Ranger Energy Ltd. Closes Financing

Ranger Energy Ltd. ("Ranger" or the "Corporation") (TSX VENTURE:RGG.H) is
pleased to announce that it has completed its previously announced non-brokered
private placement of units ("Units"). The Corporation issued 12,500,000 Units at
a price of $0.20 per Unit for aggregate gross proceeds of $2,500,000 to the
Corporation. Each Unit consisted of one common share of the Corporation ("Common
Share") and one-half a common share purchase warrant ("Warrant"), with each
Warrant entitling the holder thereof to purchase one Common Share at any time
for a period of 12 months following the closing date at a price of $0.30 per
Common Share. The Corporation intends to use the proceeds of the Offering to
partially fund the acquisition, evaluation and development of the Viking and
Cardium oil projects in Alberta, and for general working capital purposes. 


The securities issued pursuant to the private placement are subject to a four
month holder period. The transactions remain subject to final documentation and
TSX Venture Exchange acceptance.


The Corporation has also applied to the TSX-V to be re-activated as a Tier II
issuer, and expects this application to be granted with final approval of the
above noted transactions. 


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Corporation's disclosure documents on the SEDAR website at
www.sedar.com. The Corporation does not undertake to update any forward-looking
information except in accordance with applicable securities laws.