rns-100% aquisition completed-soca

UP 1.5P TO 18.5P LSE..GLA

1 June 2011


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


By e-lodgement

ACQUISITION OF 100% OF TRINIDAD ASSETS COMPLETED

International oil and gas exploration, development and production company,
Range Resources Limited ("Range" or "the Company") is pleased to announce the
completion of the acquisition of 100% of SOCA Petroleum which in turn holds
100% of three exploration and production onshore oil and gas licenses, along
with 100% of a fully operational drilling subsidiary with five exploration
drill rigs, four production drill rigs and associated equipment and operational
personnel.

As previously mentioned in an earlier announcement, the completion of the
acquisition now immediately triggers the commencement of an aggressive work
program that is expected to see a rapid increase in production from the
existing reserve base as it moves towards its targeted production rate of 4,000
bopd from existing P1 and P2 reserves (currently production is 650-700 bopd).
The program will also target the deeper (and potentially bigger) Herrera
formation and untested areas not currently forming part of the current reserve
base.

The Company is currently updating the current reserve and valuation report
across the Trinidad assets which will also include the Herrera potential which
has not been included in previous reports.

The Company would also like to advise that the recently published research
report on the Company (taking into account the Trinidad acquisition) by Range's
London Brokers Old Park Lane Capital is available on the company's website
www.rangeresources.com.au.


Yours faithfully



Peter Landau
Executive Director


Contacts

Range Resources
Peter Landau
Tel : +61 (8) 8 9488 5220
Em: [email protected]

Australia London

PPR Tavistock Communications
David Tasker Ed Portman / Paul Youens
Tel: +61 (8) 9388 0944 Tel: +44 (0) 20 7920 3150
Em: [email protected] Em: [email protected]

OPL-27th May-report:
http://www.rangeresources.com.au/fileadmin/user_upload/asx/Company_Update_270511.pdf