CSA/ACVM Canadian Securities Autorités canadiennes Administrators en valeurs mobilières Canadian Securities Administrators Staff Notice 51-317 National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities Application of Canadian Oil and Gas Evaluation Handbook National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities mandates adherence to the Canadian Oil and Gas Evaluation Handbook (the “COGE Handbook”) in respect of matters such as reserve and resource classification and terminology and reserves evaluation practices. The Society of Petroleum Evaluation Engineers (Calgary Chapter) and The Petroleum Society of the Canadian Institute of Mining, Metallurgy and Petroleum, authors of the COGE Handbook, have published COGE Handbook, Volume 2 entitled “Detailed Guidelines for Estimation and Classification of Oil and Gas Resources and Reserves”, dated November 1, 2005. Volume 2 provides explanation and elaboration on a number of matters set out in Volume 1, including guidance on applying the principles enunciated in Volume 1. Staff of the members of the Canadian Securities Administrators urge reporting issuers with oil and gas activities, and their management, directors, and advisers, to become familiar with the discussion and guidance provided in Volume 2 of the COGE Handbook and to ensure that they apply that information to their reserves evaluation and disclosure practices. The COGE Handbook, including Volume 2, can be obtained from: The Petroleum Society Tel. (403) 237-5112 Suite 720, 500-5 Avenue SW Fax. (403) 262-4792 Calgary, Alberta, T2P 3L5 E-mail infor@petsoc.org Web site http://www.petsoc.org Please refer any questions you may have regarding this notice to the following people: Alberta Securities Commission David Elliott, Senior Petroleum Evaluation Geologist, Corporate Finance: (403) 297-4008 Alex Poole, Legal Counsel, Corporate Finance: (403) 297-4482 Autorité des marchés financiers Pierre Martin, Senior Legal Counsel: (514) 395-0558 ext. 4375 British Columbia Securities Commission Denise Duifhuis, Senior Legal Counsel, Corporate Finance: (604) 899-6792 Greg Gosson, Chief Mining Advisor, Corporate Finance: (604) 899-6519 Ontario Securities Commission Deborah McCombe, Chief Mining Consultant, Corporate Finance: (416) 593-8151 David Surat, Legal Counsel, Corporate Finance: (416) 593-8103 Saskatchewan Financial Services Commission Dean Murrison, Deputy Director: (306) 787-5879 February 24, 2006
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