RB 1 Well Confirms North Chapman Ranch Discovery

ABN 88 002 522 009

Level 3, 1 Havelock Street
West Perth, WA 6005

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30 June 2010

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

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TEXAS UPDATE

Russell Bevly #1 Appraisal Well Confirms North Chapman Ranch Discovery

Range Resources Limited ("Range", or "the Company") would like to announce an
update on the Russell Bevly #1 appraisal well as part of the North Chapman
Ranch Joint Venture's multi-well program in Texas.

After drilling to a revised Total Depth of 14,225' (4,337m), the operator has
concluded open hole logging operations that indicate the presence of
approximately 130 ft. of net oil and gas pay in the Howell Hight formation.
This exceeds the net pay thickness of the Smith #1 discovery well (Range
interest - 25%) and identifies a new, potentially productive interval. The well
is currently being equipped with 4 1/2" production casing.

The Russell Bevly #1 confirms the Company's structural and stratigraphic models
across the northwestern flank of the field, which formed the basis of the
recently released reserve report. Once completed for production, and depending
upon final production test data, the well is expected to add significant Proved
Reserves, production, and cash flow to Range's Texas operations.

Range Executive Director Peter Landau commented that, "The Russell-Bevly #1
exceeds our expectations for the first appraisal well in the North Chapman
Ranch field and sets the stage for additional development drilling across our
acreage. As of casing point, the well was significantly under budgeted costs
and ahead of schedule, indicating that the Company and its joint venture
partners are already capitalizing on information acquired during the initial
test. We will continue to look for ways to optimize drilling and completion
operations in order to keep downward pressure on finding and development
costs".

Well Details

Name of well              Russell Bevly #1                  
                                                            
Spud date                 9 May 2010                        
                                                            
Final total depth         ~14,225 ft (4,337m)               
                                                            
Proposed total depth      ~14,000 ft (4,268m)               
                                                            
RRS working interest      20%                               

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                                          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.

  * 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 215 Bcf of natural gas, 16 mmbbls of oil
    and 15 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) - 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 has
    recently completed a 410km 2D seismic program.
   
The reserves estimate for the North Chapman Ranch Project 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 spe.org as well as in the full Lonquist report on the Range website.