Terms of Use

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These Terms of Use were last amended on July 5, 2017

Your Agreement with Parex Resources Inc. (“Parex”)

In consideration of your being provided with access to this website (the “Website”), including all web pages and content contained within or accessed through or by the Website, you accept and agree to the following terms and conditions (the “Terms of Use”). Any downloading of any documents or use of any Content (as defined below) contained on or accessible via the Website is conditional on your acceptance of these Terms of Use and constitutes and confirms your acceptance of these Terms of Use. These Terms of Use define the limited license granted to you, contain disclaimers, indemnities and limitations, and limit your legal rights. If you do not accept and agree to these Terms of Use, you must not access this Website or its Content.

Content

“Content”, as used in these Terms of Use, includes without limitation all textual content, information, data, documents, records, graphics, images, photographs, audio, video, animation, hypertext links and the Statements (as defined below).

Grant of Limited, Revocable, Non-exclusive and Personal License

Conditional on your accepting and agreeing to these Terms of Use and your strict compliance with them, you are granted a limited, revocable, non-exclusive, personal and temporary license and permission to access and view the Website and to access, download, display, view, print, and save the Content for your own personal and non-commercial use. You do not have permission to modify the Content, or to publish, distribute or disseminate the Content, or to create or develop derivative works based on or incorporating the Content, or to convert the Content into another format, or to create any compilation incorporating the Content or any part thereof, or to remove any proprietary notices or to use the Content in any other manner than permitted in these Terms of Use. This License may be terminated at any time by Parex without cause and without any liability whatsoever to you.

Investment Decisions

The information set out on this Website and the Content should not be used for the purpose of making investment decisions with respect to Parex’s securities or any other securities.

For public securities documents and public company information filed in relation to Parex, you are directed to documents on file with securities regulatory authorities, some of which may be accessed through the SEDAR website (www.sedar.com). Not all such documents and information are contained on this Website and the ones contained on this Website may not be current and you agree to not rely on the same.

Parex is subject to the securities laws of various jurisdictions. Information disclosed or provided by us pursuant to the securities laws of those jurisdictions is not intended to be in any way qualified, amended, modified or supplemented by the information otherwise available in, through, or on this Website.

If you are contemplating trading in Parex’s securities, you agree to only review our documents filed with securities regulatory authorities, including at www.sedar.com, and seek the advice of an authorized investment advisor.

No Solicitation

Material contained on or accessible through this Website or the Content is for information purposes only and is not intended to and does not constitute an offering or solicitation of securities in any jurisdiction.

Forward-Looking Statements

Any forward-looking statements (the “Statements”) contained on the Website are based on various information and data and a number of assumptions, analytical methods and financial and other models, any or all of which may prove to be incorrect. Although Parex believes that the expectations reflected in such forward-looking statements, and the information and data and the assumptions, methods and models upon which they are based, are correct, undue reliance should not be placed on forward-looking statements because Parex can give no assurance that they are, in fact, correct. Further, the industry involves risks and uncertainties and is subject to change and therefore the various assumptions, methods and models may prove to be incorrect. In addition to the assumptions and other factors which may be identified on the Website, these assumptions and factors may include:  current commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates, the price of oil; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; receipt of partner, regulatory and community approvals; royalty rates; future operating costs; effects of regulatory by governmental agencies; uninterrupted access to areas of Parex’ operations and infrastructure; recoverability of reserves and future production rates; the status of litigation; timing of drilling, completion and operational performance of wells; pipeline capacity; that Parex will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that Parex’ conduct and results of operations will be consistent with expectations; that Parex will have the ability to develop its oil and gas  properties in the manner contemplated; current or, where applicable, proposed industry conditions, laws and regulations will continue in effect or as anticipated as described herein; that the estimates of Parex’ reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects; that Parex will fulfill the contractual obligations required to retain its right to explore, develop and exploit any of its undeveloped properties; and other matters. Readers are cautioned that the foregoing list of assumptions and factors is not exhaustive. Certain documents and information contained on this Website that contain forward-looking statements may also contain information on the assumptions, factors, risks and qualifications upon which such forward-looking statements were made.

Furthermore, any forward-looking statements contained on the Website are made as at the date of their posting and Parex does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Additional information on these and other assumptions and factors that could affect Parex’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

Legal Jurisdiction

The laws of the province of Alberta, Canada, excluding its conflict of laws provisions, and the laws of Canada applicable in Alberta, shall govern your use of this Website and the interpretation, validity and effect of these Terms of Use. Subject to the rights of Parex to seek equitable relief in any court of competent jurisdiction, you agree that any legal action or proceeding between you and Parex which in any way concerns these Terms of Use or the use of the Website shall be brought exclusively in the courts of Alberta.  The foregoing will in all cases apply notwithstanding your physical location, jurisdiction, residence, or domicile.

Equitable Remedies

In the event of any breach by you of these Terms of Use, in addition to and not in substitution of any other right or remedy Parex may have, Parex shall have the right to seek equitable relief, including an injunction, in any court of competent jurisdiction, without the necessity of proving that damages are not an adequate remedy or of posting any security or bond.

Changes to the Terms of Use

You agree that Parex may modify or replace these Terms of Use at any time by posting the revised version on the Website. You agree that it is your responsibility to check for such revisions each time you access or use the Website or the Content, and each such access or use will confirm your acceptance of these Terms of Use, including any changes made.

Intellectual Property Rights

The Website, and the Content contained in or accessible through the Website (other than Third Party Links as described below), including all trademarks, trade names, designs and logos, together with the design, selection, arrangement and layout of the Website and its elements and features, are subject to copyright, trademark and other intellectual property rights of Parex, or its licensors, and are subject to international laws and treaties protecting intellectual property. All rights not expressly granted by these Terms of Use are reserved.

Framing of this Website or any Content, or linking to internal pages of this Website other than the home page located at http://www.parexresources.com/, without the express written permission of Parex is prohibited.

Parex and any of its related logos, graphics, and designs are trademarks of Parex Resources Inc., or its licensors, and all rights are reserved.

Disclaimers and Limitations

The Content is made available for general informational purposes only and subject to the Terms of Use. The Content does not constitute investment, financial, business, tax, legal, or other advice of any kind and you agree, warrant and represent that you will not use or rely on any Content for any of the same. You agree, warrant, and represent that you will not take any steps or actions, or refrain from taking any steps or actions, in reliance on, or based on, or because of the Content, or any portion thereof, including without limitation to the Statements, and that you will in all respects adhere to all provisions of the Terms of Use. You warrant and represent that any information, including personal information, provided by you to Parex will in all cases be true, complete, and accurate. You will indemnify Parex, its subsidiaries and affiliates and their respective directors, officers, employees, servants or agents from any damages arising out of any breach by you of the foregoing warranty and representations.

THE WEBSITE IS PROVIDED STRICTLY ON AN “AS IS”, “WHERE IS” AND “AS AVAILABLE” BASIS.

YOU ACKNOWLEDGE AND AGREE THAT IN NO EVENT WILL PAREX, OR ITS DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS, BE LIABLE IN ANY MANNER WHATSOEVER FOR ANY LOSS, CLAIM, COST, OR DAMAGES OF ANY NATURE OR KIND, INCLUDING, WITHOUT LIMITATION, ANY DIRECT, INDIRECT, GENERAL, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES, AND WHETHER SUCH DAMAGES ARISE OUT OF ANY USE OF OR MISUSE OF, OR DOWNLOADING OR VIEWING OF, OR INTERPRETATION OF OR RELIANCE UPON, THE CONTENT OF THIS WEBSITE, WHETHER AUTHORIZED OR UNAUTHORIZED, OR ANY ERRORS, INACCURACIES, OMISSIONS OR DEFECTS IN THIS WEBSITE OR THE CONTENT, INCLUDING, WITHOUT LIMITATION, DAMAGES FOR BUSINESS LOSS, HARM TO BUSINESS, LOSS OF PROFITS, FAILURE TO REALIZE EXPECTED RESULTS, PROFITS OR SAVINGS, INTERRUPTION OF ACTIVITIES, LOSS OF OR DAMAGE TO DATA OR COMPUTER SYSTEMS, OR ANY OTHER ECONOMIC OR PECUNIARY LOSS OR DAMAGE WHATSOEVER, REGARDLESS OF THE FORM OF ACTION OR LEGAL THEORY, INCLUDING TORT, CONTRACT, STRICT LIABILITY OR BREACH OF ANY DUTY.

YOU AGREE THAT THE FOREGOING SHALL APPLY EVEN IF SUCH DAMAGES ARE REASONABLY FORESEEABLE OR IF PAREX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND SHALL APPLY NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY REMEDY.

YOU FURTHER AGREE THAT, IN ANY EVENT, THE TOTAL AGGREGATE DAMAGES FOR WHICH PAREX MAY BE LIABLE TO YOU WITH RESPECT TO OR ARISING OUT OF ANY OF THE FOREGOING, OR THE CONTENT OF THE WEBSITE, OR ANY CLAIM OF ANY KIND ARISING UNDER THESE TERMS OF USE OR OTHERWISE SHALL BE IN ALL CASES LIMITED TO A MAXIMUM SUM OF ONE HUNDRED DOLLARS ($100.00) IN CANADIAN CURRENCY.

PAREX GIVES NO WARRANTIES, GUARANTEES, REPRESENTATIONS, OR CONDITIONS THAT THE WEBSITE WILL OPERATE WITHOUT ERROR OR BE AVAILABLE AT ANY TIME OR AT ALL.

Insecurity of the Internet

You acknowledge your understanding that the Internet, including email, is an inherently insecure and not fully dependable medium and/or means of communication or of obtaining information and that data and information may be lost, modified, distorted, intercepted, reviewed, or read while in transit. Further, the Content may not be complete or accurate when accessed, downloaded, viewed, or used by you. You agree that Parex shall have no liability whatsoever for any such loss, modification, distortion or interception, or for incomplete or inaccurate Content.

You also agree that, while you may send email messages to Parex by use of links in this Website, where and when the same are available, which availability Parex does not warrant or represent or otherwise, you understand the risks of using email. Parex cannot ensure that an email from you will not be intercepted or altered in transit, or that Parex will in fact receive it. If you wish to send information securely and confidentially to Parex, you should use more secure and reliable forms of communications such as regular mail or registered mail or courier.

Parex makes reasonable efforts to eliminate viruses and other malicious or destructive computer code or software, and to maintain adequate security, but Parex gives no condition or warranty that the Website will be free of such materials, or free from the results of hacking, cracking, or other malicious activities.

You access, view, download, and use the Content solely at your own risk and you warrant and represent that you have taken reasonable precautions by way of, without limitation, purchase and use of the latest anti-virus, anti-spyware, firewall, and other technological means to avoid any loss or damage to you from viruses or other such malicious code or content.

Hypertext Links and Third Party Websites

Hypertext links contained in the Website and linking to third party websites are provided to you as a convenience only. Such links are accepted by you “as is”, “where is”, and “as available”. Your use of such links will take you to websites that are controlled by third parties and not by Parex, and that are subject to change at any time. Parex accepts no obligation to monitor such links, or to change or remove them should the content of any such third party linked website be unavailable or objectionable or out of date, or any liability should it not do so in a timely fashion or at all. You therefore access such third party websites solely at your own risk and agree that in no event shall Parex be liable for the contents of any such website, or for any reliance by you upon such website or use of its contents.

Entire Terms and Conditions

The terms and conditions set out in these Terms of Use constitute the entire terms and conditions with respect to the use of the Website and the Content and the relationship between the parties for the purposes of the same.  No representative of Parex is authorized to amend these Terms of Use other than as specifically provided for herein.

Severability

If any provision of these Terms of Use is held to be invalid or unenforceable, such provision shall be severed from these Terms of Use and the remaining provisions shall remain in full force and effect.

 

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