Salamander Exempt from Canadian Oil, Gas Reporting Obligations
Salamander Energy plc announced that the securities commissions of the provinces of Alberta and British Columbia have issued a decision document (Decision) which has the effect of granting Salamander exemptive relief from the disclosure requirements contained in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101).
As a result of the Decision, and provided that certain conditions set out in the Decision are met on an on-going basis, Salamander will not be required to comply with the requirements of NI 51-101 and, accordingly, will not be required to file Form 51-101F1 Statement of Reserves Data and Other Oil and 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, Salamander is permitted, pursuant to the Decision, to provide disclosure in respect of its oil and gas activities in the form permitted by, and in accordance with, the reporting requirements of the Financial Services Authority of the United Kingdom and the ongoing requirements of the London Stock Exchange (collectively, the UK Requirements). Salamander is required to file such disclosure with the appropriate Canadian securities commissions as soon as practicable after such disclosure is filed pursuant to the UK Requirements. Investors should be aware that Salamander's future disclosure relating to its oil and gas activities will comply with the UK Requirements applicable to Salamander rather than NI 51-101.
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