Operations


Puntland 

Range holds a 20% working interest in two Production Sharing Agreements (PSAs) for the Nugaal and Dharoor Blocks. These concessions encompass two highly prospective hydrocarbon basins covering an area of approximately 40,000km2. In January 2012, Range together with its joint venture partners successfully spud the historic Shabeel 1 well in the Dharoor Valley, the first in a two well exploration program and the first exploration well in Puntland in over 25 years, with the Shabeel North well having been spud soon after the completion of the Shabeel 1 well.

Despite the non-commercial nature of the two wells the joint venture partners were extremely encourage that all of the critical elements exist for oil accumulations, namely a working petroleum system, good quality reservoirs and thick seal rocks, and have entered into the next exploration period in both the Nugaal and Dharoor Valley Production Sharing Contracts which carry a commitment to drill one well in each block within an additional 3 year period.

It is the intention that further seismic will also be acquired in the Dharoor Valley to delineate new structural prospects for the upcoming drilling campaign plus to hold discussions with the Puntland Government to gain access regarding drill ready prospects in the Nugaal Valley block. 

 

Dharoor and Nugaal Block Summaries*

Block Summary
Block Partners Gross Area
(sq. km.)
Gross Best Estimate
(MMBbl)
Range's Net Best Estimate
(MMBbl)
Dharoor Horn (Operator) 60%
Range Resources 20%
Red Emperor 20%
14,384 1,210 242
Nugaal Horn (Operator) 60%
Range Resources 20%
Red Emperor 20%
21,784 4,083 817

*Source - Horn Petroleum Corp.