Range Resources Limited is a dual listed (ASX:RRS; AIM:RRL) exploration and production company, with a diverse portfolio of oil and gas assets and a strategic focus on Trinidad, where the Company holds 100% interest in three onshore production licenses. Range has further interests in Guatemala; Puntland, Somalia; Colombia; Georgia; and Texas, USA.
Range holds a 100% interest in three onshore production licenses and fully operational drilling subsidiary. Independently assessed Proved (1P) reserves in place of 19.0 MMBO with 28.2 MMBO of proved, probable and possible (3P) reserves. Range also has a farm in with Niko Resources giving it exposure to circa 280,000 acres of prospective onshore and offshore acreage.
Range has taken a strategic stake in Citation Resources Limited (ASX: CTR) which holds a 60% interest in Latin American Resources (LAR). LAR holds an 80-100% interest in two oil and gas development and exploration blocks in Guatemala with Canadian NI 51-101 certified proved plus probable (2P) reserves of 2.3 MMBBL (100% basis). Range also holds a 20% interest in LAR.
Range holds a 45% farm-in interest in onshore blocks VIa and VIb, covering approx. 7,000sq.km. The Company is focussing on a revised development strategy that will focus on low-cost, shallow appraisal drilling of the contingent resources around the Tkibuli-Shaori (“Tkibuli”) coal deposit, which straddles the central sections of the Company’s two blocks, along with attracting potential farm-in partners across the license areas given the recent review performed across the licenses.
Range holds a 20% working interest in two licenses encompassing the highly prospective Dharoor and Nugaal valleys. The operator and 60% interest holder, Horn Petroleum Corp. (TSXV:HRN) has completed two exploration wells and will continue with a further seismic and well program over the next 12-18 months.
Range holds 10% interest in three exploration blocks, PUT-5, VMM-7, and VSM-1, located in mature basins of the Putumayo and Magdalena Valley.