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Range, Red Emperor optimistic about Somalian well

Wed, 06th Jun 2012 07:37

AIM-listed oil and gas peers Range Resources and Red Emperor Resources have announced that their jointly-owned Shabeel North well in Puntland, Somalia, has been spudded.The well, the second 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.It is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel-1 well 3.5km to the south. Analysis of Shabeel-1 showed a potential pay zone of up to 12-20 metres with an average porosity of 18-20%. "It is planned to bring the rig back to the Shabeel-1 location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed."The planned target depth of the second well is 2,400 metres and drilling is expected to take 45 to 60 days to complete."This is another very significant milestone in what has so far been a very positive drilling campaign. The fact that Shabeel-1 showed a strong presence of reservoir rock and hydrocarbons as well as a potential net commercial oil pay, gives a very good indication that this well will do the same," said Red Emperor's Managing Director Greg Bandy.Meanwhile, Horn's President and Chief Executive Officer David Grellman said: "The results of this well should help us confirm the extent of the petroleum system in the basin and, if successful, would be another step towards proving the economic potential of the basin."BC
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5 Dec 2016 10:08

Range Resources reports drilling campaign successes

(ShareCast News) - Range Resources announced on Monday that the QUN 160 development well in Trinidad that spudded on 9 November, was successfully drilled to a total depth of 2,140 feet on 22 November. The AIM-traded firm said the well was originally planned to be drilled to 2,600 feet, however it wa

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11 Nov 2016 11:15

Range Resources' Trinidad oil well spuds

(ShareCast News) - AIM-listed oil and gas explorer Range Resources announced that its fourth well in Trinidad has spudded. The QUN 160 development well in in the Morne Diablo field spudded on 9 November and is being drilled to a depth of 2,600 feet, which is expected to take about three weeks to rea

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31 Oct 2016 13:46

Range Resources plans $20m convertible loan note

(ShareCast News) - Range Resources plans to issue a three-year, $20m convertible note after inking an agreement with LandOcean Energy Services Co Ltd. It said proceeds from the note would be used solely to replace a portion of the outstanding payable balance due to LandOcean under the terms of the I

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19 Oct 2016 08:57

Range Resources Third Quarter Production Flat, More Wells Planned

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3 Oct 2016 09:19

Range Resources Reports USD38 Million Loss On Trinidad Impairments

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18 Jul 2016 09:54

Range Resources starts drilling MD 251 development well

(ShareCast News) - Range Resources has started drilling the MD 251 development well in Trinidad. The AIM-listed company said the well is drilling ahead to a total depth of 3,900 feet and is expected to take around three weeks to reach target depth. This will be a directional well to test the Middle

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18 Jul 2016 08:13

Range Resources Starts Drilling Latest Development Well In Trinidad

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22 Jun 2016 07:04

Range Resources To Drill New Well In July And Reviews Workover Plan

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31 May 2016 10:48

Range Resources Welcomes Start Of Injection On 2nd Waterflood Project

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27 May 2016 07:37

Range Resources Says AIM Shares Unaffected By ASX Suspension (ALLISS)

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25 May 2016 08:51

Range Resources Names Zhiwei Gu Chairman As David Chen Steps Down

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17 May 2016 14:57

Range Resources, Lind Asset Management settle dispute

(ShareCast News) - Range Resources and Lind Asset Management have reached a binding agreement to settle all of their outstanding claims and disputes. Under the terms of the deal that draws a line under the pair's long-running dispute, Range has paid $0.325m to Lind, which would keep 38m collateral s

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17 May 2016 09:31

Range Resources Reaches Settlement With Lind Asset Management

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12 May 2016 08:47

Range Resources To Drill Follow Up Development Well In Trinidad

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9 May 2016 07:15

Range Resources Must Grow Production To Benefit From New Royalty Rate

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