Quarterly Report Period Ending 31 March 2011

30 April 2011

               QUARTERLY REPORT FOR PERIOD ENDING 31 MARCH 2011                

Issued Capital 1,451 M* ASX Code RRS Closing price $0.31*

AIM Code RRL Closing Price £0.20 *

Market Cap A$450m*

* as at 31 March 2011

Gross Production for the Quarter

Gas 218k mcf Range Interest - 48k mcf

Oil 12,646 bbls Range Interest - 2,804 bbls

The Board of Range Resources Limited ("Range" or "the Company") is pleased to
provide the following commentary to be read in conjunction with the Appendix 5B
(Quarterly Cash Flow Report) which is summarised below - a full version of the
Appendix 5B is available on the Company's website.

Texas

North Chapman Ranch

As reported above, production for the quarter was 48k mcf and 2,804 barrels net
to Range, which was similar to the previous quarter, however during the end of
the quarter the Company saw the successful fracture stimulation of both the
Smith # 1 and Russell Bevly wells. Since the fracture stimulation jobs were
initiated on these two wells, gross combined rates from the field have
increased by more than 500%, reaching 9.3 MMcf and 800 bbl of oil per day
during the month of March.

Range and its partners are also planning to spud a third well in the field. The
Albrecht #1 well is expected to spud in late Q2 / early Q3, with the
possibility of a follow up back to back well being discussed, subject to
success with the Albrecht.

Leading Petroleum Consultants, Lonquist & Co LLC's independent reserves report
has estimated the following gross commercially recoverable reserves from the
North Chapman Ranch Field:

Category                     Natural Gas   Oil (Mmbbls)   Natural Gas  
                                (Bcf)                      Liquids (M  
                                                             mbbls)    
                                                                       
Proved (P1)                      62.4           4.8           4.5      
                                                                       
Probable (P2)                    34.6           2.7           2.5      
                                                                       
Possible (P3)                   142.5          10.9           10.3     
                                                                       
Total Reserves                  239.5          18.4           17.3     

Set out below is Range's attributable interest in the gross recoverable
reserves on 25% of the Smith #1 well and on 20% of the remaining wells assuming
the exercise of certain clawback provisions by joint venture partners occurs
following the success of the Smith #1 and Russell-Bevly wells:

Category                     Natural Gas   Oil (Mmbbls)   Natural Gas  
                                (Bcf)                      Liquids (M  
                                                             mbbls)    
                                                                       
Proved (P1)                      12.7           1.0           0.9      
                                                                       
Probable (P2)                    6.9            0.5           0.5      
                                                                       
Possible (P3)                    28.5           2.2           2.1      
                                                                       
Total Reserves                   48.1           3.7           3.5      

East Texas Cotton Valley Prospect

Also during the quarter, the Company completed the acquisition of an additional
8.19% in the East Cotton Valley Prospect for a total cost of $148,000 in lease
acquisition costs and an overriding royalty retained by the seller, bringing
Ranges total interest to 21.75%.

The company commenced drilling of its first horizontal well (Ross 3H) and first
in the shallow oil prospect, which covers approximately 1,570 acres and
encompasses a recent oil discovery. The well had a projected total depth of
8,200ft (2,500m), including a 2,500ft (762m) horizontal section through the
Cotton Valley oil reservoir.

Subsequent to quarter end, the Ross 3H well reached total depth of 8,900 ft
(2,715m), with a horizontal section of approximately 3,400 ft (1,040m). Based
upon openhole logs, samples, and consistent oil shows during drilling
operations from both the vertical pilot hole and horizontal leg, Range and its
partners have successfully run and cemented in place a production liner to
target depth, with completion operations having begun. Once fraccing has been
completed, Range will be able to accurately report on flow rates and update
reserves.

Lonquist & Co LLC's independent reserves report has estimated the following
gross commercially recoverable oil reserves from the East Texas Cotton Valley
Prospect (operated by Range's private US partner):

                                                       Oil (Mmbbls)            
                                                                               
Reserves Category                                Gross        Net Attributable 
                                                                               
                                                 (100%)           to Range     
                                                                  (21.75%)     
                                                                               
Proved (P1)                                       1.5               0.33       
                                                                               
Probable (P2)                                     2.7               0.59       
                                                                               
Possible (P3)                                     5.4               1.17       
                                                                               
Total Reserves                                    9.6               2.09       

Georgia

During the quarter, the Company received the results from the Helium Survey
across three prospects in Block VIa and Block VIb completed by Actual Geology
International ("AGI"). Highlights of the helium survey included:

  * AGI indicating active oil & gas presence in the first 2 drill targets (as
    identified following the RPS Seismic Report) with the survey identifying
    priority zones which are most likely to contain potentially productive
    systems;
   
  * The productive zones, which have been distinguished at the Mukhiani and
    Kursebi areas, are suitable targets for exploration and potential
    development drilling, and well testing should provide the Clients with
    delineation and growth of active reserves high flow rates at launch, and
    considerable accrued production; and
   
  * The productive zones, which have been distinguished at the Mukhiani and
    Kursebi areas, are suitable targets for exploration and, if successful,
    development drilling.
   
The results of the helium survey confirmed the suitability of the first
drilling location with oil exploration and development prospectivity
complementing the earlier seismic work completed in the target.

Shortly after the completion of the helium survey, the Company and its Georgian
partners secured the services of Edeco Petroleum Services Limited ("Edeco") to
supply the exploration drilling rig to be used in the Company's upcoming
Georgian exploration drilling activities. As of the date of this report, Range
can advise that its contractors have secured a ship to transport the
exploration drilling rig from the UK to Georgia, thus triggering the
commencement of the Company's two exploration well drilling program in Georgia
with an anticipated spudding date of early June.

Also during the quarter the Company, along with its Georgian partner Strait Oil
and Gas UK Limited ("Strait") entered into a Heads of Agreement ("HOA") with
Red Emperor Resources NL ("Red Emperor") (ASX: RMP) to acquire a 20% farm-in
interest (10% from Range and 10% from Strait) in Block VIa and Block VIb in
Georgia.

The key terms of the HOA will see Red Emperor contribute 40% of the drilling
costs for the planned two well program (capped at total gross costs of $14m -
RMP contributing $5.6m) to acquire the 20% interest in the two blocks.

The Company believes the transaction significantly reduces the Company's
financial exposure to the

two well drilling program through the favourable two-for-one farmin terms,
whilst still maintaining a significant 40% interest in the two blocks.

Puntland

During the quarter, together with its joint venture partners, Africa Oil Corp.
("Africa Oil") and Lion Energy Corp., entered into amending agreements with the
Government of Puntland, in respect of the production sharing agreements
("PSAs") for the Dharoor Valley Exploration Area and the Nugaal Valley
Exploration Area.

The key amendments were as follows:

  * Under the PSAs, as amended, the First Exploration Agreement has been
    extended for a further 12 months, from January 17, 2011 to January 17,
    2012. 
   
  * Under the amended PSAs, a minimum of one exploratory well must be spudded
    in the Dharoor Valley Exploration Area by July 27, 2011.  A second
    exploratory well is required to be spudded in the Nugaal Valley Exploration
    Area or, at the option of Africa Oil (as operator), in the Dharoor Valley
    Exploration Area, by September 27, 2011.
   
Range has also agreed with its joint venture partner and operator Africa Oil
that the second exploration well due for spudding on of before 27 September
2011, will be included as part of Africa Oil's exploration commitments under
the Joint Venture Agreement between Range and Africa Oil.

Under this agreement, Africa Oil is obliged to spend US$22.5m in both Dharoor
and Nugaal before Range reverts to a contributing basis.

Africa Oil has satisfied their commitments with respect to Dharoor, however to
date, still has circa US$15m expenditure commitments on Nugaal, with
expenditure to date on Nugaal being circa US$7.5m. With the second well being
able to satisfy the joint ventures obligations under the Nugaal PSA, Range will
be carried for the first US$15m spent on the well.

Africa Oil is continuing with the appointment of drilling contractors and it is
Range's expectations that the appointment will occur shortly.

Trinidad

Subsequent to quarter-end, the Company entered into to a Heads of Agreement to
acquire the remaining 90% (previously held a 10% interest) ownership interest,
through SOCA Petroleum, in holding and subsidiary companies, hold three
production licences in producing onshore oilfields in Trinidad and significant
local onshore drilling operations.

The production acreage and operating wells cover the Morne Diablo, Beach
Marcelle and South Quarry oilfields, with the total acreage covering 16,253
gross acres on the southern coast of onshore Trinidad. Current production from
the fields is 600 bopd, however Range believes a minimal work program could
lift production to more than 4,000 bopd within 36 months on the known reserves.

In addition to the holding company parent of two subsidiaries holding
production licences for the onshore acreage, the proposed Range acquisition
also includes a 100% interest in the parent of a wholly owned drilling company
(located in Trinidad), which owns 5 onshore drill rigs, 3 production rigs, 1
swab rig, storage tanks, a pipe yard and operating facilities that include a
workshop and a fabrication welding machine shop.

In addition to the known reserves, significant potential exists in the deeper
Herrera Formation (refer below). The Deeper Herrera Formation will be a primary
target of future drilling using company-owned drilling rigs, which are capable
of reaching the depth of these formations. Subject to the successful drill
testing of this formation, the Company is ultimately targeting an increase in
the production level to between 8,000 - 10,000 bopd.

An independent recoverable reserves assessment by Forrest A. Garb & Associates1
has provided the following certified Reserves and Resources for the 3 blocks (
note: the report does not provide an assessment of the Deeper Herrera
Formations referred to above).

                                        Oil and Condensate
                                          (MMbbl) (100%)  
                                                          
                                           Recoverable    
                                                          
Proved Reserves*                               2.6        
                                                          
Probable Reserves                              2.2        
                                                          
Possible Reserves                              2.1        
                                                          
Total Reserves (3P)*                           6.9        
                                                          
Prospective Resources (Undeveloped)             20        

*Net Reserves take into account payment of government royalty and overriding
revenue interests.

The planned production doesn't take into account exploration upside with
significant potential from the deeper `Herrera Formations' which host
substantial producing reserves on adjacent blocks, with 10 Herrera Formation
Targets already mapped with extensive 3D Seismic existing on SOCA's three
onshore licences.

Corporate

During the quarter Range was included in the FTSE AIM All Share Index ("the
Index") in the UK. In order to qualify for inclusion in the Index the Company
must meet certain liquidity requirements over a twelve month period, which the
Company met during 2010.

The board believes this to be a significant milestone for the Company with the
inclusion in the Index increasing Range's exposure to AIM Index Funds along
with increasing the Company's profile amongst institutional investors.

The Company also obtained a £20m equity line of credit facility with First
Columbus, in which the Company drew down approximately £15.2m during the
quarter and a further £3.5m subsequent to quarter end. The Company also raised
circa $5m through the exercise of options.

Subsequent to quarter end, the Company also announced it had completed a
placement at £0.17 to raise £20m through its London broker, Old Park Lane PLC,
which was heavily oversubscribed, with the Company looking to take an
additional £5m.

Appendix 5B Summary - Consolidated Statement of Cashflow

                                                Current Quarter    Year to date
                                                                               
                                                         $A'000      (9 months)
                                                                               
                                                                         A$'000
                                                                               
Cashflows related to operating activities                                      
                                                                               
Receipts from product sales and related                     243           1,055
debtors                                                                        
                                                                               
Payments for:                                                                  
                                                                               
  * exploration and evaluation                          (8,438)        (16,144)
                                                                               
  * development                                         (1,806)         (2,327)
                                                                               
  * production                                            (157)           (622)
                                                                               
  * administration                                        (816)         (2,460)
                                                                               
Dividends received                                            -               -
                                                                               
Interest and other items or a similar nature                 90             230
received                                                                       
                                                                               
Interest and other costs of finance paid                      -           (175)
                                                                               
Income taxes paid                                             -               -
                                                                               
Other                                                         -               -
                                                                               
                        Net operating cashflow         (10,884)        (20,443)
                                                                               
Cashflows related to investing activities                                      
                                                                               
Payments for the purchase of:                                                  
                                                                               
  * prospects                                           (2,604)         (2,604)
                                                                               
  * other fixed assets                                        -               -
                                                                               
Proceeds from the sale of:                                                     
                                                                               
  * prospects                                                 -               -
                                                                               
  * other fixed assets                                        -               -
                                                                               
Loans to other entities                                       -               -
                                                                               
Other                                                         -               -
                                                                               
                       Net investing cashflows          (2,604)         (2,604)
                                                                               
Cashflows related to financing activities                                      
                                                                               
Proceeds from issue of shares, options etc.              29,593          39,595
                                                                               
Proceeds from sale of forfeited shares                        -               -
                                                                               
Proceeds from borrowings                                      -               -
                                                                               
Repayment of borrowings                                       -               -
                                                                               
Dividends paid                                                -               -
                                                                               
Costs associated with issue of shares (refer                  -           (319)
to note)                                                                       
                                                                               
                       Net financing cashflows           29,593          39,276
                                                                               
        Net increase / (decrease) in cash held           16,105          16,229
                                                                               
Cash at the beginning of the quarter / year to            7,522           7,398
date                                                                           
                                                                               
Exchange rate adjustments                                     -               -
                                                                               
CASH AT THE END OF THE QUARTER                           23,627          23,627

Yours faithfully


Contacts

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

Australia                                          London
PPR                                                Tavistock Communications
David Tasker                                       Ed Portman / Paul Youens
Tel: [phone]                             Tel: [phone]
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.

  * Range holds a 25% interest in the initial Smith #1 well and 20% interest in
    further wells on 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 independently assessed gross
    recoverable reserves in place (on a mean 100% basis) of 240 Bcf of natural
    gas, 18 mmbbls of oil and 17 mmbbls of natural gas liquids.
   
  * Range holds a 21.75% interest in the East Texas Cotton Valley Prospect in
    Red River County, Texas, USA, with the prospect's project area encompassing
    approximately 1,570 acres including a recent oil discovery. Independently
    assessed gross recoverable reserves in place (on a mean 100% basis) of 5.4
    Mmbbls of oil.
   
  * In Puntland, Range holds a 20% working interest in two licences
    encompassing the highly prospective Dharoor and Nugaal valleys with the
    operator and 45% interest holder, Africa Oil Corp (TSXV:AOI) plan ing to
    drill two wells in 2011.
   
  * In the Republic of Georgia, Range holds a 40% farm-in interest in onshore
    blocks VIa and VIb, covering approx. 7,000sq.km. Range has recently
    completed a 410km 2D seismic program with independent consultants RPS
    Energy identifying 68 potential structures containing an estimated 2.04
    billion barrels of undiscovered oil-in-place (on a mean 100% basis).
   
  * In Trinidad Range has entered into a HOA to acquire a 100% interest in
    holding companies with three onshore production licenses and a fully
    operational drilling subsidiary. Independently assessed gross recoverable
    3P reserves in place of 6.9MMbls (mean 100% basis).
   
The reserves estimate for the North Chapman Ranch Project and East Texas Cotton
Valley has been formulated by Lonquist & Co LLC who are Petroleum Consultants
based in the United States with offices in Houston and Austin. Lonquist
provides specific engineering services to the oil and gas exploration and
production industry, and consults on all aspects of petroleum geology and
engineering for both domestic and international projects and companies.
Lonquist & Co LLC have consented in writing to the reference to them in this
announcement and to the estimates of oil, natural gas and natural gas liquids
provided. These estimates were formulated in accordance with the guidelines of
the Society of Petroleum Engineers ("SPE"). The SPE Reserve definitions can be
found on the SPE website at spe.org.

The reserves estimates for the 3 Trinidad blocks referred above have been
formulated by Forrest A. Garb & Associates, Inc. (FGA). FGA is an international
petroleum engineering and geologic consulting firm staffed by experienced
engineers and geologists. Collectively FGA staff have more than a century of
world–wide experience. FGA have consented in writing to the reference to them
in this announcement and to the estimates of oil and natural gas liquids
provided. The definitions for oil and gas reserves are in accordance with SEC
Regulation S–X.

RPS Group is an International Petroleum Consulting Firm with offices worldwide,
who specialise in the evaluation of resources, and have consented to the
information with regards to the Company's Georgian interests in the form and
context that they appear. These estimates were formulated in accordance with
the guidelines of the Society of Petroleum Engineers ("SPE").

Forward Looking Statements

Certain statements contained in this announcement, including information as to
the future financial or operating performance of Range Resources Limited and
its projects, are forward–looking statements. Such forward–looking statements:

  * are necessarily based upon a number of estimates and assumptions that,
    while considered reasonable by Range Resources Limited, are inherently
    subject to significant technical, business, economic, competitive,
    political and social uncertainties and contingencies;
   
  * involve known and unknown risks and uncertainties that could cause actual
    events or results to differ materially from estimated or anticipated events
    or results reflected in such forward–looking statements; and
   
  * may include, among other things, statements regarding targets, estimates
    and assumptions in respect of production and prices operating costs
    production prices, and results, capital expenditures, reserves and
    resources and anticipated flow rates, and are or may be based on
    assumptions and estimates related to future technical, economic, market,
    political, social and other conditions.
   
Range Resources Limited disclaims any intent or obligation to update publicly
any forward–looking statements, whether as a result of new information, future
events or results or otherwise.

The words "believe", "expect", "anticipate", "indicate", "contemplate",
"target", "plan", "intends", "continue", "budget", "estimate", "may", "will",
"schedule" and similar expressions identify forward–looking statements.

All forward–looking statements made in this presentation are qualified by the
foregoing cautionary statements. Investors are cautioned that forward–looking
statements are not guarantees of future performance and accordingly investors
are cautioned not to put undue reliance on forward–looking statements due to
the inherent uncertainty therein