Toscana energy announces 2018 reserves toronto stock exchange tei c gastronomie

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The following tables summarize the Corporation’s crude oil, natural gas liquids and natural gas reserves and the net present values before income taxes of future net revenue for the Corporation’s reserves using forecast prices and costs based on the Reserve Reports. The Reserve Reports have been prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook (the COGE Handbook) and the reserve definitions contained in National Instrument 51-101 – Standards electricity in water pipes of Disclosure for Oil and Gas Activities (“NI 51-101).

All evaluations and reviews of future net revenues are stated prior to any provisions for interest costs or general and administrative costs and after the deduction of estimated future capital 5 gas laws expenditures for wells to which reserves have been assigned. It should not be assumed that the estimates of future net revenues presented in the tables below represent the fair market value of the reserves. There is no assurance that the forecast prices and cost assumptions will be attained and variances could be material. The recovery and reserve estimates of our crude oil, natural gas liquids and natural gas reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual crude oil, natural gas and natural gas liquids reserves may be greater than or less than the estimates provided herein for the fiscal year ended 2018.

Barrel of oil equivalents or BOEs 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. Given the value ratio based on the current price of crude oil as compared gas jeans usa to natural gas is significantly different from the energy equivalency of 6 Mcf: 1 bbl, utilizing a conversion ratio of 6 Mcf: 1 bbl may be a misleading indication of value.

The reserves information contained in this news release have been prepared in accordance with NI 51-101. Complete NI 51-101 reserves disclosure will be included in our Annual Information Form for the year ended December 31, 2018. Listed below are cautionary statements applicable to our reserves information that are specifically required by NI 51-101:

Reserves included herein are stated on a company interest basis (before royalty burdens and including royalty interests) unless noted otherwise as well as on a gross and net basis as defined in NI 51-101. Company interest is not a term defined by NI 51-101 and as such gas dryer vs electric dryer singapore the estimates of Company interest reserves herein may not be comparable to estimates of “gross” reserves prepared in accordance with NI 51-101 or to other issuers’ estimates of company interest reserves.

This news release contains forward ‐ looking statements and forward ‐ looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward ‐ looking statements or information. Forward ‐ looking statements and information are often, but not always, identified 2015 electricity prices by the use of words such as appear, seek, anticipate, plan, continue, estimate, approximate, expect, may, will, project, predict, potential, targeting, intend, could, might, should, believe, would and similar expressions.

More particularly and without limitation, this news release contains forward ‐ looking statements and information concerning the Corporation’s petroleum and natural gas production and reserves. The forward ‐ looking statements and information are based on certain key expectations and assumptions made by management of the Corporation, including expectations and assumptions concerning well production rates and reserve volumes; project development and overall business strategy. Although management of the Corporation believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward ‐ looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information u gas hampton are provided for the purpose of providing information about the current expectations and plans of management of the Corporation relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward ‐ looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to reserves, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition gas prices in michigan; incorrect assessment of the value of acquisitions and failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Accordingly, readers should not place undue reliance on the forward electric utility companies in arizona ‐ looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward ‐ looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward ‐ looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Toronto Stock Exchange (“TSX”). The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.