Range Resources settles all outstanding claims in Colombia

(Sharecast News) - Trinidad and Indonesia-focussed oil and gas company Range Resources announced on Thursday that the court in Colombia had approved the decision to settle all outstanding historic claims and disputes between Agencia Nacional de Hidrocarburos (ANH) and the consortium of Range and Optima Oil Corporation.The AIM-traded firm said that, as it had previously announced, the key terms of the settlement arrangement were that ANH confirmed that Range and the consortium had no liability for any payments or debts, with all proposed penalties being lifted.It said the consortium also agreed to waive all potential claims against ANH, and agreed to the termination of the exploration licences."Range acknowledges the constructive approach taken by all parties and is delighted with the outcome which brings an end to this legacy matter," the board said in its statement.