upstream update

Data to Range

August 18, 2006

Australian explorer Range Resources this week located a key data tranche for its prospective acreage in northern Somalia's autonomous province of Puntland.

It also plans to sign a farm-in deal with a major European player "and perhaps one other" before the end of this month. A provisional accord with the Korean National Oil Corporation will also likely be finalised.

"To be honest, this acreage is so well-known to the industry and so prospective that this important data represents icing on the cake and is unlikely to make any difference to the final deal," said Range director Peter Landau.

©2006, Upstream.