Building a world of
resilient communities.

MAIN LIST

 

Canada Raises Reserve Reporting Standards

Canadian investors can expect to see more details on oil and natural gas reserves reporting in annual reports starting this spring because Canadian securities commissions have adopted uniform, updated reporting standards for public companies.

The Alberta Securities Commission (ASC) developed the proposal for the Canadian Securities Administrators (CSA). CSA is an umbrella organization representing 13 provincial and territorial securities commissions.

Public oil and gas companies whose stock is traded on exchanges in Canada must hire independent reserves evaluators or auditors to report on their oil and gas reserves and related future net revenue estimates.

A summary of that report along with other information about reserves is to be filed publicly every year. Stephen Murison, ASC vice-chairman, helped draft the proposals that led to the new regulations, effective Sept. 30, 2003.

The first reports to be filed under the new regulations will begin appearing in March and April, Murison said. The filing is due at the same time as the companies' audited annual financial statements.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Make connections via our GROUPS page.
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

Tags:  

Energy Crunch: The end of business as usual for fossil fuels?

It’s the end of business as usual for fossil fuels. That’s …

Peak oil notes - April 17

A mid-week update. Oil prices in London have risen this week on concerns …

Climate Panel Stunner: Avoiding Climate Catastrophe Is Super Cheap — But Only If We Act Now

The U.N. Intergovernmental Panel on Climate Change (IPCC) has just issued …

Kashagan – Back to the drawing board?

The recent shutdown of Kashagan oil field in Kazakhstan represents one …

King Coal Is Dying a Slow Death in America

In cities choked by pollution and a world coming to grips with the realities …

Peak Oil Review - Apr 14

A weekly review including: Oil and the Global Economy, The Middle East & …

Did crude oil production actually peak in 2005?

Haven't we been hearing from the oil industry and from government and …