Texas Update

ABN 88 002 522 009

Level 3, 1 Havelock Street
West Perth, WA 6005

P [phone]
F [phone]

25 February 2010

Company Announcements

Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000

By E-lodgment

TEXAS UPDATE

Range Resources Limited ("Range" or "the Company") would like to announce an
update on the Company's US Gulf Coast interests following the successful
connection of the Smith #1 well to the sales line earlier this week.

Initial production is from the middle of three zones and is significantly
better than expected. Flow rates indicate that the currently producing zone may
not require fracture stimulation. The well initially flowed from the middle
zone at 2.5mmcf / day at a flowing pressure of 8,000 psi on a 6/64 inches
choke, increasing to 3.3mmcf and 290 bbls of oil per day without fracturing.
The well is currently being stabilised in order to run a 72 hour test this
week.

It is anticipated that the well will be producing from this zone for several
months before it will be shut in and a completion rig likely moved in. Once the
completion rig is in place, the lower zone is expected to be fracture
stimulated and tested, along with the upper zone. All three zones will then be
comingled and produced. Each zone is expected to be of similar size.

Depending upon the initial performance of the middle zone over the coming
months, the Operator may elect to fracture this zone as well. Hydraulically
fracturing the reservoirs would create additional permeability paths from the
reservoir to the well bore, which should sharply increase initial rates from
the various pay zones, which in turn would accelerate payout while improving
reserve recovery and overall economics.

The Company will continue to provide further updates on the progress of its
portfolio of assets.

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 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. Currently, Range is
    undertaking a 350km 2D seismic program.
   
  * 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 due
    to commence Feb 2010.
   
The references to hydrocarbon flow rates have been provided by the operator of
the well, 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.