18th Feb 2010 09:31
18 February 2010
Company AnnouncementsAustralian Securities ExchangeExchange Plaza2 The EsplanadePERTH WA 6000By E-lodgmentTEXAS UPDATE
Range Resources Limited ("Range" or "the Company") would like to announce a further update on the Company's US Gulf Coast interests leading into the closing date of the rights issue, Friday 19 February 2010.
The pipeline has now been connected to the sales meter and is in the process of being connected to the well meter. Once this is completed, the line will be cleaned and hydro pressure tested. Following purging of the test fluid, gas sales can commence, which is currently forecast to occur over the weekend - 21/ 22 February 2010.
The Company will continue to provide further updates on the progress of its portfolio of assets.
For and on behalf of the Board
RegardsPeter LandauExecutive DirectorContactsRange ResourcesPeter LandauTel : +61 (8) 8 9488 5220Em: [email protected] LondonPPR Conduit PRDavid Tasker Jonathan CharlesTel: +61 (8) 9388 0944 Tel: + 44 (0) 20 7429 6666Em: [email protected] Em: [email protected] Corporate Finance (Nominated Advisor) Old Park Lane Capital (Broker)Stuart Laing Michael ParnesTel: +61 (8) 9480 2500 Tel: +44 (0) 207 493 8188Range Background
Range Resources is a dual listed oil & gas exploration company with oil & gas interests in the frontier state of Puntland, Somalia, the Republic of Georgia and Texas, USA.
* In Puntland, Range holds a 20% working interest in two licences encompassing the highly prospective Dharoor and Nugaal valleys with plans to drill two wells - 65% Operator, in 2010. * In the Republic of Georgia, Range holds a 50% farm-in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. Currently, Range is undertaking a 350km 2D seismic program. * Range holds a 25% interest in the North Chapman Ranch project, Texas. The project area encompasses approximately 1,680 acres in one of the most prolific oil and gas producing trends in the State of Texas. Drilling of the first well has resulted in a commercial discovery with production due to commence Feb 2010.
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