International Petroleum Loan Update

International Petroleum Loan Update

Range advises that further to the Company's announcement on 4 August 2014, all conditions precedent to the settlement of Range's loan have been met.

According to the settlement agreement, International Petroleum Ltd ("IOP") has made a cash payment of US$500,000 to Range and all other outstanding monies have converted into 147,803,270 ordinary shares of IOP. Following conversion, Range holds approximately 9% of the enlarged share capital of IOP. In addition, IOP has issued 5 million unlisted options to Range exercisable at AU$0.06 per option on or before 2 October 2016.

IOP advises Range that its securities are expected to be restored to trading on the National Stock Exchange of Australia ("NSX") within the current quarter.

Contacts

Range Resources LimitedRory Scott Russell (CEO)

Evgenia Bezruchko (IR)

Cantor Fitzgerald Europe(Nominated Advisor and Broker)

David Porter / Sarah Wharry(Corporate Finance)

Richard Redmayne (Corporate Broking)

t. +44 (0)20 7894 7000

Buchanan (Financial PR - UK)

Ben Romney / Helen Chan

t. +44 (0)20 7466 5000

e. [email protected]

MAGNUS (Financial PR - Australia)

Rupert Dearden / Richard Glass

t. + 61 8 6160 4900

e. [email protected]

Australian Office

945 Wellington Street

West Perth, WA 6005

Australia

t. +61 8 9322 7600

f. +61 8 9322 7602

UK Office

Suite 1A, Prince's House38 Jermyn StreetLondon, SW1Y 6DNUnited Kingdom

t. +44 (0)20 7025 7040

f. +44 (0)20 7287 8028

e. [email protected]

www.rangeresources.co.uk