Companies listed on the big six markets (Australia (ASX), Canada (TSX), USA (NYSE), UK (LSE Main Market and AIM), Singapore (SGX Main Market and Catalist) and Hong Kong (HKEx)) all have requirements of some form when it comes to reporting oil and gas reserves and resources. The requirements may be specified by the market rules, the market financial regulators, extra-territorial legislation, accounting standards or standards published by technical societies and are usually supported by Government Legislation. The requirements vary considerably and place very different technical and administration demands on oil and gas companies.

This paper provides an engineer's broad brush overview of the various requirements, provides a comparison to SPE PRMS, makes a qualitative comment on the strength and weakness of the exchange rules and ultimately provides some best practice considerations.

This paper can benefit all listed companies who need to know the rules they are required to comply with, can benefit all unlisted companies by giving them an insight into the types of reporting that investors may typically demand and can benefit petroleum professionals by enabling them to know what they must provide.

Keywords:
reserves replacement, upstream oil & gas, reserves evaluation, asset and portfolio management, main market, specific requirement, singapore, adhere, us government, spe 155398
Subjects:
Reserves Evaluation, Asset and Portfolio Management, Reserves replacement, booking and auditing
Copyright 2012, Society of Petroleum Engineers
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