Oil and Gas Securities Regulation and Reporting: National Instrument 51-101
Notice bibliographique
Résumé
Abstract The prime assets of an oil and gas company are its reserves and resources; they are the most important information about a company, and are the basis on which capital is raised to carry out its activities. A reporting issuer is a company that sells securities on the open market, but not necessarily on an exchange. Canadian National Instrument 51–101 (NI 51–101) governs the disclosure that is required of a reporting issuer. It has been in force since September 2003 and mandates the disclosure of Proved and Probable reserves and allows the disclosure of other categories of resources by reporting issuers. This paper provides a background to the securities regulation and regulatory reporting regime of NI 51–101, including recent amendments. It is not a substitute for the expert advice that should be sought by anyone attempting to fulfill securities regulatory requirements. Some trends and issues on oil and gas reserves and resource estimation and disclosure in Canada and the international arena are also discussed. Introduction The ability to raise money in the public market, to start or continue the activities of a company, carries with it a responsibility to report on these activities to investors. Reporting or "disclosure" requirements are prescribed by securities regulators and apply to all such companies. Because of the importance to the Canadian economy of the extractive industries, oil and gas and mining companies are required to provide additional information beyond that generally required. For the oil and gas industry, new securities legislation, National Instrument 51–101, Standards of Disclosure of Oil and Gas Activities (NI 51–101), was implemented in 2003, replacing the previous legislation, National Policy 2B. Some recent amendments, mainly a reduction in reporting requirements, came into force in December 2007. The Alberta Securities Commission has been administering NI 51–101 since its inception. NI 51–101 reporting is only one of the many reporting requirements that a company is required to fulfill. A brief overview of securities regulation is given here to provide a context for NI 51–101 reporting within the general framework of securities regulation. This is not a substitute for the expert advice that should be sought by anyone attempting to fulfill securities regulatory requirements. The Canadian Oil and Gas Securities Market The Canadian oil and gas securities market is one of the largest of its kind in the world, and about 50% of the world's public oil and gas companies are listed on TSX/TSXV. The number of listed oil and gas companies on the TSX website as of December 31, 2007 was:Canadian TSX/TSXV 424US (NYSE, AMEX, NasDaq) 183LSE-AIM 140A number of reporting issuers trade on other venues than the TSX/TSXV, and an estimated 538 reporting issuers are currently expected to make NI 51–101 annual filings in 2008. Securities Regulation Purpose Securities regulators are responsible for the administration of securities laws in Canada, which includes: Developing, implementing and maintaining securities laws and policies.Regulating primary and secondary market trading through the closed system.Enforcement of securities laws.Educating and communicating with stakeholders and the public.
Récupéré en direct depuis OpenAlex et désinversé. Les résumés ne sont pas conservés dans cette base de données : les index inversés représentent 8,6 Go des 9,3 Go de texte de la base, et le serveur dispose de 13 Go libres.
Comment cette classification a été obtenuedéplier
Prédiction machine sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Le volet Gemma est une étiquette directe du modèle pour chaque travail de la base, lue sur la notice réduite au titre. Le volet Codex est un classifieur appris des 10 348 étiquettes directes de Codex et calibré sur les taux pondérés de l'échantillon; les champs sans appui suffisant ne portent aucun appel Codex. Le mode candidate est l'union des deux volets; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont pas des étiquettes humaines.
Scores du classifieur distillé par catégorie (deux têtes)
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,046 | 0,086 |
| Méta-épidémiologie (sens strict) | 0,001 | 0,002 |
| Méta-épidémiologie (sens large) | 0,001 | 0,001 |
| Bibliométrie | 0,005 | 0,005 |
| Études des sciences et des technologies | 0,007 | 0,006 |
| Communication savante | 0,013 | 0,003 |
| Science ouverte | 0,007 | 0,003 |
| Intégrité de la recherche | 0,013 | 0,011 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,007 | 0,005 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule source (Gemma direct ou Codex distillé), pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».