Range announced that the Albrecht #1 Appraisal well on the Company's North Chapman Ranch Project in Texas is currently drilling ahead at a depth of 9,150 ft. with a target depth of 14,500 ft.
The Albrecht # 1 appraisal well marks another milestone in the Company's onshore Texas drilling program, as if successful, it is anticipated to prove up reserves in the South East portion of the North Chapman Ranch license area, and support a re-classification of current Possible (P3) reserves into the Probable (P2) and Proved (P1) categories.
Following on from the Albrecht #1 well, the joint venture has the option to continue with the development of the field with a possible four-well program in 2012 under discussion among the joint venture partners.
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