Inclusion of Production Entity Information on Royalty Statements – October 17, 2014

Press Release

In 2010, IOGC started rolling out the Monthly Royalty Statements to royalty payors for selected First Nations, and is now sending these statements out to all royalty payors on a monthly basis. These statements contain information on Royalty Entities (RENs) for the Production Periods (PP) of January 2006 to current in order for royalty payors to be aware of the most current assessment value and payments made for each REN–PP.

The Monthly Royalty statements emailed in October 2014 will be revised to include the Production Entity information for each of the RENs.

These Monthly Royalty Statements are comprised of 3 sections:

• Unassessed Report showing the payments received during the month for Royalty Entities (RENs) and their Production Periods (PP) that have not yet been assessed by IOGC.
• Assessed Report showing the payments received, IOGC assessed values, and balances for Royalty Entities and their Production Periods (REN-PP) that have been assessed. All REN–PP that have a non-zero balance are reported until the balance for the REN–PP is brought to zero. REN–PP that are brought to a zero balance in the statement period will be reported on that statement, and will only appear on subsequent statements if the balance becomes underpaid or overpaid.
• Gas and Oil Royalty Statement Data showing the supporting information for the REN–PP displayed in the Assessed report. Each REN–PP has two rows displayed. The “Assessed” row shows the values used to assess the REN–PP. The “Submitted” row is comprised of values for data elements derived by IOGC (such as Indian Interest Oil Volume) and values submitted by the royalty payors.

Inclusion of Production Entities to Unassessed Report and Assessed Report

The Unassessed Report and Assessed Report have been changed to display the unique well identifiers and well name for those Royalty Entities associated with individual wells. For those Royalty Entities associated with units, the Unit Identifiers and Unit Names will be displayed.

These additions do not affect the sort order of these reports. They will continue to be sorted by Production Year and Month, then Royalty Entity Number.

Current and Revised Versions for September, 2014 Closing Period

Should you wish to compare the new version of the statements with the previous version of the statements, for the closing period of SEP-2014 you will receive two sets of Monthly Royalty Statements: one in the current format without the well and unit information added, and another set in the new format that includes the well and unit information.

These two versions will be emailed in October, 2014.

Reminder: Keeping Contact Information Current

It is the responsibility of each royalty payor to maintain their company contact email address using IOGCs website.

Companies can maintain their contact information using the Electronic Services links under the Doing Business menu on the Indian Oil and Gas Canada website. Once you have logged into the Electronic Services portion of IOGC’s website, please use the Company Contact Information link to make any necessary updates to your company contact information.

Keeping your contact information current ensures you will successfully receive your Monthly Royalty Statements each month.

About Indian Oil and Gas Canada

Indian Oil and Gas Canada (IOGC) is a special operating agency of the Government of Canada, responsible for managing and regulating oil and gas resources on First Nation reserve lands across Canada.

IOGC works closely with the Chief and Council of each respective First Nation in the oil and gas development process on designated reserve lands through:

• Facilitating negotiations, issuing, and administering agreements with oil and gas companies
• Conducting environmental screenings
• Monitoring oil and gas production and sales prices
• Verifying, assessing and collecting moneys such as bonuses, royalties and rents
• Ensuring legislative and contract requirements are met

Who to Contact

For more information on the monthly royalty statements, please contact IOGC at (403) 292-6024, or contactiogc@aandc-aadnc.gc.ca.

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