Range Resources plunges despite receiving payment deadline extension

Shares in Range Resources plunged over 8% early on Wednesday, after the oil and gas explorer said the deadline related to its payment to Lind Asset Management had been extended.

The London-listed company has made a $5m payment to Lind, which has made a $7.22m statutory demand after providing a $15m loan facility to Range.

Australia-based Range said the deadline for the payment has been extended until seven days after the hearing of its appeal, which is due in an Australian court on 10 September.

Range shares were down 8.65% to 0.507 at 1044 BST on Wednesday.