Range Resources up on Trinidad flow rates

Range Resources says initial production rates at a new well in Trinidad have peaked at 102 barrels of oil per day.The QUN118ST well, located onshore at the Morne Diablo concession, has stable production of 84 barrels per day under natural pressure.Peter Landau, Range's Executive Director, says the firm is "extremely pleased" with the production rates.In a separate announcement, related to its interests in Texas, Range says its joint venture at North Chapman Ranch has run a casing on the Albrecht #1 well. If successful Albrecht #1 could support a re-classification of current "possible" reserves into the "probable" and "proved" categories.Range Resources' share price had gained 0.73% by 08:29. In the last year the stock is up 21%.BS