Released after Aussie market close...30 December 2011The...

Released after Aussie market close...

30 December 2011

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

By e-lodgement

TEXAS & TRINIDAD UPDATE

Trinidad

Range Resources Limited ("Range" or "the Company") is pleased to announce that
it has successfully drilled and logged the QUN118ST development well on the
Morne Diablo concession in Trinidad. The QUN 118ST logged more than 200 ft. of
gross oil pay in the shallow Forrest formation, further extending the existing
field area to the north and east. The well is currently being completed for
initial production from natural pressure, which is expected to commence within
the next week.

The Company operates three production areas onshore Trinidad, where it
continues to develop existing reserves, extend producing trends, and exploit
marginal producing properties.

Exploratory drilling for deeper targets is programmed for 2012, following
reprocessing and interpretation of the Company's 3D seismic database, which is
scheduled to be completed next month.

Texas

The Company would also like to announce that the surface casing was
successfully set on the Albrecht #1 appraisal well on the Company's North
Chapman Ranch Project in Texas and recommenced drilling and is currently
drilling ahead at a depth of 7,900 ft. with a target depth of 14,500 ft.

The Albrecht # 1 appraisal well marks another milestone in the Company's
onshore Texas drilling program, as if successful, it is anticipated to prove up
reserves in the South East portion of the North Chapman Ranch license area, and
support a re-classification of current Possible (P3) reserves into the Probable
(P2) and Proved (P1) categories.

Following on from the Albrecht #1 well, the joint venture has the option to
continue with the development of the field with a possible four-well program in
2012 under discussion among the joint venture partners.

Yours faithfully

Peter Landau


...What do they have to do to get a sustained SP increase? Hopefully these announcements are highlighting the safer aspects of the company, which is quite positive IMO, and using this to build up volumes and generate interest ahead of Georgia and Puntland spuds.

I know I will take a few shots from people who don't believe Puntland will ever happen but they are closer than they have ever been and we are getting closer to it, not further away. Happy to be the glass-half-full guy on this one.

Cheers,
Wayno