A lot of Perpetual's shenanigans happened with Directive 006, 011, & 075 were in place though. LLR is a portion of Alberta's LMR program and is different than ARO.
In LMR calculations, 100% of the liability lies with the licensee for operations. It does not include many potential liabilities because it doesn't take into account any obligations not tied to the licensee like working interest or farm-ins. LMR is for Ops and license transfers, ARO is for finance and accounting.
Alberta has vastly undervalued abandonment and reclamation costs in the liability portion of the calculation in most areas of Alberta and Jason Kenny's UCP government removed the ability to view a company's LMR and whether or not a company has been required to and paid a deposit to cover a sub 1.0 LMR.
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