Range Energy Resources Inc. Announces Strategic Review Process and Appointment of Allan Bezanson to Board of Directors

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Range Energy Resources Inc. (CNSX:RGO)(FRANKFURT:YGK) announced today that it
has initiated a process to identify and consider its strategic alternatives for
maximizing shareholder value. In this connection, a party has submitted an
unsolicited and non-binding offer to acquire Range's outstanding shares.
Discussions regarding the offer are at a very early stage, but in any event
Range wishes to fully canvass its options before deciding how to proceed. Other
possibilities might include asset sales, joint ventures, new capital investments
and a sale of the company to a different party. There can be no assurance that
this review process will result in a transaction. 


Range is very pleased to announce the appointment of Mr. Allan Bezanson to the
Board of Directors effective today. Mr. Bezanson is the Managing Partner of
Cornerstone Capital Partners, a Toronto-based investment bank specializing in
structuring and facilitating private equity investments in energy, resources and
early stage technology sectors. Previously, he was President and Partner at
Oballan Capital and Osprey Capital. 


About Range Energy

Range Energy has an indirect 24.95% working interest in a company with an 80%
interest in a production sharing contract governing the Khalakan Block in the
Kurdistan Region of Iraq.


For further information on Range Energy Resources Inc. (CNSX:RGO), please visit
the Company's web site at www.rangeenergyresources.com.


Donald R. Sheldon, Chief Executive Officer

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS DOES NOT CONSTITUTE AN
OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY
STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO
U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.


This news release contains certain statements that may be deemed to include
"forward-looking information". 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 Energy
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 Energy's management on the date the statements
are made. Except as required by law, Range Energy Resources Inc. undertakes no
obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.