STA.L Regulatory News (STA)

3 Oct 2011 07:00

30 September 2011

Australian Securities ExchangeLevel 4, 20 Bridge StreetSYDNEY NSW 2000Via e-lodgementANNUAL REPORT

Set out below is a summary of the Company's full year annual accounts for the year ended 30 June 2011 as extracted from the annual report, being:

* Statement of Comprehensive Income;

* Statement of Financial Position;

* Statement of Changes in Equity; and

* Statement of Cashflow.

A copy of the full Annual Report is available on the company's website www.rangeresources.com.au and also the Australian Securities Exchange website www.asx.com.au .

For and on behalf of the Board

RegardsPeter LandauExecutive Director CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2011 Note Consolidated 2011 2010 $ $ Revenue from continuing operations Revenue from continuing operations 3 3,074,492 581,102 Other income 3 400,017 138,332 Expenses from continuing operations Operating costs 4 (1,439,653) (237,643) Finance costs 4 (55,595) (75,769) Depreciation expense 4 (195,839) (49,407) Directors fees 6 (474,996) (409,996) Directors share based payment 6 & 27 - (1,380,000) Corporate management services (995,000) (700,000) Consultants (5,020,998) (3,542,487) Foreign exchange loss (752,057) (337,600) Marketing and public relations (256,741) (550,431) Costs associated with AIM listing (167,454) (181,775) Travel expenditure (1,227,326) (397,377) Loss on sale of available for sale assets (55,500) - Impairment for available for sale assets - (1,097,624) Acquisition option extension fees (7,217,387) - Other expenses 4 (1,122,848) (597,911) Loss before income tax expense from continuing (15,506,885) (8,838,586)operations Income tax expense 5 - - Loss for the year attributable to equity (15,506,885) (8,838,586)holders of Range Resources Limited Other comprehensive income Revaluation of available for sale assets 295 12,250 Other comprehensive income for the year, net of 295 12,250tax

Total comprehensive loss attributable to equity (15,506,590) (8,826,336) holders of Range Resources Limited

Overall operations EPS from continuing operations: Basic loss per share (cents per share) 8 (1.18) (1.4) Diluted loss per share (cents per share) n/a n/a

The Company's potential ordinary shares were not considered dilutive (refer Note 8).

The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2011 Note Consolidated 2011 2010 $ $ ASSETS CURRENT ASSETS Cash and cash equivalents 9 17,359,870 7,398,470 Trade and other receivables 10 3,002,395 2,038,997 Other current assets 11 309,013 200,000 TOTAL CURRENT ASSETS 20,671,278 9,637,467 NON-CURRENT ASSETS Financial assets available for sale 12 912,342 420,147 Property, plant and equipment 14 19,883 24,837 Exploration & Evaluation Expenditure 15 87,809,879 83,848,855 Development Assets 16 6,140,208 3,359,401 Prepayments for Investments 17 54,426,730 13,811,660 Investments in Associates 18 5,891,595 - Non-Current Receivable 19 12,122,177 - TOTAL NON-CURRENT ASSETS 167,322,814 101,464,900 TOTAL ASSETS 187,994,092 111,102,367 CURRENT LIABILITIES Trade and other payables 20 1,419,646 1,587,397 Provision 11,645 6,211 TOTAL LIABILITIES 1,431,291 1,593,608 NET ASSETS 186,562,801 109,508,759 EQUITY Contributed equity 21 227,671,125 137,327,825 Reserves 22 18,708,387 16,490,760 Accumulated losses (59,816,711) (44,309,826) TOTAL EQUITY 186,562,801 109,508,759

The above consolidated statement of financial position should be read in conjunction with the accompanying notes.

STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2011 Consolidated Note Contributed Share-based Option Available Accumulated Total Equity Payment Premium for Sale Losses Equity Reserve Reserve Investment Revaluation Reserve $ $ $ $ $ $ Balance at 30 104,063,285 467,769 11,811,411 - (35,471,090) 80,871,225 June 2009 Revaluation in - - - 12,250 - 12,250 investments Loss attributable - - - - (8,838,586) (8,838,586) to members of the company Total - - - 12,250 (8,838,586) (8,826,336) comprehensive income and expense for the year Transactions with owners in their capacity as owners: Issue of share 21 34,904,421 - - - - 34,904,421 capital Exercise of 21 380,032 - - - - 380,032 options Issue costs 21 (2,019,913) - - - - (2,019,913) Cost of - 4,199,330 - - - 4,199,330 share-based payment Balance at 30 137,327,825 4,667,099 11,811,411 12,250 (44,309,826) 109,508,759June 2010 Revaluation in - - - 295 - 295 investments Loss attributable - - - - (15,506,885) (15,506,885)to members of the company Total - - - 295 (15,506,885) (15,506,590)comprehensive income and expense for the year Transactions with owners in their capacity as owners: Issue of share 21 81,705,992 - - - - 81,705,992capital Exercise of 21 13,612,661 - - - - 13,612,661options Issue costs 21 (4,975,353) - - - - (4,975,353) Cost of - 2,217,332 - - - 2,217,332share-based payment Balance at 30 227,671,125 6,884,431 11,811,411 12,545 (59,816,711) 186,562,801June 2011 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.. STATEMENT OF CASH FLOWS FOR YEAR ENDED 30 JUNE 2011 Note Consolidated 2011 2010 $ $ CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers 2,098,870 513,678 Payments to suppliers and employees (7,445,160) (4,227,015) Interest received 399,930 18,407 Interest & other finance costs (46,717) (72,943)

Net cash outflow from operating activities 26 (4,993,077) (3,767,873)

CASH FLOWS FROM INVESTING ACTIVITIES Payment for property, plant & equipment - (5,842) Payment for available for sale financial (830,865) -assets Payment for development assets (1,162,644) (3,371,814) Payment for investments (63,425,758) (10,282,357) Payments for exploration and evaluation (6,714,573) (3,718,227)assets Loans to external parties - (193,185) Net cash outflow from investing activities (72,133,840) (17,571,425) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of equity 90,534,113 28,264,974 Payment of equity issue costs (3,445,796) (1,543,625) Proceeds from borrowings - 1,600,000 Net cash inflow from financing activities 87,088,317 28,321,350 Net increase / (decrease) in cash and cash 9,961,400 6,982,053equivalents Cash and cash equivalents at beginning of 7,398,470 416,417financial year Cash and cash equivalents at end of 9 17,359,870 7,398,470financial year

The above consolidated statement of cash flows should be read in conjunction

with the accompanying notes.