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  • Range Resources Wins Bid For St. Mary Onshore Oil And Gas Block In Trinidad 0 comments
    Feb 4, 2014 1:23 AM

    Range Resources (ASX: RRS) has successfully bid for the St. Mary's oil and gas block in Trinidad under the country's Onshore Bid Round 2013.

    St. Mary's covers 44,731 acres spread over 4 sub-blocks contiguous to the company's existing Morne Diablo and Guayaguayare licences.

    The main reservoir targets identified in are the Pliocene Deltaic sands, Miocene Herrera sands, Cretaceous sands and the source rock itself.

    "I am very pleased to be able to announce the award of this significant new acreage today, further consolidating our position and deepening our commitment to safely exploring and developing onshore oil in Trinidad," chief executive officer Rory Russell said.

    The company will make a further announcement on the future plans for the St Mary's licence.

    Range had yesterday noted that drilling had started in Trinidad aimed at increasing production and reserves.

    It is also preparing to begin field development with surface equipment and facility installation work at Morne Diablo after receiving final approval for the waterflood program.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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