PUNTLAND UPDATE

Range Resources Limited ("Range" or "the Company") is pleased to announce that
the Shabeel-1 well currently being drilled in Puntland by the Company's Joint
Venture Operator, Horn Petroleum Corp. ("Horn" - TSXV:HRN) is drilling ahead at
a current depth of 3425m (as at 13 May 2012).

A gross section of 150m of oil (possible net pay between 12-20m) has been
encountered in the Cretaceous Sandstones (previously announced) whilst further
oil shows have been encountered in the deeper sandstones which are currently
being drilled.

A testing program including the zones discovered to date and any deeper
potential pay zones encountered will be agreed with the Operator upon total
depth being reached.


Yours faithfully

Peter Landau
Executive Director