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:  

Solar Warriors vs. the Black Snake of Tar Sands

This past week, Henry Red Cloud, a descendent of Chief Red Cloud and …

Peak Oil Notes - Apr 24

It has been an active week for the oil and gas markets as the Ukrainian …

Fracking - headlines

•Marcellus shale legacy wells showing increasing depletion rates …

UN Panel Looks to Renewables As the Key to Stabilizing Climate

In its latest report, the IPCC makes a strong case for a sharp increase in …

The EIA is seriously exaggerating shale gas production in its drilling productivity report

The EIA is the elephant in the room when it comes to energy statistics. Its …

Peak Oil Review - Apr 21

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

Those Fracking Lies

A review of Snake Oil: How Fracking’s False Promise of Plenty …