Issue of Equity

ABN 88 002 522 009

Level 3, 1 Havelock Street
West Perth, WA 6005

P [phone]
F [phone]

18 June 2010

Share Placement

Previous to the Company's announcement on 17 June 2010, the Company has now
received commitments for the full $10 million placement amount at A$0.07 (and £
0.04 equivalent) per share, and is issuing a total of 142,857,143 Ordinary
Fully Paid Shares. Application has been made for the new shares to be admitted
to trading on both the ASX and AIM.

Following the issue the Company will have a total of 1,027,042,442 Ordinary
Fully Paid Shares on issue, along with the following options:

64,897,125          Listed Options (RRSOA) (A$1.00, 1 October 2010)            
                                                                               
441,452,742         Listed Attaching Options (RRSO) ($A0.05, 31 December 2011) 
                                                                               
18,845,645          Unlisted Options (A$0.05, 31 Mar 2015)                     
                                                                               
60,000,000          Unlisted Directors Options (A$0.10, 31 Dec 2011)           
                                                                               
3,177,029           Unlisted Options (A$0.50, 30 June 2012)                    

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.
   
  * 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. 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.