Range Resources to merge with Timis company


Range Resources has proposed an all-share merger with Frank Timis’ International Petroleum to create a company focused on Trinidad, Russia and onshore Africa. The merger would offer three Range ordinary shares for every two International Petroleum ordinary shares, valuing International Petroleum at some A$105m (US$108m). International Petroleum has assets in Russia, Kazakhstan, and Niger, while Range has assets in Puntland and a main focus in Trinidad and Texas.