Range advises that the first development well, the MD 42N well, of the planned 22 well programme spudded on 4 September 2015 and is drilling ahead. The MD 42N is an infill well, located at the Company's Morne Diablo field, which will be drilled to a total depth of 3,120 ft., expected to take approximately 20 days. The well will be drilled to test the prolific Upper Cruse channel sand complex (secondary target) at depth of 1,650 ft. and the extent of the underlying Middle Cruse sand trend (primary target) at depth of 3,120 ft., also productive in the immediate area. Range's estimate of recoverable oil of the well is 72,000 barrels.

The drilling services will be provided by Range Resources Drilling Services Limited, a wholly owned subsidiary of LandOcean Energy Services Co., Ltd. The well will be drilled using rig 2, which has recently undergone government and regulatory inspections. If considered feasible, once the surface casing is run and cemented at 700 ft. RRDSL will swap rig 2 for rig 6 to finish drilling the well. If this is done, the drilling time could be extended by approximately 7 days.

Tags: Range Resources Limited