Senior Management Appointments

3 March 2014                                         ASX Code: RRS and AIM Code: RRL

                               Range Resources
                          ("Range" or "the Company")

                        Senior Management Appointments

The Board of Range is pleased to announce with immediate effect the
appointment of Dr. Douglas Field as Vice President of Production and Mr.
William Duncan as Vice President of Exploration, both to be based in London.

Dr. Douglas Field, VP of Production

Dr. Douglas Field is a petroleum and reservoir engineer with over
30 years international exploration and production experience. Since 2003, he
has held a number of engineering and business development posts at Tullow Oil
plc, and from 2003-2007 was Group Engineering Manager where he was responsible
for Tullow's petroleum, reservoir, well services, production and facilities
engineers, and from 2007-2012 Business Unit Manager for Tullow's activities in
North and North West Africa. Prior to this he worked in technical leadership
positions for LASMO Grand Maghreb Ltd, Monument Oil and Gas plc, Centrica plc
and BHP Petroleum Ltd. His experience includes running field and production
operations in onshore Libya, Iran, Algeria, Angola and the North Sea. Dr.
Field holds a Ph.D. in Organic Chemistry from the University of Leeds.

Mr. William Duncan, VP of Exploration

Mr. William Duncan is a Geoscientist with over 30 years
international exploration and production experience. Most recently he was VP
of Exploration and Development for Suncor Energy in Calgary where he was
responsible for leading all exploration and commercial activities in Canada,
UK, Norway, Libya and Syria, as well as building technical capabilities in a
team of 250 professionals. Prior to this Mr. Duncan was General Manager for
Suncor in Libya where he led their participation in the Harouge joint venture
production company and started an operated onshore exploration programme. From
2004- 2009 he was Petro-Canada's Regional Manager for Northern Latin America
leading Petro-Canada's asset portfolio and growth in Venezuela and Trinidad,
where he managed the negotiation of PSC's, the drilling of eight offshore
wells in Trinidad and participation in LNG production. Mr. Duncan also has
exploration and business development experience in a wide variety of countries
including Iran, Kuwait, Qatar, the North Sea, and Kazakhstan. Mr. Duncan has
an MSc in Mineral Exploration.

Commenting on today's announcement, Rory Scott Russell, CEO, said:

"As announced earlier this month we originally initiated a
recruitment process for a Chief Operating Officer, however during the
interview process it became clear that bringing in both Douglas Field and
William Duncan together would be truly transformative hires for the Company. I
am therefore delighted to announce their appointments, which further enhance
the Company's senior management team. Their wealth of engineering, geoscience
and commercial experience, particularly in Trinidad, will be invaluable to
Range as we continue to unlock value via our development activities."

"Following the streamlining of our corporate overheads we expect
this to be cost neutral to the group. We are confident that we now have the
core team in place to run the Company and its portfolio of assets in an
efficient and cost-effective manner with the clear objective of delivering
value to our shareholders."

Yours faithfully
Rory Scott Russell
Chief Executive Officer



Contacts

Range Resources Limited            Buchanan (Financial PR - UK)
Rory Scott Russell                 Tim Thompson / Helen Chan
                                   T: [phone]
                                   E: [e-mail]

GMP Securities Europe LLP (Broker) RFC Ambrian Limited (Nominated Advisor)
Richard Greenfield / Rob Collins / Stuart Laing
Alexandra Carse                    T: [phone]
T: [phone]

PPR (Financial PR - Australia)     Dahlman Rose & Company (Principal American Liaison)
David Tasker                       OTCQX International Market (U.S.)
T: [phone]               Christopher Weekes / Stephen Nash
E: [e-mail]         T: [phone]


Range Background

Range Resources Limited is a dual listed (ASX:RRS; AIM:RRL) oil &
gas exploration company with oil & gas interests in Trinidad; Puntland,
Somalia; the Republic of Georgia; Guatemala; Texas, USA, and Colombia.

- In Trinidad Range holds a 100% interest in holding companies with
three onshore production licenses and fully operational drilling subsidiary.
Independently assessed Proved (P1) reserves in place of 17.5 MMBO with 25.2
MMBO of proved, probable and possible (3P) reserves and an additional 81 MMBO
of unrisked prospective resources. Range also has a farm in with Niko
Resources giving it exposure to circa 280,000 acres of prospective onshore and
offshore acreage.

- In the Republic of Georgia, Range holds a 45% farm-in interest in
onshore blocks VIa and VIb, covering approx. 7,000sq.km. The Company is
focussing on a revised development strategy that will focus on low-cost,
shallow appraisal drilling of the contingent resources around the
Tkibuli-Shaori ("Tkibuli") coal deposit, which straddles the central sections
of the Company's two blocks, along with attracting potential farm-in partners
across the license areas given the recent review performed across the
licenses.

- In Puntland, Range holds a 20% working interest in two licenses
encompassing the highly prospective Dharoor and Nugaal valleys. The operator
and 60% interest holder, Horn Petroleum Corp. (TSXV:HRN) has completed two
exploration wells and will continue with a further seismic and well program
over the next 12-18 months.

- Range is earning a 65% (option to move to 75%) interest in highly
prospective licences in the Putumayo Basin in Southern Colombia. Farm–in
interest from a number of parties has been received and preparations for the
seismic programme will be initiated subject to further financing becoming
available.

- Range has taken a strategic stake in Citation Resources Limited (ASX: CTR)
and Latin American Resources (LAR) which hold interest in two oil and gas
development and exploration blocks in Guatemala with Canadian NI 51-101
certified proved plus probable (2P) reserves of 2.3 MMBBL (100% basis). Range
has a direct and indirect 32% interest in the Guatemalan Project.

Table of Reserves and Resources

Detailed below are the estimated reserves for the Range project
portfolio.

                 Gross Oil Reserves  Range's   Net Attributable
Project           1P     2P     3P   Interest   1P     2P    3P  Operator

Oil & NGL - mmbbls

Trinidad          17.5   20.2   25.2     100%   17.5   20.2 25.2 Range

Guatemala            *   2.3*      *      32%      *  0.74*    * Latin American
                                                                 Resources
Total Oil &       17.5   22.5   25.2            17.5   20.9 25.2
Liquids

Gas Reserves - Bcf

Georgia - CBM        -      -    508      45%      -      -  229 Strait Oil & Gas
Total Gas            -      -    508               -      -  203
Reserves

* The reserves estimate for the Guatemalan Blocks in which LAR (and
CTR) have an interest in is as reported by CTR. CTR has not reported 1P and 3P
estimates, but Range is seeking such information from CTR for future reporting
purposes.

Detailed below are the estimated resources and oil-in-place
delineated across Range's portfolio of project interests.

                      Gross Oil Resources  Range's    Net Attributable
Project               Low    Best/   High  Interest  Low    Best/   High  Operator
                             Mean                            Mean

Contingent Oil Resources - mmbbls

Guatemala                 -    20.1      -      32%      -      6.4     - Latin
                                                                          American
                                                                          Resources
Total Contingent          -    20.1      -               -      6.4     -
Resources

Prospective Oil Resources - mmbbls

Trinidad (BM & MD)      8.1    40.5   81.0     100%    8.1     40.5  81.0 Range

Trinidad - Niko JV     20.3   101.5  203.0     40%*    8.1     40.6  81.2 Range
onshore

Trinidad - Niko JV      6.6    33.0   66.0   32.5%*    2.1     10.7  21.5 Range
offshore

Total Prospective      35.0   175.0  350.0            18.3     91.8 183.7
Resources

Undiscovered Oil-In-Place - mmbbls

Puntland               -     16,000   -         20%   -       3,200   -   Horn
                                                                          Petroleum
Georgia                -        403   -         45%   -         181   -   Strait Oil &
                                                                          Gas
Colombia               -        7.8   -      65-75%   -       5.1 -   -   Petro
                                                                5.8       Caribbean

Undiscovered Gas-In-Place - Tcf

Georgia -              -      18.44   -         45%   -        8.30   -   Strait Oil &

Conventional                                                              Gas
Georgia - CBM          -       3.16   -         45%   -        1.42   -   Strait Oil &
                                                                          Gas

*Range's interest in the Niko JV resources are subject to
completing its earn-in obligations.

With the exception of Guatemala, all of the technical information,
including information in relation to reserves and resources that is contained
in this document has been reviewed internally by the Company's technical
advisor, Mr Mark Patterson. Mr Patterson is a petroleum geologist and
geophysicist who is a suitably qualified person with over 30 years' experience
in assessing hydrocarbon reserves and has reviewed the release and consents to
the inclusion of the technical information.

The reserves estimates for the 3 Trinidad blocks have been
formulated by Forrest A. Garb & Associates, Inc. (FGA). FGA is an
international petroleum engineering and geologic consulting firm staffed by
experienced engineers and geologists. Collectively FGA staff has more than a
century of world–wide experience. FGA have consented in writing to the
reference to them in this announcement and to the estimates of oil and natural
gas liquids provided. The definitions for oil and gas reserves are in
accordance with SEC Regulation S–X an 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.

In granting its consent to the public disclosure of this press
release with respect to the Company's Trinidad operations, Petrotrin makes no
representation or warranty as to the adequacy or accuracy of its contents and
disclaims any liability that may arise because of reliance on it.

The TSX certified 51-101 certified reserves with respect to the
Guatemalan project are as reported by ASX listed Company Citation Resources
(ASX: CTR). CTR has not reported 1P and 3P estimates, but Range is seeking
such information from CTR for future reporting purposes.

The prospective resource estimates for the two Dharoor Valley
prospects are internal estimates reported by Africa Oil Corp, the operator of
the joint venture, which are based on volumetric and related assessments by
Gaffney, Cline & Associates.

The technical information included in this Announcement with
respect to Georgia was prepared by Dr. M. Arif Yukler, COO of SOG Georgia. Dr
Yukler is a geologist who is a suitably qualified person with more than 38
years of experience in the international oil & gas industry, and in assessing
hydrocarbon reserves. Dr Yukler has advised companies and government entities
of all size from small caps to super-majors, as well as state regulatory
authorities on the management of resources and exploration areas. Dr. Yukler
has reviewed the release and consents to the inclusion of the technical
information with respect to Georgia.

Reserve information on the Putumayo 1 Well published by Ecopetrol
1987.

SPE Definitions for Proved, Probable, Possible Reserves and
Prospective Resources

Proved Reserves are those quantities of petroleum, which by
analysis of geoscience and engineering data, can be estimated with reasonable
certainty to be commercially recoverable, from a given date forward, from
known reservoirs and under defined economic conditions, operating methods, and
government regulations.

Probable Reserves are those additional Reserves which analysis of
geoscience and engineering data indicate are less likely to be recovered than
Proved Reserves but more certain to be recovered than Possible Reserves.

Possible Reserves are those additional reserves which analysis of
geoscience and engineering data indicate are less likely to be recoverable
than Probable Reserves.

1P refers to Proved Reserves, 2P refers to Proved plus Probable
Reserves and 3P refers to Proved plus Probable plus Possible Reserves.

Prospective Resources are those quantities of petroleum estimated,
as of a given date, to be potentially recoverable from undiscovered
accumulations by application of future development projects. Prospective
Resources have both an associated chance of discovery and a chance of
development. Prospective Resources are further subdivided in accordance with
the level of certainty associated with recoverable estimates assuming their
discovery and development and may be sub-classified based on project maturity.

Contingent Resources are those quantities of hydrocarbons which are
estimated, on a given date, to be potentially recoverable from known
accumulations, but which are not currently considered to be commercially
recoverable.

Undiscovered Oil-In-Place is that quantity of oil which is
estimated, on a given date, to be contained in accumulations yet to be
discovered. The estimated potentially recoverable portion of such
accumulations is classified as Prospective Resources, as defined above.