Texas Update

28 June 2010


Company Announcements
Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000


By E-lodgment

TEXAS UPDATE

Russell Bevly #1 Appraisal Well

Range Resources Limited ("Range", or "the Company") would like to announce an
update on the Russell Bevly #1 appraisal well as part of the North Chapman
Ranch Joint Venture's multi-well program in Texas.

Drilling has slightly exceeded target depth to 14,222' (4,336m), with mud logs
during drilling reporting the presence of hydrocarbons. Open hole well logs
will commence shortly to determine the extent of the hydrocarbons present with
results to be reported once completed and become available.

Figure 1: Precision #37 rig drilling ahead on Russell Bevly #1 Well - please refer to website. 


Well Details

Name of well              Russell Bevly #1                  
                                                            
Spud date                 9 May 2010                        
                                                            
Current depth             ~14,222 ft (4,336m)               
                                                            
Proposed total depth      ~14,000 ft (4,268m)               
                                                            
RRS working interest      20%                               


Smith #1 Well Update

The artificial fracture stimulation of the Smith #1 well has been completed
with the operator now slowly opening the choke diameter to ensure the
performance of the well is optimised following the successful stimulation of
the well.

For and on behalf of the Board

Regards

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 6611
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 of 215 Bcf of natural gas, 16 mmbbls of oil
    and 15 mmbbls of natural gas liquids.
   
  * 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. Currently, Range has
    recently completed a 410km 2D seismic program.
   
The reserves estimate for the North Chapman Ranch Project 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 as well as in the full Lonquist report on the Range website.