Abbreviations

bbl	barrel
bcf	billion cubic feet
boe	barrels of oil equivalent
boe/d	barrels of oil equivalent per day
bbl/d	barrels per day
mbbl	thousand barrels
mboe	thousand barrels of oil equivalent
mcf	thousand cubic feet
mcf/d	thousand cubic feet per day
mmbbl	million barrels
mmboe	million barrels of oil equivalent
mmcf	million cubic feet
mmcf/d	million cubic feet per day
mstb	thousand stock tank barrels
ARTC	Alberta Royalty Tax Credit
NGL	natural gas liquids
RLI	reserve life index (in years)
WTI	West Texas Intermediate

Definitions

Boe

Barrel of oil equivalent, determined on the basis that 6,000 cubic metric feet (mcf) of natural gas is equivalent to one barrel of oil.

Crown Royalty

The government's share of a property's production irrespective of any cost of production.

Established Reserves

Reserves defined as proven reserves plus 50% of probable reserves.

Netback

The amount received from the sale of a barrel of oil or barrel of oil equivalent after deduction of operating costs and royalty payments.

Net production

The working interest share of gross production.

Probable reserves

Those reserves that analysis suggests exist and whose future recovery, under current technology, is highly likely.

Proved reserves

Those reserves estimated as recoverable with a high degree of certainty under current technology and existing economic conditions.

Working interest

The interest in a lease that carries with it the rights and obligations to develop and operate an oil or natural gas property.