Notice of Ministerial Approval of Amendments to National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities

NOTICE OF MINISTERIAL APPROVAL OF AMENDMENTS TO
NATIONAL INSTRUMENT 51-101 STANDARDS OF DISCLOSURE FOR OIL AND GAS ACTIVITIES

March 5, 2015

On January 28, 2015, the Minister of Finance approved amendments (the Rule Amendments) made by the Ontario Securities Commission (OSC or Commission) to National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, including:

• 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, and

• New Form 51-101F5 Notice of Ceasing to Engage in Oil and Gas Activities.

The Rule Amendments were made by the Commission on November 4, 2014.

On November 4, 2014, the Commission also adopted changes (the Policy Changes) to Companion Policy 51-101 Standards of Disclosure for Oil and Gas Activities.

The Rule Amendments and the Policy Changes (collectively, the Amendments) were published on the OSC website at http://www.osc.gov.on.ca and in the OSC Bulletin at (2014) 37 OSCB 10771 on December 4, 2014. The Amendments come into force on July 1, 2015. The text of the Amendments is reproduced in Chapter 5 of this Bulletin.