Range Completes Seismic Program Over Khalakan Block

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Range Energy Resources Inc. (CNSX:RGO)(FRANKFURT:YGK) ("Range" or the "Company")
wishes to report that the 250 km. seismic program on its Khalakan Block in the
Kurdistan Region of Iraq is completed and a report on findings is expected in
February, 2011.


Initial rudimentary processing and interpretation indicates that there are
several surface and subsurface structures that are of immediate interest. In
addition to the seismic / geophysical program, Range independently commissioned
a field geological survey over these structures by Iraqi geologists that are
also very familiar with this area and the structural complexities. The
additional surface geological and structural data obtained from the field will
substantially aid seismic program interpretation.


The seismic program data has been delivered to TEEC, a seismic processing
company in Germany, for detailed processing after which all data will be
interpreted by geophysicists employed by New Age (African Global Energy)
Limited, the operator of the Khalakan Block. In addition, and in order to
minimize any possible interpretation errors, Range has brought some promising
seismic data from the Khalakan Block to Calgary where it will be independently
processed and interpreted. The seismic interpretation from both sources, London
and Calgary, should be available for comparison and integration in February.
Once a definitive drilling target has been selected, the process of drilling
plans and well licensing will commence.


About Range

Range has an indirect 24.95% working interest in the Khalakan Block. As reported
earlier, a resource report by Citadel Engineering Ltd. entitled "Petroleum
Reserves, Khalakan Field, Kurdistan, Prospective Petroleum Resources" has
indicated a mean gross projected oil in place resource of 1.642 billion barrels.
Range's indirect working interest, oil-in-place is estimated at 409.6 million
barrels. If a recovery factor of 30% is assumed, Range's indirect working
interest recoverable prospective resource would be 122.9 million barrels.


For further information on Range Energy Resources Inc. please visit the
Company's web site at www.rangeenergyresources.com.


On Behalf of the Board of Directors:

Donald R. Sheldon, Chief Executive Officer

This news release contains certain statements that may be deemed
"forward-looking statements". Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Range believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in forward looking
statements. Forward looking statements are based on the beliefs, estimates and
opinions of Range's management on the date the statements are made. Range
undertakes no obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors, should
change, except as required by law.