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Puntland well on track, says Red Emperor and Range Resources

Fri, 22nd Jun 2012 08:09

Shares in joint venture partners Range Resources and Red Emperor Resources slipped on Friday morning despite the announcement that its Shabeel North well in Puntland, Somalia, is on track.The well, which was spudded initially at the start of the month, is currently at a depth of 984m; it is targeting a total depth of 2,400m. "Drilling operations have progressed smoothly since spudding and remain on track to reach target depth on time and on budget," the companies said.Shabeel North, the second well in the current drilling campaign, is operated by Canadian group Horn Petroleum which owns a 60% interest. Range and Red Emperor have a 20% stake each. The well is targeting Upper Cretaceous Jesomma sands which had "good" oil and gas shows in the first well, Shabeel-1, 3.5km south of the current well.Red Emperor's shares fell 2.82% in early trading, while Range Resources dropped 3.27%.BC
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30 Jun 2015 09:54

Range Resources's partner abandons Somalian joint-venture

Oil explorer Range Resources said its joint venture partner Africa Energy has informed Somalian authorities of its intention to withdraw production sharing agreements (PSAs) related to the Nugaal Block and the Dharoor Block. Citing uncertainty over the current political climate in the region, especi

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30 Jun 2015 08:26

Range Resources Withdraws From Somalia Due To Political Uncertainty

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8 Jun 2015 11:11

LONDON MIDDAY BRIEFING: Summer Rumour Mill Gets Into Flow

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8 Jun 2015 10:48

WINNERS & LOSERS: Diageo Heads FTSE 100 Winners, Shire Leads Fallers

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8 Jun 2015 09:48

Range Resources jumps after trading resumes

Shares in Range Resources surged after trading on AIM was restored on Monday morning. It came after the group on Friday announced that it had received the first tranche of the funding package agreed with Beijing Sibo Investment Management. In exchange for the £5.2m, Sibo was issued with 650m new or

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5 Jun 2015 12:47

Range Resource Shares To Resume Trading As It Secures Funds (ALLISS)

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1 Jun 2015 10:23

Range Resources' Trinidad operations turn cash flow positive in May

Oil and gas explorer Range Resources said daily production from its operations in Trinidad & Tobago averaged 620 barrels of oil per day last month. As a result, the London-listed company reported positive cash flow in May, adding it expected the business to remain cash flow positive at the current o

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1 Jun 2015 09:14

Range Resources Gains First Positive Operating Cashflows Across Group

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29 May 2015 17:36

Range Resources Secures Long-Awaited GBP35 Million Funding

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26 May 2015 08:39

Range Resources Secures Up To USD35 Million In Funding (ALLISS)

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21 May 2015 10:56

UPDATE: Range Finalises Exploration Plan For St Mary's In Trinidad

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21 May 2015 07:57

Range Finalises Exploration Programme For St Mary's Block In Trinidad

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14 May 2015 12:11

Range Resources Has Little Time To Get Funding After Deal Falls Through

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13 May 2015 08:12

Range Resources Production Rises, Outlines 13 Well Work Programme

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30 Apr 2015 10:29

Range Resources Production Rises But Subsidiary Sale May Be Delayed

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