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) costs of $4.78/boe, including technical revisions. During 2020, the downturn in commodity prices necessitated suspension of capital development so there were no material reserves added from drilling. Year-end 2020 estimated net present values of future net revenue before tax discounted at 10% (“NPV 10 BT”) for PDP, 1P and 2P reserves totaled $54.7 million, $107.4 million and $218.0 million, respectively. Approximately 100% of PPR’s total estimated abandonment and reclamation obligations (ARO) is included in the 2020 reserves evaluation (2019 – approximately 79%).  Reserve life index (1) was 4.7 years, 10.5 years and 16.0 years on a PDP, 1P and 2P basis, respectively. Notes: (1) Finding & Development Costs and “Reserve Life Index” does not have a standardized meaning. See Cautionary Statements – Disclosure of Oil and Gas Reserves Data and Operational Information and Cautionary Statements – Reserve Life Index below

Peace riverTony van winkoopNational instrumentMedium oilInternational financial reporting standardsSite rehabilitation programCanadian oilDevelopment costsCompany annual information formBarrels of oilPrairie provident resources incSproule associates limitedCompany grossDisclosure of oilMother oilProvident resources