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Range Resources LTD
Georgia & Trinidad Update

28 July 2011

The Manager
Company Announcements
Australian Securities Exchange Limited
Level 6, 20 Bridge Street
Sydney NSW 2000

By e-lodgement

COMPANY UPDATE

Georgia Drilling

International oil and gas exploration, development and production company,
Range Resources Limited ("Range" or "the Company") along with its joint venture
partners, Strait Oil and Gas ("Strait") and Red Emperor Resources ("Red Emperor
") (ASX/AIM: RMP) is pleased to announce that following the successful spudding
of the Mukhiani 1 well earlier this month, the well is currently at 510m.

As was expected in the early stages of drilling, progress was relatively slow,
however the Company is pleased to report that the last few days has seen
drilling progress as planned with the lithology encountered being in line with
expectations (derived from seismic interpretations and analysis). It is
anticipated that drilling will continue to circa 700m after which casing will
be set and logging performed.

The Mukhiani Well is targeting the Vani 3 prospect which has the following
estimated undiscovered stock tank oil-in-place ("STOIIP"):

Vani 3 Prospect - STOIIP (MMbbls)

P90 P50 P10 Mean

Gross (100%) 41.7 92.7 178.2 115.2

Net Attributable to Range (40%) 16.7 37.1 71.3 46.1

The recently completed geochemical helium survey undertaken by Range confirmed
the suitability of the first drill location with oil exploration and
development prospectivity complementing the earlier seismic work completed on
the target.

The Company will continue to provide updates on a 7-10 day basis as to the
progress of the drilling of the Mukhiani well.

Trinidad - Drilling Program Commencing

Range would also like to announce that in less than 2 months from the
acquisition of 100% of the Trinidad assets, the Company has commenced its 21
development well program utilizing 3 of the Company's rigs and is targeting an
increase in production to between 1,400-1,800 bopd, an increase and
reclassification of reserves along with extending the limits of the existing
fields.

Rig 1 was recently inspected and re-certified for drilling by the Ministry of
Energy and has been mobilized to spud in the coming days, Rig 2 is due for
inspection and re-certification this week, soon followed by Rig 3, with both
then immediately mobilized to join Rig 1 in the development well program.

Range Executive Director Peter Landau commented, "The Company is extremely
pleased at the swift progress made since acquiring the Trinidad assets, with
the operational team in Trinidad now being able to look to maximize the
potential of the assets, something they have wanted to progress for a number of
years but were restrained through a lack of capital earmarked for development."

The Company will continue to provide updates on a regular basis as to the
progress of the development well drilling program on its Trinidad assets.

Yours faithfully


Peter Landau
Executive Director

Contacts

Range Resources
Peter Landau
Tel : +61 (8) 8 9488 5220
Em: plandau@rangeresources.com.au

Australia London
PPR Tavistock Communications
David Tasker Ed Portman/Paul Youens
Tel: +61 (8) 9388 0944 Tel: + 44 (0) 20 7920 3150
Em: david.tasker@ppr.com.au Em: eportman@tavistock.co.uk

RFC Corporate Finance (Nominated Advisor) Old Park Lane Capital (Broker)
Stuart Laing Michael Parnes
Tel: +61 (8) 9480 2500 Tel: +44 (0) 207 493 8188

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, Texas, USA and Trinidad.

* 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 (on a mean 100% basis) of 240 Bcf of natural
gas, 18 mmbbls of oil and 17 mmbbls of natural gas liquids.

* Range holds a 21.75% interest in the East Texas Cotton Valley Prospect in
Red River County, Texas, USA, with the prospect's project area encompasses
approximately 1,570 acres encompassing a recent oil discovery.
Independently assessed gross recoverable reserves in place (on a mean 100%
basis) of 5.4 Mmbbls of oil.

* In Puntland, Range holds a 20% working interest in two licences
encompassing the highly prospective Dharoor and Nugaal valleys with the
operator and 45% interest holder, Africa Oil Corp (TSXV: AOI) planning to
drill two wells in 2011.

* In the Republic of Georgia, Range holds a 40% farm-in interest in onshore
blocks VIa and VIb, covering approx. 7,000sq.km. Currently, Range has
recently completed a 410km 2D seismic program with independent consultants
RPS Energy identifying 68 potential structures containing and estimated 2
billion barrels of oil-in-place (on a mean 100% basis) with the first of
two exploration wells to be drilled in 2011.

* In Trinidad Range recently completed the acquisition of a 100% interest in
holding companies with three onshore production licenses and fully
operational drilling subsidiary. Independently assessed gross recoverable
3P reserves in place of 6.9MMbls (on a mean 100% basis).

The reserves estimate for the North Chapman Ranch Project and East Texas Cotton
Valley 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.

The reserves estimates for the 3 Trinidad blocks referred above 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
worldwide 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 SX.

RPS Group is an International Petroleum Consulting Firm with offices worldwide,
who specialise in the evaluation of resources, and have consented to the
information with regards to the Company's Georgian interests in the form and
context that they appear. These estimates were formulated in accordance with
the guidelines of the Society of Petroleum Engineers ("SPE").

COMPANY UPDATE

Georgia Drilling

International oil and gas exploration, development and production company,
Range Resources Limited ("Range" or "the Company") along with its joint venture
partners, Strait Oil and Gas ("Strait") and Red Emperor Resources ("Red Emperor
") (ASX/AIM: RMP) is pleased to announce that following the successful spudding
of the Mukhiani 1 well earlier this month, the well is currently at 510m.

As was expected in the early stages of drilling, progress was relatively slow,
however the Company is pleased to report that the last few days has seen
drilling progress as planned with the lithology encountered being in line with
expectations (derived from seismic interpretations and analysis). It is
anticipated that drilling will continue to circa 700m after which casing will
be set and logging performed.

The Mukhiani Well is targeting the Vani 3 prospect which has the following
estimated undiscovered stock tank oil-in-place ("STOIIP"):

Vani 3 Prospect - STOIIP (MMbbls)

P90 P50 P10 Mean

Gross (100%) 41.7 92.7 178.2 115.2

Net Attributable to Range (40%) 16.7 37.1 71.3 46.1

The recently completed geochemical helium survey undertaken by Range confirmed
the suitability of the first drill location with oil exploration and
development prospectivity complementing the earlier seismic work completed on
the target.

The Company will continue to provide updates on a 7-10 day basis as to the
progress of the drilling of the Mukhiani well.

Trinidad - Drilling Program Commencing

Range would also like to announce that in less than 2 months from the
acquisition of 100% of the Trinidad assets, the Company has commenced its 21
development well program utilizing 3 of the Company's rigs and is targeting an
increase in production to between 1,400-1,800 bopd, an increase and
reclassification of reserves along with extending the limits of the existing
fields.

Rig 1 was recently inspected and re-certified for drilling by the Ministry of
Energy and has been mobilized to spud in the coming days, Rig 2 is due for
inspection and re-certification this week, soon followed by Rig 3, with both
then immediately mobilized to join Rig 1 in the development well program.

Range Executive Director Peter Landau commented, "The Company is extremely
pleased at the swift progress made since acquiring the Trinidad assets, with
the operational team in Trinidad now being able to look to maximize the
potential of the assets, something they have wanted to progress for a number of
years but were restrained through a lack of capital earmarked for development."

The Company will continue to provide updates on a regular basis as to the
progress of the development well drilling program on its Trinidad assets.

/

.

This is so being held back when you look at the buy v sell ratio.

Been going on for weeks now.

Thinking the same myself, don't know what they are playing at - should be well in the blue and not red wouldn't you say?

.

RANGE RESOURCES LTD 15.375p
Trinidad and Georgia update 28 July 2011
=
Range has announced that the Mukhiani-1 exploration well in Georgia is progressing as expected. The well
has reached a depth of 510m and the company will continue drilling to approximately 700m after which casing
will be set and logging performed. Meanwhile, in Trinidad, Range has already commenced a 21 well
development programme to target an increase in production to over 1,400bopd. This is more than double the
current output.
Range spudded the Mukhiani-1 exploration well in Georgia on 14 July. As expected, the early stages of drilling
were relatively slow. However, the lithology encountered in the well is in line with expectations derived from
initial analysis and seismic interpretations. We anticipate that drilling will continue to a depth of approximately
700m, at which point Range will set casing and perform well logs.
As outlined in previous announcements, the Mukhiani-1 well is targeting the Vani 3 prospect which has a best
estimate of 115mmbbls of oil in place (46mmbbls attributable to Ranges 40% interest). Red Emperor
Resources (AIM: RMP) also has a 20% interest in Mukhiani-1 with 23mmbbls attributable to its interest.
In Trinidad, Range has commenced a 21 well development programme less than two months after the
acquisition of the assets. Range will use three of the companys rigs to execute a programme targeting an
increase of production from a current level of approximately 600bopd to between 1,400bopd and 1,800bopd.
This programme has the potential to increase reserves and move a significant proportion of P3 and P2
reserves into P2 and P1 categories respectively as drilling gathers momentum. Of the three rigs being utilised,
Rig 1 has been inspected and re-certified for drilling by the Ministry of Energy in Trinidad and has been
mobilised to spud imminently. Rig 2 will undergo the same procedure this week followed by Rig 3.
Range has made huge progress in Trinidad in a very short time and we anticipate that sustained drilling
activity will provide positive news flow over the coming months. Similarly, with exploration drilling continuing
apace in Georgia, Range is likely keep the market updated on a 7-10 day basis. Ranges diversified portfolio
strategy is looking increasingly attractive and we retain our valuation of 27.8p* for the fully diluted equity.
*(This number differs slightly from out last published valuation purely as a function of a stronger Sterling/USD exchange rate since early July)
Recommendation BUY
Sector: Oil & Gas
Exchange & Ticker: AIM: RRL
ASX: RRS
Shares in issue: 1,706.9m
Fully diluted equity: 2,011.6m
Market cap: 262.4m
Target price: 27.8p
ANALYST: Barney Gray
+44(0)20 7518 2607
bg@oldplc.com
CORPORATE BROKING: Luca Tenuta
+44(0)20 7518 2603
lt@oldplc.com
A marketing communication from Old Park Lane Capital, broker to Range Resources Ltd
============lia=m^oh=i^kb=`^mfq^iH=
= lia=m^oh=i^kb=`^mfq^i=mi`=====QV=_bohbibv=pnr^obI=ilkalk=tNg=R^w=====qW=HQQ=EMFOM=TQVP=UNUU====cW=HQQ=EMFOM=TQVP=PRTS===tK=tttKliami`K`lj=
DISCLOSURES AND RISK WARNING
The recommendation system used for this research is as follows. We expect the indicated target price relative to the FT
All Share Index to be achieved with 12 months on the date of this publication. A Hold indicates expected performance
relative to this index of +/-10%, a Buy indicates expected outperformance of >10% and a Sell indicates
underperformance of >10%.
This Marketing Communication is provided for information purposes only. It does not constitute a personal
recommendation and should not be construed as an offer or solicitation for investment. This publication is not intended to
be an offer to buy or sell any securities of any of the companies referred to herein and any opinions expressed are subject
to change without notice. Recommendations may not be suitable for all recipients of this publication and if you have any
doubt you should seek advice from a financial adviser. Except for any liability owed under FSMA 200 or the regulatory
system, Old Park Lane Capital plc (OPL) accepts no liability for any losses which may be incurred by the client acting on
such recommendation
Companies mentioned in this research/document may be corporate finance clients of OPL. The analyst(s) responsible for
this document may receive compensation based either directly or indirectly on profits derived from fund management
activities. OPL its directors and employees may have a position or holding in any of the above investments or in a related
investment, therefore OPL is not holding out this research as being impartial or objective as defined by the FSA Conduct
of Business Rule 7.16.5, as set out in our conflicts of interest policy and procedures
This document has been prepared, approved and issued by OPL on the basis of publicly available information, internally
developed data and other sources believed to be reliable. All reasonable care has been taken to ensure the facts stated
and opinions given are fair and not knowingly misleading in whole or part. Prices and factual details are deemed to be
correct at the time of publication. However, OPL offers no guarantee as to the accuracy or completeness of any such
information or data. The views expressed are as at the date stated and are subject to change at any time
There is an extra risk of losing money when shares are bought in some smaller companies including aim, sometimes
alternatively known as penny shares. There can be a big difference between the buying price and the selling price of
these shares. If they have to be sold immediately, you may get back much less than you paid for them. The price may
change quickly and it may go down as well as up. Past performance of investments referred to above is not necessarily a
guide to future performance and the value of the investment may go down as well as up. Some investments are not
readily realisable and investors may have difficulty in selling or realising the investment or obtaining reliable information
on the value or risks associated with the investment.
This publication may not be reproduced or copies circulated without authority.
Old Park Lane Capital plc is a member of the London Stock Exchange and is authorised and regulated by the Financial
Services Authority. (FSA no. 477870). Registered address: 49 Berkeley Square, Mayfair, London, W1J 5AZ.

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/

Oh deary deary me, down it goes, slowly but surely, so has an awful lot more so not to worry for now. Have a good weekend all.

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Quarterly Report as at 30 June 2011

Announced by: RRS
Announced on: 01/08/2011 08:31:00
Words: 9197
Status: Market sensitive (Y)
View original PDF


--------------------------------------------------------------------------------
Australia Ground Floor, 1 Havelock Street, West Perth WA 6005, Australia t:+61 8 9488 5220, f:+61 8 9324 2400 e:admin@rangeresources.com.au London 5thFloor, 23 King Street, St. James House, London SW1 6QY t:+44 207 389 0588, f:+44 207 930 2501 29 July 2011

QUARTERLY REPORT FOR PERIOD ENDING 30 JUNE 2011 Issued Capital 1,707 M* ASX Code RRS Closing price $0.23* AIM Code RRL Closing Price 0.16 * Market Cap A$395m* * as at 30 June 2011 Gross Production for the Quarter Gas 440k mcf Range Interest 95k mcf Oil 36,718 bbls Range Interest 7,863 bbls The Board of Range Resources Limited ("Range" or "the Company") is pleased to provide the
following commentary to be read in conjunction with the Appendix 5B (Quarterly Cash Flow Report)
which is attached. Trinidad During the quarter, the Company completed the acquisition of a 100% ownership interest, through
SOCA Petroleum, in the holding and subsidiary companies that hold three production licences in
producing onshore oilfields in Trinidad and significant local onshore drilling operations. The production acreage and operating wells cover the Morne Diablo, Beach Marcelle and South
Quarry oilfields, with the total acreage covering 16,253 gross acres on the southern coast of onshore
Trinidad. Current production from the fields is 600-700 bopd, however Range believes a minimal
work program could lift production to more than 4,000 bopd within 24-36 months on the known
reserves. In addition to the production licences for theonshore acreage, the Range acquisition also included a 100% interest in a wholly owned drilling company (located in Trinidad), which owns 5 onshore drill
rigs, 3 production rigs, 1 swab rig, storage tanks, a pipe yard and operating facilities that include a
workshop and a fabrication welding machine shop. Over and above the known reserves, significant potential exists in the deeper Herrera Formation
(refer below). The Deeper Herrera Formation will be a primary target of future exploration drilling
using company-owned drilling rigs, which are capable of reaching the depth of these formations.
Subject to the successful drill testing of this formation, the Company is ultimately targeting an
increase in the production levels to between 8,000 10,000 bopd. An independent recoverable reserves assessment by Forrest A. Garb & Associates1(completed early 2010) has provided the following certified Reserves and Resources for the 3 blocks (note: the report
does not provide an assessment of the Deeper Herrera Formations referred to above). Oil and Condensate (MMbbl) (100%) Recoverable Proved Reserves* 2.6 Probable Reserves 2.2 Possible Reserves 2.1 Total Reserves (3P)* 6.9 Prospective Resources (Undeveloped) 20 *Net Reserves take into account payment of government royalty and overriding revenue interests. The planned production doesn't take into account exploration upside with significant potential from
the deeper `Herrera Formations' which host substantial producing reserves on adjacent blocks, with
10 Herrera Formation Targets already mapped with extensive 3D Seismic existing on SOC 's three
onshore licences.
Subsequent to quarter-end, in less than 2 months from the acquisition of 100% of the Trinidad
assets, the Company has commenced its 21 development well program utilizing 3 of the Company's
rigs and is targeting an increase in production to between 1,400-1,800 bopd, and an increase and
reclassification of reserves along with extending the limits of the existing fields. Rig 1 was recently inspected and re-certified for drilling by the Ministry of Energy and has been
mobilized to spud in the coming days, Rig 2 is due for inspection and re-certification this week, soon
followed by Rig 3, with both then immediately mobilized to join Rig 1 in the development well
program. Figure 1 Range owned rig in Trinidad Figure 2 Workshop operations in Trinidad Georgia During the quarter, the Company, along with its joint venture partners, Strait Oil & Gas (UK) Limited
("Strait") and Red Emperor Resources NL ("Red Emperor") commenced mobilisation in readiness for the spudding the joint venture's first highly prospective exploration well Mukhiani in Block Vla in Georgia. The Mukhiani Well is targeting the Vani 3 prospect which has the following estimated potential
undiscovered stock tank oil initially-in-place ("STOIIP"):: Vani 3 Prospect undiscovered STOIIP* (MMbbls) P90 P50 P10 Mean Gross 41.7 92.7 178.2 115.2 Net Attributable to Range (40%) 16.737.1 71.3 46.1 *STOIIP shown here assumes that the Vani 3 Prospect contains 3 stacked reservoirs based on current stratigraphic
understanding. Any given well may encounter 1, 2, or 3 such potential reservoirs depending on the degree of relative
uplift and/or erosion at any given Prospect location. The recently completed geochemical helium survey undertaken by Range confirmed the suitability of
the first drill location with oil exploration and development prospectivity complementing the earlier
seismic work completed on the target. Subsequent to quarter-end the rig arrived in country and on site and successfully spudded mid-July.
As recently announced, the Mukhiani 1 well was progressing as planned with the lithology
encountered being in line with expectations (derived from seismic interpretations and analysis) with
the aim to reach 700m before casing would be set and logging performed. Following the successful completion of the Mukhiani 1 well, the rig will then move on to spud the
Company's second exploration well as part of the two well highly prospective drilling program in
Georgia.
Figure 3 Drilling Rig on the Mukhiani Well site
Puntland During the quarter, Range's joint venture partner and Operator of the Puntland joint ventures, Africa Oil
Corp. (" frica Oil") announced the execution of a letter of intent with a drilling subcontractor paving the
way for the mobilisation and drilling of the first milestone well in Q3 2011. Africa Oil continues with
close negotiations with the Puntland Government on various items in readiness for this historic well. Range has agreed with its joint venture partner and operator Africa Oil that the second exploration
well, will be included as part offrica Oil's exploration commitments under the Joint VentureAgreement between Range and Africa Oil. Under this agreement, Africa Oil is obliged to spend US$22.5m in both Dharoor and Nugaal before
Range reverts to a contributing basis. Africa Oil has satisfied its commitments with respect to Dharoor, however to date, still has circa
US$15m of expenditure commitments on Nugaal, with expenditure to date on Nugaal being circa
US$7.5m. With the second well being able to satisfy the joint ventures obligations under the Nugaal
PSA, Range will be carried for the first US$15m spent on the well. Africa Oil is continuing with finalising the appointment of drilling contractors and it is Range's
expectation that the appointment will occur shortly allowing mobilisation to commence for the well
in Dharoor during Q3 2011. Texas North Chapman Ranch As reported above, production for the quarter was 95k mcf of gas and 7,863 barrels of oil net to
Range, which was a significant increase from the previous quarter as a result of the successful
fracture stimulation of both the Smith # 1 and Russell Bevly wells. Since the fracture stimulation jobs
were initiated on these two wells, gross combined rates from the field hit a high of 9.3 MMcf of gas
and 800 bbl of oil per day during the month of March. During the quarter, remedial work was
performed on the Company's Smith #1 well with production tubing being installed and subsequently
completed, with the Smith #1 well back online. In addition to the two existing wells in the field, Operator Western Gulf Oil & Gas reports that it has
signed a contract for a drilling rig to drill a third well in the field, currently scheduled for mid-
October. The contract for the rig provides Range and its partners with an option to drill a follow up
well, with no penalty if a second well is not drilled. Discussions as to the location of a second 2011
well (Range's fourth in the project) are currently underway. As previously reported, the successful drilling of the third and fourth wells on North Chapman will
look to reclassify the Company's reserves from the possible category to the higher confidence
proved and probable category.Leading Petroleum Consultants, Lonquist & Co LLC's independent reserves report has estimated the
following gross commercially recoverable reserves from the North Chapman Ranch Field:


Category Natural Gas (Bcf) Oil (Mmbbls) Natural Gas Liquids (Mmbbls) Proved (P1) 62.4 4.8 4.5 Probable (P2) 34.6 2.7 2.5 Possible (P3) 142.5 10.9 10.3 Total Reserves 239.5 18.4 17.3
Set out below is Range's attributable interest in the gross recoverable reserves on 25% of the Smith
#1 well and on 20% of the remaining wells assuming the exercise of certain clawback provisions by
joint venture partners occurs following the success of the Smith #1 and Russell-Bevly wells:


Category Natural Gas (Bcf) Oil (Mmbbls) Natural Gas Liquids (Mmbbls) Proved (P1) 12.7 1.0 0.9 Probable (P2) 6.9 0.5 0.5 Possible (P3) 28.5 2.2 2.1 Total Reserves 48.1 3.7 3.5
East Texas Cotton Valley Prospect In the Company's East Texas Cotton Valley project, the Company successfully reached target depth
on the Ross 3H well at a total measured depth of 8,900 ft. and set casing to this total depth.
Completion work was then commenced and continues with open hole logs, sidewall cores, and mud
logs all indicating good porosity and oil saturation throughout the approximately 3,400 ft. horizontal
section. Prior to initiating hydraulic fracturing operations in the reservoir section, the Operator of the project
perforated two sections near the northern terminus of the lateral and swabbed in fluids in order to
confirm oil productivity. In both cases, swabbing runs yielded water. Because the project area is
adjacent to an oil field that is currently undergoing water injection as part of a secondary recovery
effort (water flooding), there is a strong likelihood that neighboring operations have pushed injected
water into the Company's acreage. Water samples are currently being analyzed to determine
whether or not this is the case. Regardless of the outcome of the tests, over 2,250 feet of horizontal
section remain to be tested before final results are known. Range remains optimistic about the probability of success in East Texas. Added Pete Landau, Range's
Executive Director, "The Ross 3H is a direct offset to a known producing well and has a horizontal
section that terminates near a well that has produced over 70,000 barrels to date. We have every
reason to believe that the Ross will be successfully completed as a producer. In the meantime,
Range, along with its partners, is taking the proper steps to identify the source of the water in order
to adjust the Ross 3H completion and its development drilling program going forward". Lonquist & Co LLC's independent reserves report has estimated the following gross commercially
recoverable oil reserves from the East Texas Cotton Valley Prospect (operated by Range's private US
partner): Oil (Mmbbls)
Reserves Category Gross (100%) Net Attributable to Range
(21.75%) Proved (P1) 1.5 0.33 Probable (P2) 1.2 0.26 Possible (P3) 2.7 0.59 Total Reserves 5.4 1.18 Corporate During the quarter the Company successfully completed a capital raising net the Company $49m
before costs with the majority of the money used for the acquisition of the 100% interest in the
Trinidad assets as referred to above. The Company also raised $1.1m through the exercise of
options. Yours faithfully





Peter Landau
Executive Director
Contacts Range Resources Peter Landau
Tel : +61 (8) 8 9488 5220 Em: plandau@rangeresources.com.au
Australia London PPR Tavistock Communications David Tasker Ed Portman/Paul Youens Tel: +61 (8) 9388 0944 Tel: + 44 (0) 20 7920 3150 Em: david.tasker@ppr.com.auEm: eportman@tavistock.co.uk
RFC Corporate Finance (Nominated Advisor) Old Park Lane Capital (Broker) Stuart Laing Michael Parnes Tel: +61 (8) 9480 2500 Tel: +44 (0) 207 493 8188

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, Texas, USA and Trinidad. 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 (on a mean 100% basis) of 240 Bcf of natural gas, 18 mmbbls of oil and 17
mmbbls of natural gas liquids. Range holds a 21.75% interest in the East Texas Cotton Valley Prospect in Red River County,
Texas, USA, with the prospect's project area encompasses approximately 1,570 acresencompassing a recent oil discovery. Independently assessed gross recoverable reserves in place
(on a mean 100% basis) of 5.4 Mmbbls of oil. In Puntland, Range holds a 20% working interest in two licences encompassing the highly
prospective Dharoor and Nugaal valleys with the operator and 45% interest holder, Africa Oil
Corp (TSXV: AOI) planning to drill two wells in 2011. In the Republic of Georgia, Range holds a 40% farm-in interest in onshore blocks VIa and VIb,
covering approx. 7,000sq.km. Currently, Range has recently completed a 410km 2D seismic
program with independent consultants RPS Energy identifying 68 potential structures containing
and estimated 2 billion barrels of oil-in-place (on a mean 100% basis) with the first of two
exploration wells to be drilled in 2011 having spud in July. In Trinidad Range recently completed the acquisition of a 100% interest in holding companies
with three onshore production licenses and fully operational drilling subsidiary. Independently
assessed gross recoverable 3P reserves in place of 6.9MMbls (on a mean 100% basis). The reserves estimate for the North Chapman Ranch Project and East Texas Cotton Valley 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. The reserves estimates for the 3 Trinidad blocks referred above 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 worldwide experience. FG 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 SX. RPS Group is an International Petroleum Consulting Firm with offices worldwide, who specialise in the evaluation of resources, and have
consented to the information with regards to the Company's Georgian interests in the form and context that they appear. These estimates
were formulated in accordance with the guidelines of the Society of Petroleum Engineers ("SPE"). The reserves estimate for the North Chapman Ranch Project and East Texas Cotton Valley 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. The reserves estimates for the 3 Trinidad blocks referred above 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 worldwide 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 SX. RPS Group is an International Petroleum Consulting Firm with offices worldwide, who specialise in the evaluation of resources, and have
consented to the information with regards to the Company's Georgian interests in the form and context that they appear. These estimates
were formulated in accordance with the guidelines of the Society of Petroleum Engineers ("SPE"). Forward Looking Statements Certain statements contained in this announcement, including information as to the future financial or operating
performance of Range Resources Limited and its projects, are forwardlooking statements. Such forwardlooking
statements: -are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Range Resources Limited, are inherently subject to significant technical, business, economic, competitive, political and
social uncertainties and contingencies; -involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forwardlooking statements; and -may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices operating costs production prices, and results, capital expenditures, reserves and resources
and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical,
economic, market, political, social and other conditions. Range Resources Limited disclaims any intent or obligation to update publicly any forwardlooking statements, whether as
a result of new information, future events or results or otherwise. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget",
"estimate", "may", "will", "schedule" and similar expressions identify forwardlooking statements. All forwardlooking statements made in this presentation are qualified by the foregoing cautionary statements. Investors
are cautioned that forwardlooking statements are not guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forwardlooking statements due to the inherent uncertainty therein Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms.

30/9/2001 Appendix 5B Page 1 Rule 5.3 Appendix 5B Mining exploration entity quarterly report Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity RANGE RESOURCES LIMITED ABN Quarter ended ("current quarter") 88 002 522 009 30 June 2011 Consolidated statement of cash flows
Cash flows related to operating activities
Current quarter $ '000 Year to date
(12 months) ($ '000)
1.1
Receipts from product sales and related debtors
759 1,814 1.2 Payments for (a) exploration & evaluation
(b) development (c) production (d) administration (3,512) (188)
(447) (2,212) (19,656) (2,515)
(1,069)
(4,672) 1.3 Dividends received - - 1.4 Interest and other items of a similar nature
received 170 400 1.5 Interest and other costs of finance paid (278) (453) 1.6 Income taxes paid - - 1.7 Other (provide details if material) - -
Net Operating Cash Flows (5,708) (26,151)
Cash flows related to investing activities 1.8 Payment for purchases of:
(a) prospects (b) equity investments (c) other fixed assets (48,504) (380) - (51,108) (380) - 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets -
-
- -
-
- 1.10 Loans to other entities - - 1.11 Loans repaid by other entities - - 1.12 Other (provide details if material) - -
Net investing cash flows (48,884) (51,488) 1.13 Total operating and investing cash flows (carried
forward) (54,592) (77,639) Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.

Appendix 5B Page 2 30/9/2001 1.13 Total operating and investing cash flows (brought
forward) (54,592) (77,639)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 51,045 90,640 1.15 Proceeds from sale of forfeited shares - - 1.16 Proceeds from borrowings - - 1.17 Repayment of borrowings - - 1.18 Dividends paid - - 1.19 Other (provide details if material) (2,720) (3,039) Net financing cash flows 48,325 87,601
Net increase (decrease) in cash held
(6,267) 9,962 1.20 Cash at beginning of quarter/year to date 23,627 7,398 1.21 Exchange rate adjustments to item 1.20 - - 1.22 Cash at end of quarter 17,360 17,360 Payments to directors of the entity and associates of the directors
Payments to related entities of the entity and associates of the related entities Current quarter $A'000
1.23
Aggregate amount of payments to the parties included in item 1.2 117
1.24
Aggregate amount of loans to the parties included in item 1.10 -
1.25
Explanation necessary for an understanding of the transactions
$117,500 payment of directors fees
Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated
assets and liabilities but did not involve cash flows
N/A
2.2 Details of outlays made by other entities to establish or increase their share in projects in which the
reporting entity has an interest
N/A



Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms.

30/9/2001 Appendix 5B Page 3 Financing facilities available Add notes as necessary for an understanding of the position. Amount available
$ '000 Amount used
$ '000 3.1 Loan facilities
- - 3.2 Credit standbyarrangements - -
Estimated cash outflows for next quarter $ '000 4.1 Exploration and evaluation
3,500 4.2 Development
- 4.3 Production
750 4.4 Administration
750
Total 5,000 Reconciliation of cash Reconciliation of cash at the end of the quarter (as
shown in the consolidated statement of cash flows) to
the related items in the accounts is as follows. Current quarter $ '000 Previous quarter $ '000 5.1 Cash on hand and at bank 17,360 23,627 5.2 Deposits at call - - 5.3 Bank overdraft - - 5.4 Other (provide details) - - Total: cash at end of quarter (item 1.22) 17,360 23,627 Changes in interests in mining tenements Tenement
reference Nature of interest
(note (2)) Interest at
beginning
of quarter Interest at
end of
quarter 6.1 Interests in mining
tenements relinquished,
reduced or lapsed 6.2 Interests in mining
tenements acquired or
increased Nil Appendix 5B
Mining exploration entity quarterly report
+ See chapter 19 for defined terms.

Appendix 5B Page 4 30/9/2001 Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. Total number Number quoted Issue price per
security (see note
3) (cents) Amount paid up per
security (see note 3)
(cents) 7.1 Preference +securities (description) Nil 7.2 Changes during
quarter
(a) Increases through issues (b) Decreases
through returns
of capital, buy-
backs,
redemptions 7.3 +Ordinary securities

1,706,895,935
1,706,895,935 7.4 Changes during
quarter
(a) Increases through issues (b) Decreases
through returns
of capital, buy-
backs

256,171,752



256,171,752

7.5 +Convertible debt securities
(description) Nil 7.6 Changes during
quarter
(a) Increases
through issues
(b) Decreases
through
securities
matured,
converted 7.7 Options
(description and
conversion
factor) 197,777,861 3,177,029 855,166 7,058,824 60,000,000 197,777,861 Exercise price $0.05 $0.50 0.04 0.04 $0.10 Expiry date 31 December 2011 30 June 2012 30 June 2015 30 April 2016 31 December 2011 7.8 Issued during
quarter 7,058,824 0.04 30 April 2016 7.9 Exercised during
quarter 21,967,065 21,967,065 $0.05 31 December 2011 7.10 Expired during
quarter Nil Appendix 5B Mining exploration entity quarterly report
+ See chapter 19 for defined terms.

30/9/2001 Appendix 5B Page 5 7.11 Debentures
(totals only) Nil 7.12 Unsecured
notes (totals
only) Nil Compliance statement 1 This statement has been prepared under accounting policies which comply with
accounting standards as defined in the Corporations Actor other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. _______________________
Peter Landau
Executive Director
29 July 2011
Notes 1 The quarterly report provides a basis for informing the market how the entity's
activities have been financed for the past quarter and the effect on its cash position.
An entity wanting to disclose additional information is encouraged to do so, in a note
or notes attached to this report. 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in
mining tenements acquired, exercised or lapsed during the reporting period. If the
entity is involved in a joint venture agreement and there are conditions precedent
which will change its percentage interest in a mining tenement, it should disclose the
change of percentage interest and conditions precedent in the list required for items
6.1 and 6.2. 3 Issued and quoted securities The issue price and amount paid up is not required in
items 7.1 and 7.3 for fully paid securities.4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries
and AASB 1026: Statement of Cash Flows apply to this report.5 Accounting Standards ASX will accept, for example, the use of International
Accounting Standards for foreign entities. If the standards used do not address a
topic, the Australian standard on that topic (if any) must be complied with. == == == == ==

Re: Quarterly report out on ASX









"East Texas Cotton Valley Prospect In the Company's East Texas Cotton Valley project, the Company successfully reached target depth
on the Ross 3H well at a total measured depth of 8,900 ft. and set casing to this total depth.
Completion work was then commenced and continues with open hole logs, sidewall cores, and mud
logs all indicating good porosity and oil saturation throughout the approximately 3,400 ft. horizontal
section. Prior to initiating hydraulic fracturing operations in the reservoir section, the Operator of the project
perforated two sections near the northern terminus of the lateral and swabbed in fluids in order to
confirm oil productivity. In both cases, swabbing runs yielded water. Because the project area is
adjacent to an oil field that is currently undergoing water injection as part of a secondary recovery
effort (water flooding), there is a strong likelihood that neighboring operations have pushed injected
water into the Company's acreage. Water samples are currently being analyzed to determine
whether or not this is the case. Regardless of the outcome of the tests, over 2,250 feet of horizontal
section remain to be tested before final results are known. Range remains optimistic about the probability of success in East Texas. Added Pete Landau, Range's
Executive Director, "The Ross 3H is a direct offset to a known producing well and has a horizontal
section that terminates near a well that has produced over 70,000 barrels to date. We have every
reason to believe that the Ross will be successfully completed as a producer. In the meantime,
Range, along with its partners, is taking the proper steps to identify the source of the water in order
to adjust the Ross 3H completion and its development drilling program going forward".

.

.

Quarterly Report Period Ending 30 June 2011

Range Resources Limited (Range or the Company) is an ASX (ASX: RRS RRSOA) and AIM (AIM: RRL) listed exploration Company, with its principal activity directed towards finding and delineating natural resources in the oil, gas and mineral sectors in Puntland, Somalia. Range Resources currently has a 100% interest in the sole and exclusive rights to all mineral and hydrocarbon exploration and development in the Somali state of Puntland which covers an area of approximately 100,000km2. Puntland is believed to have all the geological requirements to become a commercial oil-producing region. Somalia, and in particular Puntland, remains one of the last under-explored countries that has a high potential for considerable reserves of hydrocarbons which can be subsequently developed for the benefit of both the people of Puntland and Range Shareholders. The Company believes that through the generation of work and government royalties from hydrocarbon and mineral exploration and development numerous social and economic benefits will result.
.Full Range Resources profile here
Range Resources expected to produce raft of "exciting news flow" in second half - analyst
3:38 pm by Giles Gwinnett He rates the stock a "buy" and targets a share price of 27 pence With an intensive drilling programme across four countries Range Resources (LON:RRL, ASX:RRS) is expected to produce a raft of "exciting news flow" over the second half of the year, according to analyst Barney Gray at broker Old Park Lane Capital.

He rates the stock a "buy" and targets a share price of 27 pence.

"Range augmented its production base significantly over the quarter ended 30 June," said Gray, in a note today, following the firm's publication of its quarterly report.

"In particular, the company completed an exciting acquisition of producing assets in Trinidad and a work programme at North Chapman. Ranch has boosted output in Texas significantly," he said.

The firm revealed today that it was targeting a significant increase in production levels in Trinidad over the next few years.

Subsequent to quarter-end, it has begun its 21 development well program in Trinidad utilising three of the company's rigs and is targeting an increase in production to between 1,400-1,800 barrels of oil per day, and an increase and reclassification of reserves along with extending the limits of the existing fields.

In Georgia, the company, along with its joint venture partners Strait Oil & Gas (UK) Ltd and Red Emperor Resources (LON:RMP, ASX:RMP), in mid-July, spudded the joint venture's first highly prospective exploration well - Mukhiani in Block Vla in Georgia

Following the completion of Mukhiani 1, the rig will move on to spud the second exploration well as part of the two well drilling program.

In Puntland, the operator of Ranges acreage, Africa Oil Corp, is finalising the appointment of a drilling contractor for the first exploration well in a two well programme and the company expects that mobilisation for exploration drilling could commence in the third quarter, it said.

At the North Chapman Ranch in Texas, operator Western Gulf Oil & Gas has signed a contract for a drilling rig to drill a third well in the field, currently scheduled for mid-October. Discussions as to the location of a second 2011 well are currently underway.

During the quarter the company successfully completed a capital raising of US$49 million before costs, with the majority of the money used for the acquisition of the Trinidad assets.

"Ranges progress in Trinidad and Texas has de-risked the business significantly. However, the company retains exciting near term exposure to highly attractive exploration plays in Georgia and Puntland.

"We believe that Ranges portfolio has struck an important balance between production, development and exploration," said analyst Gray.

Monday, Aug 01 2011 by Fox Davies Capital
Oil and Gas Corporate News
http://bit.ly/nVktgr

Range Resources (LON:RRL) Ltd. (UNDER REVIEW) (RRL, 15.13p, ▼ 2.42%) released its quarterly report for period ending 30 June 2011. During the quarter, the Company completed the acquisition of a 100% ownership interest, through SOCA Petroleum, in the holding and subsidiary companies that hold three production licences in producing onshore oilfields in Trinidad and significant local onshore drilling operations. During the quarter, the Company, along with its joint venture partners, Strait Oil & Gas (UK) Limited ("Strait") and Red Emperor Resources NL ("Red Emperor") commenced mobilisation in readiness for the spudding the joint venture's first highly prospective exploration well - Mukhiani in Block Vla in Georgia. The Mukhiani 1 Well is targeting the Vani 3 prospect which has estimated potential undiscovered stock tank oil initially-in-place ("STOIIP") of 92.7 MMbbl (P50 gross).

During the quarter, Range's joint venture partner and Operator of the Puntland joint venture, Africa Oil Corp. ("Africa Oil") announced the execution of a letter of intent with a drilling subcontractor paving the way for the mobilisation and drilling of the first milestone well in Q3 2011. Africa Oil continued with negotiations with the Puntland Government on various items in readiness for the historic well. In Texas, the Companys production for the quarter from North Chapman Ranch was 95k mcf of gas and 7,863 barrels of oil net to Range, which was a significant increase from the previous quarter as a result of the successful fracture stimulation of both the Smith #1 and Russell Bevly wells. Since the fracture stimulation jobs were initiated on these two wells, gross combined rates from the field hit a high of 9.3 MMcf of gas and 800 bbl of oil per day during the month of March. During the quarter, remedial work was performed on the Company's Smith #1 well with production tubing being installed and subsequently completed, with the Smith #1 well back online. The cash at the end of quarter was A$17.36 million.