23 Oct 2014 07:00

International Petroleum Loan Update
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Range advises that further to the Company's announcement on 4 August 2014, all conditions precedent to the settlement of Range's loan have been met.
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According to the settlement agreement, International Petroleum Ltd ("IOP") has made a cash payment of US$500,000 to Range and all other outstanding monies have converted into 147,803,270 ordinary shares of IOP. Following conversion, Range holds approximately 9% of the enlarged share capital of IOP. In addition, IOP has issued 5 million unlisted options to Range exercisable at AU$0.06 per option on or before 2 October 2016.
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IOP advises Range that its securities are expected to be restored to trading on the National Stock Exchange of Australia ("NSX") within the current quarter.
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Contacts
Range Resources LimitedRory Scott Russell (CEO)
Evgenia Bezruchko (IR)
Cantor Fitzgerald Europe(Nominated Advisor and Broker)
David Porter / Sarah Wharry(Corporate Finance)
Richard Redmayne (Corporate Broking)
t. +44 (0)20 7894 7000
Buchanan (Financial PR - UK)
Ben Romney / Helen Chan
t. +44 (0)20 7466 5000
e. rangeresources@buchanan.uk.com
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MAGNUS (Financial PR - Australia)
Rupert Dearden / Richard Glass
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t. + 61 8 6160 4900
e. rdearden@magnus.net.au
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Australian Office
945 Wellington Street
West Perth, WA 6005
Australia
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t. +61 8 9322 7600
f. +61 8 9322 7602
UK Office
Suite 1A, Prince's House38 Jermyn StreetLondon, SW1Y 6DNUnited Kingdom
t. +44 (0)20 7025 7040
f. +44 (0)20 7287 8028
e. admin@rangeresources.co.uk
www.rangeresources.co.uk
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