Range Resources
Range Resources Limited is both an ASX and AIM exploration Company, with its principal activity directed towards finding and delineating natural resources in the oil, gas and mineral sectors in Puntland, Somalia. Puntland is believed to have all the geological requirements to become a commercial oil-producing region. Somalia, and in particular Puntland, remains one of the last under-explored countries that has a high potential for considerable reserves of hydrocarbons which can be subsequently developed for the benefit of both the people of Puntland and Range Shareholders The Company believes that through the generation of work and government royalties from hydrocarbon and mineral exploration and development numerous social and economic benefits will result.
Range Resources shuffles board of directors
Range announced that Liban Bogor, a Managing Director of the company, had resigned from his post to work exclusively for the Puntland Government on "various initiatives". Range said that it considered the move as a positive step for the joint venture, as Mr. Bogor would be working to take into account "all stakeholders" interests in Puntland.
Executive Director, Michael Povel, will also move to a non-executive director role, and will be responsible for releasing "significant value" from Range's Forrestania Project in Western Australia.
The company also took the opportunity to reaffirm its confidence in Africa Oil Corp's ability to complete an agreed work program, which will include drilling four wells in Puntland. Register here for more articles on Range Resources
Other Range Resources articles
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05/08/08 Range Resources oil targets are still there
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21/04/08 Interview with Range Resources
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16/01/08 Range Resources: A Punt on Puntland
Other Range Resources news
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16/07/08 Range Resources seismic programme starts
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30/05/08 Firebird Global Master Fund increases stake in Range Resources
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27/05/08 Range Resources confirms arrival of seismic equipment
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29/04/08 Drilling delay hits Range Resources hard
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09/04/08 Range Resources challenges defamatory article
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03/04/08 Range Resources says Opes Prime holds less than1%
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26/03/08 Range Resources rebounds on Puntland update
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28/02/08 Range Resources expects first well to spud by summer
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28/02/08 Range Resources expects first well to spud by summer
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01/02/08 Range Resources on track for first well in March