rns- georgia spud

ASX first with the news??

MONDAY-10am...SYDNEY-TIME!....HOPEFULLY?

fingers-Xed

Then ALL OUT for the updated/frac results/RUSSEL-BEVLY

http://www.proactiveinvestors.co.uk/companies/news/28721/Fraccing%20boosts%20flow%20rates%20at%20Range%20Resources'%20Russell-Bevly%20#1 well; shares rise

{Range Resources said that initial rates from this ONE ZONE have SURPASSED what other operators are getting FROM SEVERAL WELLS COMBINED!}

Range Resources? (ASX:RRS, LON:RRL) reported today that oil and gas flow rates from the Russell-Bevly #1 well in Texas have increased dramatically after a successful stimulation programme.

Investors cheered the news as shares in Range Resources rallied 10 percent to trade at 16 pence this morning.

Work has now been completed on the uppermost zone of Russell-Bevly, where indications are that the frac was a ?complete success?. Stabilised flow rates are approximately 3.5 million cubic feet per day (mmcfd) and 350 barrels of oil per day (bopd) from the one zone alone.

This should add substantially to the overall rate and recovery with Range expecting it to significantly exceed the budgeted 4 mmcfd and 350 bopd for all the producing zones in the well.

"We couldn't be more pleased with the results of the recent frac work on the Russell-Bevly #1. Initial rates from this one zone alone have surpassed what other operators are getting from several wells combined," said executive director of Range Resources Peter Landau.

The company also said that frac equipment and crews are awaited at the East Clarksville field to begin work on the recently drilled Ross 3H horizontal well. Frac work is expected to begin within the next two weeks.

In Trinidad, Range is currently finalizing a work programme, which it hopes will rapidly increase production from the existing reserve base as it moves towards its targeted rate of 4,000 bopd from existing P1 and P2 reserves. The current production rate is 650-700 bopd.

The programme, which is expected to start within the next 30-45 days, will also target the deeper Herrera formation and untested areas not currently included in the reserve base.

Range's technical team will also reprocess the existing 3D seismic to upgrade the current 10 plus Herrera targets.