Range Resources Limited along with its Georgian Partners, Strait Oil & Gas Limited (Strait) and Red Emperor Resources NL has received the results from the Helium Survey across three prospects in Block VIa and Block VIb completed by Actual Geology International (AGI).

Helium Survey

A surface helium survey was carried out at three areas (Mukhiani, Kursebi and Sachkhere – 10km2 for each survey) on prospecting blocks VIa and VIb using a 100*100 meter grid. It is important to realise that the 10km2 grid used only covered a portion of each of the main structures identified by the RPS Group – the 10km2 grid was used to evaluate proposed drill locations within these structures.

A detailed helium survey was then carried out at contrasted helium anomalies, which had been discovered, using a 25*25 meter grid. Maps were compiled zoning the area by levels of heliu concentration in surface and sub‐soil gas, by overall concentrations, by respective helium anomalies in surface and sub‐soil gas, as well as maps of helium variations at measurement points and areal helium variations. Maps of prospective oil and gas presence were compiled, showing zones with high gas saturation and zones with enhanced fractured reservoirs, as well as prospective territories and priority locations for construction of prospecting wells.

AGI reported that the helium survey work at the Mukhiani, Kursebi and Sachkhere has: – established the presence of a stated helium flow in the earth’s gas exhalation, based on contrasting, compact and areal helium anomalies, i.e. active oil & gas presence has been discovered and confirmed at the Mukhiani and Kursebi Zones at the Mukhiani and Kursebi areas, which are recommended for exploration and potentially development drilling for oil, can be qualified as being likely to be oil & gas bearing by four principal criteria:

1. heightened levels of helium content, intensive helium flow;

2. significant positive helium anomalies;

3. contrasting helium variations;

4. high anomaly levels are simultaneously associated with various geological

elements.

– established the environment of hydrocarbons at the area and localized the most mobile

reserves;

– identified distribution structure of reservoirs with enhanced vertical permeability and

high gas factor;

defined and localized zones of tension and compression, and drainage systems,

– discovered zones with reservoirs characterized by enhanced permeability, hydrodynamic

connectivity, efficient drainage (zones that should be the basis for future development work);

– identified non‐prospective and high‐risk territories; and

– enabled construction of maps of oil & gas prospects at the Mukhiani, Kursebi and

Sachkhere areas with 1:10,000 scale, which geometrize the contours of compact and prospective pools for future development, and recommended coordinate points for priority construction of search and development wells. Maps of zones where detailing work was carried out (1:5,000) define and localize priority points for drilling, based on 1:2,500 detailing work.

The productive zones, which have been distinguished at the Mukhiani and Kursebi areas, are suitable targets for exploration and potential development drilling, and well testing should provide the Clients with delineation and growth of active reserves high flow rates at launch, and considerable accrued production.

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