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Note: 30 Sep 2003 ? The following is 51-101F2 as it was initially implemented. This version of 51-101F2 is no longer current. FORM 51-101F2 REPORT ON RESERVES DATA BY INDEPENDENT QUALIFIED RESERVES

How to fill out form 51-101f1statement of reserves

How to Fill Out Form 51-101f1 Statement of Reserves:

1. Begin by carefully reading and understanding the instructions provided with the form. This will ensure that you have a clear understanding of what information needs to be provided and how it should be presented.
2. Gather all the necessary data and documents required to complete the form. This may include information on reserves, production volumes, and any changes or updates in the reserves over the reporting period.
3. Start by providing the required general information, such as the reporting period, the name of the company, and the filing date. Ensure that all the information provided is accurate and up-to-date.
4. Fill in the specific details about the reserves, such as the location, classification, and status. This includes providing detailed information on reserves, including their size, category, and estimated recovery factors.
5. Include any additional disclosures or explanations that may be required based on the specific reserves being reported. This could include information on contingent resources or prospective resources.
6. Review the completed form for any errors or omissions before submitting it. Make sure that all the information provided is consistent and supported by appropriate documentation.

Who Needs Form 51-101f1 Statement of Reserves:

1. Companies in the oil and gas industry that are engaged in the exploration, development, or production of reserves are typically required to file Form 51-101f1 Statement of Reserves. This form is mandated by securities regulators in jurisdictions such as Canada.
2. The form is used to disclose information on reserves to investors, stakeholders, and regulatory bodies. It provides transparency and helps in evaluating the economic value and potential of a company's reserves.
3. Companies involved in public offerings, including initial public offerings, or those listed on stock exchanges, may be required to file this form as part of their regulatory obligations.
4. The form is important for regulatory compliance and is used to ensure that companies provide accurate and reliable information about their reserves. This helps in maintaining investor confidence and making informed investment decisions.
5. Companies operating in other countries may have similar reporting requirements specific to their jurisdiction. It is important to consult with legal and accounting professionals to ensure compliance with applicable regulations.

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