Canadian securities regulators issue additional guidance related to oil and gas disclosure

CSA

Calgary - The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-345 Disclosure of Abandonment and Reclamation Costs in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and Related Forms, which summarizes certain information and requirements in recently amended NI 51-101 and related forms.

"In response to numerous inquiries concerning disclosure of abandonment and reclamation costs specified in National Instrument 51-101, the CSA has published this notice to assist reporting issuers and their independent qualified reserves evaluators or auditors in the preparation of compliant oil and gas disclosure," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers.

This notice is particularly timely as the majority of reporting issuers engaged in oil and gas activities have December 31st financial year-ends and are currently preparing their annual oil and gas disclosure.

CSA Staff Notice 51-345 is available on various CSA members' websites.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514-940-2176

Alberta Securities Commission

Mark Dickey

403-297-4481

British Columbia Securities Commission

Richard Gilhooley

604-899-6713

Financial and Consumer Affairs, Authority of Saskatchewan

Shannon McMillan

306-798-4160

Financial and Consumer Services Commission, New Brunswick

Andrew Nicholson

506-658-3021

Financial Services Regulation Div., Newfoundland and Labrador

Don Boyles

709--729-4501

Manitoba Securities Commission

Ainsley Cunningham

204-945-4733

Northwest Territories Securities Office

Tom Hall

867-873-7490

Nova Scotia Securities Commission

Tanya Wiltshire

902-424-8586

Nunavut Securities Office

Shamus Armstrong

867-975-6587

Office of the Superintendent of Securities, P.E.I.

Janice Callbeck

902-368-6288

Office of the Yukon Superintendent of Securities

Rhonda Horte

867-667-5466

Ontario Securities Commission

Kristen Rose

416-593-2336