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Annual Information Form

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Annual Information Form Annual Information Form FOR THE YEAR ENDED DECEMBER 31, 2019 March 4, 2020 TABLE OF CONTENTS FORWARD-LOOKING STATEMENTS .............................................................................................................. 1 ABBREVIATIONS ............................................................................................................................................ 3 CONVERSIONS AND CONVENTIONS .............................................................................................................. 3 OUR COMPANY ............................................................................................................................................. 3 Name, Address and Incorporation ............................................................................................................ 3 Intercorporate Relationships .................................................................................................................... 4 DEVELOPMENT OF OUR BUSINESS ............................................................................................................... 4 Developments in 2019 .............................................................................................................................. 4 Developments in 2018 .............................................................................................................................. 5 Developments in 2017 .............................................................................................................................. 6 Significant Acquisitions.............................................................................................................................. 6 DESCRIPTION OF OUR BUSINESS .................................................................................................................. 6 Our Development Strategy for Our Principal Properties .......................................................................... 6 Competition ............................................................................................................................................. 10 Environmental, Health and Safety Policies ............................................................................................. 10 Seasonal Factors ...................................................................................................................................... 10 Renegotiation or Termination of Contracts ............................................................................................ 10 Personnel ................................................................................................................................................. 11 STATEMENT OF RESERVES DATA ................................................................................................................ 11 Independent Report ................................................................................................................................ 11 Reserves Classifications ........................................................................................................................... 11 OTHER OIL AND GAS INFORMATION .......................................................................................................... 18 Oil & Gas Properties ................................................................................................................................ 18 Properties With No Attributed Reserves ................................................................................................ 19 Significant Factors and Uncertainties Relevant to Properties with No Attributed Reserves .................. 19 Liege Area Abandonment and Reclamation Obligations ........................................................................ 19 Costs Incurred During the Year Ended December 31, 2019 ................................................................... 19 Exploration and Development Activities ................................................................................................ 20 Production Estimates .............................................................................................................................. 20 Production History .................................................................................................................................. 21 Forward Contracts ................................................................................................................................... 22 Tax Horizon .............................................................................................................................................. 22 Environmental Considerations ................................................................................................................ 22 DIVIDENDS .................................................................................................................................................. 22 CAPITAL STRUCTURE ................................................................................................................................... 22 General .................................................................................................................................................. 22 Common Shares ...................................................................................................................................... 23 Preferred Shares ...................................................................................................................................... 23 Shareholder Rights Plan .......................................................................................................................... 23 2022 Notes .............................................................................................................................................. 23 Revolving Senior Secured Credit Facility ................................................................................................. 24 LC Facilities .............................................................................................................................................. 24 ii CREDIT RATINGS .......................................................................................................................................... 25 MARKET FOR SECURITIES ............................................................................................................................ 25 Trading Price and Volume ....................................................................................................................... 25 Prior Sales ................................................................................................................................................ 26 ESCROWED COMMON SHARES AND COMMON SHARES SUBJECT TO A CONTRACTUAL RESTRICTION ON TRANSFER ................................................................................................................................... 26 DIRECTORS AND OFFICERS .......................................................................................................................... 26 Corporate Cease Trade Orders, Bankruptcies, Penalties or Sanctions ................................................... 28 Conflicts of Interest ................................................................................................................................. 29 LEGAL PROCEEDINGS .................................................................................................................................. 29 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS ............................................... 29 TRANSFER AGENTS AND REGISTRARS ......................................................................................................... 29 MATERIAL CONTRACTS ............................................................................................................................... 29 INTEREST OF EXPERTS ................................................................................................................................. 30 Names of Experts .................................................................................................................................... 30 Interests of Experts ................................................................................................................................. 30 AUDIT COMMITTEE ..................................................................................................................................... 30 Audit Committee Mandate and Terms of Reference for Chair ............................................................... 30 Composition of the Audit Committee and Relevant Education and Experience .................................... 30 Audit Committee Oversight .................................................................................................................... 31 Pre-Approval Policies and Procedures for the Engagement of Non-Audit Services ............................... 31 Auditors’ Fees ......................................................................................................................................... 31 INDUSTRY CONDITIONS .............................................................................................................................. 31 Pricing and Marketing ............................................................................................................................
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