Cautionary Statement Regarding Forward-Looking Statements and Information
Certain statements in this MD&A are "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, herein "forward looking statements" or "forward looking information". Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate," "scheduled," "potential" or other similar words, or statements that certain events or conditions "may," "should" or "could" occur. Forward-looking information is based on the Company's expectations regarding its future growth, results of operations, production, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, plans for and results of drilling activity, environmental matters, business prospects and opportunities. Such forward-looking information reflects the Company's current beliefs and assumptions and is based on information currently available to it. Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information including risks associated with the impact of general economic conditions, industry conditions, governmental regulation, 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, stock market volatility and the Company's ability to access sufficient capital from internal and external sources, the risks discussed under "Risk Factors" and elsewhere in this report and in the Company's public disclosure documents, and other factors, many of which are beyond its control. Although the forward-looking information contained in this report is based upon assumptions which the Company believes to be reasonable, it cannot assure investors that actual results will be consistent with such forward-looking information. Such forward-looking information is presented as of the date of this MD&A, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as required by law. Because of the risks, uncertainties and assumptions inherent in forward-looking information, you should not place undue reliance on this forward-looking information. See also "Risk Factors."
Specific forward-looking information contained in this MD&A may include, among others, statements regarding:
-- the performance characteristics of the Company's oil, NGL and natural gas properties;-- natural gas, crude oil, and condensate production levels, sales volumes and revenue;-- the size of the Company's oil, NGL and natural gas reserves;-- projections of market prices and costs;-- supply and demand for oil, NGL and natural gas;-- the Company's ability to raise capital and to continually add to reserves through acquisitions and development;-- future funds from operations;-- debt and liquidity levels;-- future royalty rates;-- treatment under governmental regulatory regimes and tax laws;-- work commitments and capital expenditure programs;-- the Company's future development and exploration activities and the timing of these activities;-- the Company's future ability to satisfy certain contractual obligations;-- future economic conditions, including future interest rates;-- the impact of governmental controls, regulations and applicable royalty rates on the Company's operations;-- the Company's expectations regarding the development and production potential of its properties;-- the Company's expectations regarding the costs for development activities;-- the resolution of various legal claims raised against the Company;-- the potential for asset impairment and recoverable amounts of such assets; and-- changes to accounting estimates and accounting policies.