Rango Energy Inc.
OTCBB : RAGO

Rango Energy Inc.

October 24, 2013 09:00 ET

Rango Energy Provides Update on the Drilling Operations on its Kettleman Middle Dome Project in California

DALLAS, TEXAS--(Marketwired - Oct. 24, 2013) - Rango Energy, Inc. (OTCBB:RAGO), an oil and gas development company, is pleased to announce that planning and cost estimation is underway for our second well on the Kettleman Middle Dome ("KMD") project. The second well on the structure is slated to begin in mid-December 2013.

The Kettleman Middle Dome project covers the central anticlinal 'dome' structure which is part of a large three-part northwest-southeast trending anticline which hosts a billion barrel oilfield. The two other 'domes' are the Lost Hills field in the south dome, and the Kettleman North Dome which is located just to the northwest of the KMD site.

The KMD project area is over 11,000 acres in size and is underlain by several prolific formations which include the Monterey Shale, the Temblor Sands, the Vaqueros sandstone, the McAdams sandstone and the Kreyenhagen Shale. Currently Occidental Petroleum has targeted the Kreyenhagen Shale for production in an area directly adjacent to the KMD project.
The McAdams sandstone will be the target of the second well at the KMD project area. Formational depths are well understood from highly detailed 3D seismic surveys which cover over 75% of the project. The McAdams has been a prolific producer in the adjacent Coalinga field and Kettleman North Dome, with over 300 wells producing at an average of over 2.7 MMBOE (million barrels equivalent) per well. Former McAdams wells have had some of the highest initial production (IP) rates within the continental U.S.

Harp Sangha, CEO of Rango Energy, commented, "We are pleased to be furthering the work on the Kettleman Middle Dome, which we know to have several formations all with tremendous oil and gas potential. We have had some positive engineering analysis of the first well and we are proceeding with our plans for the next well."

About Rango Energy

Rango Energy, Inc. is an exploration stage oil and natural gas company with a strategy to identify, evaluate, explore, and develop new opportunities for oil and natural gas production across North America.

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Certain information contained in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates", "intends" or "believes", or that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", or "be achieved".

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in oil and gas properties on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the oil and gas industry including, without limitation, risk of liability under environmental protection legislation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

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