NI 51-101Standards of Disclosure for Oil and Gas A

NationalInstrument51-101StandardsofDisclosureforOilandGasActivitiesTableofContentsPart1APPLICATIONANDTERMINOLOGY1.1Definitions1.2COGEHandbookDefinitions1.3AppliestoReportingIssuersOnly1.4MaterialityStandardPart2ANNUALFILINGREQUIREMENTS2.1ReservesDataandOtherOilandGasInformation1.StatementofReservesDataandOtherInformation2.ReportofIndependentQualifiedReservesEvaluatororAuditor3.ReportofManagementandDirectors2.2Repealed(December30,2010)2.3InclusioninAnnualInformationForm2.4ReservationinReportofQualifiedReservesEvaluatororAuditorPart3RESPONSIBILITIESOFREPORTINGISSUERSANDDIRECTORS3.1Interpretation3.2ReportingIssuertoAppointIndependentQualifiedReservesEvaluatororAuditor3.3ReportingIssuertoMakeInformationAvailabletoQualifiedReservesEvaluatororAuditor3.4CertainResponsibilitiesofBoardofDirectors3.5ReservesCommittee3.6Repealed(September19,2005)Part4MEASUREMENT4.1Repealed(December30,2010)4.2ConsistencyinDatesPart5REQUIREMENTSAPPLICABLETOALLDISCLOSURE5.1ApplicationofPart55.2DisclosureofReservesandOtherInformation5.3ClassificationofReservesandofResourcesOtherthanReserves5.4OilandGasReservesandSales5.5NaturalGasBy-Products5.6FutureNetRevenueNotFairMarketValue5.7ConsentofQualifiedReservesEvaluatororAuditor5.8DisclosureofLessThanAllReserves5.9DisclosureofResourcesOtherthanReserves5.10AnalogousInformation-(ii)5.11NetAssetValueandNetAssetValueperShare5.12ReserveReplacement5.13Netbacks5.14BOEsandMcfGEs5.15FindingandDevelopmentCosts5.16RestrictedDisclosure:SummationofResourceCategories5.17DisclosureofHigh-CaseEstimatesofReservesandofResourcesOtherthanReservesPart6MATERIALCHANGEDISCLOSURE6.1MaterialChangefromInformationFiledunderPart2Part7OTHERINFORMATION7.1InformationtobeFurnishedonRequestPart8EXEMPTIONS8.1AuthoritytoGrantExemption8.2ExemptionforCertainExchangeableSecurityIssuersPart9INSTRUMENTINFORCE9.1ComingIntoForceNationalInstrument51-101StandardsofDisclosureforOilandGasActivitiesPART1APPLICATIONANDTERMINOLOGY11.1Definitions2-InthisInstrument:(a)annualinformationformhasthesamemeaningas“AIF”inNI51-102;(a.1)analogousinformationmeansinformationaboutanareaoutsidetheareainwhichthereportingissuerhasaninterestorintendstoacquireaninterest,whichisreferencedbythereportingissuerforthepurposeofdrawingacomparisonorconclusiontoanareainwhichthereportingissuerhasaninterestorintendstoacquireaninterest,whichcomparisonorconclusionisreasonable,andincludes:(i)historicalinformationconcerningreserves;(ii)estimatesofthevolumeorvalueofreserves;(iii)historicalinformationconcerningresources;(iv)estimatesofthevolumeorvalueofresources;(v)historicalproductionamounts;(vi)productionestimates;or(vii)informationconcerningafield,well,basinorreservoir;(a.2)anticipatedresultsmeansinformationthatmay,intheopinionofareasonableperson,indicatethepotentialvalueorquantitiesofresourcesinrespectofthereportingissuer’sresourcesoraportionofitsresourcesandincludes:(i)estimatesofvolume;(ii)estimatesofvalue;(iii)arealextent;1Fortheconvenienceofreaders,CSAStaffNotice51-324GlossarytoNI51-101StandardsofDisclosureforOilandGasActivitiessetsoutthemeaningsofterms,includingthosedefinedinthisPart,thatareprintedinitalicsinthisInstrument,Form51-101F1,Form51-101F2,Form51-101F3orCompanionPolicy51-101CP.2AnationaldefinitioninstrumenthasbeenadoptedasNI14-101.Itcontainsdefinitionsofcertaintermsusedinmorethanonenationalormultilateralinstrument.NI14-101providesthatatermusedinanationalormultilateralinstrumentanddefinedinthestatuterelatingtosecuritiesoftheapplicablejurisdiction,thedefinitionofwhichisnotrestrictedtoaspecificportionofthestatute,willhavethemeaninggiventoitinthatstatuteunlessthecontextotherwiserequires.NI14-101alsoprovidesthataprovisionorareferencewithinaprovisionofanationalormultilateralinstrumentthatspecificallyrefersbynametoajurisdictionotherthanthelocaljurisdictionshallnothaveanyeffectinthelocaljurisdiction,unlessotherwisestatedinthatnationalormultilateralinstrument.-2-(iv)paythickness;(v)flowrates;or(vi)hydrocarboncontent;(b)BOEsmeansbarrelsofoilequivalent;(c)Repealed(December30,2010);(d)Repealed(December30,2010);(e)Repealed(December30,2010);(f)COGEHandbookmeanstheCanadianOilandGasEvaluationHandbookpreparedjointlybyTheSocietyofPetroleumEvaluationEngineers(CalgaryChapter)andtheCanadianInstituteofMining,Metallurgy&Petroleum(PetroleumSociety),asamendedfromtimetotime;(g)Repealed(December28,2007);(h)effectivedate,inrespectofinformation,meansthedateasatwhich,orfortheperiodendedonwhich,theinformationisprovided;(i)Repealed(December30,2010);(j)forecastpricesandcostsmeansfuturepricesandcoststhatare:(i)generallyacceptedasbeingareasonableoutlookofthefuture;(ii)if,andonlytotheextentthat,therearefixedorpresentlydeterminablefuturepricesorcoststowhichthereportingissuerislegallyboundbyacontractualorotherobligationtosupplyaphysicalproduct,includingthoseforanextensionperiodofacontractthatislikelytobeextended,thosepricesorcostsratherthanthepricesandcostsreferredtoinsubparagraph(i);(k)foreigngeographicareameansageographicareaoutsideNorthAmericawithinonecountryorincludingallorportionsofanumberofc