STA.L Regulatory News (STA)

Trinidad drilling programme update

Range is pleased to advise that the QUN 158R (renamed QUN 160) development well in Trinidad successfully spudded on 9 November 2016. The well is located in the Morne Diablo field and is drilling ahead to a total depth of 2,600 feet, expected to take approximately 3 weeks to reach target depth.

The QUN 160 well is the fourth development well drilled by Range in Trinidad this year. The well is a re-drill of the previously drilled QUN 158 well, targeting the same Upper Cruse and Lower Forest sands. The well is being drilled by RRDSL* using the 1,000 metre rig, which has been granted all necessary regulatory and government approvals in November 2016.

The GY218 SE well located in the Beach Marcelle field is the last well from the five-well campaign to be drilled this year. The well will be drilled by RRDSL using the 2,000 meter rig, which is currently being prepared for regulatory and government approval. The well location has been completed and the rig is already rigged up on location. The well is expected to spud by early December 2016.

*RRDSL is a wholly owned subsidiary of LandOcean Energy Services Co., Ltd.

Competent Person statement

In accordance with AIM Rules, Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and approved by Mr Lijun Xiu. Mr Xiu is a suitably qualified person with over 30 years' experience in assessing hydrocarbon reserves, and holds a Bachelor degree in Geological Prospecting. In addition, he holds a number of professional titles, including Reserves Evaluation Specialist from the Ministry of Land and Resources of the People's Republic of China. Mr Xiu is a member of the SPE (Society of Petroleum Engineers). Mr Xiu holds a role of a Vice President of Operations and Production with the Company.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.