Range Resources Plans to Acquire 10% Stake in Latin American Resources for US$2.1MM to Participate in Near-Term Appraisal and Development of Potential High Impact Exploration Opportunities - Deal Analysis from GlobalData - New Report Available
Range Resources Limited (Range) intends to acquire a 10% stake in Latin American Resources Ltd. (LAR) for a purchase consideration of AUD2MM (US$2.1MM). LAR holds an 80-100% operating interest in two oil and gas development and exploration blocks, namely Block 1-2005 and Block 6-93, in the South Peten Basin in Guatemala. Along with this transaction, Range will also acquire a 19.9% strategic interest in Citation Resources Limited (Citation), through the conversion of existing debt funding provided by Range to Citation...
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