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Range Resources provides Guatemala update


Published Jan 29, 2014
Range Resources - Guatemala

Range Resources Limited provides update with respect to the Company's interest in Guatemala with the following highlights:

◾ Atzam #5 oil well was spudded on 15 January and is drilling on schedule, currently at 431 ft ◾ Initial drilling program progressing as planned through shallow, hard limestone section ◾ Drilling schedule is approximately 40 days on a trouble free basis, to a planned TD of 4,100 ft ◾ Primary reservoir targets are the C17, C18 and C19 carbonates - expected to be drilled through from circa 2,700 ft ◾ Atzam #5 well targeting the same carbonate reservoir targets as the Atzam #4 production well - 2.3m barrels of 2P reserves excluding the Atzam #4 primary C18 and C19 carbonate sections ◾ Atzam #4 production continues at ~150 bopd from C17 carbonate section - following increased choke (16/64ths) production rate and well head pressure constant after 2 weeks, no water production ◾ 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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