Rango Energy Inc. has signed a Letter of Intent with Proco Operating Co. Inc., based in Graford, Texas for a 75% working Interest on approximately 6,000 acres located in the Ft. Worth Basin in North Central Texas.

Phase One Drilling of vertical and horizontal wells on leases totaling 1,280 acres to develop prospective Marble Falls and Barnett Shale formations is slated to commence within 45 days. The Marble Falls Limestone formation, the project's primary objective, is a 350 to 450 ft. thick early Pennsylvanian carbonate reservoir overlying the Barnett Shale.