2nd Quarter Cashflow

Rule 5.3

                                  Appendix 5B                                  

                  Mining exploration entity quarterly report                   

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity                                                           
                                                                         
RANGE RESOURCES LIMITED                                                  

ABN                                           Quarter ended ("current    
                                              quarter")                  
                                                                         
88 002 522 009                                31 December 2008           

Consolidated statement of cash flows

Cash flows related to operating             Current quarter       Year to date
activities                                                                    
                                                     $A'000         (6 months)
                                                                              
                                                                        $A'000
                                                                              
1.1   Receipts from product sales and                                         
      related debtors                                                         
                                                                              
1.2   Payments for                                  (1,215)            (1,751)
                                                                              
      (a) exploration and evaluation                      -                  -
                                                                              
      (b) development                                     -                  -
                                                                              
      (c) production                                  (669)            (1,455)
                                                                              
      (d) administration                                                      
                                                                              
1.3   Dividends received                                  -                  -
                                                                              
1.4   Interest and other items of a                      14                 53
      similar nature received                                                 
                                                                              
1.5   Interest and other costs of                         -                  -
      finance paid                                                            
                                                                              
1.6   Income taxes paid                                   -                  -
                                                                              
1.7   Other                                               -                  -
                                                                              
      Net Operating Cash Flows                      (1,870)            (3,153)
                                                                              
      Cash flows related to investing                                         
      activities                                                              
                                                                              
1.8   Payment for purchases of:                           -                  -
                                                                              
      (a)prospects                                        -                  -
                                                                              
      (b)equity investments                            (78)              (227)
                                                                              
      (c) other fixed assets                                                  
                                                                              
1.9   Proceeds from sale of:                              -                  -
                                                                              
      (a)prospects                                        -                  -
                                                                              
      (b)equity investments                               -                  -
                                                                              
      (c)other fixed assets                                                   
                                                                              
1.10  Loans to other entities                             -                  -
                                                                              
1.11  Loans repaid by other entities                      -                  -
                                                                              
1.12  Other                                               -                  -
                                                                              
      Net investing cash flows                         (78)              (227)
                                                                              
1.13  Total operating and investing cash            (1,948)            (3,380)
      flows (carried forward)                                                 

1.13  Total operating and investing cash            (1,948)           (3,380)
      flows (brought forward)                                                
                                                                             
      Cash flows related to financing                                        
      activities                                                             
                                                                             
1.14  Proceeds from issues of shares,                     -                 -
      options, etc.                                                          
                                                                             
1.15  Proceeds from sale of forfeited                     -                 -
      shares                                                                 
                                                                             
1.16  Proceeds from borrowings                            -                 -
                                                                             
1.17  Repayment of borrowings                             -                 -
                                                                             
1.18  Dividends paid                                      -                 -
                                                                             
1.19  Costs associated with issue of                    (4)               (4)
      shares (refer to note)                                                 
                                                                             
      Net financing cash flows                          (4)               (4)
                                                                             
      Net increase (decrease) in cash               (1,952)           (3,384)
      held                                                                   
                                                                             
1.20  Cash at beginning of quarter/year               2,710             4,138
      to date                                                                
                                                                             
1.21  Exchange rate adjustments to item                 (5)               (1)
      1.20                                                                   
                                                                             
1.22  Cash at end of quarter                            753               753

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related
entities

                                                              Current quarter
                                                                             
                                                                       $A'000
                                                                             
1.23   Aggregate amount of payments to the parties                        182
       included in item 1.2 and 1.7                                          
                                                                             
1.24   Aggregate amount of loans to the parties included                  Nil
       in item 1.10                                                          
                                                                             
1.25   Explanation necessary for an understanding of the transactions        
                                                                             
       Payments of Directors Fees and Financial/Company Secretarial/Office   
       Support Services $182k                                                
                                                                             

Non-cash financing and investing activities

2.1   Details of financing and investing transactions which have had a       
      material effect on consolidated assets and liabilities but did not     
      involve cash flows                                                     
                                                                             
      N/A                                                                    

2.2   Details of outlays made by other entities to establish or increase     
      their share in projects in which the reporting entity has an interest  
                                                                             
      N/A                                                                    

Financing facilities available

Add notes as necessary for an understanding of the position.

                                            Amount available        Amount used
                                                                               
                                                      $A'000             $A'000
                                                                               
3.1   Loan facilities                                      -                  -
                                                                               
3.2   Credit standby arrangements                          -                  -

Estimated cash outflows for next quarter

                                                                         $A'000
                                                                               
4.1   Exploration and evaluation                                            500
                                                                               
4.2   Development                                                             -
                                                                               
      Total                                                                 500

Reconciliation of cash

Reconciliation of cash at the end   Current quarter  Previous quarter
of the quarter (as shown in the                                      
consolidated statement of cash               $A'000            $A'000
flows) to the related items in the                                   
accounts is as follows.                                              
                                                                     
5.1  Cash on hand and at bank                   753             2,710
                                                                     
5.2  Deposits at call                             -                 -
                                                                     
5.3  Bank overdraft                               -                 -
                                                                     
5.4  Other - Term Deposit                         -                 -
                                                                     
     Total: cash at end of quarter              753              2,710            
     (item 1.22)                                                     

Changes in interests in mining tenements

                         Tenement    Nature of interest   Interest  Interest at
                         reference                        at        end of     
                                     (note (2))           beginning quarter    
                                                          of                   
                                                          quarter              
                                                                               
6.1  Interests in mining E70/2500    Indirect             60%       Nil        
     tenements                                                                 
     relinquished,                                                             
     reduced or lapsed                                                         
                                                                               
6.2  Interests in mining Nil                                                   
     tenements acquired                                                        
     or increased                                                              

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights
together with prices and dates.

                    Total number     Number       Issue price  Amount paid up  
                                     quoted       per security per security    
                                                  (see note 3) (see note 3)    
                                                  (cents)      (cents)         
                                                                               
7.1   Preference +  Nil                                                        
      securities                                                               
      (description)                                                            
                                                                               
7.2   Changes                                                                  
      during                                                                   
      quarter                                                                  
                                                                               
      (a) Increases                                                            
      through                                                                  
      issues                                                                   
                                                                               
      (b) Decreases                                                            
      through                                                                  
      returns of                                                               
      capital,                                                                 
      buy-backs,                                                               
      redemptions                                                              
                                                                               
7.3   +Ordinary     209,404,944      209,404,944                               
      securities                                                               
                                                                               
7.4   Changes       15,100,000       15,100,000                                
      during                                                                   
      quarter       Nil              Nil                                       
                                                                               
      (a) Increases                                                            
      through                                                                  
      issues                                                                   
                                                                               
      (b) Decreases                                                            
      through                                                                  
      returns of                                                               
      capital,                                                                 
      buy-backs                                                                
                                                                               
7.5   +Convertible  Nil                                                        
      debt                                                                     
      securities                                                               
      (description)                                                            
                                                                               
7.6   Changes                                                                  
      during                                                                   
      quarter                                                                  
                                                                               
      (a) Increases                                                            
      through                                                                  
      issues                                                                   
                                                                               
      (b) Decreases                                                            
      through                                                                  
      securities                                                               
      matured,                                                                 
      converted                                                                
                                                                               
7.7   Options                                            Exercise      Expiry Date
                                                         Price                 
                                                       

                    64,901,186       64,901,186          $1.00    1 October 2010             
                                                                   
                    3,177,029                           $0.50    30 June 2012             
                                                                               
7.8   Issued during 4,500,000        4,500,000           $1.00   1 October 2010
      quarter                                                                  
                    225,000                              $0.50     30 June 2012
                                                                               
7.9   Exercised     -                -                                         
      during                                                                   
      quarter                                                                  
                                                                               
7.10  Expired       63,723,901       -                   $1.00   1 October 2008
      during                                                                   
      quarter                                                                  
                                                                               
7.11  Debentures    Nil                                                        
                                                                               
      (totals only)                                                            
                                                                               
7.12  Unsecured     Nil                                                        
      notes(totals                                                             
      only)                                                                    
                                                                               
7.13  Partly Paid   Nil                                                        
      Shares                                                                   

Compliance statement

1 This statement has been prepared under accounting policies which comply with
accounting standards as defined in the Corporations Act or other standards
acceptable to ASX (see note 4).

2 This statement does give a true and fair view of the matters disclosed.


____________________

Peter Landau

Executive Director

30 January 2009

Notes

1 The quarterly report provides a basis for informing the market how the
entity's activities have been financed for the past quarter and the effect on
its cash position. An entity wanting to disclose additional information is
encouraged to do so, in a note or notes attached to this report.

2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of
interests in mining tenements acquired, exercised or lapsed during the
reporting period. If the entity is involved in a joint venture agreement and
there are conditions precedent which will change its percentage interest in a
mining tenement, it should disclose the change of percentage interest and
conditions precedent in the list required for items 6.1 and 6.2.

3 Issued and quoted securities The issue price and amount paid up is not
required in items 7.1 and 7.3 for fully paid securities.

4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive
Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International
Accounting Standards for foreign entities. If the standards used do not address
a topic, the Australian standard on that topic (if any) must be complied with.

                                == == == == ==                                 

Appendix 5B

Mining exploration entity quarterly report

                                                                    Appendix 5B

                                     Mining exploration entity quarterly report

+ See chapter 19 for defined terms.

Appendix 5B Page 2 30/9/2001

+ See chapter 19 for defined terms.

Appendix 5B Page 1