Mar09 Quarterly Activities Report

Range Resources Ltd        
ABN 88 002 522 009         
                           
Level 3, 1 Havelock Street 
West Perth, 6005           
Western Australia          
                           
Ph: [phone]        
Fx: [phone]        
[e-mail]

30 April 2009

               QUARTERLY REPORT FOR PERIOD ENDING 31 MARCH 2009                

The Board is pleased to provide the following commentary to be read in
conjunction with the Appendix 5B which is attached.

During the quarter the Company successfully completed a fully subscribed non
renounceable rights issue, democratic elections were held in Puntland and the
new management team continued to compile and review all available data in
relation to the offshore programme.

EXPLORATION UPDATE - Dharoor

The Company's joint venture partner, Africa Oil, completed its 2D seismic
programme in Puntland's Dharoor Valley in December 2008. A total of 782 km of
good quality vibroseis data, comprising a grid of 15 lines were recorded.

Africa Oil is currently processing the new survey and combining the results
with 555 km of older seismic data previously acquired. Mapping of this combined
survey has commenced and drilling locations are scheduled to be selected by
Africa Oil during the second quarter of 2009. A more definite timetable for rig
mobilisation and drilling will be announced as drilling locations are finalised
with actual drilling anticipated for the fourth quarter of 2009.

Range notes that the current world financial crisis combined with recent low
oil prices has meant that rig availability has increased significantly while
budgeted drilling costs have decreased significantly, thereby providing Africa
Oil greater flexibility in finalising its programme.

The Company has commenced contributions to the expenditure programme on the
Dharoor Valley (subject to finalization of cost allocation under the joint
operating agreement with Africa Oil). It should be noted that Africa Oil's
expenditure to date includes a rig mobilization fee and purchase and delivery
of inventory (mainly well heads and casing) sufficient for 4 wells.

Offshore Programme

During the quarter, a significant volume of both onshore and offshore data was
acquired from a third party and now forms the basis of a growing technical
library in Range's consultant Dallas offices. This dataset includes important
seismic coverage of Puntland's Outer Continental Shelf that will help to define
where new offshore data needs to be acquired and interpreted. The data should
allow Range to complete (during the current quarter) an integrated geological
and geophysical model over the entire Puntland offshore area and work
constructively with the Puntland Government on how best to exploit the offshore
potential.

The Company continues to develop its plan for the exploration of Puntland's
offshore areas. As referred to above, existing 2D seismic data from several
older surveys is being reviewed and interpreted along with earlier drilling
results in order to focus future exploration efforts on areas that are deemed
to have the highest potential for commercial reserves. The Company continued
its discussions with potential joint venture partners, seismic contractors and
security firms operating in the region in order to determine the feasibility,
cost, and timing of new 2D seismic acquisition in Puntland waters.

Political Situation

During the quarter Puntland held a democratic regional election. The successful
election of new President Dr Abdirahman Mohamed "Farole" was announced by the
Company and discussed in its Quarterly and Half Yearly Reports in 2009. The
Company is continuing to progress with establishing a constructive relationship
with the new Government and establish a mutually beneficial program of
developing Puntland's mineral and offshore hydrocarbon assets.

Non-Renounceable Rights Issue and Share Issues

The Company successfully completed its fully subscribed non renounceable rights
issue raising $1.5m.  104,652,472 unlisted options exercisable at 1.5 cents and
26,163,118 free attaching listed options exercisable at 5 cents on or before 31
December 2011 were issued.

The Company is in the final stages of securing an underwriter for the $1.5m
option exercise process due 31 May 2009.  Option holders have been sent
notification with regards to the exercise of their options on or before 31 May
2009.

The Board is encouraged by the response in today's economic climate and thanks
its shareholders for their support.

Some of these options have already been exercised, with the details set out in
the separately released Appendix 3B.   The Company also issued an additional
13,333,333 fully paid shares, 23,544,360 listed options exercisable at 5
cents on or before 31 December 2011 and 844,111 unlisted options exercisable 
at 1.5 cents on or before 31 May 2009 in lieu of various corporate and consulting 
services provided to the Company.

Mineral Exploration

The Western Australian tenements were divested to ex Director, Michael Povey in
a sale agreement reached as part of settlement arrangements for the termination
of his service contract. These tenements were a non-core asset that were
ascribed only limited value by the Company and would have been difficult for
the Company to dispose of for any cash consideration.  The divestment will save
the Company approximately $1,200,000 per annum in ongoing tenement related
costs.  Moving forward the Company will retain a 2% Royalty interest in the
tenements.   

Having been a director of the Company within the last 12 months, Mr Povey is
classed as a related party of the Company under the rules of the AIM market. 
The directors of the Company consider, having consulted with RFC Corporate
Finance Ltd, its nominated adviser in respect of its listing on the AIM market,
that the terms of the transaction are fair and reasonable insofar as its
shareholders are concerned.

By order of the Board

Peter Landau

Executive Director

Contacts

Range Resources
Peter Landau
Tel: [phone]
Em: [e-mail]

Australia

PPR
David Tasker
Tel: [phone]
Em: [e-mail]

RFC Corporate Finance (Nominated Advisor)
Stuart Laing
Tel: [phone]

London

Conduit PR
Jonathan Charles
Tel: + 44 (0) 20 7429 6666
Em: [e-mail]

Fox-Davies Capital (Broker)
Daniel Fox-Davies
Tel: [phone]