For Immediate Release
November 5, 2015
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:
British Columbia Securities Commission
Alberta Securities Commission
Ontario Securities Commission
Autorité des marchés financiers
Manitoba Securities Commission
Financial and Consumer Services
Commission, New Brunswick
Nova Scotia Securities Commission
PEI Securities Office
Office of the Attorney General
Office of the Superintendent of Securities
Newfoundland and Labrador
Office of the Yukon Superintendent
Nunavut Securities Office
Financial and Consumer Affairs
Authority of Saskatchewan