OilVoice - Range Provides Texas and Georgia Operations Update

Range Provides Texas and Georgia Operations Update

Tuesday, March 16, 2010

Range Resources Limited provides an update on the Company's US Gulf Coast interests following the successful connection of the Smith No.1 well to the sales line late last month.

After commencing production late last month, the well has been stabilised and producing into the sales line at rates of between 2.2-2.8Mmcf / day and 200-250 bbls /day. The well remains on track to be shut in during Q2 2010, where the remaining two zones will be fracture stimulated (if needed), comingled with the currently producing zone, and then introduced to the sales line.

It is anticipated that completion of an independent reserves report on the Smith No.1 well will be completed in the coming weeks with the results announced once available.

Based on the success of the Smith No.1 well and the expanded acreage, the joint venture anticipates a multi-well program across the lease area with the spudding of a second development well scheduled to commence in April 2010.

Georgia
The seismic acquisition program is nearing completion, with sign-off of the acquisition schedule to occur before the end of the month.

Following completion of the seismic acquisition, the seismic data will be processed and interpreted with the aim of identifying drill targets by late Q2 2010 / early Q3 2010. Assuming the successful identification of drillable targets, the Company will elect to either:
• progress the targets at the current 50:50 equity basis with its partner Strait Oil and Gas (UK) Limited; or
• look to attract potential farm-in partners who could also potential act as operator of a drilling program.

The Company will continue to provide further updates on the progress of its portfolio of assets.