This website is owned and operated by YGas Energy Inc. (“YGas Energy”) and may be changed or updated from time to time without notice. Your use of YGas Energy’s website acknowledges your acceptance and consent to the practices described in this disclaimer and agree to hold YGas Energy and its affiliates harmless from and against any and all claims, expenses, damages, costs or any loss of any kind arising out of using this website or any material contained in or obtained through this website.

The Material contained in this website is for informational purposes only and does not constitute a solicitation or an offering of securities in any jurisdiction. Material available in or through this website (e.g. annual reports, interim reports, AIFs or press releases) is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to YGas Energy and should not be used for the purpose of making investment decisions concerning YGas Energy securities.

Website Protected by Copyright and Trade-mark

All content included on the website (including, without limitation, the design, text, graphics, trade-marks, service marks, logos, slogans and internet domain names as well as any audio or video), and any selection or arrangement thereof (the “Material”), is the exclusive property of YGas Energy or its licensors and is protected by international copyright, trade-mark, service marks, patents, or other proprietary rights and laws.  All such rights therein are expressly reserved by YGas Energy.

None of the Material may be downloaded, copied, reproduced, republished, posted, transmitted, stored, sold or distributed without the prior written permission of YGas Energy.  The YGas Energy name and logo are trade-marks and copyrights of YGas Energy.

This Legal Notice does not apply to linked websites. Each website should be checked for the Legal Notice applicable to it. YGas Energy is not responsible for the terms and conditions of use in place on linked websites that YGas Energy does not control.

Third Party Websites

YGas Energy provides links to third party websites for your convenience only. The inclusion of these links does not imply that YGas Energy monitors, investigates, verifies or endorses these websites, and accordingly, their use is at your own risk.

Internet Software or Computer Viruses

Due to technical difficulties inherent in the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of material contained on this website when displayed or downloaded onto your computer. Computer viruses or other destructive programs may also be inadvertently downloaded from the website. YGas Energy recommends that you install appropriate anti-virus or other protective software.

Exclusion of Liability

Although YGas Energy updates this website with Material it believes to be accurate at the time it is posted, YGas Energy does not warrant the accuracy, completeness, timeliness or currency of the Material at all times. YGas Energy expressly disclaims any liability for errors or omissions in the Material contained in this website. All Material and information contained in this website is provided on an as-is and as-available basis. Your use of this website is at your own risk.

In addition, no warranty of any kind, whether implied, expressed or statutory, including but not limited to, warranties as to non-infringement of intellectual- property rights or third-party rights, title, latent defects, uninterrupted service, merchantability, fitness for a particular purpose and freedom from computer viruses is given by YGas Energy in conjunction with the use of this website, the Material contained in this website or software algorithms. The Material on this website is not intended to provide tax, business, investment or legal advice to any individual or entity. YGas Energy expressly disclaims liability for errors or omissions in any software algorithms. In no event shall YGas Energy be liable for any damages (including without limitation direct, indirect, special, moral, incidental or consequential damages), claims, expenses, costs, loss of profits, loss of opportunities or loss of information arising from the use of this website including, but not limited to, the use of or reliance on Material contained in or obtained through this website; any inaccuracy or omission in such Material or failure to keep the Material current; use of any third party websites linked to this website; any internet software or software algorithms used in connection with this website or computer viruses or other destructive programs encountered as a result of using this website; inability to use this website due to, among others, interruption, delay in operation or transmission, defect, computer virus or line or system failure; and any other matter connected with this website, even if YGas Energy is made aware of the possibility of such claims, expenses, damages, costs or losses.

Internet E-Mail

As the Internet is not a fully secure medium and any communication may be lost, intercepted, corrupted or altered, YGas Energy is not liable for any damages related to communications (personal, confidential or otherwise) to or from this website. You agree that with respect to any material provided to YGas Energy through this website, YGas Energy has no obligation of any kind concerning such material; the material is non-confidential and non-proprietary; YGas Energy shall be free to use, disclose, distribute, copy or reproduce the material to others and shall be free to use any ideas, concepts, know-how or techniques of any kind contained in the material for any purpose whatsoever; and the material is truthful legal and does not violate the rights of others.

Forward-Looking Information

Non-GAAP Measures

This website uses the terms “cash flow from operations”, “netbacks” and “net debt”, which are terms not recognized under General Accepted Accounting Principles (“GAAP”). The Company uses these measures to help evaluate its performance, leverage, and liquidity as well as to assess potential acquisitions.

The Company considers corporate netbacks as a key measure as it demonstrates its profitability relative to current commodity prices. Corporate netbacks are comprised of operating, cash flow and net earnings netbacks. Operating netback is calculated as the average sales price of its commodities less royalties, transportation costs and operating expenses. Cash flow netback starts with the operating netback and further deducts general and administrative costs, interest expense and then adds or deducts any realized gains or losses on derivative contracts. To calculate the net earnings netback, YGas Energy takes the cash flow netback and deducts all non-cash expenses including: unrealized gains/losses on hedges, share-based compensation expense, depletion, depreciation, accretion, loss (gain) on dispositions, bad debt expense, impairments, exploration and evaluation expenses and deferred income taxes. There is no GAAP measure that is reasonably comparable to netbacks. See the section below entitled “Operating Netbacks by Product” for calculations of operating netbacks for each commodity type.

Additional GAAP Measures

In this website, we refer to additional GAAP financial measures that do not have any standardized meaning as prescribed under IFRS. Additional GAAP financial measures are line items, headings or subtotals in addition to those required under IFRS, and financial measures disclosed in the notes to the financial statements which are relevant to an understanding of the financial statements and are not presented elsewhere in the financial statements. These measures have been described and presented in order to provide shareholders and potential investors with additional measures for analyzing our ability to generate funds to finance our operations and information regarding our liquidity. Users are cautioned that additional GAAP financial measures presented by the Corporation may not be comparable with measures provided by other entities.

Additional GAAP financial measures include: cash flow from operations, cash flow from operations per share and net debt.

The Company considers cash flow from operations (also referred to as “cash flow”) a key performance measure as it demonstrates the Company’s ability to generate funds necessary to repay debt and to fund future growth through capital investment. YGas Energy’s determination of cash flow from operations may not be comparable to that reported by other companies. The reconciliation between cash flows from operating activities and cash flow from operations can be found in the table below. YGas Energy also presents cash flow from operations per share whereby per share amounts are calculated using weighted average shares outstanding consistent with the calculation of net earnings per share, which per share amount is calculated under IFRS and is more fully described in the notes to the financial statements.

Cash flow from operations is calculated as cash from operating activities before changes in non-cash working capital. Cash flow from operations per Share is calculated as cash flow from operations divided by the weighted-average number of Shares outstanding in the period. Because cash flow from operations and cash flow from operations per Share are not impacted by fluctuations in non-cash working capital balances, we believe these measures are more indicative of operational performance than cash from operating activities.

Other Oil and Gas Information

Throughout this website, the calculation of barrels of oil equivalent (boe) is calculated at a conversion rate of six thousand cubic feet (mcf) of natural gas for one barrel of oil and is based on an energy equivalence conversion method. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Estimated values of future net revenue do not represent fair market value.

The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties given the effects of aggregation.  YGas Energy’s most current annual information form contains details of reserves and future net revenues for all of its properties.