Assets

OVERVIEW OF ASSETS

Trinidad

The Company holds a 100% interest in three production licences in Trinidad – Morne Diablo, South Quarry and Beach Marcelle, as well as interests in two exploration blocks – St Mary’s and Guayaguayare.

The principal operational focus in Trinidad has recently been on implementing a secondary recovery waterflood programme at the Beach Marcelle and Morne Diablo fields. Range believes that full implementation of the waterflood projects, which account for the majority of the reserves of the Company, are important to its production growth in Trinidad.

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 Northeast Sumatra. The 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 planned work programme is aimed at swiftly re-initiating production from the existing wells, firming up the field development plan, and fully exploiting the potential resources.

The initial geological and geophysical studies have commenced.