Range Energy Resources Inc. announced the appointment of Allan Bezanson as CEO of the Company in place of Toufic Chahine, who has resigned as Director and CEO, as well as the appointment of Peter McRae and Rick Pawluk as Directors of the company in place of Eric Stoerr and Michelle Upton who have resigned as Directors. The resignations of the aforementioned Gulf nominees coincided with Gulf's exiting from its investment in the Company. Mr. McRae is a Chartered Professional Accountant and a graduate of the Director's Education Program of the Institute of Corporate Directors with an ICD.D designation.

He is currently the Chairman, and between 1994 and 2015 was the President and CEO, of Freedom International Brokerage Company, Canada's largest inter-dealer broker. Mr. McRae's earlier career involved four years in Abu Dhabi as a financial administrator for an engineering firm before joining the investment dealer Wood Gundy, first in the Treasurer's office in Toronto, and subsequently as a bond trader in New York. Mr. McRae was the Chair of both Ryan Gold Corp.

and Corona Gold Corporation until their acquisition by Oban Mining Corporation in August 2015. He is also a director and Chair of the audit committee of Focused Capital Corp. Mr. Pawluk has acted for a number of oil and gas exploration and production companies in both the private and public sectors: BNK Petroleum Inc., Sunshine Oilsands Ltd. and Bankers Petroleum Ltd. Mr. Pawluk's duties included advising both domestic and international financing, and acquisition and divestiture transactions.

Since 2003, Mr. Pawluk has been a Partner at McCarthy Tétrault LLP. Mr. Pawluk holds an LLB degree from the University of Manitoba and is a member of the Law Society of Alberta, the Canadian Bar Association and the Institute of Corporate Directors.