US$20 Million Convertible Note Financing

Range is pleased to confirm that following Shareholder approval at the General Meeting of the Company held on 7 February 2017, all the conditions for the US$20 million convertible note financing have been met.

The issue of the convertible note is to replace a portion of the outstanding payable balance due to LandOcean Energy Services Co., Ltd. ("LandOcean") under the terms of the Integrated Master Services Agreement. At the date of entering into the Convertible Note Agreement (31 October 2016), the outstanding payable balance due to LandOcean was US$35.9 million.

Key terms of the convertible note can be found in the announcement published on 31 October 2016 and the Notice of Meeting dated 5 January 2017.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.