Drilling Update – Smith #1 Well, Texas

ASX Announcement
12 November 2009

                    DRILLING UPDATE - SMITH #1 WELL, TEXAS                     

Update by Australian based oil and gas explorer Range Resources Limited (ASX:
RRS; AIM: RRL) ("Range" or "the Company") on its exploration drilling program
in the North Chapman Ranch area, Texas.

Smith #1 well, North Chapman Ranch

The Smith #1 exploration well spudded on 4 September 2009. Surface casing was
set and cemented at 1,528 ft (465m) and the well was subsequently drilled to
the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were
acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly
thereafter. Drilling recommenced as per the announcement 30 October 2009, and
additional open-hole evaluation was undertaken as the well approached target
depth.

The Company is pleased to report that the Smith #1 has now reached its revised
total depth of 13,975 ft. (4,260m) and additional electric logs have been run.
A production liner has been run to bottom and the well currently awaits
testing.

Well Details

Name of well              Smith #1                    
                                                  
Spud date                 4 September 2009            
                                                  
Revised total depth       ~13,975 ft (4,260m)         
                                                  
RRS working interest      25%                         


Figure 1: Unit Texas Rig #35 on Smith #1 well - please see website. 

Background on North Chapman Ranch

Range holds a 25% working interest in the drilling of the Smith #1 well. If
successful, the Smith #1 well could trigger significant oil and gas production
and development drilling with very attractive economics, at a time when
exploration and development costs in the US have dropped dramatically.

Range will continue to update the market on a weekly basis during its
exploration drilling program.

End

For further information please contact:

Range Resources
Peter Landau
Tel : [phone]
Em: [e-mail]

Australia                                      London
PPR                                            Conduit PR
David Tasker                                   Jonathan Charles
Tel: [phone]                         Tel: + 44 (0) 20 7429 6666
Em: [e-mail]                    Em: [e-mail]

RFC Corporate Finance (Nominated Advisor)      Fox-Davies Capital (Broker)
Stuart Laing                                   Daniel Fox-Davies
Tel: [phone]                         Tel: [phone]