This website is provided to you by Strategic Oil & Gas Ltd. (“Strategic”). By using this website, you agree to be bound by and comply with these terms of service, which are subject to and incorporate any additional terms of service elsewhere on this website. Strategic may change these terms of service at any time without notice. Please check these terms of service periodically for changes. Your continued use of this website following the posting of changes will mean that you agree to be bound by, and will comply with, the changes.
Information on this website is deemed to be provided in Alberta, Canada, and is subject to the laws of Alberta and the laws of Canada applicable therein. By accessing this website you agree that all disputes, controversies, or claims arising out of or in connection with the website shall be subject to the jurisdiction of the courts of the Province of Alberta for final adjudication. By accessing this website from outside of Canada you acknowledge that you do so at your own risk and are responsible for any failure to comply with any local, national or international law.
This website does not constitute an offering under applicable securities legislation. All potential investors should seek independent information and advice from qualified investment professionals. Where any document on this website has been filed in accordance with applicable securities legislation, such documents are not the official versions of Strategic’s securities legislation disclosure documents, and visitors are directed to obtain official copies either from applicable securities regulators at www.sedar.com or from Strategic directly.
Unless otherwise stated, all monetary funds displayed on the website are in Canadian dollars.
REFERENCES TO STRATEGIC
For convenience, the terms “Strategic,” “Company,” “us,” “we” and similar references are used on or with this website to refer collectively to Strategic, its direct and indirect subsidiaries and partnership interests held by Strategic and its subsidiaries, unless the context indicates otherwise.
EXCLUSION OF LIABILITY
Strategic shall not be liable for any claims, expenses, loss or profits or damages (including direct, indirect, special or consequential damages) arising from:
- the use or reliance on information contained in this website;
- any error or omission in such information or failure to update information in a timely manner;
- use of third-party websites linked to this website;
- any Internet software used in connection with this website, computer viruses or other destructive programs encountered as a result of using this website; and
- any other matters related to this website; even if Strategic is made aware of the possibility of such claims, expenses, damages or losses.
You agree to indemnify and hold Strategic, its officers, directors, shareholders, predecessors, successors, assigns, employees, agents, subsidiaries and affiliates, harmless from any demands, loss, liability, claims or expenses (including legal fees), made against Strategic by any third party due to or arising out of or in connection with your use, or inability to make use, of this website or its contents.
COPYRIGHT AND TRADEMARKS
All content displayed on or accessible through the website, including, without limitation, information, news, editorials, documents, presentations, reports, text, charts, photographs, images, graphics, user interfaces, applications, computer software and code (collectively, the “Content”), is owned by Strategic or third parties, and is protected under copyright, trade-mark, and other laws of Canada and of other applicable jurisdictions. You may access and download Content made available on the website solely for your personal research and private study. You may not access, download or use Content for any other purpose, including, without limitation, re-publication, unauthorized downloading, retransmission, copying, modification, or other exploitation of the website or Content. Failure to comply with these terms and conditions may violate copyright, trademark and other laws and may result in legal action. In addition, you may not hyperlink to or frame the website without the prior written consent of Strategic.
The Internet is not a fully secure medium and any communication may be lost, intercepted, corrupted or altered. Strategic is not liable for any damages resulting from the transmission, interception, corruption, or alteration of communications to or from this website. Any information voluntarily given to Strategic via the website is deemed to be given consensually. You agree that the information you provide to Strategic is non-confidential, truthful, legal and does not violate the rights of others and you consent to Strategic using, distributing, reproducing or disclosing it for any purpose. Except as required by applicable laws, Strategic undertakes no obligation of any kind concerning the information you provide to Strategic via this website. The information is deemed to be non-proprietary and Strategic may use any ideas, concepts, know-how or techniques for any purpose.
Strategic does collect statistical information about visits to this website including hits, visits, pageviews, most frequented pages, most popular pages, time of day, day of week and date.
All quotes are delayed at least 20 minutes unless otherwise stated and are believed to be accurate but are not guaranteed or warranted by Strategic. Potential investors should seek independent information and advice from qualified professionals prior to investment.
Strategic’s websites contain certain forward-looking information and forward-looking statements (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements and other information are based on Strategic’s current expectations, estimates, projections and assumptions that were made by Strategic in light of information available at the time the statement was made and consider Strategic’s experience and its perception of historical trends, including expectations and assumptions concerning: the accuracy of reserves and resources estimates; commodity prices and interest rates; capital efficiencies and cost-savings; applicable royalty rates and tax laws; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned development; the availability and cost of labour and services; the timing and results of future development; and the receipt, in a timely manner, of regulatory and third-party approvals. In addition, all other statements and other information that address expectations or projections about the future, and other statements and information about Strategic’s strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results, future financing and capital activities, and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements may be identified by words such as “objective”, “targets”, “estimates”, “anticipated”, “plans”, “goal”, “vision”, “strategy”, “expects”, “proposed”, “intention”, “continue”, “may”, “will”, “outlook”, “opportunity”, “pursuing”, “illustrative”, “projected”, “scheduled”, “believes”, “indicates”, “could”, “focus”, “should”, “would” and variations of such words and similar expressions.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Strategic. Strategic’s actual results may differ materially from those expressed or implied by its forward-looking statements, so users are cautioned not to place undue reliance on them. Risks, uncertainties and other factors that could influence the financial and operating performance of Strategic include, but are not limited to, changes in general economic, market and business conditions, such as commodity prices and interest rates; fluctuations in supply and demand for Strategic’s products; the successful and timely implementation of capital projects, including growth projects; competitive actions of other companies, including increased competition from other oil and gas companies or from companies that provide alternative sources of energy; labour and material shortages; actions by government authorities, including the imposition or reassessment of taxes or changes to fees and royalties, and changes in environmental and other regulations; the ability and willingness of parties with whom we have material relationships to perform their obligations to us; the occurrence of unexpected events such as fires, equipment failures and other similar events affecting Strategic or other parties whose operations or assets directly or indirectly affect Strategic; our ability to find new oil and gas reserves that can be developed economically; the accuracy of Strategic’s reserves, resources and future production estimates; the cost of compliance with current and future environmental laws; risks and uncertainties associated with closing a transaction for the purchase or sale of an oil and gas property, including estimates of the final consideration to be paid or received, and the receipt of any required regulatory or other third-party approvals outside of Strategic’s control that are customary to transactions of this nature; the accuracy of cost estimates, some of which are provided at the conceptual or other preliminary stage of projects and prior to commencement or conception of the detailed engineering that is needed to reduce the margin of error and increase the level of accuracy; the ability to secure adequate product transportation; and risks associated with existing and potential future lawsuits and regulatory actions. The foregoing important factors are not exhaustive.
Although Strategic believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Strategic’s most recently filed Annual Information Form, Management’s Discussion and Analysis, and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Strategic or by referring to Strategic’s profile on SEDAR at www.sedar.com.
Except as required by applicable securities laws, Strategic disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
NON-GAAP FINANCIAL MEASURES
Certain financial measures on Strategic’s websites are not prescribed by Canadian generally accepted accounting principles (“GAAP”). Non-GAAP measures presented do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. Therefore, these non-GAAP measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Non-GAAP measures are included because management uses the information to analyze operating performance, leverage and liquidity and therefore may be considered useful information by investors. Non-GAAP measures are defined and reconciled in Strategic’s most recent Management’s Discussion and Analysis filed with securities regulatory authorities available at www.sedar.com.
DISCLOSURE OF OIL AND GAS RESERVES AND OTHER OIL AND GAS INFORMATION
The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. Estimates of future net revenue do not represent fair market value.
Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. Unrisked prospective resources are not risked for chance of development or chance of discovery. If a discovery is made, there is no certainty that it will be developed or, if it is developed, there is no certainty as to the timing of such development. “Risked prospective resource” means geologically risked.
Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters, or a lack of markets. There is no certainty that it will be commercially viable to produce any portion of the contingent resources. For movement of contingent resources to reserves categories, all projects must have an economic depletion plan and may require, among other things, additional delineation drilling, regulatory applications, or sanction from Strategic’s Board of Directors and any joint venture owners to proceed with development.
Discovered petroleum initially-in-place is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of discovered petroleum initially-in-place includes production, reserves and contingent resources; the remainder is unrecoverable. A recovery project cannot be defined for these volumes of discovered petroleum initially-in-place at this time. There is no certainty that it will be commercially viable to produce any portion of the resources.
That quantity of petroleum that is estimated, on a given date, to be contained in accumulations yet to be
discovered. The recoverable portion of undiscovered petroleum initially-in-place is referred to as prospective resources; the remainder is unrecoverable.
This website incorporates the term barrels of oil equivalent (“boe”), which is calculated on an energy equivalence basis whereby one barrel of crude oil is equivalent to six thousand cubic feet of natural gas (1 bbl : 6 Mcf). Readers are cautioned that the term boe may be misleading, particularly if used in isolation. This measure is primarily applicable at the burner tip and does not represent value equivalence at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.
Strategic also discloses netbacks in this website. Netbacks per boe are calculated by deducting from the sales price associated royalties, operating and transportation costs.