EPAP How Does it Benefit Production Accountants

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• EPAP How Does it Benefit Production
  Accountants?
• 1. Compliance with ERCB measurement recording
  provides more accuracy and fewer
  re-works.
• Compliance with ERCB reporting requirements
  ensures timely submissions and no penalties.
• Documented best practices provides good training
  for production accountants and consistency
  between companies.

2

• Why is CAPPA Involved?
• 1. In 2007, production accountants identified the
  need for best practices.
• Little progress was made with volunteer committee
  availability.
• EPAP is an incentive to develop best practices.
• Best practices, control suggestions and
  evaluation suggestions benefit your companies.
• Production accountants will be able to assist
  executive management with signing of compliance
  declarations.

3

• What is CAPPA Doing About EPAP?
• There are currently 74 ERCB non-compliance issues
  of which approximately 32 are related to
  reporting and 9 are considered high-risk.
• CAPPA has agreed to lead the reporting best
  practices design.
• The EPAP-PA committee has reviewed the
  non-compliance issues and determined which ones
  are production accounting events.
• The committee has begun work on procedures, c
  controls and evaluation processes.

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EPAP-PA Committee Company Members AltaGas
Ltd. Alberta Department of Energy Canadian
Natural Resources Ltd. Devon Canada ERCB ExxonMobi
l Husky Energy Imperial Resources NAL
Resources Penn West Petroleum Petro-Canada Rock
Energy Talisman Energy TAQA North Ltd.
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• Whats Next?
• When the EPAP procedures are complete and a
  template is in place, CAPPA will begin developing
  best practices in other areas such as Royalties,
  Processing Fees, etc.

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• Want to Get Involved?
• We are still looking for a few good production
  accountants to assist us with this project. If
  you are interested, please contact Joan Wasilciw,
  Executive Assistant, at CAPPA.