Range Resources Limited (“Range” or “the Company”) notes the recent weakness in the Company's share price and would like to report that it is not aware of any particular event that would account for this share price weakness.
The Company remains fully committed to delivering shareholder value from its portfolio of assets and is focused on ramping up production from its large scale operations in Trinidad, where production has increased by over 30% since April, with significant further increases expected as more wells come online and all 6 rigs get utilised simultaneously, following maintenance upgrades. In addition, well economics have improved with the implementation of the previously announced reductions in overriding royalty rates on the Morne Diablo and South Quarry fields.
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