New Drilling Rig Arrives in Trinidad

New Drilling Rig Arrives in Trinidad

Range is pleased to advise that the vessel carrying the first new 4,000 m rig has arrived at the port in Trinidad. This is the largest rig to be added to Range Resources Drilling Services Limited ("RRDSL") drilling fleet this year.

The other three new rigs (with drilling capabilities of 2,000 m, 1,500 m, and 1,000 m) are on route to Trinidad. The vessel carrying the rigs is currently passing the coast off the US and will make a stop in Guatemala before arrival at the port in Trinidad. The rigs are now expected to arrive by the end of September.

The 4000 m rig is expected to be available for drilling from October 2015, and the other three new rigs from November 2015, subject to a number of conditions, including customs clearance, various government and regulatory approvals and availability of suitable drilling staff to operate the rigs.

Following shareholders' queries, the Company wishes to clarify that the Guayaguayare deep commitment well which was not included in the work programme schedule released on 24 August 2015 is expected to be drilled next year. The details including proposed spud date for this well are still being finalised and will be released in due course.