A fracking good idea?North Chapman Ranch BackgroundThe North...

A fracking good idea?

North Chapman Ranch Background
The North Chapman Ranch project area encompasses approximately 1,680 acres in one of the most prolific oil and gas producing trends in the state of Texas.

The North Chapman Ranch is situated within the prolific Frio producing trend just north of the Chapman Ranch in the Mobil David and Doughty Fields. The Mobil David field was discovered in 1965 when Mobil drilled the Chapman #1B well and completed the well in the Laureles Sand (now the Howell Hight). To date, an estimated 250 billion cubic feet of natural gas and more than 10 million barrels of oil have been produced from this field, primarily from the Anderson sandstone. Recently, several operators in the area have been successfully developing the deeper Howell Hight formation with some wells exhibiting flow rates in the 6-9 million cubic feet per day range.

Statement, issued by 'US, House of Representatives' First Committee on Energy and Commerce
(this link is very relevant to this discussion, but for reasons I do not understand, I cannot 'copy/paste'...but it will open up if highlighted and dragged to your browser!)

http://www.scribd.com/doc/53259585/Hydraulic-Fracturing-Report-4-18-11
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Putting to one side all the other operations and jv's...The North Chapman Ranch ops seem to be less read or studied, yet imho here we have the POTENTIAL of a huge GAS DISCOVERY that could set the trend for the sp to break out to levels never yet anticipated for GAS!
GAS, just might be the 'icing on the cake, significantly before any 'BIG OIL'finds are proven....
....I never invested in Range for their GAS potential, mainly for the HUGE prospects in Georgia (which still stands, and Georgia is always on my mind)....but now I believe, as 2011 moves towards Q3- Q4, I believe we are all going to be nicely rewarded with news that will make RRL truly transformational.
The Hydraulic 'fracking' used by Range is truly amazing, and finds and releases gas in far greater volumes than was previously thought to be trapped in 'pockets', and it escapes through fissures and cracks in the shale naturally forcing its way out under pressure. This will be big business for RRS, with the gas demands for the US virtually guaranteed for the next 110 years!
My investment strategy in Range, has changed considerably...I am beginning to like this stock more for the added potential that GAS will bring...?