ASX Price and Volume Query

5 January 2011


Via e-lodgement


ASX Price and Volume Query

Range Resources Ltd ("the Company") received a query from the Australian
Securities Exchange ("ASX") today in relation to the recent increase in the
Company's share price.  The Company's response to the ASX noted that it is not
aware of any information concerning it, that has not been announced and which,
if known, could be an explanation for recent trading in the securities of the
Company.

The Company also noted that it is aware that it was recently rated by a
sharemarket commentator in the UK as a `stock to watch' in 2011, and that this
appears to have resulted in significant investor interest and a rise in its
share price on the AIM market.  The Company also noted, as previously
announced, that it is progressing towards the commencement of mobilisation of
drilling operations in Georgia in early 2011 and is due to complete a Helium
survey mid/late January 2011 over the top three rated drillable projects.  The
Company will provide the market with material updates as and when available.


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                                 Forbes Cutler
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 240 Bcf of natural gas, 18 mmbbls of oil
    and 17 mmbbls of natural gas liquids.
   
  * Range holds a 13.56% interest in the East Texas Cotton Valley Prospect in
    Red River County, Texas, USA, with the prospect's project area encompasses
    approximately 1,570 acres encompassing a recent oil discovery.
    Independently assessed gross recoverable reserves in place 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 plans
    to drill two wells (TSXV:AOI) - 55% Operator, in 2011.
   
  * 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 with independent consultants
    RPS Energy identifying 68 potential structures containing and estimated
    2.045 billion barrels of oil-in-place.
   
  * In Trinidad Range has entered into a HOA to acquire a 10% interest in
    holding companies with three onshore production licenses. Independently
    assessed gross recoverable P2 reserves in place of 4.8MMbls.
   
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 www.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 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.

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").