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Range Resources provides Guatemala update


Published Jan 16, 2014
Range Resources Limited

Range Resources Limited provides Guatemala update with the following highlights:

◾ Atzam #5 oil well has been spudded - Latin American Resources Harold Lee 500 rig is drilling ahead towards the well's initial reservoir targets ◾ Drilling schedule for Atzam #5 is approximately 40 days on a trouble free basis, to a planned target depth of 4,100 feet ◾ Primary reservoir targets are the C17, C18 and C19 carbonates ◾ Atzam #5 well to target the same carbonate reservoir targets as the Atzam #4 production well - 2.3m barrels of 2P reserves which excludes the C18 and C19 carbonate sections in Atzam #4 ◾ Increased Atzam #4 production well flow rate following opening of choke-flow rate increased to 150 bopd immediately following small increase in the choke size (12/64 to 16/64 inch), still with no water production to date ◾ Significant exploration potential on Atzam Oil Field - unexplored salt dome and anticline structures to be evaluated and tested through 2014

Tags: Range Resources Limited




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