51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor [F - Rescinded]
| Published Date: | 2003-09-26 |
|---|---|
| Effective Date: | 2003-09-30 |
| Rescinded Date: | 2007-12-28 |
| Document(s): |
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Concurrently Published:
FORM 51-101F2
REPORT ON RESERVES DATA
BY
INDEPENDENT QUALIFIED RESERVES
EVALUATOR OR AUDITOR
This is the form referred to in item 2 of section 2.1 of National Instrument 51-101Standards of Disclosure for Oil and Gas Activities("NI 51-101").
1. Terms to which a meaning is ascribed in NI 51-101 have the same meaning in this form.
2. The report on reserves data referred to in item 2 of section 2.1 of NI 51-101, to be executed by one or more qualified reserves evaluators or auditors independent of the reporting issuer, shall in all material respects be as follows:
Report on Reserves Data
To the board of directors of [name of reporting issuer] (the "Company"):
1. We have [audited] [evaluated] [and reviewed] the Company’s reserves data as at [last day of the reporting issuer's most recently completed financial year]. The reserves data consist of the following:
(a) (i) proved and proved plus probable oil and gas reserves estimated as at [last day of the reporting issuer's most recently completed financial year] using forecast prices and costs; and
(ii) the related estimated future net revenue; and(b) (i) proved oil and gas reserves estimated as at [last day of the reporting issuer's most recently completed financial year] using constant prices and costs; and
(ii) the related estimated future net revenue.
2. The reserves data are the responsibility of the Company’s management. Our responsibility is to express an opinion on the reserves data based on our [audit] [evaluation] [and review].
4. The following table sets forth the estimated future net revenue (before deduction of income taxes) attributed to proved plus probable reserves, estimated using forecast prices and costs and calculated using a discount rate of 10 percent, included in the reserves data of the Company [audited] [evaluated] [and reviewed] by us for the year ended xxx xx, 20xx, and identifies the respective portions thereof that we have [audited] [evaluated] [and reviewed] and reported on to the Company's [management/board of directors]:
Independent Qualified Reserves Evaluator or Auditor | Description and Preparation Date of [Audit/ Evaluation/ Review] Report | Location of Reserves (Country or Foreign Geographic Area) | Net Present Value of Future Net Revenue (before income taxes, 10% discount rate |
 | | | AuditedEvaluatedReviewedTotal |
| Evaluator A | xxx xx, 20xx | xxxx | $xxx$xxx$xxx$xxx |
| Evaluator B | xxx xx, 20xx | xxxx | xxxxxxxxxxxx |
| Totals | | | $xxx$xxx$xxx $xxx1 |
1This amount should be the amount disclosed by the reporting issuer in its statement of reserves data filed under item 1 of section 2.1 of NI 51-101,as its future net revenue (before deducting future income tax expenses) attributable to proved plus probable reserves, estimated using forecast prices and costs and calculated using a discount rate of 10 percent (required by section 2 of Item 2.2 of Form 51-101F1).
5. In our opinion, the reserves data respectively [audited] [evaluated] by us have, in all material respects, been determined and are in accordance with the COGE Handbook. We express no opinion on the reserves data that we reviewed but did not audit or evaluate.
6. We have no responsibility to update our reports referred to in paragraph 4 for events and circumstances occurring after their respective preparation dates.
7. Because the reserves data are based on judgements regarding future events, actual results will vary and the variations may be material.
Executed as to our report referred to above:
Evaluator A, City, Province or State / Country, Execution Date [signed]
Evaluator B, City, Province or State / Country, Execution Date
[signed]