Quarterly Activites Report and Appendix 5B

31 July 2009

                QUARTERLY REPORT FOR PERIOD ENDING 30 JUNE 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 raised $1.3m from the exercise of options,
appointed a new director and company secretary and the management team continue
their data review. Subsequently the Company signed a Heads of Agreement with
unlisted UK Company, Strait Oil and Gas Limited, to acquire a 50% farm in
interest in two oil and gas blocks in Georgia.

During the quarter Range established a constructive relationship with the new
Puntland Government and is continuing discussions with regard to jointly
developing off-shore Puntland with the assistance of a joint venture partner

Puntland Exploration Update

Government officials were presented with a detailed history of, and strategies
for the future exploration of the Puntland Outer Continental Shelf (OCS). In
order to place the current exploration efforts in context, results of prior
drilling were reviewed, and the importance of data acquired during prior
drilling campaigns was discussed. Range management began by presenting the
tectonic history of the Gulf of Aden, and its effect on the evolution of
sedimentary basins in the region. Petroleum source rocks and their maturity
were discussed, along with regional cross sections showing lateral variations
in stratigraphy. Additional studies related to paleogeography and facies belts
were presented, and the effects of paleoclimatic changes on the distribution of
sediments in the region were explained.

                                                                               
The correlation of onshore wells to offshore was presented in order to
demonstrate the differences and similarities between onshore basins and their
offshore counterparts.  In addition, and as shown below, the similarities
between Puntland stratigraphy and that of Southern Yemen were detailed. Based
on the available geological and geophysical data, Range representatives
outlined their offshore exploration strategy going forward. In addition to
conventional exploration models, several new play concepts were presented and
discussed. After a description of the existing subsurface and 2D seismic
databases, the need for new 2D seismic coverage was discussed and offshore
exploration areas were prioritized. Range management continues to work with the
Puntland government to lay the legal and technical groundwork necessary to
attract investment in the Puntland OCS.

                                                                               
Africa Oil (80% interest, 25% subject to farm-out by Africa Oil to Raytec),
Range's Joint Venture partner on the two on-shore Puntland concessions and the
Puntland Government are continuing discussions with regards to foramlising the
proposed deriliong program for Q4 2009 und Q1 2010.

Heads of Agreement Signed to acquire a 50% farm in interest in two key Georgian
Oil & Gas blocks

As announced on 9 July 2009 the Company has signed Heads of Agreement signed
with unlisted UK Company, Strait Oil and Gas Limited, to acquire a 50% farm in
interest in two oil and gas blocks in the Republic of Georgia, Eastern Europe.

The two blocks subject to this agreement, Blocks VIa and Vlb cover a contiguous
area of 7,000 sq km (approx 10% of the surface area of the Country) and were
subject to significant exploration in the Soviet era. Please refer Figure 1 for
outline of block locations.

Led by Range's seasoned international energy executives Mark Patterson and Greg
Smith, the Company is well placed (in conjunction with Strait's established
team) to find and produce commercial volumes of oil and natural gas on the
Georgian Blocks.

Blocks VIa and Vlb Background

A significant number of wells were drilled during the Soviet era (mainly in the
1980's and early 1990's) in and adjacent to the Blocks. Strait has undertaken a
large scale review of all available data over the last two years with the
assistance of recognised international oil and gas consultants RPS Energy.

Key findings of the technical review include:

  * Very few of the approximately 200 wells were drilled with the specific
    objective of finding oil and gas reservoirs. Certain wells were drilled to
    relatively shallow depths, to further define structural features identified
    from surface geological mapping, and to assist in planning the location and
    design of water reservoirs. Deeper wells were drilled for the purpose of
    detailed identification of the stratigraphy of the area. Many of these
    wells found oil and gas shows, in which case they were shut in and
    abandoned without testing. Much of the work carried out by the technical
    staff of Strait has been to collate information from these diverse
    databases and to integrate the data into their own regional interpretation.
    Data reviewed includes seismic, gravity and magnetic, well, structural
    mapping and field analogues and reservoir data.
   
  * An initial analysis of 24 areas identified 11 structures suitable for oil
    in place estimates and key targets for future drilling. Of these structures
    two are deeper than 2,500 meters and the rest are shallow features between
    600 and 2,500 meters. Range intends to release an announcement detailing
    the oil in place potential of the identified leads and prospects following
    completion of its final stage due diligence review.
   
  * In compliance with the terms of the applicable PSA (see below), Range
    proposes to complete 350km of seismic before May 2010 (in accordance with
    the PSA) and then commence a minimum two well drilling program.
   
  * In addition to the oil potential of the Blocks there are numerous
    prospective gas fields, which include highly prospective natural gas and
    coal bed methane targets. Of the 161 wells drilled for gas, 22 displayed
    potentially commercial flow rates. Early production could be attained by
    supplying the local city of Kutaisi (second biggest in Georgia) with a
    dedicated natural gas supply.
   
Figure 1
                                                                               
Please refer to the Company's website www.rangeresources.com.au for the full
ASX Announcement and Diagrams. 

Exercise of Options

During the quarter 88m options, $0.015, 31 May 2009, were exercised raising
$1.3m, making a total of 104m options exercised raising $1.5m. The Board is
encouraged by the response in today's economic climate and thanks its
shareholders for their support.

Director & Company Secretary Appointments

Mr Anthony Eastman was appointed as a Director of the Company. Anthony is a
Chartered Accountant (BCom, CA) with a number of years experience in Financial
Management and Corporate Advisory Services. He has previously worked with Ernst
& Young and CalEnergy Gas Ltd, a subsidiary of the Berkshire Hathaway Group of
Companies in both Australia and the United Kingdom.

Mr Peter Landau resigned as Company Secretary and Mr Anthony Eastman and Ms
Jane Flegg were appointed as Joint Company Secretary.

By order of the Board


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




                                  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                   30 June 2009                

Consolidated statement of cash flows

Cash flows related to operating             Current quarter       Year to date
activities                                                                    
                                                     $A'000        (12 months)
                                                                              
                                                                        $A'000
                                                                              
1.1   Receipts from product sales and                                         
      related debtors                                                         
                                                                              
1.2   Payments for                                    
                                                                              
      (a) exploration and evaluation                    (940)            (3,545)
                                                                              
      (b) development                                     -                  -
                                                                              
      (c) production                                      -                  -
                                                                              
      (d) administration                                (481)            (2,842)                      
                                                                              
1.3   Dividends received                                  -                  -
                                                                              
1.4   Interest and other items of a                       1                 56
      similar nature received                                                 
                                                                              
1.5   Interest and other costs of                       (3)                (3)
      finance paid                                                            
                                                                              
1.6   Income taxes paid                                   -                  -
                                                                              
1.7   Other                                               -                  -
                                                                              
      Net Operating Cash Flows                      (1,423)            (6,334)
                                                                              
      Cash flows related to investing                                         
      activities                                                              
                                                                              
1.8   Payment for purchases of:                           
                                                                              
      (a)prospects                                        -                  -
                                                                              
      (b)equity investments                               -                  -
                                                                              
      (c) other fixed assets                              -              (168)                    
                                                                              
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                            -              (168)
                                                                              
1.13  Total operating and investing cash            (1,423)            (6,502)
      flows (carried forward)                                                 

1.13  Total operating and investing cash            (1,423)           (6,502)
      flows (brought forward)                                                
                                                                             
      Cash flows related to financing                                        
      activities                                                             
                                                                             
1.14  Proceeds from issues of shares,                 1,215             2,916
      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                   (84)             (135)
      shares (refer to note)                                                 
                                                                             
      Net financing cash flows                        1,131             2,781
                                                                             
      Net increase (decrease) in cash                 (292)           (3,721)
      held                                                                   
                                                                             
1.20  Cash at beginning of quarter/year                 707             4,138
      to date                                                                
                                                                             
1.21  Exchange rate adjustments to item                   1               (1)
      1.20                                                                   
                                                                             
1.22  Cash at end of quarter                            416               416

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                         33
       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        
                                                                             
       $23,332 payment of Directors Fees                                     
                                                                             
       $9,890 reimbursement of expenses                                      
                                                                             

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                                          1,232
                                                                               
4.2   Development                                                             -
                                                                               
      Total                                                               1,232

Reconciliation of cash

Reconciliation of cash at the end of     Current quarter  Previous quarter
the quarter (as shown in the                                              
consolidated statement of cash flows)             $A'000            $A'000
to the related items in the accounts is                                   
as follows.                                                               
                                                                          
5.1   Cash on hand and at bank                       416               707
                                                                          
5.2   Deposits at call                                 -                 -
                                                                          
5.3   Bank overdraft                                   -                 -
                                                                          
5.4   Other - Term Deposit                             -                 -
                                                                          
      Total: cash at end of quarter                  416               707
      (item 1.22)                                                         

Changes in interests in mining tenements

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

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     328,155,495      328,155,495                               
      securities                                                               
                                                                               
7.4   Changes                                            
      during                                                                   
      quarter                                                                  
                                                                               
      (a) Increases 102,582,296      102,582,296                                                     
      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 Price  Expiry Date

                    64,901,186       64,901,186           $1.00   31 October 2010
                                                                          
                    128,709,040      128,709,040          $0.05   31 December 2011  
                                                                          
                    3,177,029                             $0.50   30 June 2012
                                                                          
                                                                   
                                                                          
                                                                               
7.8   Issued during 90,426,383       90,426,383           $0.05   31 December 2011
      quarter                                                                  
                                                                               
7.9   Exercised     (88,398,647)                          $0.015  31 May 2009
      during                                                                   
      quarter       (56,400)         (56,400)             $0.05   31 December 2011
                                                                               
7.10  Expired       Nil                                                        
      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
31 July 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.