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Securities Law

BCN 2007/40 - Adoption of Amendments to National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, related forms and companion policy [BCN - Lapsed]

Published Date: 2007-12-21
Rescinded Date: 2012-05-30
Related Document(s):

Concurrently Published:

Effective December 28, 2007, the Commission and the other members of the Canadian Securities Administrators (the CSA or we) have adopted amendments (the amendments) to

  • National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101)
  • Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information
  • Form 51-101F2 Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor
  • Form 51-101F3 Report of Management and Directors on Oil and Gas Disclosure (collectively, the Forms)
  • Companion Policy 51-101CP Standards of Disclosure for Oil and Gas Activities (51-101CP)

Prior publications
We published for comment the proposed amendments to NI 51-101, the Forms, and 51-101CP on January 19, 2007. On October 12, 2007, we published advance notice that, subject to government approval, we expected to adopt the amendments to NI 51-101, the Forms, and 51-101CP effective December 28, 2007.

Substance and purpose of the Amendments to the Instrument
The amendments to NI 51-101, the Forms, and 51-101CP:

1. simplify disclosure requirements that are burdensome to issuers and provide little useful information to investors.

2. enhance an issuer's voluntary disclosure in its annual filing about its oil and gas activities.


Questions
You may refer questions to:

Gordon Smith
Senior Legal Counsel, Corporate Finance,
British Columbia Securities Commission
(604) 899-6656
(800) 373-6393 (in B.C. and Alberta)
gsmith@bcsc.bc.ca

December 21, 2007

 


Douglas M. Hyndman
Chair

 

Ref:

National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities
Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information
Form 51-101F2 Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor
Form 51-101F3 Report of Management and Directors on Oil and Gas Disclosure
Companion Policy 51-101CP Standards of Disclosure for Oil and Gas Activities
BCN 2007/30 Advance Disclosure of Amendments to National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities

 

This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website atwww.bcsc.bc.cain the section Securities Law & Policy: Policies & Instruments.