News Releases
Canadian Regulators enact Amendments to Oil and Gas Disclosure Rules
Dec 28, 2007
The Canadian Securities Administrators (CSA) today announced that amendments to National Instrument 51-101 (NI 51-101) Standards of Disclosure for Oil and Gas Activities, its related forms and its companion policy have been enacted.
The amendments provide revised standards for the disclosure of resources. The amendments also modify, and in some instances, streamline annual filing requirements and other requirements of NI 51-101.
“Since it was implemented in September 2003, NI 51-101 has been recognized as providing Canada with one of the finest oil and gas disclosure regimes in the world,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “Through our review and feedback from the market, we identified areas where the rule could be improved. These amendments address these areas and make NI 51-101 more meaningful and understandable to investors.”
The amended NI 51-101, its forms and its companion policy have been posted to several 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.
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For more information:
| Mark Dickey Alberta Securities Commission 403-297-4481 |
Ainsley Cunningham Manitoba Securities Commission 204-945-4733 |
| Frédéric Alberro Autorité des marchés financiers 514-940-2176 |
Jane Gillies New Brunswick Securities Commission 506 643-7745 |
| Andrew Poon British Columbia Securities Commission 604-899-6880 |
Nicholas A. Pittas Nova Scotia Securities Commission 902-424-6859 |
| Laurie Gillett Ontario Securities Commission 416-595-8913 |
Barbara Shourounis Saskatchewan Financial Services Commission 306-787-5842 |
| Mark Gallant Department of Attorney General Prince Edward Island 902-368-4552 |
Doug Connolly Financial Services Regulation Division Newfoundland and Labrador 709-729-2594 |
| Fred Pretorius Yukon Securities Registry 867-667-5225 |
Jennifer MacIsaac Nunavut Securities Registry 867-975-6591 |
| Donald MacDougall Securities Registry Northwest Territories 867-920-8984 |