(a) of a business that is an interest in an oil and gas property or related businesses that are interests in oil and gas properties; and
(i) was created for the sole purpose of facilitating the acquisition; and
(ii) other than assets or operations relating to the transferred business, has no
(A) substantial assets; or
(B) operating history.
(2) Profit or Loss Test—Despite subsections 8.3(2), 8.3(4), 8.3(8), 8.3(9), 8.3(10) and 8.3(11.1), a reporting issuer must substitute “operating income” for “specified profit or loss” for the purposes of the profit or loss test in paragraphs 8.3(2)(c) and 8.3(4)(c) if the acquisition is one described in subsection (1).
(b) the reporting issuer is unable to provide the financial statements in respect of the significant acquisition otherwise required under this Part because those financial statements do not exist or because the reporting issuer does not have access to those financial statements;
(e) subject to subsection (4), in respect of the business or related businesses, for each of the financial periods for which financial statements would, but for this section, be required under section 8.4, the business acquisition report includes
(i) an operating statement for the business or related businesses prepared in accordance with subsection 3.11(5) of National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards;
(ii) a pro forma operating statement of the reporting issuer that gives effect to significant acquisitions completed since the beginning of the reporting issuer’s most recently completed financial year for which financial statements are required to have been filed, as if they had taken place at the beginning of that financial year, for each of the financial periods referred to in paragraph 8.4(5)(b);
(iii) a description of the property or properties and the interest acquired by the reporting issuer; and
(iv) disclosure of the annual oil and gas production volumes from the business or related businesses;
(g) the business acquisition report discloses
(i) the estimated reserves and related future net revenue attributable to the business or related businesses, the material assumptions used in preparing the estimates and the identity and relationship to the reporting issuer or to the vendor of the person who prepared the estimates; and
(ii) the estimated oil and gas production volumes from the business or related businesses for the first year reflected in the estimates disclosed under subparagraph (i).
(4) Exemption from Alternative Disclosure—A reporting issuer is exempt from the requirements of subparagraphs (3)(e)(i), (ii) and (iv), if
(b) the business acquisition report discloses this fact.