Range Resources Limited provide the following update with respect to the Company's Trinidad operations with the following highlights:

• The QUN 135 well makes discovery of a new oil reservoir in the Middle Cruse formation, indicating 50 ft. of net oil pay at approximately 3,500 ft., with the well successfully cemented with 5½" casing; • The QUN 138 well successfully drilled and put into production with initial rates (five day average) of approximately 85 bopd; • The QUN 139 well successfully reached revised target depth of 1,300 ft. and encountered total of 70 ft. of good quality oil sands, and 190 ft. of lower resistive oil sands in the Lower Forest formation to be perforated later this week; and • The QUN 133 well perforated and drilling to commence on QUN 140 and QUN 141 wells - all targeting the Lower Forest Formation.

The Company is pleased to report that following the successful deepening of the QUN 135 well to a revised target depth of 3,800 ft., the Company has made an apparent discovery of a new oil reservoir in the Middle Cruse section between 3,490 - 3,540 ft. measured depth. Open hole logs indicate 50 ft. of previously unseen oil pay with porosities in the 21-23% range, while offset well control indicate that the identified reservoir section has significant areal extent.

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