Operations Update

Range Resources Ltd
                                                             ABN 88 002 522 009

                                                            34 Parliament Place
                                                             West Perth WA 6005

                                                                     PO Box 684
                                                             West Perth WA 6872

                                                             P: [phone]
                                                             F: [phone]

[e-mail]

2 November 2007

                               OPERATIONS UPDATE                               

Key points:

  * Seismic has been successfully completed on the Nogal Block, Puntland
   
  * First well expected to be spudded in first quarter 2008
   
  * Drill program also planned for the Dharoor block, Puntland
   
  * Africa Oil makes key technical appointment
   
Set out below is the Africa Oil operations update released with respect to the
oil and gas exploration project on the Nogal and Dharoor Blocks in Puntland
into which Africa Oil is earning an 80% interest (from Range) and is operator.
Range is extremely encouraged by the progress Africa Oil is making and looks
forward to further progress:


Drilling and Seismic Program

A comprehensive seismic reprocessing program, including review and integration
of all geophysical and geological data, has been successfully completed on the
Nogal Block. The Company (Africa Oil) expects to mobilize a drill rig into the
area in late 2007/early 2008 with the anticipation of spudding the first of two
back-to-back wells in the first quarter of 2008.

A drill program is also being planned for the Dharoor Block to follow the drill
campaign at Nogal. The Company (Africa Oil) is scheduling a major seismic
acquisition program over the Dharoor area and expects a seismic crew to be
mobilized in early 2008.

The Company (Africa Oil) has added another key member to its technical team.
Mr. Paul Colyer has joined the Company as Drilling Manager. Mr. Colyer,
considered one of the top drilling managers in the industry, brings over 35
years of experience to the Company (Africa Oil) . Mr. Colyer has spent the
greater part of his career at Occidental Petroleum and has drilled and managed
drill programs in both Yemen and Somalia.

Range would also like to clarify statements attributed to His Excellency,
Puntland President Hersi on a website suggesting that the Range and Africa Oil
exploration effort could be suspended due to the recent tensions in Las Anod
with Somaliland. The statements are not accurate and the President is committed
to ensuring that the exploration effort proceeds as expeditiously as possible
(as set out above) and will ensure that Puntland's borders remain secure to
assist in fast tracking the exploration effort.

Range would also like to direct its Shareholders to its website 
www.rangeresources.com.au where a new Research Report prepared by Fox Davies
Capital has been uploaded.

Yours faithfully

MIKE POVEY
Managing Director


Range's nominated adviser is RFC Corporate Finance Ltd, contact: Stuart Laing, ph: [phone].