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LEGAL NOTICE

Strathcona Resources Ltd. (“Strathcona”) maintains a web site currently located at www.strathconaresources.com (the “Site”) which provides information, data and other materials (the “Content”). The Site and Content may be changed or updated from time to time without notice, and is provided to you subject to your compliance with these terms and conditions of use (“Terms and Conditions”). By accessing or using the Site you agree to be bound by these Terms and Conditions. If you do not agree to be bound by these Terms and Conditions, you may not access or use the Site. You may not interfere with the security of, or otherwise abuse this Site or any system resources, services or networks connected to or accessible through this Site. You may only use this Site for lawful purposes.

DISCLAIMER AND LIMITATION OF LIABILITY

Although Strathcona believes the Content on this Site to be accurate and complete at the time of posting of such Content and attempts to ensure that all information and material remain current and accurate, Strathcona does not warrant the accuracy, completeness and/or currency of the Content at all times. No warranty of any kind, implied, express or statutory, including, but not limited to, warranties as to non-infringement of intellectual property rights or third-party rights, title, latent defects, uninterrupted service, merchantability, fitness for a particular purpose and freedom from computer viruses or other contaminating or destructive properties, is given in conjunction with this Site, the Content or any other information, materials and software algorithms. Strathcona does not represent or warrant that this Site or the Content will meet your requirements or that their use will be uninterrupted or error free.

In no event shall Strathcona be liable for any damages, including without limitation, direct or indirect, special, incidental or consequential damage, loss of profits, opportunities or information arising in connection with the Site, even if Strathcona is made aware of the possibility of such damage, losses, claims or expenses.

Content on this Site is for information purposes only and does not constitute a solicitation or an offering of securities in any jurisdiction. Information that may be previously disclosed under corporate or securities legislation of Canada or other jurisdictions that may be applicable to Strathcona is not intended in any way to be amended, modified or supplemented by information available on this Site. The information set out in this Site should not be used for the purpose of making investment decisions.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

Some of the Content on this Site may, from time to time, contain certain “forward-looking information” within the meaning of applicable Canadian securities legislation. If undated, forward-looking information is deemed to be dated as of the date such information was added to the Site. Words such as “seeks”, “continues”, “objectives”, “strategies”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “could”, “might”, “should”, “believe”, “consider”, “opportunity”, “focused”, “goal”, “possible”, “probable”, “future”, “plans”, “budget”, “scheduled”, “forecasts”, “anticipate”, “intend”, “forecast”, “follow”, “assume”, “forward”, “aim” and similar expressions stating or implying that certain actions, events or results may be taken, occur or be achieved, may be used to identify such forward-looking information. In addition, statements relating to “reserves” and “resources” are deemed to be forward-looking information as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated and can be profitably produced in the future.

All such forward-looking information is based on certain assumptions and analyses made by management in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Although the forward-looking information on this Site reflects management’s beliefs as of the date of such information about Strathcona’s prospects, based on information available to management as of such date and on what management believed to be reasonable assumptions as of such date, there is no certainty that the actual results achieved will be consistent with such forward-looking information. Forward-looking information is not a guarantee of future performance and necessarily involves significant known and unknown risks, assumptions and uncertainties, some that are similar to other oil and gas companies and some that are unique to Strathcona, which may cause Strathcona’s actual results, performance, prospects and opportunities in future periods to differ materially from those expressed or implied by the forward-looking information provided on this Site. Any changes to the assumptions on which such forward-looking information is based could cause actual results, performance or achievements to differ materially from the anticipated results expressed or implied in the forward-looking information of Strathcona from time to time set out on this Site. By their nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Strathcona’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management and services, changes in environmental regulations, tax laws and royalties and the ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. Strathcona’s actual results, performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information, or if any of them do so, what benefits that Strathcona will derive therefrom. 

From time to time this Site may contain a summary of Strathcona’s operational outlook for future years, which may be considered to be future oriented financial information or a financial outlook. Such an outlook contains forward-looking information and is inherently based on a number of material assumptions and factors. The actual results of Strathcona’s operations for any period will likely vary from amounts which may be set forth on this Site, and such variations may be material.

Forward-looking information set out on this Site is expressly qualified by the foregoing cautionary statements. Specific materials on the Site containing forward-looking information may contain more specific cautions regarding risks and uncertainties, which you should review. Except as required under applicable laws, Strathcona assumes no obligation to update or revise forward-looking information to reflect new events or circumstances. 

PRESENTATION OF OIL AND GAS INFORMATION

This Site may contain certain reserves estimates and/or related estimates of net present values. Such information has been prepared in compliance with Canadian reserves disclosure standards and reserves definitions as set out in National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) and in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook. As permitted by NI 51-101, the reserves and related net present value of future net revenue from certain oil and gas reserves information that may be available on this Site from time to time have been determined using only forecast prices and costs. There is no assurance that the forecast price and cost assumptions estimated will be attained and variances could be material. The recovery and reserves estimates are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater or less than estimates provided from time to time on this Site. 

NI 51-101 permits oil and gas issuers to disclose not only proved, probable and possible reserves, but also resources, and to disclose reserves and production on a gross basis before deducting royalties. Probable reserves, possible reserves and resources are of a higher risk and are less likely to be accurately estimated or recovered than proved reserves. Strathcona is permitted to disclose reserves in accordance with applicable Canadian securities law requirements and the disclosure that may be contained on this Site includes reserves designated as probable reserves, possible reserves and resources, as defined under Canadian standards. 

Strathcona has adopted the standard of six thousand cubic feet (“Mcf”) to one barrel (“bbl”) when converting natural gas to oil equivalent. Barrel of oil equivalent (“boe”) conversions 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. As the value ratio of natural gas and crude oil is based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

NON-IFRS MEASURES

This Site may contain references to financial measures that not defined by International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and therefore are referred to as non-IFRS measures. Non-IFRS measures do not have a standardized meaning and may not be comparable to similar measures presented by other issuers. Non-IFRS measures should not be considered as an alternative to or more meaningful than IFRS measures, such as net income or cash flow from operating activities (as determined in accordance with IFRS), as an indication of Strathcona’s performance.

MODIFICATIONS TO THE TERMS AND CONDITIONS

Strathcona reserves the right to change these Terms and Conditions at any time. Your continued access to or use of this Site after such changes indicates your acceptance of these Terms and Conditions as modified. It is your responsibility to review these Terms and Conditions regularly.

CONFIDENTIALITY AND VIRUSES

The Internet is not a fully secure medium, and therefore confidentiality and privacy cannot be ensured. You agree that, while you may send email to Strathcona by use of links in this Site, where and when the same are available, which availability Strathcona does not warrant or represent, or otherwise, you understand the inherent risks of using email. Strathcona cannot ensure that an email from you will not be intercepted or altered in transit, or that Strathcona will in fact receive it. If you wish to send information securely and confidentially to Strathcona, or if you wish to be sure Strathcona responds to you, you will not use email.

The downloading of Content is done at your own risk. Strathcona cannot and does not guarantee or warrant that the Site or the Content are compatible with your computer systems or that the Site or the Content will be free of viruses, worms, trojan horses or disabling devices or other code that manifests contaminating or destructive properties. You are responsible for implementing safeguards to protect the security and integrity of your computer system and you are responsible for the entire cost of any service, repairs or connections of and to your computer system which may be necessary as a result of your use of the Site.

PRIVACY

When you access or use the Site, Strathcona may automatically collect personal information about you, including: 

  • Log Information: such as the type of browser you use, access times, pages viewed, your IP address, and the page you visited before navigating to the Site;
  • Location Information: such as information derived about your location from your browser;
  • Information Collected by Tracking Technologies: such asinformation collected by the following technologies:
    • Cookies, which are small files that are sent to your computer or device when you visit a website. Cookies allow recognition of your browser or device, store user preferences, and track your usage each time you visit. You can usually decline or remove cookies through your browser or device but doing so may interfere with your use of the Site; and
    • Session storage and local storage, which store userpreferences and other data locally in your browser.

Such information is collected to improve web experiences, help run the Site more efficiently, analyze Site traffic and gather broad demographic information. You agree that by using the Site, you consent to the collection, use, disclosure and processing of your personal information as described above. 

NO UNLAWFUL OR PROHIBITED USE

You agree that you will not, without our prior written permission, use the Site and the Content for purposes other than your own personal non-commercial use and benefit. You may not frame the Site or the Content or any part thereof on any commercial or non-commercial internet website. You acquire absolutely no rights or licences to the Site or the Content other than the limited right to use the Site and the Content in accordance with these Terms and Conditions. You agree that you will not use the Site for any purpose that is unlawful. Except as expressly provided in these Terms and Conditions, any reproduction, retransmission, distribution, sale, republication, modification, translation of or creation of derivative works based on the Site or the Content, in whole or in part, and any decompilation disassembly, reverse engineering or other exploitation of the Site, without prior written permission, is strictly prohibited.

OWNERSHIP

All Content, designs, graphics, pictures, illustrations, software, artwork, video, music, sound, names, words, titles, phrases, logos and marks displayed on the Site or in the Content are owned (or licensed or used with permission or used under fair use/fair dealing provisions) by Strathcona and are protected by copyright, trademark and other intellectual property laws and treaty provision laws.

THIRD-PARTY SITES

The Site may, from time to time, provide links to third-party websites. Such links are accepted by you “as is”, “where is” and “as available” and are subject to the disclaimers and limitations set forth in these Terms and Conditions. Strathcona does not endorse the information contained in those websites or guarantee their quality, accuracy, reliability, completeness, currency, timeliness, non-infringement, merchantability or fitness for any purpose. 

The content in and the privacy practices of any linked websites are not under Strathcona’s control. If you choose to access any such website, you do so entirely at your own risk. Strathcona shall not be responsible or liable, directly or indirectly, for any damage or loss, caused or alleged to be caused by or in connection with the use of or the reliance upon any information, content, goods or services available in or through any third-party websites or linked resources.

GOVERNING LAW

The Content and any other information contained in this Site, including these Terms and Conditions, are deemed to be provided in Alberta and are governed by the laws of the Province of Alberta and the laws of Canada applicable therein. These laws apply to the use of the Site or the Content by you, notwithstanding your domicile, residency or physical location. The Site and the Content are intended for use only in jurisdictions where it may lawfully be offered for use. You also agree that any claims or disputes whatsoever arising hereunder shall be submitted to the exclusive jurisdiction and venue of the courts of the Province of Alberta and acknowledge that you do so voluntarily.

GENERAL PROVISIONS

These Terms and Conditions contained in this Legal Notice, including any documents referenced herein, constitute the entire agreement between Strathcona and you pertaining to the subject matter hereof and supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between you and Strathcona with respect to the Site. A printed version of these Terms and Conditions and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to these Terms and Conditions to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form. Strathcona’s failure to insist upon or enforce strict performance of any provision of these Terms and Conditions shall not be construed as a waiver of any provisions or right. If any of the provisions contained in these Terms and Conditions are determined to be void, invalid or otherwise unenforceable by a court of competent jurisdiction, such determination shall not affect the remaining provisions contained herein.

COPYRIGHT AND TRADE-MARK NOTICES

© Strathcona Resources Ltd. 2021 No part of the Site or the Content may be reproduced, modified, distributed, sold, published, broadcast, retransmitted or circulated in any form without the prior written consent of Strathcona, except to the extent that such use is for your personal, non-commercial use (to request such consent, please contact the Chief Financial Officer at This email address is being protected from spambots. You need JavaScript enabled to view it.). All copies must include this copyright notice.

Any rights not expressly granted herein are reserved.