Ranger Energy Ltd.

March 21, 2011 16:38 ET

Ranger Energy Ltd. Announces Termination of Definitive Agreement

CALGARY, ALBERTA--(Marketwire - March 21, 2011) - RANGER ENERGY LTD. (TSX VENTURE:RGG) (the "Corporation") announces that it has terminated the definitive agreement dated June 25, 2010 (the "Agreement") with respect to the acquisition of certain assets from an Alberta based private company. Please refer to the Corporation's news releases dated March 31, 2010, June 8, 2010 and July 9, 2010 for further information with respect to this transaction. The Corporation continues to evaluate international resource opportunities.

Statements in this joint press release contain forward-looking information within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Readers are cautioned that assumptions used in the preparation of forward-looking information may prove to be incorrect. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. The Corporation undertakes any obligation to update or revise any forward-looking statements to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Trading in the securities of the Corporation should be considered highly speculative.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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