Legal Notice
Information contained in this web site is for information purposes only. The web site and the information (including changes to the terms herein) may be changed or updated from time to time without notice. In consideration for using Petro Energy Corp.'s web site, the visitor agrees to hold Petro Energy Corp. and its affiliates and subsidiaries, and their respective directors, officers, employees and agents harmless against any claims for damages or costs or any loss of any kind arising out of the access to or use of this web site or any information contained in or obtained through this web site. The information contained in this web site is deemed to be provided in Alberta and is subject to Alberta law and the laws of Canada applicable therein. If you access this web site from outside of Canada, you do so at your own risk and are responsible for compliance with local, national or international laws including, without limitation, securities laws and import and export laws.
Forward-Looking Statements
This information contains forward-looking statements that adhere to applicable securities laws.
Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the outlook for commodity markets and capital markets, the performance of producing wells and reservoirs, and the regulatory and legal environment.
Many of these factors can be difficult to predict. As a result, the forward-looking statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements.
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Contacting the Website
If you have any questions about this privacy statement, the practices of this site, or your dealings with this Web site, please contact info@petroenergycorp.com
Legal Disclaimers, Copyright and Trademarks
All material found in the pages of this website is protected under the copyright laws of Canada and of other countries. All trademarks, trade names and service marks of Petro Energy Corp. are held under copyright laws and any unauthorized downloading, re-transmission, re-publication or other copying modification of such items may result in legal action.
COGEH Reserve Definitions
Proved Reserves
Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. There is at least a 90 percent probability that recovered reserves will equal or exceed the assigned proved reserves.
Probable Reserves
Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. There is at least a 50 percent probability that the quantities recovered will equal or exceed the sum of the assigned proved plus probable reserves. As such, under the definitions of NI 51-101, the proved plus probable reserves represent the “best estimate” of recoverable reserves.
Possible Reserves
Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. It is unlikely that the actual remaining quantities recovered will exceed the sum of the estimated proved plus probable plus possible reserves.
"boe" Presentation
The term “barrels of oil equivalent” (boe) may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions on this website are derived by converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil.
