RRS 0.00% 0.1¢ range resources limited

east cotton valley

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    REPORTS OF THE FRAC RESULTS SHOULD BE OUT SOON, AND I WAS WONDERING COULD ECV RNS BE INCLUDED IN THE LONG AWAITED G-SPUDDING?


    Fracking must be close to completion by now, with expectations of significant flow rates. If positive results are out in conjunction with the G-spudding, which is what I am expecting, then a nice boost to our share price...methinks?

    EAST COTTON VALLEY
    Building on its success at North Chapman Ranch, the Company acquired an initial 13.56% interest in approximately 1,570 gross acres encompassing a recent oil discovery located in Red River County, Texas, which was subsequently moved to 21.75% in January 2011.

    Development of the shallow oil reservoir in the Cotton Valley formation is expected to begin in early 2011 with the drilling of a horizontal appraisal well in the field, where gross recoverable reserves could be of between 4 to 6 million barrels of oil.

    http://www.rangeresources.com.au/operations/texas-usa/east-cotton-valley/

    http://sharepedia.co.uk/index.php?title=Range_Resources_Ltd

    Building on its success at North Chapman Ranch, the Company acquired an initial 13.56% interest in approximately 1,570 gross acres encompassing a recent oil discovery located in Red River County, Texas, which was subsequently moved to 21.75% in January 2011.
    On 27th of April 2011, Range announced it had reached total depth in its Ross 3H exploratory well, the Company's first horizontal drilling venture. Located in Red River County, Texas, the well reached a total depth of 8,900 ft (2,715m exceed target by 215m), with a horizontal section of approximately 3,400 ft (1,040m).[5]
    Range will report back to the markets on flow rates once fraccing has been completed.
    If the latest well is successful, Range has plans to participate in a 20 well development programme at a cost of $0.3m per well net to Range. The company estimates that a vertical well has the potential to produce approximately 200,000bbls of oil over its life.[6]
    The East Texas Cotton Valley oil accumulation was discovered in March of 2008 with the drilling of a vertical well to approximately 5,500 ft. The initial well encountered more than 100 ft. of gross oil pay at approximately 5,300 ft and was immediately placed into production. A horizontal appraisal well spudded in December of 2008 encountered good quality reservoir in a lateral section approximately 1,500 ft. long, but was badly damaged during completion.[7]
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    East Cotton Valley $16m - 0.5p[8]
 
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