Range Resources (ASX:RRS, LON:RRL) said it is committed to...

Range Resources (ASX:RRS, LON:RRL) said it is committed to getting its shares back to the trading floor once it wraps up a financing deal with Chinese investor Core Capital.

Trading in Range shares has been suspended on the AIM and ASX exchanges since 11 December, following the departure of the prior management team and the arrangement of alternative financing.

The Trinidad-focused oil firm told investors on Tuesday that it had agreed with Core Capital to extend the completion date of the US$60mln package to 14 May.

Today, in a quarterly update on its activities, Range confirmed that once the proceeds from the Core Capital funding have been received, it will seek approval from ASX and AIM to resume trading of the company's shares."

During the quarter, Range completed the sale of its assets in Texas to Citation Resources, receiving AU$500,000 in cash and 200mln new Citation shares in the process.

In Trinidad, three new development wells were drilled in the South Quarry field, with one well brought into production and completion operations ongoing on two other wells.

It also brought three new development wells in the Morne Diablo field into production.

Overall - from January to March - Range produced 557bopd in Trinidad, a 6% rise on the previous quarter.

Meanwhile, waterflood preparations are progressing, with the first target to be treated now identified at Beach Marcelle.

Management believes the production target of 1,000 bopd will now be achieved during the fourth quarter of 2015.