Canadian securities regulators issue additional guidance related to oil and gas disclosure
Calgary – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-345 Disclosure of Abandonment and Reclamation Costs in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and Related Forms, which summarizes certain information and requirements in recently amended NI 51-101 and related forms.
“In response to numerous inquiries concerning disclosure of abandonment and reclamation costs specified in National Instrument 51-101, the CSA has published this notice to assist reporting issuers and their independent qualified reserves evaluators or auditors in the preparation of compliant oil and gas disclosure,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers.
This notice is particularly timely as the majority of reporting issuers engaged in oil and gas activities have December 31st financial year-ends and are currently preparing their annual oil and gas disclosure.
CSA Staff Notice 51-345 is available on various CSA members’ websites.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co‑ordinates and harmonizes regulation for the Canadian capital markets.
For more information:
| Kristen Rose Ontario Securities Commission 416-593-2336 |
Mark Dickey Alberta Securities Commission 403-297-4481 |
| Richard Gilhooley British Columbia Securities Commission 604-899-6713 |
Sylvain Théberge Autorité des marchés financiers 514-940-2176 |
| Ainsley Cunningham Manitoba Securities Commission 204-945-4733 |
Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021 |
| Tanya Wiltshire Nova Scotia Securities Commission 902-424-8586 |
Janice Callbeck Office of the Superintendent of Securities P.E.I. 902-368-6288 |
| Don Boyles Office of the Superintendent of Securities Newfoundland and Labrador 709-729-4501 |
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466 |
| Shamus Armstrong Nunavut Securities Office 867-975-6587 |
Tom Hall Northwest Territories Securities Office 867-873-7490 |
| Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160 |
NT3
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