Ann: Reserves and Resources Update-RRS.AX, page-2

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Reserves and Resources Update Range is pleased to announce that independent petroleum consultants, Rockflow Resources Limited (“Rockflow”), have completed an evaluation and independent audit of the Company’s oil and gas reserves and resources in Trinidad as at 30 June 2016 (FY 2016), with the findings summarised in the tables below. Commenting on today's announcement, Yan Liu, Chief Executive Officer, said: “Our assets in Trinidad provide an exciting mix of exploration and development activities. We are encouraged with the increase in our independently audited 2P reserves by 11%, which validates the quality and potential of our Trinidad assets. We remain focused on increasing our production and monetising these reserves. Our ultimate goal in Trinidad is to ensure that the business is selfsustaining over the long-term, and generates returns for shareholders.” Reserves attributable to Trinidad assets (net to Range) MMBOE Developed Undeveloped Total Proved reserves (1P) 0.5 16.8 17.3 Proved plus probable reserves (2P) - 7.1 24.4 Proved plus probable plus possible (3P) - 12.5 36.9 Resources attributable to Trinidad assets (net to Range) MMBOE Total Contingent resources (2C (best estimate)) 3.1 Prospective resources (unrisked best estimate) 14.8