Nevada
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20-4119257
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(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
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Large accelerated filer
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o |
Accelerated filer
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o |
Non-accelerated filer
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o |
Smaller reporting company
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þ |
(Do not check if a smaller reporting company)
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ITEM 1.
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BUSINESS.
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●
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Our ability to finance our business plan;
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●
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the impact of the economic conditions and customer buying habits affecting the price of oil and gas;
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●
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our ability to deal effectively with competition and manage our growth;
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●
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the success or commercial viability of our exploration and production plans;
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●
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our ability to effectively judge acquisition opportunities and integrate acquired assets.
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ITEM 2.
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PROPERTIES.
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ITEM 3.
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LEGAL PROCEEDINGS.
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ITEM 4.
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MINE SAFETY DISCLOSURE
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ITEM 5.
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MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
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Fiscal Quarter
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High
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Low
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||||||
4
th
Fiscal Quarter 2012
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$ | 0.35 | $ | 0.15 | ||||
3
rd
Fiscal Quarter 2012
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$ | 0.25 | $ | 0.25 | ||||
2
nd
Fiscal Quarter 2012
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$ | 0.25 | $ | 0.25 | ||||
1
st
Fiscal Quarter 2012
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$ | 0.30 | $ | 0.10 | ||||
4
th
Fiscal Quarter 2011
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$ | 0.35 | $ | 0.04 | ||||
3
rd
Fiscal Quarter 2011
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$ | 0.09 | $ | 0.05 | ||||
2
nd
Fiscal Quarter 2011
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$ | 0.25 | $ | 0.05 | ||||
1
st
Fiscal Quarter 2011
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$ | 0.25 | $ | 0.14 |
ITEM 6.
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SELECTED FINANCIAL DATA.
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ITEM 7.
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MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
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Payments due by period
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||||||||||||||||||||
Contractual Obligations
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Total
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Less than
1 Year
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1-3 Years
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3-5 Years
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More than
5 Years
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|||||||||||||||
Contract Obligations
(1)
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$ | 21,000 | $ | 21,000 | — | — | — | |||||||||||||
Loans and Advances
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$ | 10,500 | $ | 10,500 | — | — | — |
(1)
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On March 15, 2012 we executed a consulting agreement having a twelve month term, but which may be cancelled with thirty days notice after three months. Compensation to the consultant is $7,000.00 per month. In addition, the consultant will receive 100,000 shares of our restricted common stock for each three month period the engagement remains in effect.
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ITEM 8.
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FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
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ITEM 9.
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CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES.
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ITEM 9A.
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CONTROLS AND PROCEDURES.
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ITEM 9B.
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OTHER INFORMATION
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ITEM 10.
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DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
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Name
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Age
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Position
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||
Robert Martin
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57
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Chief Executive Officer, President, and Director
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||
Herbert Schmidt
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69
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Chief Financial Officer, Secretary, Treasurer, and Director
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||
Douglas MacLellan
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61
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Chief Operating Officer, and Director
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Name
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Area of Expertise
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Robert Martin
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Petroleum Geology
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Herbert Schmidt
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Finance and Accounting
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Douglas MacLellan
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Petroleum Engineering
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ITEM 11.
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EXECUTIVE COMPENSATION
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Fiscal
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Salary
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Bonus
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Stock
Awards
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Option
Awards
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All Other
Compensation
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Total
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||||||||||||||||||||
Principal Position
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Year
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($)
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($)
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($)
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($)
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($)
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($)
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|||||||||||||||||||
Grant Petersen
(1)
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||||||||||||||||||||||||||
CEO and President
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2012
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10,000 | –– | –– | –– | –– | 10,000 | |||||||||||||||||||
2011
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–– | –– | –– | –– | –– | –– | ||||||||||||||||||||
Herbert Schmidt
(2)
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||||||||||||||||||||||||||
CFO, Secretary
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2012
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36,000 | –– | –– | –– | –– | 36,000 | |||||||||||||||||||
and Treasurer
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2011
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36,000 | –– | –– | –– | –– | 36,000 |
ITEM 12.
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.
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Name and address of
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Number of Shares
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Percentage of
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||||||
beneficial owner
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of Common Stock
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Common Stock (1)
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||||||
Robert Martin
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–– | –– | % | |||||
Chief Executive Officer, President, and Director
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||||||||
#7, 109-24
th
Avenue SW
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||||||||
Calgary, Alberta T2S 0J8
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||||||||
Canada
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||||||||
Herbert Schmidt
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3,000,000 | 2.79 | % | |||||
Chief Financial Officer, Secretary,
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||||||||
Treasurer, and Director
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||||||||
22840 Dolorosa Street
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||||||||
Woodland Hills, CA 91367
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||||||||
Douglas MacLellan
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–– | –– | % | |||||
Chief Executive Officer, and Director
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||||||||
75 Edgeland Crescent NW
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||||||||
Calgary, Alberta T3A 4C7
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||||||||
Canada
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||||||||
All Officers and Directors
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3,000,000 | 2.79 | % | |||||
as a group (3 persons)
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||||||||
Grant Petersen
(2)
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5,000,000 | 4.66 | % | |||||
Suite 482-1027 Davie Street
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||||||||
Vancouver, British Columbia V4E 1N9
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||||||||
Canada
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||||||||
Holloman Value Holdings, LLC
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27,533,333 | 25.64 | % | |||||
333 North Sam Houston, Parkway East
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||||||||
Suite 600
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||||||||
Houston, Texas 77060
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||||||||
Lai Chi Hung Ricky
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10,000,000 | 9.31 | % | |||||
7B Block 2, 25 Tai Hang Drive
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||||||||
Jardine’s Lookout
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||||||||
Hong Kong
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||||||||
Larca Pty Ltd.
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6,600,000 | 6.15 | % | |||||
Unit 8-9
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||||||||
88 Forrest Street
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||||||||
Cottesloe, WA, 6017
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||||||||
Australia
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(1)
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This table is based on 107,386,705 shares of common stock issued and outstanding on May 25, 2012.
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(2)
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Mr. Petersen became our Chief Executive Officer and President on June 28, 2011 and resigned from those positions on March 7, 2012. All of Mr. Petersens shares are held by an entity over which he exercises investment control.
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ITEM 13.
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CERTAIN RELATIONSHIPS, RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.
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ITEM 14.
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PRINCIPAL ACCOUNTANT FEES AND SERVICES.
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2012
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2011
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|||||||
Audit-related fees
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$ | 14,498 | $ | 12,000 | ||||
Tax fees
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1,650 | 1,500 | ||||||
Total
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$ | 16,148 | $ | 13,500 |
ITEM 15.
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EXHIBITS, FINANCIAL STATEMENT SCHEDULES.
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Report of Independent Registered Public Accounting Firm
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F-1 | |||
Balance Sheets
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F-2 | |||
Statements of Operations
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F-3 | |||
Statement of Stockholders' Deficit
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F-4 | |||
Statements of Cash Flows
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F-5 | |||
Notes to the Financial Statements
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F-6 |
STRONGBOW RESOURCES INC.
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|||
Date: May 25, 2012
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|||
By:
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/s/ Robert Martin
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||
Robert Martin,
President and Principal Executive Officer
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Signature
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Date
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/s/ Robert Martin
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May 25, 2012
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||
Robert Martin, Principal Executive Officer and Director
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|||
/s/ Herbert Schmidt
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May 25, 2012
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||
Herbert Schmidt, Principal Financial and Accounting Officer and Director
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|||
/s/ Douglas MacLellan
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May 25, 2012
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Douglas MacLellan, Chief Operating Officer and Director
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/s/ DMCL | |
DALE MATHESON CARR-HILTON LABONTE LLP | |
CHARTERED ACCOUNTANTS | |
Vancouver, Canada | |
May 29, 2012 |
(An Exploration Stage Company)
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||||||||
BALANCE SHEETS
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STRONGBOW RESOURCES INC.
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||||||||||
(An Exploration Stage Company)
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||||||||||
STATEMENTS OF OPERATIONS
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Cumulative results
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||||||||||||
from July 9, 2004 to
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Year Ended
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|||||||||||
February 29, 2012
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February 29, 2012
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February 28, 2011
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||||||||||
GENERAL AND ADMINISTRATIVE EXPENSES
|
||||||||||||
Office, travel and general
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$ | 467,525 | $ | 136,828 | $ | 133,348 | ||||||
Consulting
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365,336 | 121,700 | 117,250 | |||||||||
Professional fees
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179,571 | 35,586 | 30,399 | |||||||||
Total General and Adminsitrative
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(1,012,432 | ) | (294,114 | ) | (280,997 | ) | ||||||
GAIN ON SETTLEMENT OF DEBT
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48,948 | - | - | |||||||||
LOSS ON SETTLEMENT OF DEPOSIT
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(25,000 | ) | - | - | ||||||||
NET LOSS
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$ | (988,484 | ) | $ | (294,114 | ) | $ | (280,997 | ) | |||
BASIC AND DILUTED NET LOSS PER COMMON SHARE
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$ | (0.00 | ) | $ | (0.00 | ) | ||||||
WEIGHTED AVERAGE NUMBER OF BASIC AND
DILUTED COMMON SHARES OUTSTANDING
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104,355,946 | 103,407,088 |
STRONGBOW RESOURCES INC.
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||||||||||
(An Exploration Stage Company)
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||||||||||
STATEMENT OF STOCKHOLDERS' DEFICIT
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||||||||||
From July 9, 2004 (Inception) to February 29, 2012
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Deficit
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||||||||||||||||||||
Accumulated
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||||||||||||||||||||
Common Shares
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Additional
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During
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Total
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|||||||||||||||||
Number
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Paid In
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Development
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Stockholders'
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|||||||||||||||||
of Shares
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Amount
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Capital
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Stage
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Equity
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||||||||||||||||
Balance, July 9, 2004
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- | $ | - | $ | - | $ | - | $ | - | |||||||||||
Net loss
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- | - | (1,699 | ) | (1,699 | ) | ||||||||||||||
Balance, February 28, 2005
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- | - | - | (1,699 | ) | (1,699 | ) | |||||||||||||
Net loss
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- | - | - | (1,400 | ) | (1,400 | ) | |||||||||||||
Balance, February 28, 2006
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- | - | - | (3,099 | ) | (3,099 | ) | |||||||||||||
Common Stock issued for cash at $0.0001
|
||||||||||||||||||||
per share - March 2006
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70,000,000 | 7,000 | - | - | 7,000 | |||||||||||||||
Common Stock issued for cash at $0.0005
|
||||||||||||||||||||
per share - March 2006
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32,000,000 | 3,200 | 12,800 | - | 16,000 | |||||||||||||||
Net loss
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- | - | - | (28,124 | ) | (28,124 | ) | |||||||||||||
Balance, February 28, 2007
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102,000,000 | 10,200 | 12,800 | (31,223 | ) | (8,223 | ) | |||||||||||||
Common Stock issued for cash at $0.40
|
||||||||||||||||||||
per share - December 2007
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750,000 | 750 | 299,250 | - | 300,000 | |||||||||||||||
Investment units issued for cash at $0.38
|
||||||||||||||||||||
per share - January 2008
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144,736 | 145 | 54,855 | - | 55,000 | |||||||||||||||
Finders fees paid on private placements
|
- | - | (16,050 | ) | - | (16,050 | ) | |||||||||||||
Net loss
|
- | - | - | (69,974 | ) | (69,974 | ) | |||||||||||||
Balance, February 29, 2008
|
102,894,736 | 11,095 | 350,855 | (101,197 | ) | 260,753 | ||||||||||||||
Common Stock issued for cash at $0.40
|
||||||||||||||||||||
per share - First fiscal quarter 2009
|
125,000 | 125 | 49,875 | - | 50,000 | |||||||||||||||
Common Stock issued for cash at $0.40
|
||||||||||||||||||||
per share - Second fiscal quarter 2009
|
107,500 | 107 | 42,893 | - | 43,000 | |||||||||||||||
Common Stock issued for cash at $0.40
|
||||||||||||||||||||
per share - Third fiscal quarter 2009
|
62,500 | 63 | 24,937 | - | 25,000 | |||||||||||||||
Finders fees paid on private placements
|
- | - | (2,675 | ) | - | (2,675 | ) | |||||||||||||
Net loss
|
- | - | - | (187,214 | ) | (187,214 | ) | |||||||||||||
Balance, February 28, 2009
|
103,189,736 | 11,390 | 465,885 | (288,411 | ) | 188,864 | ||||||||||||||
Net loss
|
(124,962 | ) | (124,962 | ) | ||||||||||||||||
Balance, February 28, 2010
|
103,189,736 | 11,390 | 465,885 | (413,373 | ) | 63,902 | ||||||||||||||
Common Stock issued for cash at $0.06
|
||||||||||||||||||||
per share - December 2010
|
1,133,333 | 1,133 | 66,867 | 68,000 | ||||||||||||||||
Net loss
|
(280,997 | ) | (280,997 | ) | ||||||||||||||||
Balance, February 28, 2011
|
104,323,069 | 12,523 | 532,752 | (694,370 | ) | (149,095 | ) | |||||||||||||
Impact of assignment of Krygyz Gold Project to
|
||||||||||||||||||||
Holloman Corporation
|
175,271 | 175,271 | ||||||||||||||||||
Common Stock issued for cash at $0.15
|
||||||||||||||||||||
per share - Fourth fiscal quarter 2012 (net of fees)
|
1,333,333 | 1,333 | 191,667 | 193,000 | ||||||||||||||||
Net loss
|
(294,114 | ) | (294,114 | ) | ||||||||||||||||
Balance, February 29, 2012
|
105,656,402 | $ | 13,856 | $ | 899,690 | $ | (988,484 | ) | $ | (74,938 | ) |
STRONGBOW RESOURCES INC.
|
||||||||
(An Exploration Stage Company)
|
||||||||
STATEMENTS OF CASH FLOWS
|
Cumulative results
|
||||||||||||
from July 9, 2004 to
|
Year Ended
|
|||||||||||
February 29, 2012
|
February 29, 2012
|
February 28, 2011
|
||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||||||
Net loss from continuing operations
|
$ | (988,484 | ) | $ | (294,114 | ) | $ | (280,997 | ) | |||
Adjustments to reconcile net loss to net cash
|
||||||||||||
used in operating activities:
|
||||||||||||
Gain from settlement of indebtedness
|
(48,948 | ) | - | - | ||||||||
Changes in non-cash working capital items
|
||||||||||||
Prepaid expenses
|
(4,069 | ) | 1,729 | 4,315 | ||||||||
Accounts payable and accrued liabilities
|
156,704 | 58,293 | 64,520 | |||||||||
Assignment of accrued expenses
|
25,271 | 25,271 | - | |||||||||
Cash used by continuing operations
|
(859,526 | ) | (208,821 | ) | (212,162 | ) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||||||
Expenditures on oil and gas properties
|
(10,000 | ) | (10,000 | ) | - | |||||||
Cash used by investing activities
|
(10,000 | ) | (10,000 | ) | - | |||||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||||||
Common stock issued for cash
|
720,275 | 193,000 | 50,000 | |||||||||
Payments to related parties
|
(11,350 | ) | (11,350 | ) | - | |||||||
Proceeds from related parties
|
238,797 | 111,350 | 68,000 | |||||||||
Cash provided by financing activities
|
947,722 | 293,000 | 118,000 | |||||||||
CHANGE IN CASH
|
78,196 | 74,179 | (94,162 | ) | ||||||||
CASH, BEGINNING
|
- | 4,017 | 98,179 | |||||||||
CASH, ENDING
|
$ | 78,196 | $ | 78,196 | $ | 4,017 | ||||||
SUPPLEMENTAL DISCLOSURE:
|
||||||||||||
Cash paid for Interest
|
$ | 900 | $ | 394 | $ | 506 | ||||||
Cash paid for Income taxes
|
$ | - | $ | - | $ | - | ||||||
NON-CASH INVESTING AND FINANCING ACTIVITIES:
|
||||||||||||
Note Payable forgiven in assignment transaction
|
$ | 150,000 | $ | 150,000 | $ | - | ||||||
Common stock issued as repayment of note payable
|
$ | 18,000 | $ | - | $ | 18,000 | ||||||
Accrued expenditures on oil and gas properties
|
$ | 16,658 | $ | 16,658 | $ | - |
February 29,
2012
|
February 28,
2011
|
|||||||
Amounts due to related parties
|
$
|
10,500
|
$
|
60,500
|
Year Ended February 28,
|
||||||||
February 29, 2012
|
February 28, 2011
|
|||||||
Loss before income taxes
|
$
|
(292,414
|
)
|
$
|
(270,997
|
)
|
||
Statutory tax rate
|
35
|
%
|
35
|
%
|
||||
|
||||||||
Expected recovery of income taxes computed at
statuatory rates
|
102,345
|
94,849
|
||||||
Valuation allowance
|
(102,345
|
)
|
(94,849
|
)
|
||||
Provision for income taxes
|
$
|
––
|
$
|
––
|
February 29,
2012
|
February 28,
2011
|
|||||||
Deferred income tax assets:
|
||||||||
US net operating loss carryforwards
|
$ | 976,000 | $ | 684,000 | ||||
Total deferred income tax assets
|
976,000 | 684,000 | ||||||
Less: valuation allowance
|
(976,000 | ) | (684,000 | ) | ||||
Deferred income tax assets, net
|
$ | –– | $ | –– |
1.
|
Definitions
|
(a)
|
"Contract Depth" shall mean a mmnnum total vertical depth of 900 meters into the Bakken
Formation or a total measured depth of 1950m subsurface, whichever shall first occur; (b)
"Effective Date" means February 2, 20 12;
|
(c)
|
"Farmee" means Strongbow Resources Inc.;
|
(d)
|
"Farmor" means Harvest Operation Corp.;
|
(e)
|
"Farmout Lands" means the lands set forth and described in Schedule "A" hereto;
|
(f)
|
"Farmout & Royalty Procedure" means the 1997 CAPL Farmout & Royalty Procedure incorporated by reference herein, subject to the elections and amendments set forth on Schedule
''8" attached hereto;
|
(g)
|
"Mutual Interest Lands" means the area outlined in red excluding Twp 033 Rge 03W4M: Sec 14- P&NG to base Mannville as set forth in Schedule "C" attached hereto;
|
(h)
|
"Test Well" means the proposed well location at I 02/05-29-033-02W4/00, or as otherwise may be agreed to in writing between the parties;
|
(i)
|
"Title Documents" means the documents and any renewals or extensions thereof or further Title Documents issued pursuant thereto insofar as they relate to the Farmout Lands as set forth in Schedule "A" attached hereto.
|
2.
|
Schedules
|
3.
|
Qualified
Operator
|
4.
|
Test
Well
|
(a)
|
On or before June 1, 2012 Farmee shall, subject to rig availability, surface accessibility and regulatory approval and in accordance with Article 3.00 of the Farmout
&
Royalty Procedure, spud the Test Well at I 02/05-29-033-02W4/00 on the Farmout Lands and continuously drill down to Contract Depth. Farmee shall while drilling to Contract Depth cut two full bore cores one each from the Viking and Bakken formations. Farmee shall also run a DST in the Viking formation. In the event that hydrocarbons are noted in the core and geological cuttings in the Bakken, a DST will then be run in the Bakken. A decision will be mutually reached between the parties whether or not to continue with drilling a lateral in the Bakken section. If the Bakken formation proves non-productive or uneconomic, Farmee shall cut a window to enable for the drilling of a lateral into the Viking formation. In either event, the proposed lateral would be drilled to a minimum of 1,000 meters to a maximum of 1,200 meters of horizontal length. In either event, the total measured depth of the Test Well shall be 1,950 meters for the Test Well. Fannee shall complete the Test Well in the Bakken or Viking formation within the Farmout Lands prospective of containing petroleum and natural gas and equip or abandon same.
|
(b)
|
Farmor shall be provided with all well information pertaining to the Test Well on a current and confidential basis, as outlined in Clause 9.00 of the Farmout
&
Royalty Procedure. All risks and expenses associated with the Test Well shall be borne solely by Fannee 100%, and the Farmor shall be entirely free of any such costs, risk and expense.
|
5.
|
Interest
Earned
|
6.
|
Non-Performance
Penalty
|
(a)
|
In the event Farmee fails to comply with its Test Well commitment as set forth in this Agreement, then the Farmee's right to earn any further interest shall terminate upon written notice of default served by Farmor to Farmee. Fannee shall pay to Farmer the sum of Three Hundred and Fifty Thousand Dollars ($350,000) (CAD) as liquidated damages within ten (10) business days of receipt of the written notice. It is agreed that the Three Hundred and Fifty Thousand Dollars ($350,000) (CAD) is a genuine pre-estimate of the damages and Farmor does not need to establish that any actual damage occurred upon failure of Farmee to complete the Test Well commitment, it being the intention of the parties to establish the damage that can be foreseen from the failure of Farmee to complete its Test Well commitment at the time of making this Agreement.
|
(b)
|
Payment by Fannee of the genuine pre-estimate of damages in no way constitutes earning by Farmee under this Agreement nor does it deprive Farmer of any other rights at law or in equity, including damages and indemnity.
|
7.
|
Mutual
Interest
Lands
|
(a)
|
Article 8.00 of the Farmout
&
Royalty Procedure shall apply from the Effective Date and shall remain in full force for one (1) year from the drilling rig release date of the Test Well.
|
(b)
|
Any Mutual Interest Lands acquired pursuant to this Article 8.00 of the Farmout
&
Royalty
Procedure by the Farmee shall be subject to a 5% Overriding Royalty payable to the Farm or.
|
(c)
|
In the event the Farmee does not meet their requirements pursuant to Clause 3 and 4 of this
Agreement, This Agreement and Mutual Interest Lands will be terminated.
|
8.
|
Incorporation of
the
Farmout
&
Royalty
Pr·ocedure
|
9.
|
Indemnification
|
10.
|
Confidentiality
and
Public
Announcements
|
11.
|
Permitted
Assignments
|
12.
|
Address
for
Service
|
Farmor:
Harvest Operations Corp.
2100, 330-5'" Avenue SW Calgary, Alberta
T2P OL4
Attention:
Land
Manager
|
Farmee:
Houston Office: Strongbow Resources Inc.
600, 333 North Sam Houston Parkway East
Houston, Texas
77060
Attention:
Bob
Wesolek
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||
Calgary Office:
Strongbow Resources Inc.
C/0 APEX Energy Consultants Inc.
700, 815 - 8
11
Avenue SW Calgary, AB T2P 3P2
Attention:
Michael
Kamis
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13.
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Miscellaneous
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(a) |
Each of the pa1iies represents and warrants that it now has or is entitled to have full right, full power and absolute authority to enter into this Agreement.
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(b) |
If any term or condition of this Agreement conflicts with any Schedule attached hereto, the provisions of the body of this Agreement shall prevail. In the event of any conflict or inconsistency between the provisions of this Agreement and those of the Title Documents, the provisions of the Title Documents shall prevail.
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(c) |
This Agreement shall for all purposes be construed and interpreted according to the laws of Alberta. The courts having jurisdiction with respect to matters relating to this Agreement shall be the courts of Alberta.
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(d) |
The parties shall from time to time and at all times do all such further acts and execute and deliver all such further deeds and documents as shall be reasonably required in order to perform fully and carry out the terms of this Agreement.
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(e) |
This Agreement supersedes all other agreements, documents, letters and understandings, whether written or oral, among the parties in respect of the Farmout Lands.
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(f) |
The two year period for seeking a remedial order under Section 3( I )(a) of the Limitations Act, R.S.A. 2000 c.L-12, as amended, for any claim (as defined in the
Act
) arising in connection with this Agreement is extended to four years.
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(g) |
This Agreement may be executed in counterpart and all of those counterparts when taken together shall have the same effect as if all Parties had executed one document.
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(h) | Time shall be of the essence in this Agreement. |
HARVEST OPERATIONS CORP. | STRONGBOW RESOURCES INC. | |||
Per: | /s/ Robert Martin | |||
Name: | Robert Martin | |||
Title: | Chief Exceutive Officer |
Title Documents
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Farmout Lands
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Pre-Farmout
VVorking Interest
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Encumbrances
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Alberta P&NG Licence
5310090903
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Twp 033 Rge 02 W4M: Sec 19, 21, 28,29 & 32
ALL P&NG
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100%
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None
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Expiry:
September 29, 2012
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Twp 033 Rge 03 W4M: Sec 25 & 36
ALL P&NG
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||
Twp 034 Rge 03 W4M: Sec 1
ALL P&NG
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TO:
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Drilling and Completions administrator
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WELL:
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ALL NON-OPERATED LOCATIONS (including LOR/ORR, Farmouts, etc)
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INFORMATION REQUIRED PRIOR TO DRILLING
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NUMBER OF COPIES
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|||
Construction Reports , including costs | 1 | |||
Survey Plan
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1 | |||
Application for Well License
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1 | |||
Approved Well License
,
and applicable Amendments
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1 | |||
Drilling Program and Geological Prognosis
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1 | |||
AFE/Cost Estimate
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1 | |||
INFORMATION REQUIRED DURING AND AFTER DRILLING
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||||
Daily Drilling Reports
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1 | |||
Regulatory Reports
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1 | |||
Logs and Surveys
-
including LAS for logs
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1 | |||
Cores Analysis (if applicable)
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1 | |||
Drill Stem Test Reports and Charts (if applicable)
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1 | |||
Core Analysis (if applicable)
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1 | |||
Oil
,
Water and Gas Analysis (if applicable)
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1 | |||
Geological Report (if applicable)
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1 | |||
New Oil Well Report (if applicable)
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1 | |||
Final Completion or Abandonment Report
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1 | |||
Daily Completion Reports
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1 | |||
Completion Logs
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1 | |||
Initial Production/Fiow/AOF- or any other Production Reports
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1 | |||
All subsequent Workover
&
Service Reports
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1 |
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1.
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I have reviewed this annual report on Form 10-K of Strongbow Resources Inc.;
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2.
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Based on my knowledge, this report, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by the report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
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The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
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a)
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Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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b)
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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c)
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Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and
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d)
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Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
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a)
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All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
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b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
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/s/ Robert Martin
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||
Robert Martin,
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||
Principal Executive Officer
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1.
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I have reviewed this annual report on Form 10-K of Strongbow Resources Inc.;
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2.
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Based on my knowledge, this report, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by the report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
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The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
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b)
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and
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d)
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Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
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b)
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
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/s/ Herbert Schmidt
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||
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Herbert Schmidt,
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Principal Financial Officer
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(1)
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The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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(2)
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The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.
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Date: May 25, 2012
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STRONGBOW RESOURCES INC.
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/s/ Robert Martin
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|||
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Robert Martin,
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||
Principal Executive Officer
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Date: May 25, 2012
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||
/s/ Herbert Schmidt
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|||
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Herbert Schmidt,
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Principal Financial Officer
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