1.1 President’s
Message
Mancal Energy is
proud to release our
second
Environmental,
Social and
Governance (“ESG”)
report. We believe
that it is important
to act out of
conviction and not
for marketing
reasons, and while
we have only
recently started to
publish ESG reports,
Mancal Energy has
been proudly
practicing and
implementing ESG
measures for over 20
years. Over the
decades, our
shareholders, have
built this and other
companies using ESG
fundamental
principles.
Despite the
challenges of the
pandemic in 2020, we
did not lose sight
of our focus on
sustainability or
ESG. This report
builds on our 2019
sustainability
report and reflects
on the challenges of
2020.
Summarized in this
report is the work
we carried out to
further advance our
sustainability
focus. We continue
to evolve our
strategy to focus on
resiliency - working
toward responsible
resource
development, which
balances growth with
ESG objectives, such
as keeping our
employees safe and
enhancing people’s
lives. We believe
this report has an
improved ESG
reporting structure.
We have aligned with
the voluntary, but
leading
Sustainability
Accounting Standards
Board (SASB) and
Task Force on
Climate-Related
Financial
Disclosures (TCFD)
frameworks to enable
us to identify
medium and long-term
ESG and
climate-related
risks and
opportunities and to
promote further
engagement with our
stakeholders.
Through this work,
we have developed
internal procedures
and tools to
identify our
priorities with
respect to ESG. Our
process of
identifying
priorities was also
guided by a
materiality
assessment, which
was informed by the
SASB, TCFD, banking
sector ESG focus
areas, ESG rating
agencies, IPIECA
(formerly the
International
Petroleum Industry
Environmental
Conservation
Association), the UN
Sustainable
Development Goals
and through
discussion and
surveying of key
stakeholders.
In 2019, Mancal
Energy commenced
actively working on
an initiative hailed
as MEI 2.0. The
focus of the
initiative was to
streamline both back
office and field
processes through
digital
transformation to be
a low-cost energy
producer. This
initiative continued
and through 2020 we
have reduced our
costs and improved
our sustainability
as a corporation.
This increases the
Company’s
flexibility to focus
on increasing our
liability reduction
initiatives to go
beyond the minimum
requirements.
Through MEI 2.0 we
also determined key
performance
indicators and set
goals and targets to
allow for
measurement and
evaluation of our
ESG performance;
with an aim to
improve ESG
performance in the
short, medium, and
long term. In 2020
we established our
first set of ESG
goals and targets.
As you’ll see from
our targets, we have
committed to climate
change leadership
and reducing our
greenhouse gas
(“GHG”) emissions.
We are targeting a
50 per cent
reduction in GHG
emissions intensity
by 2025 over 2019
levels. We are also
targeting a 50 per
cent reduction in
our flared and
vented emissions by
2025 over 2019
levels. Both targets
reduce our impact
and support Canadian
Federal targets to
reduce GHG and
methane emissions.
In 2020, the world
was hit by the
COVID-19 pandemic.
The pandemic was
especially
challenging for the
oil and gas
industry. At Mancal,
the health and
safety of our
employees is our
main priority. When
the need arose, we
quickly put measures
in place to help
protect our
employees against
the challenges posed
by the pandemic
including further
advancement of our
mental health
support system. The
pandemic was a
wake-up call and a
stark reminder of
our fragility. The
pandemic taught us
resiliency and
renewed our faith in
humanity and the
value of human life.
Therefore, as we
move forward from
the pandemic and the
tremendous economic
pain and inequality
that we saw in 2020,
we will respond more
strongly to social
challenges alongside
climate change. As
such we have
increased our
education with
respect to issues
such as diversity
and inclusion and
truth and
reconciliation.
Our progress towards
more sustainable and
responsible
operations is
addressed in more
detail in this
report. There is
still much work to
be done, but we are
committed to
protecting our
people, the
communities we work
in, and the
environment. We hope
you enjoy this
report.
Sincerely,

Byron Lutes
President
TOP OF PAGE
1.2 Message from
Board
Welcome to our
second annual
Environmental,
Social and
Governance (“ESG”)
report. As the Board
of a
multi-generational
family enterprise,
it is our mandate to
ensure that, above
all else, the values
of the family are
integrated
throughout the
operations of the
business. Mancal’s
Board of Directors
(the “Board”) is
committed to strong
corporate governance
and provides
oversight on the
strategic direction
of the business
while ensuring that
key risks are
identified and
mitigated. Our
corporate purpose of
advancing society
comprises the
foundation of our
strategy, capital
allocation and
investment
decisions.
The Board works
closely with
Management to ensure
that the Company’s
purpose is
communicated and
understood at all
levels of the
organization and is
integrated with our
strategy. Mancal has
a rich history in
upholding its
values, including
the identification
and adoption of
measures to operate
more sustainably. In
2020 and 2021 the
Board approved
Mancal Energy’s
materiality
assessment exercise
to identify and
address the most
important ESG issues
facing the Company.
In addition, we
approved new
sustainability goals
and targets which
align with our ESG
ambitions. The Board
is committed to
support Mancal
Energy as it works
towards increasingly
sustainable
operations and
progress towards our
goals and targets.
The past few years
have challenged us
in ways that could
not have been
anticipated. At the
onset of COVID-19,
the Company acted
immediately by
putting several
measures in place to
protect our
employees while
keeping our focus on
ESG excellence and
safe operations.
Nevertheless, the
challenges and
heartbreaking events
of the COVID-19 era
also provided an
opportunity to
revisit and re-focus
social initiatives
that promote
diversity and
inclusion, such as
supporting truth and
reconciliation
education in the
organization. Canada
possesses vast
resources as well as
the diverse
expertise required
to lead the world in
the transition to a
low-carbon intensity
economy. Talented
individuals,
irrespective of
their race and
gender, are the
future of Mancal,
and the energy
sector.
We are proud of the
commitment and
progress of Mancal
Energy towards our
sustainability
goals, and we hope
that you enjoy
reading our ESG
report.
Sincerely,

M.E. Cannon
Chair
TOP OF PAGE
1.3 About this
report
We used the
Sustainability
Accounting Standards
Board (SASB) and the
Task Force on
Climate-Related
Financial
Disclosures (TCFD)
to provide a
framework for this
report. We are
reporting on SASB
disclosure that our
leadership team has
determined are
relevant, but also
in areas
acknowledged through
our materiality
assessment. Our
intention is to
publish an ESG
report annually to
update our
stakeholders on new
ESG initiatives and
the progress we have
made towards our
sustainability
goals. Any reference
to “Mancal”, “Mancal
Energy”, “MEI”, “the
Company”, “we”,
“our”, etc. refers
to Mancal Energy
Inc. and not any of
the other Mancal
Group of Companies.
Any limitations with
regards to the data
have been identified
within the report.
This report provides
our key stakeholders
with a comprehensive
view of our Company
and values, how we
are managing risk
and setting our
goals for the
sustainable
development of our
assets. This report
has been completed
with data collection
procedures to ensure
accuracy and
assurance readiness.
All our GHG
emissions data is
assured to a level
of reasonable
confidence through
the Alberta
Technology,
Innovation and
Emissions Reduction
(“TIER”) regulation.
Although we are yet
to undertake
third-party ESG
verification for ESG
reporting, pieces of
our ESG data are
assured and we will
continue to evaluate
the benefit of
broader assurance in
the future. Data and
data procedures have
also been reviewed
and approved by
Mancal Corporation’s
Board of Directors
(“Board”).
Data provided in
this reported is
accounted for using
full-year 2020 as a
boundary. We also
report on 2019
historical data to
highlight trends.
Given the timing of
release, January
2022, we also
discuss initiatives
and actions taken in
2021, which support
our sustainability
or ESG ambitions.
As Mancal Energy
Inc. is a private
company, we do not
provide financial
statements or
operational updates
to the public.
Nonetheless, we do
actively participate
with our public peer
companies in all the
environmental and
socially responsible
initiatives our
sector has
undertaken, making
Canada one of the
preeminent
jurisdictions in the
world when it comes
to ESG compliance.
This report is our
second voluntary ESG
report. We have
elected to publicly
report on ESG to
demonstrate our
commitment to ESG
practice and
improving our
performance. ESG is
very important to
our sector, local
communities, the
Canadian economy,
and the globe, hence
reporting is an
opportunity to
highlight our focus,
highlight the
strength of ESG
compliance in
Canada, identify our
gaps and focus on
continuous
improvement.
TOP OF PAGE
1.4
About Mancal
The Mancal
Group is
owned by the
Mannix
family and
is founded
on over 120
years of
entrepreneurial
spirit, hard
work and
determination.
The Mancal
Group
believes it
shares a
responsibility
to Canadians
and as a
result is
driven by a
commitment
to
communities
and the
Canadian
people in
advancing
society.
The Mannix
family began
their
journey with
industry in
1898.
Through the
generations
that
followed,
the family’s
resilience,
entrepreneurialism
and
community
focus
allowed them
to continue
to
successfully
construct
projects and
deliver
essential
products to
support
economic
growth and
social
change. With
these same
guiding
principles,
the family
started
Mancal
Energy Inc.
in 1999. |
 |
Mancal
Energy’s corporate
headquarters are in
Calgary, Alberta and
our field operations
are based in Drayton
Valley, Alberta. We
are focused on the
development and
production of
liquids rich natural
gas and oil. In
2020, liquids
production accounted
for 45 per cent of
our total
production. Our
annual average
production for 2020
was 5,852 barrels of
oil equivalent per
day. Barrels of oil
equivalent is
calculated using a
conversion ratio of
six thousand cubic
feet of natural gas
for each barrel of
oil. This balanced
portfolio allows the
Company to maintain
a strong balance
sheet that provides
added stability
through varying
commodity price
cycles.
TOP OF PAGE
1.5 ESG
Adoption at
Mancal
1.5.1 ESG at
Mancal
At Mancal, we
believe that
entrepreneurial
spirit and
collaboration will
drive sustainable
energy development
in this country, and
beyond our borders.
This commitment is
reflected in our
community
engagement, in our
corporate
sustainability
strategy and through
our risk management
processes.
The Mancal Group has
been operating under
the principles of
ESG since the late
1800’s. Even in the
early years, the
‘outfit’ was a
pioneer in
sustainability and
health and safety
practices ensuring
that environmental
protection and
well-being were part
of doing business.
Sustainability or
ESG is governed
through our full
Board and is a
consideration when
reviewing investment
opportunities.
At Mancal Energy, we
demonstrate our
drive for a
sustainable
environment and
economy by:
-
Minimizing our
greenhouse gas
(GHG) emissions
and methane
emissions - we
have established
reduction
targets in
both areas to
reduce our
impact.
-
Exceeding all
regulations to
ensure we
minimize the
impact to the
communities in
which we
operate.
-
Sharing in the
benefits of
resource
development by
ensuring our
supply chain is
supporting local
communities.
-
Focusing our
attention on the
health and
safety of our
employees.
-
Managing our
assets
responsibly from
the onset of
development
until end of
life.

1.5.2 Our
Purpose and Role in
Society
Mancal Energy exists
to meet the societal
demand for energy.
Energy fuels our
lives, our homes,
our schools, our
businesses, and our
economies. It is
essential to our
security and to our
quality of life. We
also appreciate that
oil and gas is
facing unique
challenges today as
the world
accelerates action
on climate change.
We appreciate that
75 per cent of
global GHG emissions
come from fossil
fuels (as per
information in the
International Energy
Agency 2021 World
Energy Outlook).
However, we
appreciate energy
systems, their
complexity, their
dynamic nature and
how they connect and
improve the quality
of life for people.
Achieving GHG
emission reductions
and improved ESG
performance in other
key areas, while
meeting the demand
for energy, will be
a challenge in all
corners of the
world. Currently,
only 11.6 per cent
of global total
energy supply is
from renewables, or
‘clean’ energy (as
per information in
the International
Energy Agency 2021
World Energy
Outlook). We firmly
believe in the value
of energy, and we
firmly believe in
ESG, hence we will
continue to find
ways to marry the
two for the benefit
of Mancal and the
world.

1.5.3 Our ESG
Strategy
In 2020 our focus on
ESG has been
informed by our
materiality
assessment. We
expect to sharpen
our focus in these
areas, which is also
reflected in our new
sustainability
targets.
1.5.4 ESG
Integration and
Reporting
Mancal’s management
team performs an
annual risk
assessment for the
Audit and Risk
Committee. The
exercise highlights
operational and
market risks and
provides an
assessment of the
overall risk
severity for the
Company based on
severalrisk factors:
complexity of
business and
environment,
organizational and
system changes,
number and nature of
operating locations,
degree of
information
sensitivity and
dollar exposure.
Risk exposures are
identified,
mitigated, and
monitored. ESG risk
is increasingly a
focus of this risk
assessment.
TOP OF PAGE
1.6
Sustainability
Materiality
Assessment
We believe that
sustainable business
practice, over the
long term, will
translate into
better financial
performance. Our
goal is to expand
our focus on
material issues over
time and provide
clear disclosure
regarding our focus
areas. This will
ensure that our
company remains
purposeful in the
topics that are most
critical and of
utmost importance to
our business. The
following provides
an overview of our
first sustainability
materiality
assessment, informed
by the
Sustainability
Accounting Standards
Board, TCFD, the
Banking sector’s ESG
focus areas, ESG
Rating Agencies,
IPIECA (formerly the
International
Petroleum Industry
Environmental
Conservation
Association), the UN
Sustainable
Development Goals
and through
discussion and
surveying of key
stakeholders. While
the performance data
that we are
reporting for 2020
does not cover all
the material issues
identified in our
assessment, we will
continue to update
our assessment as
necessary and will
use it to guide the
evolution of our ESG
reporting in the
coming years.
1.6.1
Sustainability
Issues
Identification
Through our
sustainability
materiality
assessment, we
identified 25 key
issues for
consideration. We
deem all of these
issues
to be of interest to
our stakeholders,
albeit in varying
degrees.
Economic |
Environment |
Social
|
Governance |
Clean
Technology
Adoption |
GHG
Emissions,
Strategy &
Risk |
Community Relations |
Governance |
Business
Model
Resilience
|
Water
Management |
Health &
Safety |
Diversity &
Inclusion |
Reserves
Valuation &
CAPEX |
Air Quality |
Indigenous
Relations |
Managing the
Legal &
Regulatory
Environment |
Economic
Growth |
Ecological
Impacts /
Biodiversity |
Human Rights |
Business
Ethics |
Local Hiring
&
Procurement |
Waste
Management |
Human
Capital &
Labour
Practices |
Anti-corruption |
|
Resource Use |
|
|
|
Flaring |
|
|
|
Environmental
Spills |
|
|
|
Waste
Management |
|
|
|
Decommissioning |
|
|
|
Table 1: Mancal
Sustainability
Materiality
Assessment - Issues
Identified
The top ten
sustainability
issues we
identified
are as
follows.
These issues
have been
deemed to
either
present risk
to our
business
today, or
have
potential to
be a threat
in the
future. A
strong focus
on these key
issues
complements
our strategy
and
discussion
and metrics
on each area
follows in
this report.
1.6.2
What have we
learned?
Investment
in Clean
Technology
- We are an
oil and gas
company
focused on
exploration
and
production
activities,
but we
appreciate
that to
decarbonize,
increase
efficiency
and attract
talent,
analysis and
adoption of
clean
technology
may support
our business
in the
future.
Diversity
and
Inclusion
- We learned a
great deal
about
diversity
and
inclusion in
2020, as did
our peers,
and as such
we have
elevated its
importance
to support
its adoption
in our
workplace.
Further
commentary
on diversity
and
inclusion
can be found
here.
TOP OF PAGE
|
TOP
10
Issues
Identified |
GHG
Emissions,
Strategy
&
Risk |
Community
Relations |
Governance |
Clean
Technology
Adoption |
Health
and
Safety |
Water
Management |
Air
Quality |
Diversity
and
Inclusion |
Indigenous
Relations |
Ecological
Impacts
/
Biodiversity |
|
Table 2:
Mancal Key
Sustainability
Issues |
 |
 |
Our operations in
natural gas and oil
and infrastructure
assets exposes us to
environmental
impacts. We assess
environmental
impacts primarily
through the use of
the “control
approach”.
Throughout this
section we have
noted where we see
strengths and gaps
in our
understanding,
reporting and
management of
environmental risks.
In 2019, Mancal
Energy commenced
actively working on
an initiative hailed
as MEI 2.0. The
focus of the
initiative was to
streamline both back
office and field
processes through
digital
transformation to be
a low-cost energy
producer. The
economic prosperity
that was realized
from the initiative
continues to be a
significant
contributor to the
Company’s overall
strategy of lowering
our carbon
footprint. Through
this process we have
proven that we can
deliver our business
with a focus on
environmental
initiatives while
remaining
competitive and
sustainable.
2.1 Climate
Change
Our climate change
reporting is
structured as per
guidance from the
Financial Stability
Board’s TCFD
recommendations.
2.1.1 Governance
Climate
change-related
impacts are governed
by Mancal’s Board,
specifically through
our Health, Safety
and Environment
Committee.
2.1.2 Strategy
Our strategy is to
reduce the absolute
and GHG emissions
intensity of
our operations over
time. Focus areas
are as follows:
1. Zero
Methane Emissions
Wellsite
We installed a
chemical injection
pump system, called
“Crossfire -
Clean Air and
Chemical Management
Solution”, which is
manufactured
by LCO Technologies.
This ultra-low power
chemical injection
pump
system is designed
to reduce
maintenance costs,
chemical costs, and
methane emissions
all with the same
reliability as
standard pneumatic
pumps.
The “Crossfire”
solution centers on
a solar powered
instrument air
compressor to
produce clean, dry
compressed air for
use in the pneumatic
system as opposed to
production gas. It
is powered by solar
energy and is
capable of running
for days without
recharge. The system
provides exact
chemical volume
injection The
platform tracks and
stores data to
achieve profitable
emission reductions
utilizing Alberta’s
carbon credit offset
system. Mancal
continues to
research and
implement solutions
with the goal of
lowering our methane
emissions. |
2. Zero-flaring well
test and clean-up solutions
In 2021, we reduced flared
volumes and corresponding
emissions from new wells by
capturing and selling
natural gas volumes through
“in-line” temporary
pipelines. These volumes
would otherwise be flared
during post-fractured
clean-up periods and testing
operations.
3. Tank Vapour
Recovery
In 2019, the Company
installed a new vapour
collection system at our
Karr property to capture 100
per cent of the natural gas
that previously escaped from
the tanks that are used to
store oil prior to shipping.
During oil storage, light
hydrocarbons dissolve in
crude oil, resulting in
methane vapourization. These
vapours are often vented to
the atmosphere or flared. To
prevent emissions of these
light hydrocarbon vapours,
Mancal Energy uses this
vapour collection technology
on its oil storage tanks
where practical.
Mancal’s tank vapour capture
system eliminates 100 per
cent of methane emissions
from entering the atmosphere
each year.
4. Pneumatic Device
Conversions
In 2019, Mancal Energy
partnered with an
award-winning climate
solution company to replace
100 per cent of the
Company’s high bleed
pneumatic controllers
resulting in 3,200 tCO2e
annual emissions reduction.
Mancal is committed to
reducing methane emissions
on all existing sites. On
sites where high venting
natural gas driven pneumatic
pumps are used, Mancal plans
to replace with solar
powered chemical pumps. The
first phase executed in
2021, reduce venting
emissions by 20 per cent
over 2020 levels. The second
phase of this replacement
could further reduce venting
levels up to 50 per cent of
2020 venting emissions or a
reduction of 4,100 tCO2e.
In two of our operating
areas, we have also
installed Sirius solar
chemical injection pumps
which have eliminated
methane venting from onsite chemical
injection activities.
5. Fuel Switching
We utilize bi-fuel drilling
rigs, where and when
available, which substitute
the use of carbon intensive
fuels such as diesel with
natural gas to reduce the
carbon intensity of
operations. MEI also trialed
the use of natural
gas-powered electric
generators for wellsites in
a core area as a
substitution for diesel
generators. The electric
generators reduce diesel
consumption and
significantly reduce
emissions of CO2, NOx, and
SOx from these sites.
We are evaluating climate-related transition and physical risks over the short, medium, and long-term, but are in the early stages.
We are acutely aware that certain weather events could impact our facility investments, such as wildfires, extreme cold weather and/or snowfall.
Mancal Energy maintains a Fire Control Plan to proactively identify risks and manage through prevention strategies to reduce the negative impacts of wildfire. The information in the plan is used to enhance local knowledge and communications between the Forest Protection Division and the Company and has been effective in reducing these negative impacts.
We have not conducted a climate scenario analysis to inform our resilience under different scenarios. As we mature our understanding of scenario analysis, we may adopt this as a planning tool to further support our strategy.
2.1.3 Risk and Opportunity
Climate-related risks and opportunities are identified through interactions with our Board, employees, stakeholders, peers,
Government and through key analysis from credible energy authorities, such as the IEA, etc. Mancal’s management team
performs an annual risk assessment for the Audit and Risk Committee. The exercise highlights operational and market risks,
including climate related risks, and provides an assessment of the overall risk severity for the company based on several
risk factors; complexity of business and environment, organizational and system changes, number and nature of operating
locations, degree of information sensitivity and dollar exposure.

In 2016, the federal government set a target of reducing methane emissions (from the oil and gas sector) by 40-45 per cent below 2012 levels by 2025. They also put regulations in place to achieve this target. In addition, Alberta set a target to reduce methane emissions from upstream oil and gas by 45 per cent over 2014 levels.
On June 21, 2018, the Greenhouse Gas Pollution Pricing Act (“GGPPA”) came into force. Under the GGPPA, the federal government implemented a national price on GHG emissions. On January 1, 2019, the GGPPA’s backstop mechanisms came into force in provinces and territories that did not have an independent carbon pricing program or where the existing program was not deemed equivalent to the federal system. The federal government has proposed escalating the national price on carbon by $15 per tonne each year from 2023 until it reaches $170 per tonne in 2030.
On January 1, 2020, the Government of Canada applied the federal fuel charge in Alberta under the “GGPPA”. The GGPPA includes provisions to exempt facilities subject to provincial policies that meet federal benchmark criteria. The Technology Innovation Emissions Reduction (“TIER”) regulation in Alberta complies with the federal criteria and is an improved system that assists companies in finding innovative ways to reduce emissions and invest in clean technology. In 2019, Mancal Energy’s TIER application to designate its facilities as an aggregate was accepted and in 2020 Mancal submitted its Aggregate Benchmark Application and Compliance Report.
In 2021, the federal government announced its ambition to establish a new methane reduction target of 75 per cent reductions over 2012 levels by 2030.
Our team is committed to reducing emission intensity and absolute emissions from the Company’s operations and is focused on reducing methane leaks, reducing flaring as well as limiting power consumption through energy efficiency measures. Historically, Mancal has dedicated a significant amount of effort on methane emissions reduction activities as methane is 25 times more impactful on the environment than carbon dioxide over a 100-year period. Past actions include a methane reduction initiative that focused capital investment into leading emission reduction technologies.
2.1.4 Metrics and
targets
GHG emissions occur within
our oil and gas production
facilities. They are
produced from flaring,
combustion, and venting.
Emissions from operations
can be classified as direct
(scope 1) or indirect (scope
2). Direct emissions result
from stationary combustion,
flare, vent and fugitive
sources while indirect
emissions are associated
with electricity
consumption.
Our direct emissions are
primarily generated by the
combustion of natural gas
used in compressors,
heaters, flares, and power
generators. In 2020, our
direct emissions were 38,723
tonnes CO2e, a 27
per cent decrease over 2019
emissions (53,395 tonnes CO2e)
and inline with a 25 per
cent decrease in gross
operated sales year over
year. We made substantial
steps to reduce a
significant source of GHG
emissions by reducing our
total methane emissions by
46 per cent over 2019 levels
to 14,986 CO2e.
The largest contributor to
this reduction was the
capturing of vented volumes
at our Karr facility which
resulted in a 58 per cent
reduction in vented
emissions. Our indirect
emissions were 2,976 tonnes
CO2e;
similar to 2019 with
electricity consumption
unchanged.
Our corporate emissions
intensity (direct and
indirect emissions) was
0.0205 tCO2e in
2020.
We report GHG emissions
using the “control approach”
as guided by the GHG
Protocol Corporate
Accounting and Reporting
Standard. The majority of
GHG emissions are from
combustion at our production
facilities. Methane
emissions account for 14,986
tonnes CO2e or 39
per cent of total GHG
emissions.
We have not reported scope 3
or value chain GHG emissions
but will continue to
evaluate this moving
forward.
GHG
Emissions
(tonnes CO2e)
|
2020 |
2019
|
Direct
(Scope 1) |
38,723 |
53,395 |
% Methane or
CH4
emissions |
39% |
52% |
Indirect
(Scope 2) |
2,978 |
2,976 |
|
In 2021 we established GHG reduction goals, which include:
- By end-2025, reduce GHG
emissions intensity by 50
per cent over 2019 levels.
- By end-2025, reduce total
flared and vented emissions
by 50 per cent over 2019
levels.
TOP OF PAGE
2.2
Air Emissions
Air emissions in oil and gas
facilities in Canada are
highly regulated. Pollutants
deemed more significant are
required to be reported to
the National Pollutant
Reporting Inventory include
carbon monoxide, nitrogen
dioxide and volatile organic
compounds.
Air emission releases can be
harmful at higher volumes
and if located within areas
of human occupancy. Our air
emissions performance in
2020 is outlined below. Data
is reported using a “control
approach”, which guides our
GHG reporting.
Air
Emissions
(tonnes)
|
2020 |
2019
|
Nitrogen
oxides (NOx) |
190 |
148 |
Sulphur
dioxide (SO2) |
1.2
|
1.0 |
Volatile
Organic
Compounds
(VOCs) |
344 |
558 |
Particulate
Matter
(PM10) |
7.6 |
8.2 |
|
TOP OF PAGE
2.3 Water Management
Water is used for drilling
and completion operations
which includes hydraulic
fracturing. We do not use
any hydrocarbonbased fluid
to fracture. The Company
participates in an online
chemical disclosure registry
which provides information
on hydraulic fracturing and
chemical usage, government
regulations and groundwater
protection. The protection
of groundwater is paramount
in the Company’s operations.
Water that returns to
surface following completion
of a fracture operation is
managed in accordance with
AER standards. The
protection of groundwater is
also managed through
wellbore design and
construction which ensures
that groundwater is isolated
and protected from drilling
fluids and all oil and gas
activities. Produced water
is sent to a third-party
disposal or reused in our
operations.
Fresh water
withdrawal in 2020
was 10.6 thousand m3
(2019 - 1.5 thousand
m3). The associated
increase year over
year was a result of
increased drilling
activity. Water use
for fracturing
activities in 2020
was 9.1 thousand m3.
We expect water use
to remain at 2020
levels in future
years as we continue
to carry out
drilling operations
using fracturing
technology. Although
water use has
increased, this
technology allows us
to extract further
resource from
existing reservoirs.
We are actively
working on a water
management strategy,
which will guide our
future water use and
reduction ambitions.
Mancal Energy
operates in areas
with low to medium
overall water risk
as identified
through use of the
World Resource
Institute’s Aqueduct
Water Risk Atlas
tool, which maps
water risks such as
floods, droughts,
and stress, using
open-source, peer
reviewed data.
Beyond the tools,
the Aqueduct team
works one-on-one
with companies,
governments, and
research partners to
help advance best
practices in water
resources management
and enable
sustainable growth
in a
water-constrained
world made possible
by the support of
the Aqueduct
Alliance, a
coalition of
companies,
governments and
foundations at the
cutting edge of
water stewardship.
|
 |
An image of overall water
risk in Alberta, taken from
the Aqueduct tool, is shown
in the corresponding map.
Our areas of operations are
identified on the image
above.
Our water data is reported
based on the “control
approach”, which guides our
GHG reporting.
TOP OF PAGE
2.4 Land Disturbance and
Biodiversity
Our approach to pad design
and horizontal directional
drilling maximizes our
connection to available oil
and gas reserves while
limiting the surface area
disturbed by our operations.
For all new developments,
the Company recognizes and
respects the existing
biodiversity within an area
and actively works to
minimize operational impact.
In areas of interest,
studies to identify current
activity, flora and fauna
are conducted by industry
experts during the initial
phase of consideration.
Mancal Energy operates and
maintains more than 260
kilometers of pipeline, 13
multi-well oil batteries and
more than 280 wellsites. The
Company’s spill management
efforts include monitoring
and reviewing the integrity
of our assets.
Emergency response training
is conducted annually to
ensure timely response
should a spill occur. We
enhance our asset integrity
through pipeline inspections
such as smart pigging,
pipeline surveillance,
application of corrosion
inhibitors and the
abandonment of high-risk
wells.
TOP OF PAGE
2.5 Abandonment and
Reclamation of Assets
The Company’s land use is
temporary in nature. As
such, we are committed to
returning the land to its
owners in a responsible
manner at the completion of
the development and
production of a resource.
Although the Company
currently estimates the
associated cost of its asset
retirement obligations to
occur over a 40-year span,
we continue to proactively
manage any liabilities as
they arise and are compliant
with the AER’s requirements.
Mancal Energy remains
proactive in ensuring wells
are abandoned in a timely
fashion and lands are
reclaimed to original
condition. Currently, Mancal
Energy has zero wells that
have been inactive for more
than 20 years and only three
net wells that have been
inactive for more than 10
years.
Mancal Energy contributes to
the Orphan Well Association,
which is managed by the
Province of Alberta, to
address the abandonment of
orphan wells. The Company
prioritizes the reclamation
of sites with higher
environmental risks. In the
past year, Mancal has
obtained three reclamation
certificates.

TOP OF PAGE
2.6 Operational
Impact
The Company assesses the
potential impacts of
operations and is sensitive
to the cumulative effects
that an operation can
have on an area. We continue
to work with industry
experts, where applicable,
to minimize disturbance.
Examples of our actions to
mitigate impact include:
- Increasing our
connectivity to wellsites to
effectively monitor day to
day operations through
digital surveillance. This
initiative reduces noise,
dust, and vehicle intrusion
in the communities in which
we operate.
- In 2021, we introduced
cameras at our wellsites to
complement our digital
surveillance. Increased
surveillance reduces
the amount of site visits
required, which reduces
travel time, reduces safety
exposure hours and frees our
operators to work on other tasks.
- Working with farmers to
ensure our operations do not
bring in any unwanted plant
species. In Central Alberta,
we
implemented a full
protection plan to ensure
farmland would not be
contaminated with clubroot
disease that affects canola crops. The protection
plans included equipment
cleaning and decontamination
procedures.

TOP OF PAGE
|
|
Mancal Energy recognizes that entry into an area is a privilege and therefore works with communities to develop oil and gas resources in a respectful and responsible manner. As a good neighbor, we ensure there is social funding to add to the economic well-being of the communities in which we operate.
Over the last 20 years, Mancal Energy has invested over $900 million in Canada largely in acquiring land, drilling wells, and building facilities. In doing so we have engaged over 6,000 contractors and suppliers in various communities, employed local full-time staff and have paid $260 million to governments, municipalities, and regulators in the form of fees, royalties, and taxes. These funds contribute to Alberta’s investment in building schools and much of the infrastructure that our communities continue to enjoy today. The Company contributes to social programs in communities that we are involved in by funding schools and athletic programs. We are committed to increasing the prosperity of communities and sharing in the economic benefits of resource development. |
|
|
3.1 COVID-19 Impact and
Management
Mancal’s response to the
pandemic was swift,
proactive, and was focused
on keeping our staff and
their families safe. We were
early adopters of rapid
testing programs in
collaboration with Creative
Destruction Labs and the
Government of Alberta.
Mancal has since been
approved to participate in
pilot programs for at-home
rapid testing. Our rapid
test program has expanded to
include testing at active
field locations (with
oversight by an emergency
medical technician) and also
includes guests that are
welcomed to Mancal offices.
Aligned with the government
vaccination protocols,
Mancal has implemented a
mandatory vaccination
requirement for all staff.
TOP OF PAGE
3.2
Indigenous Relations
The Company has assets that
are adjacent to Indigenous
lands or are situated on
crown lands where
traditional use has been
established. We are
committed to respectful
collaboration and ensuring
that the rights and title
holders’ heritage is
considered in the
development of these lands.
Mancal Energy consults with
Indigenous leaders to
coordinate and facilitate
discussions around planned
projects. The Company aims
to improve the economic
situation in communities in
and around our operations
through engagement and
economic activity.
Throughout our engagement
process we invite local and
adjacent stakeholders and
rights holders to
collaborate and understand
issues regarding the
development plans. The
Company gives back to the
community in providing
support for education and
infrastructure.
The Aboriginal Consultation
Office of the Government of
Alberta has established
procedures for consulting
with Indigenous communities
about their traditional
lands. Mancal Energy
believes in the consultation
process and trusts that
consultation will bring the
company and community
together to ensure the
project’s success.
Mancal has made a commitment
to educate our staff on the
history of Residential
Schools. We have implemented
a speaker series whereby we
welcome subject matter
experts to share insights
and information that will
help staff appreciate the
intergenerational trauma
caused by the residential
school experience. We have
also created a Truth and
Reconciliation library of
Indigenous authors; much of
the information provided is
through the National Center
for Truth and
Reconciliation.
TOP OF PAGE
3.3 Health and Safety
3.3.1 Management
Approach
Mancal Energy has an
extensive health, safety,
and environment (HSE)
program which involves
quarterly reporting to the
Board on HSE performance.
Health and safety is managed
at the full Board level.
Everyone employed by Mancal
Energy is responsible for
maintaining our HSE program.
The prevention of incidents
and accidents is achieved
through front of mind
awareness gained from
tailgate to boardroom safety
conversations, hazard
awareness training, and near
miss, incident and accident
reporting followed by
thorough investigations. The
HSE program is paramount to
the Company. We track key
data and safety statistics
which allows us to identify
trends and opportunities to
strengthen our program.
All contractors providing
service to Mancal Energy go
through a pre-qualification
process which requires them
to submit appropriate worker
compensation, insurance, and
safety program documentation
for review.
We experienced zero
fatalities, zero recordable
injuries and zero lost-time
injuries in 2020. In our
history of operating, we
have not experienced a
fatality. It is a testament
to our safety culture and
the diligence of our field
staff.
3.3.2 Education &
Training
At Mancal Energy, we provide
an e-learning experience to
our staff and operators
through an online library
that is used as a
resource to continue
development of our
competency management and
training system. Our
e-learning education and
training platform allows for
both voluntary and mandatory
modules based on risk and
time sensitivities. For
critical competencies,
mandatory tests are required
to see that those in
positions of responsibility
are equipped with the
knowledge and can perform
competently and safely. The
e-library also provides a
resource to enhance or
refresh one’s knowledge as
needed.
3.3.3 Emergency Response
Plan
Our Emergency Response Plan
(“ERP”) provides the steps
and procedures required to
immediately respond in the
event of an accident. The
plan is focused on reducing
the risk of injury and
effects on the environment.
To ensure our people and
those of our contractors are
prepared in the event of an
accident, we conduct mock
drills of real-life
scenarios as well as
tabletop exercises to train
people to provide a
well-coordinated,
systematic, and measured
approach in the event an
actual accident.
The goal is a healthy,
injury free environment for
our workforce.
TOP OF PAGE
3.4 Our People
Mancal Energy is committed
to providing a culture of
inclusivity and empowerment
by encouraging a progressive
environment where employees
are engaged, motivated, and
challenged. We provide
meaningful employment where
all employees are treated
fairly.
Additionally, innovation and
creativity are encouraged,
and entrepreneurial
excellence is rewarded. Our
relationships with staff,
contractors and partners are
important to us, and we act
and treat everyone with
integrity and respect. The
Company believes in
compensating fairly and
providing a safe and healthy
work environment. Through
our recruitment process and
beyond, we focus on
attracting, retaining, and
developing talent.
In 2020, we had a total
workforce of 23 employees,
including 57 per cent female
employment. Our turnover
rate was 9.5 per cent, which
we consider to be within an
acceptable range. Currently
we have a small number of
employees under 30, which we
have identified as an area
of potential improvement to
ensure we have a pipeline of
talent coming through our
ranks.
3.4.1 Mental
Health
Mancal provides
ongoing education
and information on
mental health
through our
membership with the
Canadian Mental
Health Association’s
“Not Myself Today”
program. We also
engage with wellness
consultants to
provide virtual
mental health
wellness sessions
for all staff. We
continue to offer
the Employee and
Family Assistance
Program to all staff
and their family
members.
3.4.2 Flexible
Work from Home
Mancal is piloting a
new Flexible Work
from Home program
that allows eligible
staff to work from
home one day per
week.
TOP OF PAGE
3.5 Diversity and
Inclusion
Hiring and retaining
talented
professionals from
underrepresented
groups to build a
workforce that
better represents
our society is of
great importance at
Mancal. For example,
Mancal is proud to
have a strong
presence of female
personnel in various
positions such as
Mancal Board Chair,
Mancal Board Members
(over 40 per cent of
the board including
the Chair). In
addition, 25 per
cent of the MEI
senior leadership
team is comprised of
female personnel.
Mancal is committed
to creating a work
environment that
welcomes and gives a
sense of belonging
to talented
professionals
regardless of their
race, sex, or
religion.
In addition, 57 per
cent of our
workforce is made up
of female personnel.
Moving forward we
continue to evaluate
how we can further
engage and promote
diversity and
inclusion, including
potentially
reporting on visible
minorities in our
organization. We
believe this is a
sensitive area and
are approaching this
with a level of
care.
TOP OF PAGE |
 |
4.1 Board Committees
Our Board provides oversight
on the strategic planning of
the business, provides
oversight on the business
process to identify
potential risks and is the
primary group influencing
corporate governance. The
Board has a Human Resources,
Compensation and Nominations
Committee, an Audit and Risk
Committee, a Reserves and
Valuation Committee, a
Transaction Committee and an
Investment Advisory
Committee. Health and Safety
is managed at the full Board
level. The Board has
developed and approved
management systems that
ensure Mancal Energy’s
operations comply with all
laws and exceed the
applicable regulations with
respect to the health and
safety of all persons
associated with the
operations of the Company
and the protection of the
environment. The Audit and
Risk Committee meets
semi-annually and is
responsible for
overseeing financial
reporting, internal
controls, risk, and
compliance. The Board meets
on a quarterly basis.
TOP OF PAGE
4.2 How Sustainability
or ESG is Governed at Mancal
Sustainability or ESG is
governed through our full
Board. The current ESG focus
is centered on recent policy
decisions, energy
transition, and diversity
and inclusion. ESG is a
consideration in all
investment decisions.
TOP OF PAGE
4.3 Key ESG Policies
4.3.1 Business Practice
& Ethics Policy
It is the policy of Mancal
Energy to maintain the
highest standard of ethics
in its relationships with
customers, governments,
suppliers, competitors,
joint venture partners, its
employees, and the community
at large. We must not only
conduct, but must be seen to
conduct, our business
dealings in accordance with
high ethical standards.

4.3.2 Equal Opportunity
Employer
It is the policy of Mancal
Energy that all persons are
entitled to equal employment
opportunity without
discrimination based on the
federally and provincially
legislated prohibited
grounds. Specifically,
employment opportunities are
open to all qualified
candidates based on core
competencies.
4.3.3 Whistleblower
Policy Mancal
Mancal Energy believes in
the protection of
individuals against
retaliation where an
employer’s activities are
deemed to be illegal,
unethical, or dishonest. The
Company subscribes to the
C.A.R.E. program which is an
acronym for Confidential
Anonymous Reporting for
Employees. This is an
independent service operated
by Grant Thornton LLP which
allows employees to
anonymously raise a concern
of misconduct if a violation
has not been adequately
addressed. While this aspect
of governance has been
mandated for public
companies, it is not a
requirement for a private
company. Mancal Energy is
serious about the values and
ethics of the organization
and has therefore created a
culture of support.
4.3.4 Health & Safety
Policy
Mancal Energy embraces and
promotes a culture where
health and safety, including
psychological health, are an
integrated component of our
overall approach. The
Company is committed to
providing a safe and healthy
work environment for
employees, contractors,
neighboring communities, and
other stakeholders who may
be affected by our
operations. In fulfilling
this commitment, we have
developed a health and
safety program that details
specific health and safety
requirements and guidelines
in compliance with all
legislative requirements.
The goal is a healthy,
injury free workplace for
all workers.
 |
4.3.5 Respect in
the Workplace Policy
Mancal Energy is
committed to
ensuring that
employees are
provided with a work
environment that is
respectful and safe.
Any type of
harassment or
behavior that
affects the safety
and security of
employees in the
workplace is
prohibited by the
Company and is not
tolerated. All
employees are
required to attend a
“Respect in the
Workplace” training
seminar.
4.3.6
Environmental Policy
Mancal Energy is
focused on
minimizing the
adverse impacts on
the environment
resulting from its
business activities.
To achieve that
objective, the
Company considers
environmental
impacts in project
decisions and has
built management
plans that include
these factors. We
focus on prevention,
scheduled
environmental
reviews and employee
training and
education as
proactive measures
to prudently operate
the Company’s asset
base.
We are compliant
with all applicable
laws, regulations
and have developed
appropriate
emergency response
procedures and
remedial action
plans that minimize
adverse effects on
the environment and
ensure any impacts
are handled timely
and efficiently. The
Company is
responsive and
sensitive to the
public’s concerns in
the conduct of its
business activities
and is accountable
for its actions.
TOP OF PAGE
|
Our organization was built
through hard work, honest
leadership with strong
ethics and on a foundation
of environmental and social
responsibility. We are proud
of where we came from, and
we are excited for what is
yet to come. Forward looking
sustainability goals and
targets follow:
Goal
|
Target |
UN
SDG
Alignment |
Climate
Change
Leadership |
By end-2025,
reduce GHG
emissions
intensity by
50 per cent
over 2019
levels |
Goal 13:
Climate
Action /
Target 13.2 |
Climate
Change
Leadership |
By end-2025,
reduce total
flared and
vented
methane
emissions by
50 per cent
over 2019
levels.
|
Goal 13:
Climate
Action /
Target 13.2 |
Gender
Diversity |
Maintain
women Board
participation
at a level
of 30 per
cent or
higher |
Goal 5:
Gender
Equality /
Target 5.5 |
Gender
Diversity
|
By 2025,
ensure women
represent 30
per cent of
our
executive |
Goal 5:
Gender
Equality /
Target 5.5 |
Gender
Diversity |
Ensure
company-wide
women
employees
remain
within a
range of
40-60 per
cent
|
Goal 5:
Gender
Equality /
Target 5.5 |
|

TOP OF PAGE
PERFORMANCE
SUMMARY - METRICS |
E N
V I R O N M
E N T A L |
Greenhouse
Gas
Emissions |
Unit |
2020 |
2019 |
SASB
Guidance |
Scope 1 GHG
Emissions |
|
|
|
|
Carbon
dioxide (CO2) |
tonnes
CO2e |
22,916 |
25,224 |
EM-EP-110a.1 |
Methane
(CH4) |
tonnes
CO2e |
14,986 |
27,502 |
EM-EP-110a.1 |
Nitrous
Oxide (N2O) |
tonnes
CO2e |
821 |
669 |
EM-EP-110a.1 |
Total Gross
Scope 1 GHG
Emissions |
tonnes
CO2e |
38,723 |
53,395(1) |
EM-EP-110a.1 |
|
|
|
|
|
Scope 1 GHG
Emissions
Intensity |
tonnes
CO2e/boe |
0.019 |
0.020(2) |
Industry and
TCFD |
Methane GHG
Emissions as
a percentage
of Scope 1
GHG |
percentage
(%) |
39% |
52%(3) |
EM-EP-110a.1 |
|
|
|
|
|
Scope 1 GHG
Emissions by
Activity |
|
|
|
|
Flaring |
tonnes
CO2e |
6,844 |
8,107 |
EM-EP-110a.2 |
Stationary
Combustion |
tonnes
CO2e |
18,553 |
20,588 |
EM-EP-110a.2 |
Process
Emissions |
tonnes
CO2e |
0 |
0 |
EM-EP-110a.2 |
Vented
Emissions |
tonnes
CO2e |
8,339 |
19,660 |
EM-EP-110a.2 |
Fugitive
Emissions |
tonnes
CO2e |
4,987 |
5,040 |
EM-EP-110a.2 |
Total Gross
Scope 1 GHG
Emissions |
tonnes
CO2e |
38,723 |
53,395 |
EM-EP-110a.1 |
|
|
|
|
|
Total Scope
2 GHG
Emissions |
tonnes
CO2e |
2,976 |
2,978 |
TCFD |
Total Scope
3 GHG
Emissions |
tonnes
CO2e |
N/R |
N/R |
TCFD |
|
Air
Quality |
Unit |
2020 |
2019 |
SASB
Guidance |
NOx
Emissions |
tonnes |
190 |
148(4) |
EM-EP-120a.1 |
SOx
Emissions |
tonnes |
1 |
1 |
EM-EP-120a.1 |
Volatile
Organic
Compounds
(VOCs) |
tonnes |
344 |
558 |
EM-EP-120a.1 |
Particulate
Matter
(PM10) |
tonnes |
8 |
0 |
EM-EP-120a.1 |
|
Water
Management |
Unit |
2020 |
2019 |
SASB
Guidance |
Total fresh
water
withdrawn |
m3 |
b |
1,474 |
EM-EP-140a.1 |
Percentage
water
withdrawn
from regions
with High or
Extremely
High
Baseline
Water Stress |
Percentage
(%) |
0% |
0% |
EM-EP-140a.1 |
|
|
|
|
|
Total fresh
water
consumed |
m3 |
10,632 |
1,474 |
EM-EP-140a.1 |
Percentage
water
consumed
from regions
with High or
Extremely
High
Baseline
Water Stress |
Percentage
(%) |
0% |
0% |
EM-EP-140a.1 |
|
|
|
|
|
Volume of
flowback
generated |
|
|
|
|
Discharged |
Percentage
(%) |
0% |
0% |
EM-EP-140a.2 |
Injected |
Percentage
(%) |
100% |
100% |
EM-EP-140a.2 |
Recycled |
Percentage
(%) |
0% |
0% |
EM-EP-140a.2 |
Total |
m3 |
8,482 |
10,688 |
EM-EP-140a.2 |
|
|
|
|
|
Fresh water
intensity |
m3/Boe |
0.00520649 |
0.00054041 |
Industry |
|
|
|
|
|
Percentage
of
hydraulically
fractured
wells for
which there
is public
disclosure
of all
fracturing
fluid
chemicals
used |
Percentage
(%) |
100% |
100% |
EM-EP-140a.3 |
|
Biodiversity |
Unit |
2020 |
2019 |
SASB
Guidance |
Description
of
environmental
management
policies and
practices
for active
sites |
Number |
Disclosure |
Disclosure |
EM-EP-160a.1 |
Number of
hydrocarbon
spills,
volume in
Arctic,
volume
impacting
shorelines
with ESI
rankings
8-10 |
Number |
0 |
0 |
EM-EP-160a.2 |
Aggregate
volume of
hydrocarbon
spills,
volume in
Arctic,
volume
impacting
shorelines
with ESI
rankings
8-10, and
volume
recovered |
Barrels
(bbls) |
0 |
0 |
EM-EP-160a.2 |
|
S O
C I A L |
Community
Relations
|
Unit |
2020 |
2019 |
SASB
Guidance |
Percentage
of (1)
proved and
(2) probable
reserves in
or near
areas of
conflict |
Percentage
(%) |
0 |
0 |
EM-EP-210a.1 |
Number and
duration of
non-technical
delays |
Number
and days |
0 |
0 |
EM-EP-210a.2 |
|
Workforce
Health &
Safety |
Unit |
2020 |
2019 |
SASB
Guidance |
Total
recordable
incident
rate (TRIR) |
Rate |
0 |
0 |
EM-EP-320a.1 |
Fatality
rate |
Rate |
0 |
0 |
EM-EP-320a.1 |
|
Employees |
Unit |
2020 |
2019 |
SASB
Guidance |
Total
employees |
Number
or count |
23 |
28 |
|
Full-time
employees |
Number
or count |
23 |
28 |
|
|
|
|
|
|
Women |
|
|
|
|
Total
workforce |
Number
or count |
13 |
12 |
|
Total
workforce |
Percent
(%) |
57% |
43% |
|
Managers |
Percent
(%) |
4% |
4% |
|
Executive |
Percent
(%) |
4% |
4% |
|
Board |
Percent
(%) |
13% |
7% |
|
|
|
|
|
|
Retention |
|
|
|
|
Turnover
rate, total |
Percent
(%) |
10% |
0% |
|
Turnover
rate,
voluntary |
Percent
(%) |
10% |
0% |
|
|
G O
V E R N A N
C E |
Business
Ethics &
Transparency
|
Unit/strong> |
2020 |
2019 |
SSASB
Guidance |
Percentage
of (1)
proved and
(2) probable
reserves in
countries
that have
the 20
lowest
rankings in
Transparency
International's
Corruption
Perception
Index
|
Percentage |
0 |
0 |
EM-EP-510a.1 |
|
A C
T I V I T Y |
Activity
|
Unit |
2020 |
2019 |
SASB
Guidance |
Oil
Production |
Mbbl/day |
1.245 |
1.712 |
EM-EP-000.A |
Natural Gas
Production |
MMscf/day |
0.019 |
0.016 |
EM-EP-000.A |
NGLs
Production |
MMscf/day |
0.008 |
0.006 |
EM-EP-000.A |
Number of
offshore
sites |
Number |
0 |
0 |
EM-EP-000.B |
Number of
terrestrial
sites |
Number |
433(5) |
420(5) |
EM-EP-000.C |
|
TOP OF PAGE
NOTES TO THE MANCAL
ESG PERFORMANCE
TABLE |
- Mancal 2019 GHG
information was restated
to align with GHG
calculation
methodologies from TCFD.
- Mancal 2019
carbon intensity was
restated as a result of
changes to 2019 GHG
emissions – see note
1.
- Mancal 2019
percentage methane of
total GHG emissions was
restated as a result of
changes to 2019 GHG
emissions – see
note 1.
- Mancal 2019
NOx was restated to due
to calculation
methodology changes.
- The number of
terrestrial sites is
reported on a gross
basis and is the
summation of producing
operated wells, inactive
operated
wells, decommissioned
wells and wells in
active reclamation.
TOP OF PAGE
The ESG report has been
prepared for informational
purposes only. Mancal makes
no express or implied
representation or warranty as to the
accuracy or completeness of
the information contained
herein. The estimates or
projections of future financial and operating
performance were prepared by
or derived from information
supplied by the management
of the
Company and involve
significant assumptions,
which may not be realized in
fact. Such estimates,
projections or other
forward-looking statements
have been provided to assist
in an evaluation of the
Company with respect to its
ESG activities
and performance but are not
to be viewed as factual and
should not be relied upon as
an accurate representation
of future
results. Actual results may
differ materially from those
in such estimates,
projections or other
forward-looking statements.
Mancal expressly disclaims
any and all liability that
may be based on information
set forth in the ESG report,
errors therein
or omissions therefrom.
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