Range Resources announces Guatemala Update
Range Resources Limited (“Range” or “the Company”) would like to draw attention to the announcement released today by Citation Resources Limited (ASX:CTR) with respect to the Company’s interest in Guatemala with the following highlights:
Atzam #5 development well to spud in November – construction of drilling location significantly advanced after heavy late season rains during September and early October
• Atzam #4 continues on production – strong flow rates and well head pressure maintained (250‐300 psi) on highly restricted choke (12/64 inch), with no water production to date
•New sales contract for 1,500 barrels completed with Perenco Guatemala
•Total sales exceeding of 13,000 barrels completed since August
•Revenue netbacks received of approximately $60 per barrel
•20mmbbl 2C contingent resource estimate under review following Atzam #4 success
•Material exploration upside at Atzam – unexplored salt dome and anticline structures to be evaluated and tested in 2014
•Planning for Tortugas Salt Dome re‐entry operations on 63‐4 and 63‐5 wells are advancing with the Operator and relevant service providers
Range has a direct and indirect 32% interest in the Guatemalan Project.
Further details are contained in the Citation Resources announcement, which can be accessed at:
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