zdas04,
I probably responded a little fast, but it's always been interesting to me to see where different people and jurisdictions separate a gas field from a gas condensate field from an oil field. As you say it can affect finance, how it is regulated, how it is taxed etc and GOR / CGR is not as precise as it might be, but is the best we have. If there is one thing about HC fields it is that everything keeps changing and as the GOR changes over time it can affect the physical aspect as well as the regulatory one.
For me a GOR of 100,000 as the upper limit for an oil system is rather high, but I can easily accept that this is a definition now set in stone.
IMHO, a GOR of something less than 5,000 is an oil field, 5 - 20,000 is a gas condensate field and > 20,000 is a gas well, but if in whatever jurisdiction the OP resides there are different set definitions then that's what you go with.
My motto: Learn something new every day
Also: There's usually a good reason why everyone does it that way