Rights Issue and Shortfall

ABN 88 002 522 009

Level 3, 1 Havelock Street
West Perth, WA 6005

P [phone]
F [phone]

24 February 2010

Company Announcements

Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000

By E-lodgment

NON-RENOUCEABLE RIGHTS ISSUE AND SHORTFALL

Range Resources Limited ("Range" or "the Company") is pleased to advise that
the Rights Issue has closed fully subscribed with Rights Issue Acceptances and
Shortfall Applications. The Company is in the process of completing the Rights
Issue and Shortfall Allocations.

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.