Issue of Equity

Range Resources Ltd ABN 88 002 522 009 34 Parliament Place West Perth WA 6005 PO Box 684 West Perth WA 6872 P: +61 8 9488 5200 F: +61 8 9321 6699 admin@rangeresources.com.au 19 November 2007 Completion of Placement & Dispatch of Disclosure Documents Range Resources Ltd. (AIM Code: 'RRL' ASX Code: 'RRS') ("Range" or "the Company") is pleased to announce that it has completed the placement of 18,180,000 new ordinary shares ("New Ordinary Shares") at an issue price of 22 pence each ("Placing Price") through London-based broker Fox-Davies Capital Limited, with the second and final tranche of 5,636,455 shares being allotted. Funds raised will be used to fund ongoing exploration costs in Puntland and working capital. An appendix 3B is attached in respect of the placement. The Company would also like to confirm that the disclosure documents in respect of the Options Rights Issue and Option placement offer have been dispatched. MICHAEL POVEY Managing Director For enquiries, please contact: Range Resources Ltd. RFC Corporate Finance Fox-Davies Capital (Nominated Adviser) (Broker) Pete Landau Stuart Laing Daniel Fox-Davies + 61 8 9488 5200 +61 8 9480 2500 +44 (0)207 936 5200 www.rangeresources.com.au Rule 2.7, 3.10.3, 3.10.4, 3.10.5 Appendix 3B New issue announcement, application for quotation of additional securities and agreement Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public. Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9 /2001, 11/3/2002, 1/1/2003. Name of entity RANGE RESOURCES LIMITED ABN 88 002 522 009 We (the entity) give ASX the following information. Part 1 – All issues You must complete the relevant sections (attach sheets if there is not enough space). 1 +Class of +securities issued or to Ordinary Full Paid Shares be issued 2 Number of 5,636,455 Ordinary Fully Paid shares +securities issued or to be issued (if known) or maximum number which may be issued 3 Principal Ordinary Fully Paid terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for Conversion) 4 Do the Yes +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or 22 pence (Approximately AUD $0.49101) consideration 6 Purpose of the Funds will be applied to the Puntland project and working issue capital. (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of 19 November 2007 entering +securities into uncertificated holdings or despatch of certificates Number +Class 8 Number and 195,440,024 Ordinary fully paid shares +class of all +securities quoted on ASX (including the securities in clause 2 if applicable) Number +Class 9 Number and 5,000,000 Partly Paid Shares (up to 30 cents each, 30 cents +class of all left to pay) +securities not quoted on ASX (including the securities 69,185,660* Options ($1.00, 1 October 2008) in clause 2 if applicable) 75,253,032* Options ($1.00, 1 October 2010) 2,952,029 Broker Options ($0.50, 30 June 2012) 10 Dividend Not applicable policy (in the case of a trust, distribution policy) on the increased capital (interests) * These numbers represent the full amount on issue upon complete take-up of the 1 November 2007 non-renounceable entitlement Issue to shareholders and options placement to optionholders. Part 2 – Bonus issue or pro rata issue NA 11 Is security holder approval required? NA 12 Is the issue renounceable or non-renounceable? NA 13 Ratio in which the +securities will be offered NA 14 +Class of +securities to which the offer relates NA 15 +Record date to determine entitlements NA 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? NA 17 Policy for deciding entitlements in relation to fractions NA 18 Names of countries in which the entity has +security holders NA who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. NA Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations NA 20 Names of any underwriters NA 21 Amount of any underwriting fee or commission NA 22 Names of any brokers to the issue NA 23 Fee or commission payable to the broker to the issue NA 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders NA 25 If the issue is contingent on +security holders' approval, the date of the meeting NA 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled NA 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders NA 28 Date rights trading will begin (if applicable) NA 29 Date rights trading will end (if applicable) NA 30 How do +security holders sell their entitlements in full through a broker? NA 31 How do +security holders sell part of their entitlements through a broker and accept for the balance? NA 32 How do +security holders dispose of their entitlements (except by sale through a broker)? NA 33 +Despatch date NA Part 3 – Quotation of securities You need only complete this section if you are applying for quotation of securities 34 Type of securities (tick one) (a) Securities described in Part 1 (b) All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities Entities that have ticked box 34(a) Additional securities forming a new class of securities Tick to indicate you are providing the information or documents 35 If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders 36 If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional +securities Entities that have ticked box 34(b) 38 Number of securities for which +quotation is sought 39 Class of +securities for which quotation is sought 40 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number +Class 42 Number and +class of all +securities quoted on ASX (including the securities in clause 38) Quotation agreement 1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides. 2 We warrant the following to ASX. · The issue of the +securities to be quoted complies with the law and is not for an illegal purpose. · There is no reason why those +securities should not be granted +quotation. · An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act. Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty · Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted. · We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the +securities to be quoted, it has been provided at the time that we request that the +securities be quoted. · If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted. 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement. 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete. Sign here: Date: 19 November 2007 Print name: PETER LANDAU, EXECUTIVE DIRECTOR == == == == ==

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