Range Resources seeking legal advice over revoked Colombian licences (Scandinavian Oil-Gas Magazine)

Range Resources seeking legal advice over revoked Colombian licences

Published Jan 20, 2016

Range Resources has received a notice from Agencia Nacional de Hidrocarburos ('ANH'), National Hydrocarbons Agency of Colombia, which states that the licences over the three exploration blocks, PUT-5, VMM-7, and VSM-1 have been revoked.

The licences were awarded to a consortium of Optima Oil Corporation ('Optima') and the Company in December 2012.

ANH alleges that this is a result of the exploration work commitments not being fulfilled and presentation of invalid letters of credit by Optima.

Tags: Range Resources Limited

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