Bibliographic record
Abstract
Abstract The Canadian Securities Administrators (CSA) has proposed new guidelines governing the annual reporting of oil and gas reserves for Canadian companies. The guidelines require disclosure of both Proved and Probable reserves and associated value; inclusion of Possible reserves information is optional. Reserve disclosures are key criteria to establish relative company stock value. It is thus instructive to compare the CSA regulations to existing U.S. Securities and Exchange Commission (SEC) rules and further to guidelines endorsed by the Society of Petroleum Engineers (SPE). The CSA mandates disclosure of Proved volumes and associated future net revenues using two economic criteria: a forecast cost and prices scenario ("forecast case") and a constant cost and prices sensitivity scenario ("flat case"). The SEC Proved reserve is comparable to the "flat case" Proved reserve quantities in most instances. The CSA guidelines for Probable and Possible reserves conform closely to the current SPE published criteria. While recognizing probabilistic reserve assessments, the CSA has adopted the SPE guidance that reserves should not be aggregated beyond the "field" level using probabilistic summations. The CSA may allow so-called "cross-border issuers", those Canadian companies also listed on USA stock exchanges, the option to solely follow SEC constraints. SEC regulations specifically prohibit disclosure of Probable and Possible reserves in 10K filings but many U.S. companies refer to additional resource potential in "forward looking statements" in their annual reports. Canadian "cross-border issuers" may not have similar latitude. Unique to the Canadian regulations are rules regarding establishment of an internal company reserves committee and use of a qualified independent evaluator to audit assessment procedures and assets. Will the new CSA rules improve, or impair, the ability of Canadian companies to compete for investment dollars? Further, the Sarbanes-Oxley Act on CEO/CFO certification requirements may have some unique implications for Canadian oil and gas companies.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.021 | 0.055 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.000 | 0.002 |
| Bibliometrics | 0.008 | 0.007 |
| Science and technology studies | 0.010 | 0.003 |
| Scholarly communication | 0.016 | 0.003 |
| Open science | 0.007 | 0.004 |
| Research integrity | 0.008 | 0.006 |
| Insufficient payload (model declined to judge) | 0.026 | 0.005 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".