Company Update

17 February 2010


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


By E-lodgment

COMPANY UPDATE

Texas

Range Resources Limited ("Range" or "the Company") would like to announce a
further update on the Company's US Gulf Coast interests.

As previously announced the production facilities are in place, with the flow
line and connection to the sales line now being installed in readiness for
imminent first production.

Pumps have been running continuously over the past few days draining the
surface water next to the facilities to allow for the successful installation
of the flow line to the sales line. Whilst the water has been drained work crew
have been welding the flowline together in 500 ft sections on the well/tank
location (which is now built up and dry). With the water drained the work crew
will be preparing trenches for the laying of the flowline and connection with
the sales line.

Following the tie up, next stages will include commercial sales, production
rates, independent reserve report and drilling of the second development well
scheduled for April 2010.

Georgia

The seismic acquisition program is progressing well with the seismic contractor
having completed the majority of the mountainous and elevated acquisition. To
date approximately 220kms has been completed, with approximately 140kms
remaining. Given the majority of the remaining kms to be acquired is on the
lower ground, it is envisaged that the total program will be completed towards
the end of March 2010.

Figure 1 - Seismic Acquisition Program (red = completed / yellow = planned /
blue = optional) - please see website for picture. 

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.