Range Resources Limited provides the following updates with regards to its drilling operations in Georgia, Trinidad and Texas.

Georgia

The Company is pleased to announce that the exploration drilling rig and associated equipment that will be used for the Company’s two well exploration program in Georgia arrived at the port of Poti in Georgia recently and is now on site being erected with a scheduled spudding date of early July. A total of 40-50 personnel will be conducting the drilling program on a 24 hour basis.

This Mukhiani well is targeting the Vani 3 prospect which has a best estimate of gross undiscovered oil in place of +115mbbls (with 46MMbls attributable to Range’s 40% interest). This prospect was also the subject of the geochemical helium survey completed by Actual Geology earlier this year with the results identifying a positive presence of helium anomalies across the prospect that indicate the presence of a working hydrocarbon system.

The Mukhiani well is targeting a depth of approximately 3,500m and is expected to reach target depth within 45-55 days, and is the first of a two well highly prospective exploration drilling program to be completed by Range and its joint venture partners in Georgia this year.

Trinidad

The Company is also pleased to announce that it is on track to commence the shallow target development drilling program (depths to 1,500ft) in Trinidad involving 15-20 wells to be completed before year-end utilising a number of the Company’s drilling rigs. It is anticipated that the first well in the program will commence around the end of July with the Company to provide regular updates on the progress of the shallow well program. The Company is also finalising plans for an initial well to test the deeper Herrera formation target with an indicative proposed spudding date in late Q3 / early Q4.

Broker / Analyst Visit to Company’s Texan and Trinidad Interests

The Company also recently hosted a number of UK, European and Australian brokers and analysts on a comprehensive site visit of the Company’s Trinidad and Texan assets as well as receiving presentations from the Company’s partners in Georgia regarding the current drilling program. This included the current brokers the cover the Company together with a number of new brokers, and the Company is anticipating some updated and initiating research from a number of these analysts in the coming weeks.

East Texas Cotton Valley

The Company also said that preparations have been completed in anticipation of the fracture stimulation of the Ross 3H horizontal well. The well bore has been cleaned out and perforated, with the frac tanks now being filled ahead of fracture stimulation operations due to commence following the arrival of the frac equipment and crew. If successful, the Ross 3H well is expected to launch a development program of 15-20 additional horizontal wells, each of which could potentially recover between 200,000 and 500,000 bbls. Having recently increased its interest to 21.75% of the field, Range is well positioned to add significant oil production and cash flow to its growing US operations.

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