Project Profile
Oil in place: 115 million barrels
Location: Mukhiani, Blocks VIa and Vlb
Mukhiani 1 is targeting a prospect with a mean estimate of undiscovered oil in place of 115 million barrels (with 46 million barrels attributable to Range’s 40% interest).
In July 2009 Range entered into a Heads of Agreement with Strait Oil and Gas Limited to acquire a 50% interest in two oil and gas blocks in the Republic of Georgia, Eastern Europe.
The two blocks subject to this agreement, Blocks VIa and Vlb cover a contiguous area of 7,000 sq km (approx 10% of the surface area of the Country) and were subject to significant exploration in the Soviet era.
In January 2011 Range Resources and Strait Oil and Gas finalised a new Heads of Agreement for Red Emperor Resources to acquire a 20% interest in two oil & gas blocks in the central portion of the Republic of Georgia.
Operators:
Strait Oil and Gas: 40%
Range Resources Ltd.: 40%
Red Emperor Resources Ltd.: 20%
Contractors:
NTD Energy: seismic and geological data, as well as promoting and developing the unconventional shale