LONDON (Thomson Financial) - Shares in Range Resources Ltd dropped 13 pct early on, as it said its shares have been suspended on the Australian Securities Exchange pending the release of an announcement relating to clarification from Puntland on its relationship with the Transitional Federal Government of Somalia.
Range Resources dropped 2 pence to 12-1/2 pence after the announcement, which follows recent approval by the Puntland parliament of new Puntland mineral and petroleum exploration and development legislation under which Range Resources' Puntland exploration rights would be broadly protected. hannah.benjamin@thomson.com hmb/sal COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Range Resources dropped 2 pence to 12-1/2 pence after the announcement, which follows recent approval by the Puntland parliament of new Puntland mineral and petroleum exploration and development legislation under which Range Resources' Puntland exploration rights would be broadly protected. hannah.benjamin@thomson.com hmb/sal COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.