Conversion of Partly Paid Shares

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]

28 December 2007

                       Conversion of Directors Partly Paid Shares                        
 

Please find attached an Appendix 3B for the Exercise of Directors partly paid 
shares into ordinary fully paid shares.


                                       Appendix 3B                                  

                            New issue announcement, application for 
                      quotation of additional securities and agreement 

Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and may
be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/
2001, 11/3/2002, 1/1/2003.

Name of entity                                                           
                                                                         
RANGE RESOURCES LIMITED                                                  
ABN 88 002 522 009                                                   
                

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough
space).

1   +Class of +securities issued      N/A                                    
    or to be issued                                                      
                                                                         
2   Number of +securities issued      N/A                                    
    or to be issued (if known) or                                        
    maximum number which may be                                          
    issued                                                               
                                                                         
3   Principal terms of the            N/A                                    
    +securities (eg, if options,                                         
    exercise price and expiry                                            
    date; if partly paid                                                 
    +securities, the amount                                              
    outstanding and due dates for                                        
    payment; if +convertible                                             
    securities, the conversion                                           
    price and dates for                                                  
    conversion)                                                          
                                                                         
4   Do the +securities rank           N/A                                    
    equally in all respects from                                         
    the date of allotment with an                                        
    existing +class of quoted                                            
    +securities?                                                         
                                                                         
    If the additional securities                                         
    do not rank equally, please                                          
    state:                                                               
                                                                         
      * the date from which they                                         
        do                                                               
                                                                         
      * the extent to which they                                         
        participate for the next                                         
        dividend, (in the case of                                        
        a trust, distribution) or                                        
        interest payment                                                 
                                                                         
      * the extent to which they                                         
        do not rank equally,                                             
        other than in relation to                                        
        the next dividend,                                               
        distribution or interest                                         
        payment                                                          
                                                                         
5   Issue price or consideration      N/A                                    
                                                                         
6   Purpose of the issue              N/A                                    
                                                                         
    (If issued as consideration                                          
    for the acquisition of                                               
    assets, clearly identify                                             
    those assets)                                                        
                                                                         
7   Dates of entering +securities     N/A                                    
    into uncertificated holdings                                         
    or despatch of certificates                                          
                                                                         
                                  Number            +Class               
                                                                         
8   Number and +class of all        N/A               N/A                  
    +securities quoted on ASX                                            
    (including the securities in                                         
    clause 2 if applicable)                                              
                                                                         
                                  Number            +Class               
                                                                         
9   Number and +class of all        N/A               N/A                  
    +securities not quoted on ASX                                        
    (including the securities in                                         
    clause 2 if applicable)                                              
                                                                         
10  Dividend policy (in the case    N/A                                    
    of a trust, distribution                                             
    policy) on the increased                                             
    capital (interests)                                                  

Part 2 - Bonus issue or pro rata issue

11   Is security holder approval            N/A                              
     required?                                                             
                                                                           
12   Is the issue renounceable or           N/A                              
     non-renounceable?                                                     
                                                                           
13   Ratio in which the +securities will    N/A                              
     be offered                                                            
                                                                           
14   +Class of +securities to which the     N/A                              
     offer relates                                                         
                                                                           
15   +Record date to determine              N/A                              
     entitlements                                                          
                                                                           
16   Will holdings on different registers   N/A                              
     (or subregisters) be aggregated for                                   
     calculating entitlements?                                             
                                                                           
17   Policy for deciding entitlements in    N/A                              
     relation to fractions                                                 
                                                                           
18   Names of countries in which the        N/A                              
     entity has +security holders who                                      
     will not be sent new issue documents                                  
                                                                           
     Note: Security holders must be told                                   
     how their entitlements are to be                                      
     dealt with.                                                           
                                                                           
     Cross reference: rule 7.7.                                            
                                                                           
19   Closing date for receipt of            N/A                              
     acceptances or renunciations                                          
                                                                           
20   Names of any underwriters              N/A                              
                                                                           
21   Amount of any underwriting fee or      N/A                              
     commission                                                            
                                                                           
22   Names of any brokers to the issue      N/A                              
                                                                           
23   Fee or commission payable to the       N/A                              
     broker to the issue                                                   
                                                                           
24   Amount of any handling fee payable     N/A                              
     to brokers who lodge acceptances or                                   
     renunciations on behalf of +security                                  
     holders                                                               
                                                                           
25   If the issue is contingent on          N/A                              
     +security holders' approval, the                                      
     date of the meeting                                                   
                                                                           
26   Date entitlement and acceptance form   N/A                              
     and prospectus or Product Disclosure                                  
     Statement will be sent to persons                                     
     entitled                                                              
                                                                           
27   If the entity has issued options,      N/A                              
     and the terms entitle option holders                                  
     to participate on exercise, the date                                  
     on which notices will be sent to                                      
     option holders                                                        
                                                                           
28   Date rights trading will begin (if     N/A                              
     applicable)                                                           
                                                                           
29   Date rights trading will end (if       N/A                              
     applicable)                                                           
                                                                           
30   How do +security holders sell their    N/A                              
     entitlements in full through a                                        
     broker?                                                               
                                                                           
31   How do +security holders sell part     N/A                              
     of their entitlements through a                                       
     broker and accept for the balance?                                    
                                                                           
32   How do +security holders dispose of    N/A                              
     their entitlements (except by sale                                    
     through a broker)?                                                    
                                                                           
33   +Despatch date                         N/A                              

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of
securities

34    Type of securities                                                       
                                                                               
      (tick one)                                                               
                                                                               
(a)         Securities described in Part 1                                     
                                                                               

(b)   All other securities                                             
                                                                       
      Example: restricted securities at the end of the escrowed period,
      partly paid securities that become fully paid, employee incentive
      share securities when restriction ends, securities issued on     
      expiry or conversion of convertible securities                   

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the                                         
information or documents                                                       

35         If the +securities are +equity securities, the names of the 20  
           largest holders of the additional +securities, and the number   
           and percentage of additional +securities held by those holders  
                                                                           
36         If the +securities are +equity securities, a distribution       
           schedule of the additional +securities setting out the number of
           holders in the categories                                       
                                                                           
           1 - 1,000                                                       
                                                                           
           1,001 - 5,000                                                   
                                                                           
           5,001 - 10,000                                                  
                                                                           
           10,001 - 100,000                                                
                                                                           
           100,001 and over                                                
                                                                           
37         A copy of any trust deed for the additional +securities         

Entities that have ticked box 34(b)

38   Number of securities for which          3,750,000 Ordinary Fully Paid    
     +quotation is sought                    Shares                           
                                                                           
39   Class of +securities for which          Ordinary Fully Paid Shares       
     quotation is sought                                                   
                                                                           
40   Do the +securities rank equally in      yes                              
     all respects from the date of                                          
     allotment with an existing +class of                                  
     quoted +securities?                                                   
                                                                           
     If the additional securities do not                                   
     rank equally, please state:                                           
                                                                           
       * the date from which they do                                       
                                                                           
       * the extent to which they                                          
         participate for the next                                          
         dividend, (in the case of a                                       
         trust, distribution) or interest                                  
         payment                                                           
                                                                           
       * the extent to which they do not                                   
         rank equally, other than in                                       
         relation to the next dividend,                                    
         distribution or interest payment                                  
                                                                           
41   Reason for request for quotation now    End of expiry of partly paid     
                                             shares                           
     Example: In the case of restricted                                    
     securities, end of restriction                                        
     period                                                                
                                                                           
     (if issued upon conversion of                                         
     another security, clearly identify                                    
     that other security)                                                  
                                                                           
                                             Number            +Class                  
                                                                           
42   Number and +class of all +securities    199,190,024      Ordinary fully  
     quoted on ASX (including the                             paid shares     
     securities in clause 38)                66,094,173                       
                                                              Options ($1.00, 
                                                              1 October 2010) 

 1. Quotation agreement
   
1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX
may quote the +securities on any conditions it decides.

2 We warrant the following to ASX.

• The issue of the +securities to be quoted complies with the law and is not
for an illegal purpose.

• There is no reason why those +securities should not be granted +quotation.

• An offer of the +securities for sale within 12 months after their issue will
not require disclosure under section 707(3) or section 1012C(6) of the
Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for
the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any
applications received by us in relation to any +securities to be quoted and
that no-one has any right to return any +securities to be quoted under sections
737, 738 or 1016F of the Corporations Act at the time that we request that the
+securities be quoted.

• We warrant that if confirmation is required under section 1017F of the
Corporations Act in relation to the +securities to be quoted, it has been
provided at the time that we request that the +securities be quoted.

• If we are a trust, we warrant that no person has the right to return the
+securities to be quoted under section 1019B of the Corporations Act at the
time that we request that the +securities be quoted.

3 We will indemnify ASX to the fullest extent permitted by law in respect of
any claim, action or expense arising from or connected with any breach of the
warranties in this agreement.

4 We give ASX the information and documents required by this form. If any
information or document not available now, will give it to ASX before
+quotation of the +securities begins. We acknowledge that ASX is relying on the
information and documents. We warrant that they are (will be) true and
complete.

Sign here:

Date: 28 December 2007

Print name: PETER LANDAU,

COMPANY SECRETARY/ EXECUTIVE DIRECTOR

                                == == == == ==                                 

www.rangeresources.com.au

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