DRILLING UPDATE – SMITH #1 WELL, TEXAS

ASX Announcement

23 October 2009

                    DRILLING UPDATE - SMITH #1 WELL, TEXAS                     

Update by Australian based oil and gas explorer Range Resources Limited (ASX:
RRS; AIM: RRL) ("Range" or "the Company") on its exploration drilling program
in the North Chapman Ranch area, Texas.

Smith #1 well, North Chapman Ranch

The exploration well Smith #1 spudded on 4 September 2009. Surface casing was
set and cemented at 1,528 ft (465m) and the well was subsequently drilled to
the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were
acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly
thereafter.

Name of well              Smith #1                          
                                                            
Spud date                 4 September 2009                  
                                                            
Current depth             ~12,476 ft (3,803m)               
                                                            
Proposed total depth      ~14,200 ft (4,329m)               
                                                            
RRS beneficial interest   25%                               


Figure 1: Unit Texas Rig #35 drilling ahead on Smith #1 well - please see website. 


Background on North Chapman Ranch

Range holds a 25% working interest in the drilling of Smith #1 well. The well
shall be drilled to an approximate depth of 14,200 ft (4,329m) or to a depth
sufficient to test the Howell Hight formation. If successful, the Smith #1 well
could trigger significant oil and gas production and development drilling with
very attractive economics, at a time when exploration and development costs in
the US have dropped dramatically.

Range will continue to update the market on a weekly basis during its
exploration drilling program.

End


For further information please contact:

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]