LONDON (Thomson Financial) - Range Resources Ltd. said it anticipates the drilling program at Dharoor valley of Puntland, Somalia will be reinstated by the end of 2008 and that drilling will commence end 2008, early 2009.
'Over 9 billion BOE have been discovered in Yemen but exploration has been limited to date in Somalia. Only 3 wells have been drilled in basinal settings in these concessions before operations ceased in the early 1990's,' the oil and gas explorer said in a statement.
For the first-half to June 30, the company said its pretax loss of parent entity widened to $14.16 million from $1.80 million, while revenues rose to $501,452 from $217,757. tf.TFN-Europe_newsdesk@thomsonreuters.com ind/ra 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.