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!  

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

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Energy Crunch: a clean energy revolution?

Will 2015 prove to be a tipping point in the journey to a zero carbon energy …

With Corporate Energy, We're Stuck in the Dark Ages – Let's Switch to Public Ownership

It is clear that Britain has an energy problem.

Peak Oil Notes - Mar 5

A midweek update. Oil prices have been volatile this week as traders attempt …

The Paradox of Oil: The Cheaper it is, the More it Costs

While the exact timing of the current fall in prices may have come as a …

Stranded Assets in Oil and Gas a Reality

Though climate change will no doubt prove to be one aspect of stranded …

IEA report: US shale oil growth practically zero in 2017

US growth is seen to decline to a meagre 160 kb/d by 2017. That is plausible …

Richard Heinberg on Our Renewable Future

Richard Heinberg discusses our renewable future and how to get there.