CALGARY, ALBERTA - Open Range Energy Corp. (TSX:ONR) ("Open Range" or the "Company") is pleased to announce that it has drilled and cased a strategic step-out well de-risking the northern extension of its Wilrich and Notikewin horizontal inventory at its core Ansell/Sundance Deep Basin property.

The 100 percent Open Range 16-29-54-20-W5M vertical well was recently drilled and cased to a total measured depth of 3,295 metres, intersecting seven prospective Cretaceous horizons. The well firmly establishes the presence of thick Wilrich and Notikewin reservoir on the Company's northern lands, with excellent gas shows and high-quality sand, including over 18 metres of net pay in the Notikewin. A Falher zone, a high-quality Bluesky reservoir and a thick Cadomin interval were also encountered.

This step-out well de-risks at least 20 (18.5 net) horizontal locations in the Company's northern Wilrich and Notikewin inventories in an area of Ansell/Sundance having little well control to date. The well is scheduled for fracturing operations in all seven zones in the coming days.

Production will be tied into the Company's 100 percent owned deep cut gas plant on its eastern Ansell/Sundance lands, currently under construction. The remaining vertical exploratory well of Open Range's planned 2012 capital program is expected to spud in the coming days.

"This is an important step in our prudent 2012 capital program, helping to strengthen our core Ansell/Sundance asset for further growth when natural gas prices recover," said Scott Dawson, Open Range's President and CEO.

(Marketwire - Feb. 14, 2012)