LONDON (Dow Jones)--Range Resources Limited (RRL.LN)) said Monday that on the Russell Bevly No.1 appraisal well as part of the North Chapman Ranch Joint Venture's multi-well program in Texas, drilling has slightly exceeded target depth to 14,222 feet (4,336 meters), with mud logs during drilling reporting the presence of hydrocarbons. MAIN FACTS: -Open hole well logs will commence shortly to determine the extent of the hydrocarbons present with results to be reported once completed and become available. -The artificial fracture stimulation of the Smith No.1 well has been completed with the operator now slowly opening the choke diameter to ensure the performance of the well is optimized following the successful stimulation of the well. -Shares at 0712 GMT up 0.3 pence, or 5.1%, at 5.1 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires June 28, 2010 03:14 ET (07:14 GMT)