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Range Resources

RNS 13/9/17 - new well spuds

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 1:00 am

http://www.asx.com.au/asxpdf/20170913/p ... yl2j6b.pdf


NEW WELL SPUDS IN TRINIDAD
Range is pleased to advise that the QUN 161
development well in Trinidad
successfully spudded on 9
September 2017.
The well is drilling ahead to a total depth of 2,200 feet, expected to take approximately two weeks to
reach target depth. It is located at
the
Morne Diablo field and is targeting the Lower Forest and Upper
Cruse
horizons.
The well is being drilled by RRDSL, an established oilfield services provider which Range is in the process
of acquiring. The well is being drilled using rig 18 (with
a
drilling capability of 1,500 metres). Rig 18 is one
of the newer rigs in the
drilling fleet and has already been used to safely and successfully drill 3 wells
onshore Trinidad to date.
The Company will provide further updates in due course.
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emanon1
 
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Joined: Mar 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 6:46 am

Heh, I honestly thought this was a spoof. Wait, what! Range are still active ... I'm amazed.
suk
 
Posts: 19
Joined: Mar 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 7:22 am

Imagine exploring for oil and all that jazz.
rob295
 
Posts: 104
Joined: Dec 2015

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 7:35 am

This is a very significant RNS which could be a major game changer in Trinidad for Range, targeting both the lower forest and upper cruses formations. Just two weeks to TD using the biggest right in the RRDSL fleet. With the two new acquisitions and this spud it is clear that the BOD want to come out of suspension in a far better position than we went in.
Celticheart07
 
Posts: 82
Joined: Jul 2013
Location: Wales

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 8:08 am

I'm also hopeful CH.

Not sure about game changer statement. Haven'twe drilled these horizons before tho?

Other than that, yes would just like to see progress and see our sp increase on reopen. ...maybe under a new ticker too??
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Invester_Tester
 
Posts: 633
Joined: Jul 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 9:00 am

Bit odd that target depth is in feet and rig capability in meters
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Razzledazzle
 
Posts: 1970
Joined: May 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 9:01 am

Still 200 feet to spare I suppose
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Razzledazzle
 
Posts: 1970
Joined: May 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 9:21 am

CelticFart, Give it a rest.

We've drilled plently of QUN wells and in both of these formations. If anything I expect max 100-200 BOPD from these.

More likely is somewhere between 40-100 BOPD lol.

The significance is what happens with waterflood which looks like a massive flop at the moment.

The re-branding will be interesting but I find it highly unlikley Range or whatever the new name will be, will be re-rated in an upwards position.

Unless some significant news comes out about the recently acquired site or any other aquisition.

Just concerned looking at monies and debts and repayments :)
Jimmyrobby85
 
Posts: 1413
Joined: May 2013

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 10:55 am

IT
Not sure why you are so concerned about Range after your comment on Range on LSE yesterday ?
"Hope we relish soon. WAnna get out of this dead dog." - assuming that's you over there with same name.


As for this shallow development well, no guarantee well see oil but if we do I wouldn't expect any more than 50bopd.

Im more interested to see a) wtf is going on with waterflood and 2) what are 160 drillers going to do in the next 12 months - nice easy job if you can get it
Loadsa

Invester_Tester wrote:
> I'm also hopeful CH.
>
> Not sure about game changer statement. Haven'twe drilled these horizons
> before tho?
>
> Other than that, yes would just like to see progress and see our sp
> increase on reopen. ...maybe under a new ticker too??
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Loadsamoney
 
Posts: 3127
Joined: Mar 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 1:28 pm

Malcy's bit on this:

"Range has announced that it has spudded the QUN 161 development well on the Morne Diablo field, the well is targeting the Lower Forest and Upper Cruse horizons and will be at TD in around two weeks. It is being drilled by RRDSL which is being acquired by RRL using one of their newest and most up to date units. Although Range is still suspended I can’t imagine that it will be too long before the listing returns…"

Doesn't say much but trailing dots at end means he knows more than we do about timings?
RPG1983
 
Posts: 18
Joined: Oct 2013

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 1:33 pm

Back trading tomorrow according to a poster on iii who quotes Eva. Pinch of salt and all that.
rasclaat bambaclaat
 
Posts: 600
Joined: Mar 2012

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 2:16 pm

RSN tomorrow regarding listing I don't think Eve has not said RRL is relisting tomorrow
deshire
 
Posts: 6
Joined: Jul 2013

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 3:39 pm

Not unknown for Range to issue a follow up RNS after the London close.
Nedkellylandau
 
Posts: 1745
Joined: Mar 2013
Location: Lost on the Range

Re: RNS 13/9/17 - new well spuds

Post Wed Sep 13, 2017 9:45 pm

Apparently she said they want to relist but lots of paperwork to fill in. Ha. Wtf has the last 6 months been for then??!
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Razzledazzle
 
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Joined: May 2012

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