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(RRL.L) Range Resources Ltd Buy/Sell
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| Date/Time | Headline | Source |
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| 19-11-09 | PRN |
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ASX Announcement 19 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, and additional open-hole evaluation was undertaken as the well approached target depth. As previously announced, the Smith #1 exploration well has reached its revised total depth of 13,975 ft. (4,260m) with additional electric logs having been run. A production liner has been run to bottom and the liner has been successfully tied back to the surface. Preparation is underway to move a completion rig in whereby testing of the well can commence. Well Details
Figure 1: Unit Texas Rig #35 on Smith #1 well - please see website. Background on North Chapman Ranch Range holds a 25% working interest in the drilling of the Smith #1 well. 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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| 12-11-09 | PRN |
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ASX Announcement 12 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, and additional open-hole evaluation was undertaken as the well approached target depth. The Company is pleased to report that the Smith #1 has now reached its revised total depth of 13,975 ft. (4,260m) and additional electric logs have been run. A production liner has been run to bottom and the well currently awaits testing. Well Details
Figure 1: Unit Texas Rig #35 on Smith #1 well - please see website. Background on North Chapman Ranch Range holds a 25% working interest in the drilling of the Smith #1 well. 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) 9488 5220 Em: plandau@rangeresources.com.au
RFC Corporate Finance (Nominated Advisor) Fox-Davies Capital (Broker)
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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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| 12:11 |
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Seismic analysis to be completed by March/April and commencing shortly
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| 12:08 | ||||
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AOI to get a 12 month extension of PSA for Dharoor Valley with official amended PSA signing with Puntland Govt in 1st or 2nd week of December
Mobilisation by AOI in January with spudding in May/June Dharoor structures as big as Nugal............MegaOil More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 12:04 |
BUY
Texas
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Production rig testing taking place and hopeful of 200BCF
Flow rates should be known in 2 weeks, income producing in 3 months Possibile further 5 to 12 wells in the fields More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| Fri 13:43 |
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Just to remind people why we invested
Smith target 80bcf of gas Onshore puntland drilling Q1 2010 regards vsm More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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