The Canadian Securities Administrators are seeking comment on proposed amendments to the rules setting out standards of disclosure for oil and gas activities.

The CSA says that its proposed amendments are intended to: provide new guidelines for disclosure of resources that are not currently classified as reserves; remove certain annual filing requirements; and, clarify or streamline some provisions.

“Since it was implemented in September 2003, we have consulted with stakeholders and monitored how NI 51-101 is working,” said Jean St-Gelais, chairman of the CSA and president & CEO of the Autorité des marchés financiers. “Based on that feedback, we’ve proposed amendments that are designed to make oil and gas disclosure more meaningful and understandable to investors.”

The comment period is open from January 19 to April 19.