The ManagerCompany AnnouncementsAustralian Securities Exchange...

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


By e-lodgement


PUNTLAND DRILLING UPDATE

Range Resources Limited ("Range" or the "Company") provides the following update
on the Shabeel North well currently being drilled in Puntland, Somalia
by the Company's Joint Venture Operator, Horn Petroleum Corp. (TSXV: HRN).

An open hole Drill Stem Test (DST) was conducted over a 50 metre gross interval
(1910m - 1960m) which contained several sands in the upper portion of the primary
Jesomma Formation which had oil shows. The test recovered fresh water (1200 ppm
Cl-) without any traces of oil. The current plan is to drill ahead to the
originally planned depth of approximately 2400 metres which will penetrate the
remaining section of Jesomma sands at which point the entire section will be
evaluated by electrical logging to determine if further testing is warranted.


Yours faithfully

Peter Landau
Executive Director