Reserves and Resources Committee

The Reserves and Resources Committee has responsibility for the functions set out below as well as any other functions by applicable laws and regulations. The Committee shall perform the duties required of a Reserves Committee under National Instrument 51-101. The Committee’s responsibilities include:

 (a)       General: The Committee shall be responsible, in consultation with management, for recommending to the Board the appointment of the independent reserves evaluator(s) and for oversight of the independent reserves/resources evaluator(s), including the work of the independent reserves/resources evaluator(s) in preparing the evaluation of the Corporation's reserves/resources data.

(b)       Scope: The Committee shall consider, in consultation with the independent reserves/resources evaluator(s) and management, the scope of evaluation and plan of the independent reserves/resources evaluator(s).

(c)       Resolution of Disagreements: The Committee shall resolve any disagreements between management and the independent reserves/resources evaluator(s) as to reserves/resources reporting matters brought to its attention.

(d)       Meetings: The Committee shall meet separately with the independent reserves/resources evaluator(s) and management, as necessary or appropriate, to discuss any matters that the Committee or either of the independent reserves/resources evaluator(s) or management believes should be discussed privately with the Committee.

The Committee shall meet separately with the independent reserves/resources evaluator(s) at least annually to determine whether there were any restrictions whether or not such restrictions were placed on the evaluator(s) by management that affected their ability to report without reservation.

The current members of the Reserves and Resources Committee are:

1.      Mr. Bill Watson – Chairman

2.      Mr. Phillippe Laborde

3.      Mr. Pade Durotoye

 

Board Committees