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Terms and Conditions of Website Use

Material contained in the Petro-Reef Resources Ltd. (“Petro-Reef”) website is for information purposes only and is not intended to constitute an offering of securities in any jurisdiction. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and Petro-Reef Resources Ltd. makes no representation or warranty to that effect. Information disclosed under the corporate and securities laws of Canadian jurisdictions applicable to Petro-Reef is not intended to be in any way qualified, amended, modified or supplemented by the information available in, through or on this website. Due to the technical and security risks inherent on the Internet, and because the documents you access may differ from the originals depending on your browser software, the information set out in this website should not be used for the purpose of making decisions with respect to Petro-Reef’s securities. If you are contemplating trading in Petro-Reef securities, feel free to contact Petro-Reef directly to obtain printed copies of any documents you wish to review.

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Disclaimer of Warranties

The information and material contained in this website are believed to be accurate and complete at the time of their posting. Although Petro-Reef attempts to ensure that all information and material remain current and accurate, Petro-Reef does not warrant its accuracy, completeness and currency at all times. In addition, Petro-Reef does not warrant the accuracy, adequacy or completeness of software algorithms and expressly disclaims liability for errors or omissions in any software algorithms. You understand and expressly agree that use of this website is at your sole risk, that any material and/or data downloaded or otherwise obtained through the use of this website is at your own discretion and risk and that you will be solely responsible for any damage to your computer system or loss of data that may result from the download of such material and/or data.

No warranty of any kind, implied, express 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 in conjunction with the information, materials and software algorithms associated with this website. The foregoing limitation of implied warranties is subject to applicable law.

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Exclusion of Liability

In no event will Petro-Reef be liable for any damages, including without limitation, direct or indirect, special, incidental, moral or consequential damages, loss of profits, opportunities or information, or for expenses arising in connection with this website (including, without limitation, for damages resulting from disclosure or transmission of any website user’s personal or confidential information), with any software algorithms available thereon nor with any hyperlinked website or for use thereof or inability to use by interruption, defect, delay in operation or transmission, computer virus or line or system failure. Software algorithms made available and hyperlinks to other Internet resources are at your own risk. The content, accuracy, opinions expressed, and other links provided by these software algorithms and resources are not investigated, verified, monitored or endorsed by Petro-Reef or its subsidiaries.

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Copyright, Trademarks and Intellectual Property

In using this website, you agree that the contents hereof (including graphics, tables, charts, images and narrative material) is protected by copyright, trademark and other proprietary rights. You acknowledge that these rights are valid and legally binding upon you and that your use of the content of this website is governed by applicable copyright, trademark and other intellectual property laws of Canada and other countries.

Certain names, words, titles, phrases, logos, icons, graphics or designs in this website may constitute trade names, trademarks or service marks of Petro-Reef, or the use of which may have been licensed to them. The display of trademarks, trade names or service marks on this website does not imply that a license of any kind has been granted to anyone else.

You may copy materials published on this website solely for your non-commercial use. No other use of the information is authorized. In consideration for this authorization, you shall be required to ensure that any copy of these materials made by you shall retain all copyright and other proprietary notices in the same form and manner as the original.

Any unauthorized downloading, retransmission, republication or other copying or modification of material posted on this website, including trademarks, trade names and service marks, may violate federal, provincial, common or civil law trademark law and copyright law, and may result in legal action.

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Links to Third-Party Websites

Petro-Reef does not control any third-party websites and is therefore not responsible for the content of any linked websites or any link contained within a linked website. Petro-Reef provides such links only as a convenience and the inclusion of any link does not imply endorsement, investigation or verification by Petro-Reef of the linked website or information contained therein.

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Barrels of Oil Equivalent

Reference is made to barrels of oil equivalent (boe). Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. In accordance with N1 51-101, a boe conversion ratio for natural gas of 6 Mcf: 1bbl has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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Forward-looking Statements

All statements, other than statements of historical fact, including without limitation, assumptions and statements regarding reservoirs, resources and reserves, future production rates, exploration and development results, financial results, and future plans, operations and objectives of the Corporation are forward-looking statements that involve substantial known and unknown risks and uncertainties. Some of these risks and uncertainties are beyond management’s control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, availability of materials, equipment and third-party services, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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