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Range Resources shares surge on Guatemala update

Wednesday, February 20, 2013

Shares in Range Resources surged 20 percent as it announced that an independent report estimated probable reserves of 2.3 million barrels of oil in the Atzam 4 well in Guatemala.

Range's update followed its recent acquisition of a 19.9 percent interest in Citation Resources, and 10 percent at the project level.

An electrical submersible pump should be on location at Atzam and operational in approximately three weeks.

Source: Interactive Investor