VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/01/15 -- Range Energy Resources Inc. (the "Company") (CSE: RGO)(FRANKFURT: YGK) is pleased to announce that the Company has reached a temporary initial three month suspension agreement with Gas Plus Khalakan Limited ("GPK") and New Age Alzarooni 2 Limited ("NAAZ2") regarding the on-going litigation over the Company's right to receive and disclose certain material information on petroleum operations at the Khalakan Block in Kurdistan Region of Iraq.
Under the agreement, the parties will temporarily suspend litigation in the Jersey Islands regarding an injunction that prevents the release of information to the Company. GPK obtained this injunction in January 2015. During the agreed suspension period, GPK will periodically release to the public certain information regarding petroleum operations at the Khalakan Block.
Toufic Chahine, Chairman of Range provided the following comment:
"We are delighted to have reached a temporary agreement regarding our on-going litigation and we look forward to working with NAAZ2 to provide this information to Range's shareholders in the near future and are hopeful for a longer term settlement with all of the parties."
For further information on Range Energy Resources Inc., please visit the Company's web site at www.rangeenergyresources.com.
On Behalf of the Board of Directors:
Toufic Chahine
Chairman
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This news release contains certain statements that may be deemed to include "forward-looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Range Energy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Range Energy's management on the date the statements are made. Except as required by law, Range Energy Resources Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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Contacts:
Range Energy Resources Inc.
Toufic Chahine
Chairman
Tel: 604-688-9600
Fax: 604-687-3141
Email: range@rangeenergyresources.com
