Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/range-resources-provides-colombia-update.shtmlRange Resources provides Colombia update
Range announces that, given its focus on Trinidad, it has made a strategic decision for a partial withdrawal
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Range announces that, given its focus on Trinidad, it has made a strategic decision for a partial withdrawal from Colombia and has relinquished its investment obligations on PUT-7 block in the Putumayo Basin in Colombia. Therefore, Range will not be pursuing the option to earn into this block.
Range's exit from PUT-7 block doesn't affect its position with regards to the farm-in arrangements in relation to PUT-6 block or to the $3.48 million performance bond that it holds over PUT-6. The Company is currently reviewing its options with regards to PUT-6 and will update the market accordingly in due course.
