Assets

OVERVIEW OF ASSETS

Trinidad

Range is one of the largest independent onshore operators in Trinidad, with existing production and a solid reserve base.  The Company first entered Trinidad in 2011 and currently holds a 100% interest and operatorship in three production licences onshore Trinidad – Morne Diablo, South Quarry and Beach Marcelle, as well as interests in three exploration licences: St Mary’s, Guayaguayare Shallow* and Guayaguayare Deep*.

The Company has an active ongoing work programme on its production licences aimed at production growth, including workovers, development drilling and secondary recovery (waterflood).

The principal operational focus has been on implementing a waterflood programme at the Beach Marcelle field. Range believes that full implementation of the waterflood projects, which account for the majority of the reserves of the Company, are key to its longer-term production growth in Trinidad.

The Company’s upstream operations are supported by an in-house oilfield services business, with one of the most modern and efficient rigs in the region. Further information on Range's oilfield services business can be found here: www.rangedrilling.com

*The Production Sharing Contracts relating to Guayaguayare expired in 2015. Any renewal will be subject to government and other regulatory approvals.

INDONESIA

During 2017, Range expanded its footprint by acquiring a 23% interest (to increase to 42% upon completion of the minimum work programme) in the Perlak field located in a mature hydrocarbon province of the Northern Sumatra. The Perlak field is one of the oldest producing oilfields in the world, first discovered in 1899. It lies on-trend with many producing hydrocarbon fields, including the giant Arun field. 

The work programme is planned to commence in Q2 2018 and is aimed at swiftly re-initiating production from the existing wells through well reopening and workovers.