We recently conducted an open Q&A session with Range Resources (AIM:RRL, ASX:RRS) where readers were invited to put their questions to the Company. (click here to view). The session generated a high level of interest and helped provide investors with some useful information regarding the company’s activities.

With so much expected to be happening at Range Resources, investors are no doubt keen to seek a more in-depth understanding on the progress being made. In this respect, there have recently been a number of material developments.

The Texan discovery is now generating sales through the company’s 25% stake in the project, thus the progression to oil and gas producer status continues. The successfully completed rights issue, combined with existing funds will enable the company to progress its Georgian oil and gas projects and its flagship Puntland interests, which is targeting multi billion barrel targets in Puntland, Northern Somalia.

Lots to talk about, and to assist investor discussions, we felt it would be a good time to fire across a few quick questions to Pete Landau, Executive Director of Range Resources. It appears we timed our enquiries well, coinciding as they do with yesterdays update.

So here are the questions Mining Maven sent to Range Resources, together with their answers. Thanks to Pete Landau for participating once again!

Note: You will come across some technical terminology in this and other related articles. If you would like to research technical terms further, a good starting point is http://oilgasglossary.com/

Texas:

MM: With regard to the existing Smith1 well can you explain why you are proposing to fracture stimulate and comingle the two zones and what this process entails? Will fracturing and comingling help improve the flow rates? Do you have any ultimate flow rate targets, in this regard, from Smith1 well?

PL: Yes - ultimate target is between 9-11mmcf per day and 650 - 950 bbls per day - fracing and opening up zones are pretty standard procedures.

MM: You are planning to drill additional wells within the licence area. How likely is it that additional wells be situated in areas with gas and oil?

PL: The second well will be an appraisal well located approximately 700m from the Smith #1. The well is expected to add reserves and production while helping to delineate the overall size of the reservoir.

Georgia:

MM: Could you briefly explain how drill targets are identified from the seismic data? Is this a desktop exercise or is this combined with on-site work in the field?

PL: A combination of everything we have data wise to date - historical work (wells, geochem etc) and now the processed and interpreted seismic (when available Q2) - no more "on-site" work is required.

MM: How attractive is Georgia as a location for investment and, if this was an option you chose, how would you go about identifying suitable farm-in partners? Would this be primarily through existing connections or would you consider other means such as opening a data-room for third parties to consider?

PL: Already at least 5 other oil and gas companies operating in Georgia (producing). If the oil potential is demonstrated through the seismic process - farm in partners will be available mostly on the basis on how good the oil potential is (as opposed to Georgia as an attractive investment location). PSA terms are very reasonable and the country holds multi billion dollar pipeline infrastructure already.

Puntland:

MM: We note that the first Puntland well is due to be drilled in Summer 2010. We understand there are various preparatory stages leading up to spudding a well. Could you briefly summarise the key stages? Will you be able to provide updates to market during the preparatory process and also after spudding, on a similar basis to that provided by the company for Smith1 drilling?

PL: Stages will include:

• confirmation of drilling contractor and tying up of associated logistical support;
• rig mobilisation;
• delivery of equipment into Puntland;
• site / camp establishment;
• spudding of well etc .

We will try and provide as comprehensive updates as possible, but with Africa Oil as operator we will have to take our lead from them.

MM: Could you briefly explain the process you are following to secure partners for the Puntland offshore programme?

PL: First and foremost get agreement from the government on offshore psa terms and conditions. Once in place can then move to a list of potential partners (many already briefed and have expressed interest) with terms sheet and programme regarding stage 1 seismic program on targeted areas

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