Range Resources Limited has completed the acquisition of 100% of SOCA Petroleum which in turn holds 100% of three exploration and production onshore oil and gas licenses, along with 100% of a fully operational drilling subsidiary with five exploration drill rigs, four production drill rigs and associated equipment and operational personnel.

The completion of the acquisition now immediately triggers the commencement of an aggressive work program that is expected to see a rapid increase in production from the existing reserve base as it moves towards its targeted production rate of 4,000 bopd from existing P1 and P2 reserves (currently production is 650-700 bopd). The program will also target the deeper (and potentially bigger) Herrera formation and untested areas not currently forming part of the current reserve base.

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