Quarterly Activities and Cashflow Report

ABN 88 002 522 009                            
  Level 3, 1 Havelock Street                            
            West Perth, 6005                            
           Western Australia                            
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30 April 2010

               QUARTERLY REPORT FOR PERIOD ENDING 31 MARCH 2010                

The Board is pleased to provide the following commentary to be read in
conjunction with the Appendix 5B which summarised below and available at 
www.asx.com.au

Puntland

Following the conclusion of negotiations between Range Resources Limited's ("
Range" or "the Company") Joint Venture Partner, Africa Oil Corp. ("Africa Oil")
and the Government of the Puntland State of Somalia at the end of December
2009, and the resultant amended Production Sharing Agreements, Africa Oil has
worked towards finalising the identification of drillable targets along with
logistical investigations as it moves towards drilling of the first exploration
well in Puntland for over 18 years.

Subsequent to quarter end, Africa Oil announced an update (7 April 2010) on the
Joint Venture's interests onshore Puntland:

Dharoor Block: Africa Oil has completed a comprehensive interpretation of newly
acquired 2D seismic data over the Dharoor Block. Several large prospects have
been identified. Africa Oil and its joint venture partners have agreed to
initially drill one prospect in Dharoor. The well is expected to commence
drilling before the end of 2010.

Nugaal Block: Africa Oil has completed a re-interpretation of the existing 2D
seismic data over the Nugaal Block. Several large prospects have been
identified. Africa Oil and its joint venture partners are in discussion
regarding drilling plans for 2010-2011.

Following the successful completion of negotiations regarding the onshore
licences and previous technical presentations to the Government on the proposed
offshore areas of interest, Range will look to continue negotiations regarding
the formalisation of a new PSA with respect to the exploration and development
of off shore Puntland during 2010.

Georgia

During the quarter, the seismic acquisition program across the License Blocks
VIa and VIb in the Republic of Georgia was completed and signed off by the
Company's Georgian Partner, Strait Oil and Gas Ltd ("Strait") with the Seismic
Contractors the Geophysical Institute of Israel . Notification has been
received from the government stating that:

`the seismic acquisition program was carried out in accordance with the
requirements of the work program of the PSA and has fulfilled the obligations
undertaken by the company'.

This has resulted in the satisfaction of Phase II of the PSA, which was
required to be completed before May 2010.

Strait had engaged the Seismic Contractors to conduct a minimum of 350 km 2D
Seismic survey over the license area in accordance with the Phase II provisions
of the PSA governed by a contract signed in September 2009.

The seismic programme was acquired using the vibroseis technique and in total
410 km of 2D seismic data were recorded. From the onset the character of the
data observed in the QC brute stacks was good to very good and remained so
throughout the programme.

Following completion of the seismic acquisition, the seismic data is being
processed and interpreted by RPS Energy with the aim of identifying drill
targets by late Q2 2010 / early Q3 2010. Assuming the successful identification
of drillable targets, already indicated in three areas of the Blocks, the
Company will elect to either:

  * progress the targets at the current 50:50 equity basis with its partner
    Strait Oil and Gas (UK) Limited; or
   
  * look to attract potential farm-in partners to joint fund a drilling
    program.
   
Figure 1 - Seismic Vehicle

Texas - from explorer to producer

Less than three months after confirmation of a commercial discovery in the
North Chapman Ranch field, first production and sales were initiated from the
Smith #1 discovery well in Nueces County, Texas on February 19, 2010.

Initial production has been from the middle of three zones which has been
flowing naturally (without hydraulic fracture simulation). It is anticipated
that the well will be producing from this zone for several additional weeks
before being shut in for a recompletion involving addition of the two other
zones and fraccing of all three. All three zones will then be comingled and
produced. Hydraulically fracturing the reservoirs is expected to create
additional permeability paths from the reservoir to the well bore that should
sharply increase initial rates from all zones, which in turn will accelerate
payout while improving reserve recovery and overall economics.

Gross production for the quarter from the Smith #1 well has been approximately
73k MMcf of natural gas and 5,350 bbls of oil.

Figure 1 - processing facilities at the Smith #1 well site

Subsequent to quarter end

Following on from the success at the Smith #1 well, the joint venture has
embarked on a multi-well program with site preparations now completed for the
upcoming drilling of the Russell-Bevly Unit #1 well.

The well will be the Company's second to date in the North Chapman Ranch Field,
and with a projected total depth of 14,000 ft. (4,200m), the Russell Bevly #1
well will be an appraisal well located approximately 1,900 ft. (570m)
north-northwest of the Smith #1.

The well is expected to add reserves and production while helping to delineate
the overall size of the reservoir. Range holds a 20% working interest in the
well, which has an estimated dry hole cost of $US3.8m (Range share US$760,000).
Range will provide regular updates on the progress on the drilling of the
Russell-Bevly.

Following completion of site preparation work this week, spudding of the
Russell Bevly #1 well is expected to occur in the next several days.

Corporate

The Company's General Meeting was held on 19 March 2010 with all resolutions
being passed.

During the quarter the Company successfully completed a rights issue to
shareholders plus a placement to sophisticated and institutional investors that
raised approximately $14m.

Consolidated Cashflow Summary (Summary of Appendix 5B)

                                                   Current Qtr    Year to date 
                                                                   (9 months)  
                                                                               
Cashflows related to operating activities                                      
                                                                               
Payments for exploration                                 (6,685)       (12,884)
                                                                               
Payments for administration                              (1,376)        (3,068)
                                                                               
Interest received                                              5             10
                                                                               
Interest payable                                               -           (75)
                                                                               
                                                         (8,056)       (16,017)
                                                                               
Cashflows related to investing activities                                      
                                                                               
Payments for other fixed assets                                -            (6)
                                                                               
Loans to other entities                                    (213)          (293)
                                                                               
                                                           (213)          (299)
                                                                               
Cashflows related to financing activities                                      
                                                                               
Proceeds from issue of shares / options etc               14,065         20,575
                                                                               
Proceeds from borrowings                                 (1,100)            500
                                                                               
Costs associated with issue of shares                      (650)          (955)
                                                                               
                                                          12,315         20,120
                                                                               
Net increase / (decrease) in cash held                     4,046          3,804
                                                                               
Cash at beginning of quarter / year to date                  173            415
                                                                               
Cash at end of quarter / year to date                      4,219          4,219

As at 31 March 2010 the Company had on issue 853,583,049 million ordinary
shares and a total of 568,372,541 million options (various exercise prices and
exercise dates - namely 421,452,742, $0.05, 31 December 2011).  A full
formatted version of the Company's March 2010 quarterly activities and cash
flow report is available on the Company's website atwww.rangeresources.com.au
."

By order of the Board


Peter Landau

Executive Director

Contacts

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)               Old Park Lane Capital (Broker)
Stuart Laing                                            Michael Parnes
Tel: [phone]                                  Tel: [phone]

Range Background

Range Resources is a dual listed (ASX: RRS; AIM: RRL) oil & gas exploration
company with oil & gas interests in the frontier state of Puntland, Somalia,
the Republic of Georgia and Texas, USA.
  * In Puntland, Range holds a 20% working interest in two licences
    encompassing the highly prospective Dharoor and Nugaal valleys with plans
    to drill two wells (TSXV:AOI) - 65% Operator, in 2010.   
  * In the Republic of Georgia, Range holds a 50% farm-in interest in onshore
    blocks VIa and VIb, covering approx. 7,000sq.km. Range and its partner has
    successfully completed a 410km seismic acquisition program - end of March
    2010.   
  * Range holds a 25% interest in the North Chapman Ranch project, Texas. The
    project area encompasses approximately 1,680 acres in one of the most
    prolific oil and gas producing trends in the State of Texas. Drilling of
    the first well has resulted in a commercial discovery with production
    having commenced February 2010, with a second well expected to spud May
    2010.
   
The references to gas flow rates with regards to Texas have been provided by
the operator of the well, Crest Resources Inc., reviewed by Mark Patterson a
petroleum geologist director and partner of Texas Energy Advisers LLC (who act
as consultants to Range), who has over 25 years of relevant experience in the
oil & gas sector, and found to be consistent with the SPE Guidelines.