Highlights:
- Range increases its Trinidad footprint by 280,000 gross acres through the formal execution of a farm-in with Niko Resources Ltd. on the Guayaguayare block in Trinidad;
- The Farm-in provides Range with broad exposure to both onshore and offshore potential with excellent synergies between Range’s three existing blocks and the Guayaguayare block;
- Range to gain exposure to both shallow and deep oil-producing horizons within the Guayaguayare block, including the highly prospective Cretaceous section, believed to be the source rock for Trinidad’s prolific onshore petroleum system; and
- Multiple onshore areas within the Guayaguayare block represent (on a 100% interest basis) a best case prospective resource of approximately 100 MMbo, while the offshore areas have a best case prospective resource of 33 MMboe.
Range Resources Limited (“Range” or “the Company”) is pleased to announce that further to its announcement on 4 July 2013, the farm-in agreement has now been formally executed with Niko Resources Ltd. (“Niko”) (TSX:NKO) the leading Canadian exploration and development company, regarding the Guayaguayare Block in Trinidad. The farm-in agreement is subject to final regulatory approval.
For further information please download PDS below:
