Range Resources is now officially dual listed, completing its secondary listing on AIM this morning (AIM: RRL) adding to its listing on the Australian Stock Exchange (ASX: RRS).
Range said that its secondary listing in London will "enhance its profile" and provide the "required support" that may be needed on its oil, gas and minerals exploration licences covering Puntland, a highly prospective autonomous region on the north-eastern tip of Somalia. Range Resources has farmed out certain oil and gas prospects in Puntland to TSX-V listed Africa Oil, who are committed spending US$50 million, including the drilling of four wells. The first well is expected to be drilled in the first quarter of 2008.
Range Resources started trading at 29 pence per share.