Range Reports Test Rates at North Chapman Ranch Field

Range announced that while fracture stimulation operations continue at the North Chapman Ranch Field, Range reported that combined test rates (on a 100% basis) from the Smith #1 and Russell-Bevly #1 wells reached 9.2 MMcf of gas and approximately 769 bbls of oil per day this week, compared to the earlier peak combined rate of 3.3 MMcf of gas and 247 bbls of oil per day achieved in
September of last year.

Added Pete Landau, Executive Director, "Results of the frac program are encouraging, but we have yet to see the full potential of these wells. At least one zone in the Russell-Bevly remains to be frac'd, and we are still unloading frac fluid from the recently stimulated zones. We are pleased with the results thus far and look forward to further long term stabilized data and additional development drilling later in the year."