AIM-quoted oil and gas explorer Range Resources has confirmed that it has a commercial discovery on its hands at the North Chapman Ranch field in Nueces County, Texas.There are gross commercially recoverable reserves of 215bcf of gas, 15.9 million barrels of oil and 15.5m barrels of natural gas liquids. The proved element of these reserves is 33.3bcf of gas, 2.5m barrels of oil and 2.4m barrels of natural gas liquids. Range owns 25% of one well and 20% of the others. This means that the proved reserves attributable to Range are 8.3bcf of gas, 0.6m barrels of oil and 0.6m barrels of natural gas liquids. The cash flow relating to these interests, after a 10% discount rate, is $36m.