VALUING CTP as an ONGOING BUSINESS, page-4

Applying similar analysis to potential Range resources / income / assets value applying a factor of 5 for business trade sale value :

current minimum business value is .................................................................................................................................... 82.165 cps .........82.165 cps

Range calculations ........................ income per year 5 cps X 5 ( years ) ................................ 25 cps

........................ 6.5 cps ........................................................32.5 cps

Range resource value 5.4146 cps X 5 .................................................................................. 27 cps

... 6.49761 cps X 5 ........................................................................................................32.488 cps

Range asset value ( unknown - 2018 Annual Report value used ) ........................................ 9.9 9.9

Total Range values ................................................................................................................ 61.9 cps .......74.888 cps 61.9 cps ...........74.888 cps

Total Range + existing business value is .................................................................................................................... 144.065 cps ........ 157.053 cps

Minimum trade sale value range combined existing business + Range ( future ) business is AU$144.065 / 157.053 cps.