BCN2010/37 Advance Notice of Amendments to National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, its Forms, Companion Policy and Related Consequential Amendments [BCN]

Sign-up for updates about BCSC Policy Publications.

Published: 2010-10-15

Related Documents

Document
List of Commenters Oct 2010
Response to Comments Oct 2010
Summary of Changes Oct 2010
CSA Notice Oct 2010

Concurrently Published

Document
41-101F1 41-101F1 Information Required in a Prospectus [F Amendment Advance Notice - Lapsed]
41-101F1 41-101F1 General Prospectus Requirements [F Blackline Amendment Advance Notice - Lapsed]
51-101 51-101 Standards of Disclosure for Oil and Gas Activities [NI Amendment Advance Notice - Lapsed]
51-101 51-101 Standards of Disclosure for Oil and Gas Activities [NI Blackline Amendment Advance Notice - Lapsed]
51-101CP 51-101CP Standards of Disclosure for Oil and Gas Activities [CP Amendment Advance Notice - Lapsed]
51-101CP 51-101CP Standards of Disclosure for Oil and Gas Activities [CP Blackline Amendment Advance Notice - Lapsed]
51-101F1 51-101F1 Statement of Reserves Data and Other Oil and Gas Information [F Amendment Advance Notice - Lapsed]
51-101F3 51-101F3 Report of Management and Directors on Oil and Gas Disclosure [F Amendment Advance Notice - Lapsed]
51-101F4 51-101F4 Notice of Filing of 51-101F1 Information [F Amendment Advance Notice - Lapsed]
51-101F1 51-101F1 Statement of Reserves Data [F Blackline Admendment Advance Notice - Lapsed]
51-101F3 51-101F3 Report of Management and Directors on Oil and Gas Disclosure [F Blackline Amendment Advance Notice - Lapsed]
51-101F4 51-101F4 Notice of Filing of 51-101F1 Information [F Blackline Amendment Advance Notice - Lapsed]

In the attached advance notice, the Canadian Securities Administrators announce the expected adoption, effective December 30, 2010, of amendments to:

  • 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
  • National Instrument 41-101 General Prospectus Requirements

The purposes of the amendments are to:

  • clarify disclosure practices about resources other than reserves
  • codify existing staff guidance and practice
  • respond to the change from Canadian GAAP to International Financial Reporting Standards

The amendments also prescribe a new form – Form 51-101F4 Notice of Filing of 51-101F1 Information.  This form will now be required when a reporting issuer includes its annual oil and gas filings within its annual information form.  This form provides notice to the market that the reporting issuer has made the required annual oil and gas annual filings.

Questions
You may refer questions to:

Gordon Smith
Senior Legal Counsel, Corporate Finance
British Columbia Securities Commission
(604) 899-6656 or (800) 373-6393 (toll free across Canada)
gsmith@bcsc.bc.ca

Robert Holland
Chief Mining Advisor, Corporate Finance
British Columbia Securities Commission
(604) 899-6719 or (800) 373-6393 (toll free across Canada)
rholland@bcsc.bc.ca


October 15, 2010


Brenda M. Leong
Chair


This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Policies & Instruments or Historical Policies & Instruments sections of the website.