An exposure draft of SAMOG 2014, the latest revision of the South African Code for the Reporting of Oil and Gas Resources has been released for public consultation.  

The revised version of SAMOG has been drafted by the South African Oil and Gas Committee (SAMOG) Working Group.  The Johannesburg Stock Exchange (JSE) has been involved in the development of the South African Code for reporting of Oil and Gas, which is based on the Canadian National Instrument 51-101 in respect of general disclosures and the Petroleum Resources Management System (as developed by the Petroleum Engineers, the American Association of Petroleum Geologists, the Society of Petroleum Evaluation Engineers and the World Petroleum Council) in respect of the classification of resources and reserves.

The JSE proposes to adopt the South African Code for reporting of Oil and Gas, and amend Section 12 of the JSE Listings Requirements (the “Requirements”) to include a separate section for oil and gas companies.

The amendments to the Requirements have been marked-up for review. The South African Code for reporting of Oil and Gas and the amendments will be available on the JSE’s website: www.jse.co.za (Route: Companies & Issuer Regulation/Issuer Regulation).

We invite comments on the amendments by close of business, Monday 23 June 2014, and comments can be sent directly to alwynf@jse.co.za.

Follow this link to view the consultation draft: SAMOG Code May 2014