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Source: www.gulfoilandgas.com 2/23/2012, Location: Africa
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Range Resources Limited would like to announce an update on the drilling of the Shabeel-1 exploration well in the Dharoor Valley Block in onshore Puntland. The Shabeel-1 exploration well spudded on January 17, 2012 and is currently at a depth of 1,230 meters. Casing has been set in the well to a depth of 1,139m and drilling of the 12 ¼ inch section continues as planned. Drilling of the Shabeel-1 well is expected to be completed before the end of March and testing equipment is currently being mobilized to the site. Assuming successful drilling results, it is anticipated that testing results will be available early in the second quarter of 2012. Upon completion of drilling the Shabeel-1 well, the rig will move to the Shabeel North-1 well, where 30 inch conductor pipe is in place and a 50 meter pilot hole has already been drilled.
These two wells represent the first exploration wells to be drilled in the country in over 20 years and will satisfy the first exploration period drilling commitments as required under the Production Sharing Contracts for both the Dharoor and Nugaal Blocks. In order to provide sufficient time to evaluate drilling results, the Puntland Government has granted an extension of the first exploration period expiry date 17 October 2012.
The Puntland Government and Dharoor Valley communities are fully supportive of the drilling project and have ensured the Company that they will do all necessary to allow the project to move forward safely and expeditiously.
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