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 21 December 2007 Offer Completed The Company wishes to advise that the shortfall offer pertaining to the Placement Issue as detailed in the Prospectus dated 1 November has now closed. Please find attached an Appendix 3B to reflect the closing of the offers. 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 Options ($1.00, 1 October 2008) or to be issued Listed Options ($1.00, 1 October 2010) 2 Number of +securities issued 63,723,930 Unlisted Options ($1.00, 1 or to be issued (if known) or October 2008) - Pursuant to the Option maximum number which may be Placement Offer issued 15,271,144 Options ($1.00, 1 October 2010) - Pursuant to the Option Rights Offer 3 Principal terms of the Unlisted Options ($1.00, 1 October +securities (eg, if options, 2008) exercise price and expiry date; if partly paid Listed Options ($1.00, 1 October 2010) +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) 4 Do the +securities rank No -Listed Options ($1.00, 1 October equally in all respects from 2010) the date of allotment with an existing +class of quoted No - New class of Options ($1.00, 1 +securities? October 2008) 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 consideration 63,723,930 Unlisted Options ($1.00, 1 October 2008) $0.01 placement to holders of Options ($1.00, 1 October 2007) - total amount raised $635,534 15,271,144 Options ($1.00, 1 October 2010) $0.01 rights issue 1 Option for every 8 shares held - total amount raised $152,677 6 Purpose of the issue Working Capital/Puntland Project (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of entering +securities 5 December 2007 into uncertificated holdings or despatch of certificates Number +Class 8 Number and +class of all 195,440,024 Ordinary fully paid shares +securities quoted on ASX (including the securities in 66,094,173 Options ($1.00, 1 October 2010) clause 2 if applicable) Number +Class 9 Number and +class of all 63,723,930 Options ($1.00, 1 October 2008) +securities not quoted on ASX (including the securities in 5,000,000 Partly Paid Shares (paid up to 30 cents) clause 2 if applicable) 2,952,029 Broker Options ($0.50, 30 June 2012) 10 Dividend policy (in the case Not applicable of a trust, distribution policy) on the increased capital (interests) Part 2 - Bonus issue or pro rata issue 11 Is security holder approval No required? 12 Is the issue renounceable or Non-renounceable non-renounceable? 13 Ratio in which the +securities will 1 rights option for every 8 be offered ordinary Fully Paid Shares held. 14 +Class of +securities to which the Options ($1.00, 1 October 2010) offer relates 15 +Record date to determine 13 November 2007 entitlements 16 Will holdings on different registers N/A (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in Rounding up relation to fractions 18 Names of countries in which the entity has +security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of 29 November 2007 acceptances or renunciations 20 Names of any underwriters N/A 21 Amount of any underwriting fee or N/A commission 22 Names of any brokers to the issue N/A 23 Fee or commission payable to the N/A broker to the issue 24 Amount of any handling fee payable N/A to brokers who lodge acceptances or renunciations on behalf of +security holders 25 If the issue is contingent on 9 November 2007 +security holders' approval, the date of the meeting 26 Date entitlement and acceptance form 15 November 2007 and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, N/A and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if N/A applicable) 29 Date rights trading will end (if N/A applicable) 30 How do +security holders sell their N/A entitlements in full through a broker? 31 How do +security holders sell part N/A of their entitlements through a broker and accept for the balance? 32 How do +security holders dispose of N/A their entitlements (except by sale through a broker)? 33 +Despatch date 5 December 2007 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 50,823,029 +quotation is sought 39 Class of +securities for which Options ($1.00, 1 October 2010) quotation is sought 40 Do the +securities rank equally in Yes RRSOA Options ($1.00, 1 October 2010) 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 To consolidate options with same expiry period 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 195,440,024 Ordinary Fully Paid Shares quoted on ASX (including the 66,094,173 RRSOA Options securities in clause 38) 1. 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. Date: 20 December 2007 Print name: PETER LANDAU, COMPANY SECRETARY/ EXECUTIVE DIRECTOR == == == == == www.rangeresources.com.au Range's nominated adviser is RFC Corporate Finance Ltd, contact: Stuart Laing, ph: +618 9480 2500 .

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