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ProspEX

Disclaimer

Terms of Use

This website is owned and operated by ProspEx Resources Ltd. ("ProspEx" or the "Corporation"). Access and use of this website is provided by ProspEx to you on condition that you agree to all of the terms set out in these Terms of Use, and by accessing or using this website, you are confirming your agreement to such terms. If you do not agree to accept and abide by these Terms of Use you may not access or use this website.

ProspEx may revise and update these Terms of Use at anytime and without notice. You are cautioned to review the Terms of Use posted on the website periodically. Your continued access or use of this website after any such changes are posted will constitute your acceptance of these changes.

You may not interfere with the security of, or otherwise abuse this website or any system resources, services or networks connected to or accessible through this website. You may only use this website for lawful purposes.

THE MATERIALS AND INFORMATION CONTAINED IN THIS WEBSITE ARE PROVIDED FOR INFORMATION PURPOSES ONLY AND ARE NOT INTENDED TO CONSTITUTE AN OFFERING OF SECURITIES IN ANY JURISDICTION.

Information disclosed under the corporate and securities laws of those Canadian jurisdictions applicable to ProspEx is not intended to be in any way qualified, amended, modified or supplemented by the information otherwise available in, through or on this website. Due to the technical and security risks inherent in the Internet, and because the document you access may differ from the original depending on your browser software, the information set out in this website should not be used for the purpose of making investment decisions.Please contact the Company directly to obtain printed copies of the documents you wish to review.

IF YOU ARE GONG TO RELY ON ANY INFORMATION CONTAINED IN ANY DOCUMENT THEN YOU MUST OBTAIN THAT DOCUMENT DIRECTLY FROM THE APPROPRIATE SECURITIES REGULATORY AUTHORITIES. IF YOU NEED CURRENT INFORMATION THEN YOU MUST REFER TO DOCUMENTS THAT HAVE BEEN FILED WITH THE SECURITIES AUTHORITIES.

Currency of Website

ProspEx is not liable for any errors or omissions in the information contained in this website. Although ProspEx believes this information to be correct at the time it is posted, ProspEx does not warrant the accuracy, completeness or currency of this information at all times. All information contained in this website is provided on an "as-is", "as-available", and "with all faults" basis without any representations, warranties or endorsements whatsoever. ProspEx may revise, supplement or delete information, materials and/or the resources contained in this website and reserves the right to make such changes without prior notification to past, current or prospective visitors.

No warranty of any kind, implied, expressed or statutory, including without limitation any warranty of merchantability and non-infringement of intellectual property rights, third party rights, title, fitness for any particular purpose or freedom from computer viruses or other contaminating or destructive properties, is given in conjunction with this website or the materials or information contained herein. ProspEx does not represent or warrant that this website or the materials or information contained herein will meet your requirements or that their use will be uninterrupted or error free.

Forward-Looking Information

Certain information contained in this website constitutes forward-looking information or statements including, without limitation, information and statements respecting: anticipated capital expenditures of ProspEx; production forecasts and results; technical and commercial viability of prospects; production and reserves additions and deletions from the Corporation's historical and future capital programs, acquisitions or dispositions; decline rates; costs of development; operating, general and administrative and other expenses; royalties, royalty regimes and anticipated amendments and effects thereof; expected timing of the receipt of regulatory approvals and the completion of facilities projects; net present values of future net revenue from reserves; commodity prices and costs; exchange rates; impacts of contracts for commodities; tax horizons; future income taxes; abandonment and reclamations costs, expiring acreage and ongoing strategy and plans.

Statements relating to "reserves" and "resources" are 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 profitably be produced in the future.

Forward-looking information and statements are often, but not always, identified by the use of words such as "anticipate", "seek", "believe", "expect", "hope", "plan", "intend", "forecast", "target", "project", "guidance", "may", "might", "will", "should", "could", "estimate", "predict" or similar words or expressions suggesting future outcomes or language suggesting an outlook. By their very nature, forward-looking information and statements involve inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information and statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to vary materially from the forward-looking information or statements. These factors include, but are not limited to: the volatility of oil and gas prices; production and development costs; capital expenditures; the imprecision of reserve and resource estimates and estimates of recoverable quantities of oil, natural gas and liquids; the Corporation's ability to replace and expand oil and gas reserves; environmental claims and liabilities; incorrect assessments of value when making acquisitions; increases in debt service charges; the loss of key personnel; the marketability of production; defaults by third party operators; unforeseen title defects; fluctuations in foreign currency and exchange rates; adequacy of insurance coverage; compliance with environmental laws and regulations; changes in tax and royalty laws; the Corporation's ability to access external sources of debt and equity capital; and the Corporation's ability to obtain equipment in a timely manner to carry out development activities. Further information regarding these factors may be found under the headings "Description of the Business – Risk Factors Relating to Our Business" and "Industry Conditions" in the Corporation's most recent Annual Information Form, under the heading "Operational and Other Business Risks" in the Corporation's Management's Discussion and Analysis for the year ended December 31, 2009, and in the Corporation's most recent consolidated financial statements, management information circular, quarterly reports, material change reports and news releases available under the Corporation's profile on SEDAR (www.sedar.com). Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to the Corporation, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Forward-looking information respecting:

  1. the anticipated costs and results, including without limitations, any production and reserves additions, deletions and forecasts thereof from the Corporation's historical and future capital programs, acquisitions or divestitures are based upon an assessment and interpretation of currently available geological, geophysical, engineering, production, operating and other technical and commercial data, both from the Corporation's existing properties and from other properties considered to be analogous to the Corporation's assets. Generally, it is assumed that future costs and results will be consistent with trends observed in historical costs and results;
  2. the anticipated future capital programs including, without limitation: exploration, development and exploitation activities and the timing thereof, are based on the continuing availability of skilled personnel and required oilfield services, continuing availability of capital, timely access to surface land, timely regulatory approvals and the availability of any other inputs or resources as may be required; and
  3. the anticipated net present values of future net revenue from reserves are based upon assumptions of future commodity prices and costs, exchange rates, impacts of contracts for commodities, tax horizons, future income taxes, capital costs, operating, general and administrative and other expenses, royalties and abandonment and reclamation costs. These assumptions are in turn based upon an assessment and interpretation of currently available information from the Corporation's existing properties and from other properties considered to be analogous to the Corporation's assets, and from the commodity and capital markets. Generally, it is assumed that future costs and results will be consistent with trends observed in historical costs and results.

Although the Corporation believes the assumptions underlying such forward-looking information or statements are reasonable, and the information received or disseminated by third parties is reliable, it can give no assurance that such assumptions or information will prove to be correct. The Corporation does not assume responsibility for the accuracy and completeness of the forward-looking information or statements and such information and statements should not be taken as guarantees of future outcomes. Subject to applicable securities laws, the Corporation does not undertake any obligation to revise these forward-looking information or statements to reflect subsequent events or circumstances. Furthermore, the forward-looking information contained in this website are as of the date made and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking information and statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking information and statements contained in this website are expressly qualified by this cautionary statement.

Barrels of Oil Equivalent

The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet to one barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Linked Websites

This website may provide links to third party websites for your convenience only. The inclusion of these links does not imply that ProspEx monitors or endorses these websites. ProspEx does not accept any responsibility for such websites. ProspEx 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 on or through any third party websites or linked resources.

E-mail

Feel free to email ProspEx at ir@psx.ca. However, the Internet is not a fully secure medium and any communication may be lost, intercepted or altered. ProspEx is not liable for any damages related to communications to or from this website. You agree with respect to any information provided by you to us through this website or via e-mail that:

Exclusion of Liability

YOU ASSUME ALL RESPONSIBILITY AND RISK FOR USE OF THIS WEBSITE AND ANY INFORMATION CONTAINED HEREIN.

IN NO EVENT SHALL PROSPEX OR ANY OF ITS DIRECTORS, OFFICERS, EMPLOYEES, SHAREHOLDERS, PARTNERS, OR AGENTS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, PUNITIVE, EXEMPLARY, CONSEQUENTIAL OR OTHER SIMILAR DAMAGES WHATSOEVER (INCLUDING DAMAGES FOR LOSS OF PROFITS, INTERRUPTION, LOSS OF BUSINESS, LOSS OF INFORMATION, OR ANY OTHER SIMILAR LOSS) IN CONNECTION WITH ANY CLAIM, LOSS, DAMAGE, ACTION, SUIT OR OTHER PROCEEDING ARISING UNDER OR OUT OF THESE TERMS OF USE, INCLUDING WITHOUT LIMITATION YOUR USE OF, RELIANCE UPON, ACCESS TO, OR EXPLOITATION OF THIS WEBSITE, ANY INFORMATION CONTAINED HEREIN OR ANY PART THEREOF, OR ANY RIGHTS GRANTED TO YOU HEREUNDER, EVEN IF PROSPEX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER THE ACTION IS BASED ON CONTRACT, TORT (INCLUDING NEGLIGENCE), INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS OR OTHERWISE.

IN EVERY EVENT, PROSPEX'S TOTAL MAXIMUM AGGREGATE LIABILITY UNDER THESE TERMS OF USE OR THE USE OR EXPLOITATION OF ALL OR ANY PART OF THIS WEBSITE OR ANY INFORMATION CONTAINED HEREIN, IN ANY MANNER WHATSOEVER SHALL BE LIMITED TO FIVE ($5.00) CANADIAN DOLLARS.

SOME JURISDICTIONS DO NOT ALLOW FOR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.

Trademark and Copyright

The materials and information found in this website are the property of ProspEx and its licensors and may be protected by the intellectual property laws of Canada and other applicable jurisdictions; including laws relating to copyrights, trade-marks, trade-names, internet domain names and other similar rights.

The materials and information found in this website may only be used and copied for your own, non-commercial, personal purposes, provided that such materials and information are not modified and that copyright and other intellectual property notices are not deleted. You may not create derivative works from or otherwise exploit these materials and information in any way. Unless you have entered into a separate agreement with ProspEx, any other use of these materials and information without the Corporation's written permission is prohibited.

The trade-marks, trade-names on this website are owned by ProspEx and its licensors and the display of same does not imply that a license of any kind has been granted to any other party. Any unauthorized use of these materials or information may violate applicable legislation and may result in legal action.

Internet

The Internet is not a fully-secure medium and is subject to possible interception, loss, corruption, or alteration of communication. ProspEx is not liable for any damages resulting from the transmission, interception or corruption of communications to or from this website. ProspEx is not liable for any software, computer viruses or other destructive, harmful or disruptive files or programs that may infect or otherwise impact your use of your computer equipment or other property on account of your access to, use of, or browsing on this website or your downloading of any of the materials or information from this website. ProspEx recommends that you install appropriate anti-virus or other protective software.

Indemnity

In consideration of your use ProspEx website, you agree to hold ProspEx and its affiliates and subsidiaries, and its and their respective directors, officers, employees and agents harmless against any claims for damages or costs or any loss of any kind (i) arising out of your access to or use of this website or any information contained in or obtained through this website or (ii) arising out of or in connection with any breach by you or anyone acting on your behalf of any of these Terms of Use.

Applicable Law

As visitors access this website on a server in Alberta, Canada, the information contained in this website is deemed to be provided in Alberta and is subject to Alberta law and the laws of Canada applicable therein. If you access this website from outside of Canada, you do so at your own risk and are responsible for compliance with local, national or international laws including, without limitation, securities laws.

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

ProspEx failure to insist upon or enforce strict performance of any provision of these Terms of Use shall not be construed as a waiver of any provision or right.

If any provision or part thereof of these Terms of Use is wholly or partially unenforceable the parties or, in the event the parties are unable to agree, a court of competent jurisdiction, shall put in place thereof an enforceable provision or provisions, or part thereof, that as nearly as possible reflects the terms of the unenforceable provision or part thereof.