Range obtains quotation on OTCQX International

6 March 2012

The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000

By e-lodgement

RANGE TO TRADE ON THE US OTCQX INTERNATIONAL

Range Resources Limited ("Range" or "the Company") would like to announce that
it has upgraded the trading of its American Depositary Receipts ("ADR's") from
the OTC to the OTCQX International trading platform. It is anticipated that the
ADR's will be available for trading from Tuesday 6 March 2012.

The ADR's will initially be trading under the code RGRYD for the first circa 15
days of trading after which it will revert back to the original code, RGRYY.
Each ADR represents 40 ordinary shares listed on the Australian Securities
Exchange under the symbol "RRS" and on the AIM market of the London Stock
Exchange under the symbol "RRL".

Range's Executive Director, Mr. Peter Landau said "Gaining access to U.S.
investors and being able to share Range's story and value proposition are very
important to our future. We're confident that the combination of being quoted
on OTCQX paired with the extensive expertise and support of advisor and
Principal American Liaison Dahlman Rose will provide the connection we are
seeking with the U.S. investment community."

Managing Director and Co-Head of Dahlman Rose's OTCQX Advisory Group Stephen
Nash said, "With its industry leading OTCQX PAL Advisory program, Dahlman Rose
has the expertise and network to raise Range's profile among U.S. investors.
Several high calibre international companies have recently taken advantage of
OTCQX's cost-effective U.S. quotation enabling foreign equities to be traded
during U.S. market hours using U.S. Dollars and be held in U.S. brokerage
accounts."

As part of Dahlman Rose' Principal American Liaison sponsorship, the firm will
provide the PAL compliance service for Range's listing on the OTCQX
International as well as a suite of additional advisory roles. Dahlman Rose'
suite of services distinguishes its PAL sponsorship program by providing the
highest level of client service, integration and coordination among the firm's
institutional sales, trading, research and investment banking departments.

The OTCQX is a highly visible trading platform that has attracted more than 195
companies since its inception in early 2007. Built on a robust electronic
quotation and trading platform, the OTCQX International has emerged as the
world's premier cross-listing venue for international issuers that wish to
benefit from U.S. trading and investor demand without diluting their current
shareholder base. In just over three years, the OTCQX has grown to include more
than $1 trillion in companies traded on the market. Investors can find current
financial disclosure and Real-Time Level 2 quotes for the Company on
otcmarkets.com.

About Dahlman Rose

Dahlman Rose & Co., LLC (MEMBER: FINRA/SIPC) is a research-driven investment
bank focused on energy, transportation, infrastructure, and other industries
that compose the global supply chain. The firm's industry-leading analysts,
bankers, and traders offer unique insight into the companies and markets that
provide the building blocks of the global economy. Dahlman Rose provides
institutional sales and trading, equity research, mergers and acquisitions
advisory, and underwriting services. For more information regarding Dahlman
Rose, please visit drco.com.

The Company will provide an operational update shortly with respect to:
  * Initial production rates from the Smith #2 well on the North Chapman Ranch
    license following successful fracture stimulation of the well;
  * Trinidad operations; and
  * Progress on the Shabeel-1 well in Puntland Somalia.
   
Yours faithfully

Peter Landau
Executive Director

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

Australia                                     London
PPR                                           Tavistock Communications
David Tasker                                  Ed Portman/Paul Youens
Tel: [phone]                        Tel: + 44 (0) 20 7920 3150Em: [e-mail]
Em: [e-mail]

RFC Corporate Finance (Nominated Advisor)     Old Park Lane Capital (Joint Broker)
Stuart Laing                                  Michael Parnes
Tel: [phone]                        Tel: [phone]

Panmure Gordon (Joint Broker)
Katherine Roe / Brett Jacobs
Tel: [phone]

Range Background
Range Resources Limited 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, Texas, USA and Trinidad.
  * In Trinidad Range recently completed the acquisition of a 100% interest in
    holding companies with three onshore production licenses and fully
    operational drilling subsidiary. Independently assessed Proved (1P)
    reserves in place of 15.4 MMbls with 19.6 MMbls of proved, probable and
    possible (3P) reserves and an additional 20 MMbls (mean) of prospective
    resources.
  * 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
    billion barrels of undiscovered oil-in-place (on a mean 100% basis) with
    the first (Mukhiani-1) of two exploration wells having spudded in July in
    2011. Re-interpreted seismic supported by the Mukhiani-1 vertical seismic
    profiling has identified new fault and stratigraphic trapping potential
    with the possibility of a side track well to be drilled post additional
    seismic in 2H 2012.
  * In Puntland, Range holds a 20% working interest in two licences
    encompassing the highly prospective Dharoor and Nugaal valleys. The
    operator and 60% interest holder, Horn Petroleum Corp. (TSXV: HRN) spudded
    the first well in a two well programme in early 2012 targeting 300mmbls and
    375mmbbls of best estimate Prospective Resources (100% basis). Site
    construction has commenced on the second well with the setting of the 30
    inch surface casing and the drilling of a 50 meter pilot hole in readiness
    for spudding following the completion of the first well.   
  * Range holds a 25% interest in the initial Smith #1 well and a 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 3P
    reserves in place (on a 100% basis) of 242 Bcf of natural gas, 15 mmbbls of
    oil and 19 mmbbls of natural gas liquids.  
  * Range holds a 21.75% interest in the East Texas Cotton Valley Prospect in
    Red River County, Texas, USA, where the prospect's project area encompasses
    approximately 1,570 acres encompassing a recent oil discovery. The prospect
    has independently assessed 3P reserves in place (on a 100% basis) of
    3.3mmbbls of oil.
   
The reserves estimates for the 3 Trinidad blocks and update reserves estimates
for the North Chapman Ranch Project and East Texas Cotton Valley 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 has 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 an 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.

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").

The prospective resource estimates for the two Dharoor Valley prospects are
internal estimates reported by Africa Oil Corp, the operator of the joint
venture, which are based on volumetric and related assessments by Gaffney,
Cline & Associates.

In granting its consent to the public disclosure of this press release with
respect to the Company's Trinidad operations, Petrotrin makes no representation
or warranty as to the adequacy or accuracy of its contents and disclaims any
liability that may arise because of reliance on it.

SPE Definitions for Proved, Probable, Possible Reserves and Prospective
Resources

Proved Reserves are those quantities of petroleum, which by analysis of
geoscience and engineering data, can be estimated with reasonable certainty to
be commercially recoverable, from a given date forward, from known reservoirs
and under defined economic conditions, operating methods, and government
regulations.

Probable Reserves are those additional Reserves which analysis of geoscience
and engineering data indicate are less likely to be recovered than Proved
Reserves but more certain to be recovered than Possible Reserves.

Possible Reserves are those additional reserves which analysis of geoscience
and engineering data indicate are less likely to be recoverable than Probable
Reserves.

Prospective Resources are those quantities of petroleum estimated, as of a
given date, to be potentially recoverable from undiscovered accumulations by
application of future development projects. Prospective Resources have both an
associated chance of discovery and a chance of development. Prospective
Resources are further subdivided in accordance with the level of certainty
associated with recoverable estimates assuming their discovery and development
and may be sub-classified based on project maturity.


ABN 88 002 522 009
www.rangeresources.com.au

Australia
Ground Floor, 1 Havelock Street, West Perth WA 6005, Australia
t: [phone], f: [phone]
e: [e-mail]

London
Suite 1A, Prince's House, 38 Jermyn Street, London SW1 6DN 
t: [phone], f: [phone]