Barrels of Oil
Barrels of oil per day
means Touchstone's 100% interest in 20,160 acres of heavy oil lands and related assets in the Peace River region of northwest Alberta
means Energy Resources and Conservation Board, which is the former name of the Alberta Energy Regulator.
International Financial Reporting Standards
means the Company's two THAI® well-pair pilot project and ten well-pair expansion project on the Kerrobert Property
Thousand barrels of oil
means McDaniel and Associates Consultants Ltd., independent petroleum engineers, of Calgary, Alberta, Canada;
means the evaluation of the Heavy Oil Business Unit's heavy oil and bitumen reserves and contingent resources (excluding the Glover Property, the Dawson Property and the Sutton Creek Property) based on forecast prices and costs dated March 9, 2011, with an effective date of December 31, 2010;
means (a) in relation to the Company's interest in production and reserves, its working interest (operating and non-operating) share of reserves or production after deduction of royalty obligations, plus 3 the Company's royalty interest in production or reserves; (b) in relation to wells, the number of wells obtained by aggregating the Company's working interest in each of its gross wells; and (c) in relation to the Company's interest in a property, the total area in which the Company has an interest multiplied by the working interest owned by the Company
means PetroBakken Energy Ltd., a subsidiary of Petrobank, in which Petrobank had a 59% interest as at December 31, 2010, and is also referred to herein as the Canadian Business Unit
means Petrobank Energy and Resources Ltd.
means Petrominerales Ltd., in which Petrobank had a 65% interest as at December 31, 2010 which was transferred directly to the Petrobank shareholders on December 31, 2010 pursuant to the Petrominerales Reorganization;
means the series of transactions completed December 31, 2010 pursuant to which, among other things, Petrobank effectively distributed its 65% ownership of Petrominerales directly to its shareholder
means steam assisted gravity drainage
Touchstone Exploration Inc.
Republic of Trinidad and Tobago
Toronto Stock Exchange
Trinidad and Tobago dollar
means West Texas Intermediate