Range Resources Ltd is an oil and gas exploration, development and production company. Its roots originally start from 1976 in Ohio. Since then the company was incorporated in Australia in September 1982. Its headquarters are based in Texas.
My interpretation on reading the RNS was that Landau happily paid Forest Gump for 3P figures so he could use them in his spin and rampfest. This lot however seem more sensible and won't pay for something they don't immediately need.
This is an interesting article about how oil reserves are determined and might go some way to explaining why the 84% change is quite misleading due to how the numbers (3P in particular) are acquired.
Why Do Only Some Companies Report 3P Reserves?
Proved (1P) and Proved plus Probable (2P) reserves are commonly used throughout the oil and gas world, but 3P reserve information, Proved plus Probable plus Possible, is relatively scarce. This is due to basic reporting requirements set by… Read More
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