RGO Range Energy Inc

Range Energy Resources Inc. (the "Company") (CSE:RGO)(FRANKFURT:YGK) is pleased
to announce that, on May 27, 2014, the International Chamber of Commerce (the
"ICC") notified the Company of the final award issued in the arbitration
proceeding that the Company commenced against New Age Alzarooni 2 Limited
("NAAZ2") and Black Gold Khalakan Limited ("BGKL"). The Company believes that
the award is favorable to the Company. The result is that the Company should
have more ready access to, and certain rights to disclose, material information
concerning the status of work at the Khalakan Block.


As the Company has reported, on July 20, 2012, the Company commenced arbitration
proceedings against NAAZ2 and BGKL, the other shareholder in NAAZ2. The Company
owns 49.9% of the shares of NAAZ2, which in turn is the owner of 50% of the
shares of Gas Plus Khalakan ("GPK"), the sole contractor for the Khalakan Block.
The arbitration took place before three arbitrators in London under the
Arbitration Rules of the ICC. The arbitration panel held a hearing on the merits
of the dispute from April 29, 2013 until May 3, 2013. The Company commenced the
arbitration to compel NAAZ2 to obtain from GPK material information regarding
the development of the Khalakan Block and to confirm the Company's right to
disclose to the public certain material information regarding this development.


The arbitration tribunal has awarded the Company orders and declarations which
support the Company's right to obtain material information as to its
investments, and to use such material information (which the Company must
otherwise hold confidential) to produce public summaries of the status of the
work at the Khalakan Block as is necessary to comply with applicable securities
laws. The tribunal awarded the Company with 100% of its costs incurred in
connection with the arbitration.


The Company is not permitted under the ICC's rules to fully disclose the award. 

The Company's shareholders should be advised that NAAZ2 and Black Gold each have
28 days to challenge the award before an English court. However, the basis for
any such challenge is limited to a complaint that there has been a serious
procedural irregularity in the arbitration or that the tribunal has exceeded its
jurisdiction. The Company's shareholders also should be advised that the
effectiveness of the award ultimately depends on compliance with it by NAAZ2,
BGKL, and their respective directors. There can be no certainty that these
parties will provide, or will cause to be provided, to the Company the
information that it requests from time to time or will cooperate with the
Company in its efforts to disclose material information to its shareholders.


Toufic Chahine, the Chairman of the Company's Board of Directors said: "The
Company is pleased with the contents of this long-awaited arbitration award. The
Company's other Directors and I believe that, because of this award, the Company
will be in a better position to inform the Company's shareholders of the status
of work on the Khalakan Block. The Company will continue to vigorously pursue
its rights under the NAAZ2 shareholders' agreement and the remedies granted to
the Company under this award." 


For further information on Range Energy Resources Inc., please visit the
Company's web site at www.rangeenergyresources.com. 


On Behalf of the Board of Directors:

Toufic Chahine, Chairman

This news release contains certain statements that may be deemed to include
"forward-looking information". Forward looking statements are statements that
are not historical facts and are generally, but not always, identified by the
words "expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although Range Energy
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in forward
looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of Range Energy's management on the date the statements
are made. Except as required by law, Range Energy Resources Inc. undertakes no
obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.


THE CSE AND FRANKFURT STOCK EXCHANGES HAVE NOT REVIEWED AND DO NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS
RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Range Energy Resources Inc.
Toufic Chahine
Chairman
604-687-2038 or 604-688-9600
604-602-1606 (FAX)
range@rangeenergyresources.com
www.rangenergyresources.com

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