.

14 July 2011 Range Resources Ltd
ABN 88 002 522 009
www.rangeresources.com.au



SPUD OF MUKHIANI 1 WELL, GEORGIA

Highlights

* Successful spudding of Mukhiani 1 well in Georgia.

* The Mukhiani 1 well is the first of an anticipated 4-6 high impact
exploration wells to be drilled in 2011 across the Company's Georgian,
Puntland, Texan and Trinidadian exploration assets.

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 it has spudded the Mukhiani 1
well in Georgia overnight. Mukhiani 1 is targeting a prospect with a mean
estimate of undiscovered oil in place of 115 million barrels (with 46 million
barrels attributable to Range's 40% interest).

Range Executive Director, Peter Landau commented, "This is a significant
milestone for Range as it is our maiden well spud as an operator and the
culmination of a significant amount of appraisal work completed by Strait's
operations team."

The drilling operations will run 24 hours with a team of between 40-50
personnel and is expected to take approximately 45-55 days with a target depth
of circa 3,500m.

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.

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.

The Company will provide updates on a regular basis as to the progress of the
drilling of the Mukhiani well.


Yours faithfully

Peter Landau
Executive Director

.

/

excellent!

.

.

/

/

/

/

Intersting, bring it on.

/

/

/

Maybe some people don't want to wait or don't realise that there is possibly a lot more to come before 50 days, haven't got a clue why this does not move up instead of down, but as you said at least we have a roof over our heads. Here is to next week!!!!

.

/.

Another dreary dull day on the market:(

/

Please don't say that 3 years of hell is enough.