Range Resources Limited Indonesia Operations Update (7870T)
July 06 2018 - 1:00AM
UK Regulatory
TIDMRRL
RNS Number : 7870T
Range Resources Limited
06 July 2018
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE
("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
INDONESIA OPERATIONS UPDATE
Range, an international oil and gas company with assets in
Trinidad and Indonesia, and an oilfield services business in
Trinidad, provides an update on the operations at the Perlak field,
Indonesia.
As previously announced, the operator of the project commenced
reopening and workover operations on the selected wells. Following
the reactivation operations on the first well (POG-D), the well
produced 145 barrels of high-quality light oil from one of the
multiple production zones over intermittent pumping periods of
approximately 117 hours during a two-week timeframe. Further
studies and tests are underway to establish a stable production
rate.
The rig was subsequently mobilised to the second well in the
work programme (the POG-E well) and commenced reopening and
workover operations on the well. There is a downhole obstruction in
the well, which workover operations are attempting to remove.
As announced on 22 March 2018, the agreed programme for the year
comprises reopening of up to ten existing, previously producing
wells; two workovers of previously producing wells (POG-D and POG-E
wells); and geological, geophysical and integrity studies.
The work programme is expected to add up to 200 bopd of
production (gross). The produced oil will be trucked to Pertamina
EP Pangkalan Susu field located 153 km away and exclusively sold to
Pertamina, an Indonesian state-owned oil and natural gas
corporation.
Contact Details
Cantor Fitzgerald Europe (Nominated
Range Resources Limited Adviser and Broker)
Evgenia Bezruchko (Group Corporate David Porter / Nick Tulloch (Corporate
Development Manager) Finance)
e. admin@rangeresources.co.uk t. +44 (0)20 7894 7000
t. +44 (0)20 3865 8430
Note relating to statutory disclosure of significant
shareholdings
Statutory disclosure of significant shareholdings (as defined in
the AIM Rules) is different for Australian companies and may not
always ensure compliance with the requirements of Rule 17 of the
AIM Rules. All shareholders who are holding (directly or
indirectly), 3% or more of the issued and outstanding Ordinary
Shares are requested to notify the Company without delay of any
changes to their holding which increase or decrease such holding
through any single percentage. Likewise, shareholders who acquire
3% or more of the issued and outstanding Ordinary Shares are
requested to notify the Company without delay.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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