Range Resources Limited is pleased to announce that site construction has commenced in readiness for the spudding of the Company's second exploration well in Georgia - the Namakhvani well which is the Kursebi 6 Prospect.
Given the unexpected geological sequences encountered with the first well, Range engaged new independent technical consultants, NTD Energy, to perform a fresh review of all of the seismic and geological data across the top 3 Kursebi prospects previously identified. The Kursebi 6 prospect was identified as the most robust prospect with a more clearly defined structure and indications of a significantly thicker Jurassic section, increasing chances of encountering more reservoir and mature source rocks.
NTD Energy will assist in the management of the Company's drilling program for the Namakhvani well along with the supervision of the proposed 2D seismic program on block VIb. NTD Energy will also assist the Company in promoting and developing the unconventional (shale) plays that may exist across the two licence areas through the introduction of farm-in partners.
The Company will provide regular updates as to the progress of the drilling of the second well.
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