Range Resources Limited provided Trinidad update with the following highlights: Development and exploration programmes: Current production in Trinidad reached 645 barrels of oil per day (bopd) from an average of 525 bopd in the previous month. During the current quarter, the company has: Completed two new development wells (QU 454 and QU 455) in the South Quarry field to depths of 1,440 ft. and 890 ft. respectively, with testing operations currently ongoing; Brought three new development wells in the Morne Diablo field into production (these wells were drilled in the previous quarter), including the QUN 157 well, which is currently flowing at a stabilised rate of 105 bopd on a restricted 5/32" choke from an average perforated depth of 1,300 ft.; The QU 456 well spudded and is drilling ahead in the South Quarry field to a target depth of 2,000 ft.; Spudding of the first shallow onshore exploration well on the Guayaguayare licence has been postponed to the second quarter of 2015; and Range and its strategic partner LandOcean Energy Services Co. Ltd. (LandOcean) are progressing with geological and geophysical studies which are aimed at improving operational efficiency, and sub-surface evaluation, in order to reduce risk and increase reward. These studies resulted in a revision of the previous development and exploration drilling programmes. The refined 2015 /2016 work programme is being finalised and will be announced in the coming weeks. Waterflood programme: Beach Marcelle waterflood project: LandOcean has been evaluating three waterflood blocks in the Beach Marcelle field: C, NE, and SE blocks, and two blocks in the South Quarry field. Study work is now being extended to include two further blocks in Beach Marcelle: SW and NW blocks, which were previously partially waterflooded by Texaco. Following a further review, Range and LandOcean have jointly come to a conclusion that given its potential for additional reserves recoverable by waterflooding, the first preferred waterflood project on the Beach Marcelle field will be on the SE block. The next key steps in the programme will be for Range to study the economics and feasibility of the waterflood project for this block in detail, ahead of any relevant approvals, including regulatory approvals. In the meantime, operations are in progress with continued integrity testing of existing wellbores in the SE and C blocks, with some 60% of wells now tested. Surface facility studies by LandOcean engineers are continuing. Morne Diablo waterflood project: LandOcean has reviewed existing plans for expansion of the successful pilot waterflood scheme, and has suggested changes to the waterflooding pattern which could enhance incremental production and recovery from the project. Studies to compare the anticipated recoveries and production from each of the waterflood patterns are now underway, with a view to defining the preferred waterflood scheme, and commencing implementation, during the second quarter/third quarter of 2015. Rig fleet update: Range is also advised that LandOcean has committed to add four new drilling rigs this year to the existing fleet.

In accordance with the revised internal forecast, and based on anticipated completion of the proposed USD 60 million funding with Core Capital Management Co. Ltd. in April 2015, the company believes the production target of 1,000 bopd will now be achieved during fourth quarter of 2015.