not have a ‘mysterious joint venture partner’ as the article suggests: Africa Oil Corporation is the company's joint venture partner on its two onshore oil concessions in Puntland.
