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New Edition of Directive 067, AER Bulletin 2023-19

Link to Bulletin Summarized

Oil and Gas – Financial Submissions

A new edition of Directive 067: Eligibility Requirements for Acquiring and Holding Energy Licences and Approvals has been published and is in force as of April 13, 2023.

This new edition complements the new functionality of OneStop, under which financial submissions will be accepted by OneStop as of May 2023. Licensees and their parent corporations are expected to submit financial statements and financial summaries through OneStop. Licensees should verify that the data has been received by checking OneStop before the deadlines specified in Directive 067.

In addition to notifying the AER if they are subject to insolvency proceedings, licensees must notify the AER immediately if they are ceasing their operations or initiating liquidation or dissolution proceedings.

Directive 067 was also amended to incorporate references to the various acts and rules to support the AER’s mandate to regulate geothermal resources and mineral resources.

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