Key Developments: Range Resources Ltd (RRS.AX)

RRS.AX on Australia Stock Exchange

26 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Range Resources Ltd announces issue of shares
Tuesday, 18 Nov 2014 02:01am EST 

Range Resources Ltd:Says that 58,440,891 ordinary shares have been issued, details of the issue are below: 58,440,891 ordinary fully paid shares issued at $0.011 as per financing agreement with Lind asset management announced Oct. 16.  Full Article

Range Resources Ltd signs conditional MOU for $50 million funding
Sunday, 2 Nov 2014 03:00pm EST 

Range Resources Ltd:Announces signing of a binding Memorandum of Understanding with Core Capital Management Co., Ltd, a Chinese-based institutional investor.Under the terms of the agreement, investor will provide about $20 million in cash to subscribe for Ordinary Fully Paid Shares of the company at a price of 0.01 pounds per share, representing a premium of about 26 pct. to the mid-market share price at the close of business on AIM on Oct. 31, 2014.Says in addition, the Investor will provide convertible bonds with a total value of about $30 million, which convert at a price of 0.01 pounds per share, to achieve the full $50 million commitment.Says upon completion of the initial $20 million equity investment, it is expected that the Investor will hold about 19.99 pct. of the enlarged share capital of the company.  Full Article

Range Resources Ltd announces change in Chairman
Monday, 20 Oct 2014 02:00am EDT 

Range Resources Ltd:Says Sir Sam Jonah, Non-Executive Chairman, has decided to step down from Board of Company effective from conclusion of Company's next AGM.Says Graham Lyon, who joined Board in Feb. 2014 as Non-Executive Director, will assume role of Non-Executive Chairman of Board with effect from conclusion of AGM.  Full Article

Range Resources Limited announces completion of $15 million loan financing
Thursday, 16 Oct 2014 08:00pm EDT 

Range Resources Limited:Says that the loan financing agreement of up to $15 million, signed on Sept. 30, 2014 with Lind Asset Management, LLC has completed.Says as previously announced, Range will use the proceeds primarily to invest in the Company‚Äôs rig fleet and to accelerate development drilling of the Trinidad portfolio.  Full Article

Range Resources Limited does not declare dividend
Tuesday, 30 Sep 2014 04:20am EDT 

Range Resources Limited:Says no dividends were paid or recommended during the financial year ended June 30.  Full Article

Range Resources Ltd secures up to $15 million loan financing
Monday, 29 Sep 2014 07:36pm EDT 

Range Resources Ltd:Signs loan agreement for up to $15 million in medium-term financing with Lind Asset Management, LLC, a New York- based institutional investor managed by Lind Partners, LLC (together, Lind).Proceeds will primarily be used to invest in the company's rig fleet, accelerate development drilling of Trinidad portfolio and for general working capital purposes of the company.  Full Article

Range Resources Limited provides portfolio update
Monday, 29 Sep 2014 05:23am EDT 

Range Resources Limited:Says in line with the previously stated strategy of portfolio rationalisation and the company's focus on Trinidad, Range has made a strategic decision to refocus Colombia portfolio to fully-carried positions on three exploration assets.Say it will not be proceeding with a farm-in option for the PUT-6 block in the Putumayo basin, given the high cost work commitments associated with the block.This strategic exit follows a previously announced withdrawal from PUT-7 block.Instead, the Company will focus on its fully-carried 10 pct interest in three exploration blocks, PUT-5, VMM-7, and VSM-1, following the finalisation of a Joint Operating Agreement (JOA) with the blocks' operator, Optima Oil Corp and Petro-Caribbean Resources Ltd.Optima will bear and pay 100 pct of all costs and expenses incurred up to production under the JOA.  Full Article

Range Resources Limited announces issue of shares
Wednesday, 10 Sep 2014 06:30pm EDT 

Range Resources Limited:Announces issue of 25,924,135 ordinary fully paid shares.Says 7,500,000 ordinary fully paid shares issued for technical consulting fees as per agreement 7,500,000 unlisted options (0.03 pounds, Sept. 9, 2017) issued as required by an historic financing arrangement, originally entered into on Nov. 15, 2012.Says 1,000,000 Unlisted Options ($0.05, Jan. 31, 2018) issued for financial consulting fees as per agreement.  Full Article

Range Resources Ltd enters into integrated master services agreement with LandOcean Energy Services Co Ltd
Sunday, 1 Jun 2014 06:34pm EDT 

Range Resources Ltd:Enters into an integrated master services agreement with LandOcean Energy Services Co Ltd.Agreement provides range with an extremely capable and technically sophisticated preferred services provider.In addition, Range and LandOcean have agreed a financing package of up to $50 mln.According to the integrated master services agreement, LandOcean will act as the preferred services contractor for range for oilfield services including geoscience, engineering, procurement and construction.Under the IMSA, Range and LandOcean have entered into the first purchase order to draw down $5 mln of services from LandOcean.These services include a wide ranging geological and engineering study of secondary recovery projects (including waterflooding) in the Beach Marcelle, Morne Diablo and South Quarry fields in Trinidad.  Full Article

Range Resources Ltd updates on $12 mln financing
Wednesday, 28 May 2014 06:31pm EDT 

Range Resources Ltd:Confirms that, further to the previously announced $12 mln financing with Abraham Ltd, the full subscription proceeds of $12 mln have been received by the company.As per the terms of the subscription agreement, the investor will now be issued with ordinary fully paid shares of the company in two equal tranches.Investor will subscribe for 356,188,780 shares which will be issued on or around May 28 and admission to trading on AIM is expected on or around June 06.Funds will be used to repay existing debt and for general working capital of the Company. Further details on debt repayment will be provided in due course.  Full Article

Pennsylvania fines shale gas driller Range Resources $4.15 million

- Oil and gas producer Range Resources has been fined more than $4 million for environmental violations in Pennsylvania, state environmental authorities said on Thursday, the largest fine leveled against a shale gas operator in the state.

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