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Article: RANGE RESOURCES LTD - Range acquires interest in a strategic US asset.
- Article from:
- PR Newswire UK Disclose
- Article date:
- September 21, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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21 September 2009
Company Announcements
Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000
Range acquires interest in a strategic US asset
Highlights:
* Range acquires a 25% interest in well known Texas oil and gas field, with
drilling at project already underway,
* Low entry cost - To fund drilling of Smith #1 Well (AUD$1m) and in the
event of a discovery fund costs to production (AUD$350,000),
* Significant infrastructure in place and timing to first sales will be
approximately three months upon a discovery being made, with an estimated
payback period of 8 - 10 months.
Australian based oil ...
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