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(RRL.L) Range Resources Ltd Buy/Sell
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| Date/Time | Headline | Source |
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| 05-11-09 | PRN |
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ASX Announcement 5 November 2009
Update by Australian based oil and gas explorer Range Resources Limited (ASX: RRS; AIM: RRL) ("Range" or "the Company") on its exploration drilling program in the North Chapman Ranch area, Texas. Smith #1 well, North Chapman Ranch The Smith # 1 exploration well spudded on 4 September 2009. Surface casing was set and cemented at 1,528 ft (465m) and the well was subsequently drilled to the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly thereafter. Drilling recommenced as per the announcement 30 October 2009. Open-hole evaluation is currently being undertaken as the well approaches target depth in line with prudent industry practice. Well Details
Figure 1: Unit Texas Rig #35 on Smith #1 well - please refer to website. Background on North Chapman Ranch Range holds a 25% working interest in the drilling of the Smith #1 well. The well is programmed to an approximate depth of 14,200 ft (4,329m). If successful, the Smith #1 well could trigger significant oil and gas production and development drilling with very attractive economics, at a time when exploration and development costs in the US have dropped dramatically. Range will continue to update the market on a weekly basis during its exploration drilling program. End For further information please contact: Range Resources Peter Landau Tel : +61 (8) 8 9488 5220 Em: plandau@rangeresources.com.au
RFC Corporate Finance (Nominated Advisor) Fox-Davies Capital (Broker)
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| 30-10-09 | PRN |
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30 October 2009
QUARTERLY REPORT FOR PERIOD ENDING 30 SEPTEMBER 2009 The Board is pleased to provide the following commentary to be read in conjunction with the Appendix 5B which is attached. Puntland Africa Oil (80% interest, 15% subject to farm-out by Africa Oil to Raytec), Range's Joint Venture partner on the two on-shore Puntland concessions and the Puntland Government continued negotiations to formalise the commencement of the proposed drilling program for Q1 2010. Finalisation is scheduled for the current quarter (Q4 2009). Following technical presentations to the Government on the proposed offshore areas of interest, Range continues negotiations regarding the formalisation of a new PSA with respect to the exploration and development of off shore Puntland. Georgia In July 2009 the Company entered into a Heads of Agreement with unlisted UK Company, Strait Oil & Gas (UK) Limited to acquire a 50% farm-in interest in two Oil & Gas blocks in Georgia, Eastern Europe. The two blocks subject to this agreement, Blocks VIa and Vlb cover a contiguous area of 7,000 sq km (approx 10% of the surface area of the Country) and were subject to significant exploration in the Soviet era. Led by Range's seasoned international energy executives, the Company is well placed (in conjunction with Strait's established team) to find and produce commercial volumes of oil and natural gas on the Georgian Blocks. On 4 September 2009 at the Company's General Meeting, shareholders approved the acquisition subject to completion of due diligence and all necessary regulatory approvals. The process should be finalised in November 2009. During the quarter, key activities undertaken by Strait included: a. commencement of study into the viability of previously drilled wells to assess potential for Gas production; b. Seismic contractor selected to complete proposed 350 km 2D seismic programme. Contractor available immediately upon Strait/Range confirmation; and c. All necessary environmental impact studies completed for seismic programme. Figure 1. Previous evidence of Oil and Gas - please see website. Direct indications of oil have been documented from wells drilled within, and contiguous to Blocks VIA & VIB Texas During the quarter, Range acquired a 25% working interest in the North Chapman Ranch project located in Nueces County, Texas. The project area encompasses approximately 1,280 acres in one of the most prolific oil and gas producing trends in the state of Texas. Smith #1 Well - North Chapman Branch The exploration well Smith #1 spudded on 4 September 2009. Surface casing was set and cemented at 1,528 ft (465m) and the well was subsequently drilled to the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly thereafter. Well Details
Current depth (30 10 09) ~13,350 ft (4,069m)
Figure 1: Unit Texas Rig #35 drilling ahead on Smith #1 well - please see website. North Chapman Ranch Background North Chapman Ranch is situated within the prolific Frio producing trend just north of the Chapman Ranch in the Mobil David and Doughty Fields. The Mobil David field was discovered in 1965 when Mobil drilling the Chapman #1B well and completed the well in the Laureles Sand (now the Howell Hight). Since then, an estimated 250 billion cubic feet of natural gas and more than 10 million barrels of oil have been produced from this field, primarily from the Anderson sandstone. Recently, several operators in the area have been successfully developing the deeper Howell Hight formation, with some wells exhibiting flow rates in the 6-9 million cubic feet per day range. The currently drilling Smith #1 well is programmed to test the Howell Hight formation in a location near that of the recently drilled Zdansky #1 well. The operator was unable to complete the Zdansky well due to hole problems. If successful, the Smith #1 well could trigger significant oil and gas production and development drilling with very attractive economics, at a time when exploration and development costs in the US have dropped dramatically. In addition, the favourable operating and regulatory environment in Texas serves to mitigate perceived political risk associated with Range's other international exploration projects. Capital Raising The Company successfully completed a Placement of 100 m ordinary fully paid shares at an issue price of 3.5 cents with a free attaching listed option (5 cents , 31 December 2011 ) to sophisticated and institutional investors raising $3.5 m to assist in meeting the initial requirements of the Georgian acquisition, Puntland operations and working capital. The Placement was completed in two tranches (20 m shares up front to raise $700,000 ) with the balance (80 m shares and 10 0m options) approved by shareholders at the Company's General Meeting on 4 September 2009. Corporate The Company's Annual Report and Notice of Annual General Meeting has been despatched to shareholders and can be viewed on the Company's website www.rangeresources.com.au By order of the Board Peter Landau Executive Director Contacts Range Resources Peter Landau Tel: +61 8 9488 5220 Em: plandau@rangeresources.com.au
RFC Corporate Finance (Nominated Advisor) Fox-Davies Capital (Broker)
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Consolidated statement of cash flows
activities
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
Non-cash financing and investing activities
2.1 Details of financing and investing transactions which have had a material
N/A
N/A Financing facilities available Add notes as necessary for an understanding of the position.
Estimated cash outflows for next quarter
Reconciliation of cash
quarter (as shown in the consolidated
items in the accounts is as follows.
1.22) Changes in interests in mining tenements
6.2 Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. ____________________ Peter Landau Executive Director 30 October 2009 Notes 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2. 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. END More |
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| 26-10-09 | PRN |
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ASX Announcement 23 October 2009
Update by Australian based oil and gas explorer Range Resources Limited (ASX: RRS; AIM: RRL) ("Range" or "the Company") on its exploration drilling program in the North Chapman Ranch area, Texas. Smith #1 well, North Chapman Ranch The exploration well Smith #1 spudded on 4 September 2009. Surface casing was set and cemented at 1,528 ft (465m) and the well was subsequently drilled to the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly thereafter.
Figure 1: Unit Texas Rig #35 drilling ahead on Smith #1 well - please see website. Background on North Chapman Ranch Range holds a 25% working interest in the drilling of Smith #1 well. The well shall be drilled to an approximate depth of 14,200 ft (4,329m) or to a depth sufficient to test the Howell Hight formation. If successful, the Smith #1 well could trigger significant oil and gas production and development drilling with very attractive economics, at a time when exploration and development costs in the US have dropped dramatically. Range will continue to update the market on a weekly basis during its exploration drilling program. End For further information please contact: Range Resources Peter Landau Tel : +61 (8) 8 9488 5220 Em: plandau@rangeresources.com.au
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| 21-10-09 | PRN |
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21 October 2009 Australian Securities Exchange Level 4, 20 Bridge Street SYDNEY NSW 2000 Via e-lodgement
ANNUAL REPORT AND NOTICE OF MEETING Please find attached the Company's Notice of Annual General Meeting that has been despatched to shareholders. A copy of the full explanatory statement is available on the company's website along with the Company's Annual Report www.rangeresources.com.au For and on behalf of the Board Yours faithfully Peter Landau Executive Director Range Resources Limited
NOTICE OF ANNUAL GENERAL MEETING
This Notice of Meeting should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their professional advisers prior to voting. Should you wish to discuss the matters in this Notice of Meeting please do not hesitate to contact the Company Secretary on (+61 8) 9488 5220.
CONTENTS PAGE Notice of Annual General Meeting (setting out the proposed resolutions) 3
TIME AND PLACE OF MEETING AND HOW TO VOTE
VENUE The Annual General Meeting of the Shareholders to which this Notice of Meeting relates will be held at 12:30 pm (WST) on Friday, 20 November 2009 at: The University Club of WA Seminar Room 1 Hackett Drive (Entrance Carpark 3) Crawley, WA 6009
YOUR VOTE IS IMPORTANT The business of the Annual General Meeting affects your shareholding and your vote is important.
VOTING IN PERSON To vote in person, attend the Annual General Meeting on the date and at the place set out above.
VOTING BY PROXY To vote by proxy, please complete and sign the enclosed Proxy Form and return by: (a) post to Range Resources Limited, Level 3, 1 Havelock Street, West Perth WA 6005; or (b) facsimile to the Company on facsimile number (+61 8) 9324 2400, so that it is received not later than 12:30 pm (WST) on 18 November 2009. Proxy Forms received later than this time will be invalid. NOTICE OF Annual GENERAL MEETING Notice is given that the Annual General Meeting of Shareholders will be held at 12:30 pm (WST) on Friday, 20 November 2009 at The University Club of WA, Seminar Room 1, Hackett Drive (Entrance Carpark 3), Crawley, WA 6009. The Explanatory Statement to this Notice of Meeting provides additional information on matters to be considered at the Annual General Meeting. The Explanatory Statement and the Proxy Form are part of this Notice of Meeting. The Directors have determined pursuant to Regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Annual General Meeting are those who are registered Shareholders of the Company no later than the close of business on 18 November 2009. Terms and abbreviations used in this Notice of Meeting and Explanatory Statement are defined in the Glossary.
AGENDA Ordinary business Financial Statements and Reports To receive and consider the annual financial report of the Company for the financial year ended 30 June 2009 together with the declaration of the Directors, the Directors' report, the remuneration report and the auditor's report. The reports referred to above are included in the Annual Report sent to those shareholders who elected to receive a hard copy. A copy of the report is also available on our website www.rangeresources.com.au. 1. Resolution 1 - Adoption of remuneration report To consider and, if thought fit, to pass, with or without amendment, the following resolution as a non-binding resolution: "That, for the purpose of Section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the remuneration report as contained in the Company's annual financial report for the financial year ended 30 June 2009." 2. Resolution 2 - Re-election of director - mr peter landau To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: "That Mr Peter Landau, a Director who retires by rotation in accordance with clause 53.1 of the Constitution and being eligible, is hereby re-elected as a Director." 3. Resolution 3 - Re-election of director - mr marcus edwards-jones To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: "That Mr Marcus Edwards-Jones, a Director who retires by rotation in accordance with clause 53.1 of the Constitution and being eligible, is hereby re-elected as a Director." 4. Resolution 4 - ratification of prior issue of shares To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: "That, for the purpose of ASX Listing Rule 7.4 and for all other purposes, Shareholders ratify the allotment and issue of 68,947,994 Shares on the terms and conditions set out in the Explanatory Statement." Voting Exclusion: The Company will disregard any votes cast on this Resolution by a person who participated in the issue and any of their associates. However, the Company need not disregard a vote if it is cast by a person as a proxy for a person who is entitled to vote in accordance with the directions on the Proxy Form or it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the Proxy Form to vote as the proxy decides. 5. resolution 5 - approval to issue listed options To consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution: "That, for the purpose of ASX Listing Rule 7.1 and for all other purposes, approval is given for the Company to allot and issue 68,947,994 Listed Options on the terms and conditions set out in the Explanatory Statement." Voting Exclusion: The Company will disregard any votes cast on this Resolution by a person who may participate in the issue and any of their associates. However, the Company need not disregard a vote if it is cast by a person as a proxy for a person who is entitled to vote in accordance with the directions on the Proxy Form or it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the Proxy Form to vote as the proxy decides. DATED: 19 October 2009
BY ORDER OF THE BOARD Anthony Eastman COMPANY SECRETARY
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| Fri 10:42 | ||||
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Just for information here is a link to the smith #1 update yesterday with a pic of the smith #1 rig
http://www.asx.com.au/asxpdf/20091105/pdf/31lwd7srdsz04r.pdf More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| Fri 10:26 | ||||
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Smith will bepreliminary but not a prerequisite to Puntland.
Puntland always has been the main game, there is no need to traverse their attention back to it. That is the priority of African Oil and they are very focussed as they are the operator, Range is the facilitating middle man with the Political clout. The direct focus for Range will actually be Georgia and then offshore Puntland. Current meetings in Africa must be going to schedule hence the volume. Smith is a sweetner as I said, but will prove to be very sweet. More | View thread (8) | Respond | Login to Vote up | Login to Vote down |
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| Fri 09:50 | ||||
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mike,
No target as of... will see what happens after texas as i see this as a preliminary/prerequisit for Puntland, should drilling commence there soon... i will then set a target, depending on how long it takes them to traverse their attention of operations from Texas to Puntland will affect the SP too. The Texas farm in by all means could push RRL into a new trading range... but if Puntland does'nt follow soon after, there could be a drift... More | View thread (8) | Respond | Login to Vote up | Login to Vote down |
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| Fri 09:42 | ||||
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yep... and in Oz: -
http://uk.finance.yahoo.com/q?s=RRS.AX there is alot of buying over there... finising the last three sessions with 9mill, 2.5 mill, 4.5 mill shares bought, bodes well (excuse pun!) More | View thread (8) | Respond | Login to Vote up | Login to Vote down |
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