Teton Wins Exemption from Canadian Reporting Obligations
Teton Energy Corporation has received an exemption from the requirements of securities legislation in British Columbia, Alberta and Ontario, Canada to file a Statement of Reserves Data and Other Oil Gas Information and related Canadian disclosure documents.
The exemption means that Teton will no longer be required to comply with the requirements of National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and will no longer be required to file Form 51-101F1 - Statement of Reserves Data and Other Oil Gas Information, Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor and Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure. In lieu of such filings, Teton will, pursuant to the decision of the Canadian regulators, continue to provide disclosure about its oil and gas activities prepared in accordance with the requirements of the U.S. Securities and Exchange Commission and the American Stock Exchange. Such disclosure can be accessed electronically on the SEDAR website at www.sedar.com. The exemption will be available to Teton for so long as fewer than 10% of Teton's shareholders are resident in Canada and such residents hold less than 10% of Teton's outstanding shares of common stock.
Denver-based Teton Energy Corporation is an independent oil and gas exploration and production company with operations in the Rocky Mountain region of the U.S.
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