OPEN RANGE ENERGY CORP. ANNOUNCES 2012 CAPITAL PROGRAM FOCUSED ON MONTNEY LIGHT OIL IN ADDITION TO CONTINUED DEVELOPMENT AT ANSELL/SUNDANCE January 12, 2012 CALGARY, ALBERTA - Open Range Energy Corp. (TSX:ONR) ("Open Range" or the "Company") is pleased to provide an overview of its 2012 capital investment program and initial guidance for 2012 production and funds from operations.

Open Range's Board of Directors has approved an initial 2012 capital investment program totalling $45 million that shifts investment in the near term to the Company's organically generated, 100 percent working interest Montney light oil play at Waskahigan, which has been significantly de