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Resources round-up: Range Resources, African Copper, Wasabi ...

Fri, 08th Jun 2012 13:20

Wasabi Energy has reported that its Kalina Cycle licencee, FLSmidth, has secured a contract to install its second power plant using waste heat from a major cement plant. The plant will be installed in the second quarter of 2013 at a cement plant owned by Star Cement in United Arab Emirates. Wasabi Energy will receive a one-off licence fee based on the gross power output of the Kalina Cycle plant. The Executive Chairman of Wasabi Energy, John Byrne, explained that "through our licensing agreements, Wasabi Energy receives one-off licence payments of between $50,000 and $150,000 per installed MW, depending on the licensor and the particular industry."Oil and gas producer Range Resources has posted a significant increase to its proved and probable reserves for the North Chapman Ranch Project, Texas, in which Range holds a 20-25% interest. Proved oil reserves have, between December 2011 and June 2012, risen 64% to 8.4m barrels of oil; natural gas rose 65% to 106bn cubic feet and natural gas liquids climbed 60% to 8.0m barrels. It wasn't all good news though, as total oil reserves fell from 18.7m to 17.8m barrels, total natural gas fell from 242.5 to 227.5bn cubic feet and natural gas liquid declined from 18.9m to 17.5m barrels. The company now plans to divest its interest in the project during the third quarter of the current year. The firm added that sales prices of similar production assets in the region have been "encouraging", and said any such divestment will provide significant funding that could be applied to Range's current activities.African Copper, a producer and exploration company, has secured an additional loan of $6.0m from its controlling shareholder ZCI (84.19% ownership), which will be used to provide the company with further working capital for its Mowana Mine facilities, partially to cover the funding gap caused by the failure of the Ball Mill pinion shaft in May 2012. The loan is a secured loan facility with an annual interest rate of 7.0%, repayable on 31 March 2014. The facility is convertible into ordinary shares of 1p each in African Copper at a conversion price of 2.40p per share, with a maximum of just over 163m shares. If this occurred, ZCI would own 91.09% of African Copper. NR
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16 Aug 2018 15:35

Range Resources begins sales facilities upgrade at Beach Marcelle

(Sharecast News) - International oil and gas company Range Resources updated the market on its Trinidad operations on Thursday, reporting that it has commenced the sales facilities upgrade as part of its ongoing infrastructure modernisation activities at the Beach Marcelle field.

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16 Aug 2018 11:59

Range Resources To Upgrade Sales Facilities At Beach Marcelle Field

LONDON (Alliance News) - Range Resources Ltd said Thursday that it will upgrade sales facilities at the Beach Marcelle field in Trinidad to accommodate production growth at the field.The it

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6 Aug 2018 11:47

Range Resources To Provide Drilling Rig For Touchstone Exploration

LONDON (Alliance News) - Oil & gas company Range Resources Ltd on Monday said its subsidiary secured a contract with a subsidiary of Touchstone Exploration Inc.Under the deal, Range Ltd

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26 Jul 2018 12:37

Range Resources To Raise GBP1 Million In Discounted Subscription (ALLISS)

LONDON (Alliance News) - Range Resources Ltd said Thursday it intends to raise GBP1.0 million through a discounted share subscription to fund upgrades at its operations.Range will issue at

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6 Jul 2018 10:48

WINNERS & LOSERS SUMMARY: Inmarsat Falls After Rejecting EchoStar Bid

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.----------FTSE 100 - WINNERS----------ITV,

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6 Jul 2018 10:09

Range Resources Shares Rise As Reopened Well Starts Producing Oil

LONDON (Alliance News) - Range Resources Ltd on Friday said that its recently reopened POG-D well at Perlak field, Indonesia, is now producing oil.Shares in Range Resources were up 14% at a

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29 May 2018 10:23

Range Resources Starts Drilling At Perlak Field In Indonesia

LONDON (Alliance News) - Range Resources Ltd said Monday it commenced operations in the Perlak field in Indonesia, where it expects production to reach 200 barrels of oil per day.In an on a

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24 May 2018 12:40

Range Resources Exceeds Daily Production Target In Trinidad

LONDON (Alliance News) - Range Resources Ltd said Thursday it exceeded its target with average production over the past week of 820 barrels of oil per day.Range Resources shares were 14% at

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25 Apr 2018 18:28

Range Resources Notes Perlak Oilfield Incident Due To Illegal Drilling

LONDON (Alliance News) - Range Resources Ltd said on Wednesday it has been noted of an incident at the Perlak Oilfield in Indonesia, which has caused a blowout and a fire leading to multiple and a

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24 Apr 2018 11:13

Range Resources Third-Quarter Production Rises Despite Storage Issues

LONDON (Alliance News) - Oil and gas company Range Resources Ltd said on Monday it has set its production target for calendar 2018 following increased production in the third quarter of its the to

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22 Mar 2018 12:55

Range Resources Gets Work Programme, Budget Approval In Indonesia

LONDON (Alliance News) - Range Resources Ltd said on Thursday it has agreed a work programme and budget with Indonesia's state-owned oil and gas for a

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16 Mar 2018 12:18

Range Resources Interim Loss Narrows On Higher Production

LONDON (Alliance News) - Oil and gas company Range Resources Ltd said on Friday it saw a rise in production for the first half of its financial year, with lower expenses to a

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8 Feb 2017 14:14

Range Resources confirms $30m convertible note financing

(ShareCast News) - Shares in Range Resources are up almost 9% as it confirmed all conditions for a $30m convertible note financing have been met. This followed shareholder approval at a general meeting on Tuesday. The convertible note was to replace a portion of the outstanding payable balance due

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8 Feb 2017 08:20

Range Resources Meets All Conditions Needed To Issue New Loan Note

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31 Jan 2017 16:05

UK Shareholder Meetings Calendar - Next 7 Days

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