TRINIDAD UPDATERange Resources Limited ("Range" or "the...

TRINIDAD UPDATE

Range Resources Limited ("Range" or "the Company") is pleased to
provide the following update on its Trinidad operations, with the following
highlights:

- The QUN 142 well successfully reached target depth of 1,255 ft.
and is currently producing 75 bopd;

- The Upper Cruse zone in the QUN 135 well has been successfully perforated
and will be put into production this week, after 72 hour flow test
rates of up to 150 bopd. Middle Cruse zone will form part of larger
development;

- Three production rigs have been placed into operation and have completed
remedial work on 14 wells, which has added an estimated 95 bopd to
current production;

- The QUN 141 has been successfully completed and as previously announced,
the logs indicated 160 ft. of gross oil pay, one of the thickest
Lower Forest pay sections to be encountered to date. The well has been
perforated and production is anticipated at between 75-100 bopd;

- Further production of 60 bopd is expected to be added this week through
the planned work over of another 15 wells, followed by an estimated
additional 90 bopd through the QUN 16 well re-entry and optimization of the
QUN 120 & 128 wells over the coming weeks;

- The QUN 143 and 144 wells spudded and are both drilling ahead with a target
depth of 1000 ft. The wells are anticipated to perform at similar initial
production rates of neighbouring Lower Forest wells between
50-75 bopd;

- MD 248 well drilled to 5,780 ft. encountering multiple high
pressure oil and gas pays, and oil across the shakers; and

- Production activities summarised above are expected to result in field
production getting over 1,200 bopd with renewed momentum as Range
continues with the implementation of its improved maintenance programmes and
drilling inventory.

Lower Forest Development Drilling

The Lower Forest development continues to gain momentum with Rig 5
recently completing the QUN 142 well. The well has been put onto production
and is currently flowing at 75 bopd.

The drilling of QUN 141 well has been successfully completed and as
previously announced, e-logs indicated 160 ft. of gross oil pay, one of the
thickest Lower Forest pay sections encountered to date. The well has been
perforated with production commencing this week, which is anticipated to be in
the vicinity of 75-100 bopd.

The Company has also successfully spudded wells QUN 143 and 144
using Rigs 5 and 1, respectively. Both wells will be drilled to their target
depth of 1,000 ft. and are expected to perform at similar initial production
rates of neighbouring Lower Forest wells between 50-75 bopd.

Three production rigs have been placed into operation in the last
two weeks and have completed remedial work on 14 wells, which has added
approximately 95 bopd of production. A further 15 wells are planned to be
worked over this week, adding an estimated 60 bopd.

In the course of the coming weeks, the company will be performing
optimization work on the QUN 120 & 128 wells, as well as QUN 16 well re-entry,
which previously produced up to 145 bopd over a one week test. The QUN 16 well
was drilled and tested in 1942 and logged thick oil sands that correlate with
the Lower Forest reservoirs being developed by the Company approximately ½
mile to the west. Re-activation of the QUN 16 well will be performed using one
of the Company's production rigs. This will add new reserves and production,
while further extending the Lower Forest trend to the east of the QUN 16 well
and establishing a large area for low-risk infill drilling between the well
and the current Lower Forest development.

Middle Cruse Formation Drilling

The Company has successfully perforated the Upper Cruse section of
the QUN 135 well with tubing run and the well is currently being swabbed. The
company expects to put the well into production this week with flow tests of
up to 150 bopd. The Company is extremely encouraged by the results in the
Upper Cruse zone of the QUN 135 well. Given timing and cost considerations, it
was considered prudent to put the Upper Cruse zone on production and commence
with drilling an adjacent well, which will target the same Middle Cruse
structure from a nearby location and will have a similar profile to the QUN
135 well. Further details on the planned well will be provided with the
Company's next updates.

Lower Cruse Formation Drilling

The MD 248 well has been drilled to 5780 ft., encountering multiple
high pressure oil and gas pays, which indicate the presence of productive oil
sands, as well as multiple oil shows across the shakers. Shortly after
encountering these hydrocarbon shows, challenging downhole conditions were
encountered which resulted in Rig 8 having to undergo temporary maintenance
work before continuing drilling to ensure the successful completion of the
well.