Backer Petroleum Corp. - MRRS Decision

Headnote

Mutual Reliance Review System for Exemptive Relief Applications ­ Issuer deemed to have ceased to be a reportingissuer following the acquisition of all of its outstanding securities by another issuer.

Applicable Ontario Provisions

Securities Act, R.S.O. 1990, c.S.5, as am. s. 83.

IN THE MATTER OF THE SECURITIES LEGISLATION OF

BRITISH COLUMBIA AND ONTARIO

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEW SYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF BACKER PETROLEUM CORP.

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatory authority or regulator (the "Decision Maker") in each of BritishColumbia and Ontario (the "Jurisdictions") has received an application from Backer Petroleum Corp. (the "Filer") for adecision under the securities legislation of the Jurisdictions (the "Legislation") that the Filer be deemed to have ceasedto be a reporting issuer under the Legislation;

AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the "System"),the Executive Director of the British Columbia Securities Commission is the principal regulator for this application;

AND WHEREAS the Filer has represented to the Decision Makers that:

1. The Filer was incorporated under the Company Act (BC) on February 9, 1977 as Backer Resources Ltd.,changing its name to Backer Petroleum Corp. on December 30, 1988;

2. The Filer is a reporting issuer in each of the Jurisdictions and is not in default of any of the requirements of theLegislation;

3. The Filer's authorized capital consists of an unlimited number of common shares (the ("Common Shares") and5,000,000 preferred shares, of which 6,900,044 Common Shares, and no preferred shares, were issued andoutstanding as of April 28, 2000;

4. Pursuant to an offer to purchase dated April 28, 2000 (the "Offer"), Allied Oil & Gas Corp. ("Allied" ) offered topurchase all of the issued and outstanding Common Shares. Over 83% of the Common Shares werepurchased by Allied pursuant to the Offer. Under compulsory acquisition provisions of the BusinessCorporations Act (Alberta), Allied acquired the balance of the Common Shares and became the Filer's solesecurityholder;

5. The Filer has no other securities, including debt securities, outstanding;

6. The Common Shares of the Filer were de-listed from The Toronto Stock Exchange following the close oftrading on September 18, 2000, and no securities of the Filer are listed or quoted on any exchange or market;and

7. The Filer does not intend to seek public financing by way of an offering of its securities;

AND WHEREAS under the System, this MRRS Decision Document evidences the decision of each DecisionMaker (collectively, the "Decision");

AND WHEREAS each of the Decision Makers is satisfied that the test contained in the Legislation that providesthe Decision Maker with the jurisdiction to make the Decision has been met;

THE DECISION of the Decision Makers under the Legislation is that the Filer is deemed to have ceased to bea reporting issuer under the Legislation.

DATED November 9th, 2000.

"Derek Patterson"