Trans Canada Gold : Oil and gas annual disclosure filing (Form 51-101 F1)

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Form 51-101 F1

Arctic Hunter Energy Inc.

Statement of Reserves Data

And Other Oil and Gas Information

As of June 30, 2020

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	Table of Contents
		Page
Glossary of Terms	3
Form 51-101 F1, Part 1 Date of Statement	4
Part 2 Disclosure of Reserves Data	5
Part 3	Pricing Assumptions	6
Part 4	Reconciliations of Changes in Reserves	7
Part 5	Additional Information Relating to Reserves Data	8
Part 6	Other Oil and Gas Information	9

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Glossary of Terms
Reserves	Estimated reserves of natural gas, natural gas liquids and crude oil.
Working interest	Those lands in which the Company receives its acreage share of
	net production revenues.
Gross reserves	Estimated reserves before royalties based on working interest.
Net reserves	Estimated reserves after royalties based on working interest.
Future net revenue	Working interest revenues after royalties, development costs,
	production costs and well abandonment costs, but before
	administrative, overhead and other such indirect costs. Future net
	revenue may be presented either before or after tax.
Proved reserves	Reserves that can be estimated with a high degree of certainty to be
	recoverable. It is likely that the actual remaining quantities
	recovered will exceed the estimated proved reserves.
Probable reserves	Reserves that are less certain than proved reserves at being
	recovered. It is equally likely that the actual remaining quantities
	recovered will be greater or less than the sum of the estimated
	proved plus probable reserves.
Developed reserves	Reserves that are expected to be recovered from existing wells and
	installed facilities or, if facilities have not been installed, that
	would involve a low expenditure (e.g. when compared to the cost
	of drilling a well) to put the reserves on production.
Producing reserves	Reserves that are expected to be recovered from completion
	intervals open at the time of estimate. The category of reserve may
	be currently producing or, if shut-in, they must have previously
	been on production, and the date of resumption of production must
	be known with reasonably certainty.
Non-producing reserves	Reserves that either have not been on production, or have
	previously been on production, but is shut-in, and the date of
	resumption of production is unknown.
Stb/stock tank barrel	A 42-US gallon barrel of crude oil at standard conditions of 1
	atmosphere and 60 oF.
M	Thousand (1,000).
MM	Million (1,000,000)
Mbbl	1,000 barrels of oil and/or natural gas liquids.
MMBtu	A unit of heat energy equal to one million British thermal units.
Mcf	1,000 cubic feet of natural gas.
Bcf	One billion (1,000,000,000) cubic feet of natural gas
bbl or barrel	A 42-US gallon barrel of crude oil or natural gas liquids.
Undeveloped reserves	Reserves that are expected to be recovered from known
	accumulations where a significant expenditure is required to render
	them capable of production (e.g. in comparison to the costs of
	drilling a well). Such reserves must fully meet the requirements of
	the reserves classification to which they are assigned (proved or
	probable).

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Form 51-101 F1

Statement of Reserves Data and Other Oil and Gas Information for Arctic Hunter Energy Inc.

Part 1		Date of Statement
Item 1.1	Relevant Dates
1.	Date of Statement:	October 1, 2020
2.	Effective Date:	June 30, 2020
3.	Preparation Date:	October 2, 2020

Petrotech Engineering Ltd. ("Petrotech"), independent qualified evaluators of Burnaby, British Columbia estimated the reserves effective June 30, 2020. The Company used the reserves in the preparation of the Financial Statements for the fiscal year ended June 30, 2020.

All of the Company's oil and gas reserves are located onshore in the country of Canada.

The reserves on the properties described herein are estimates only. Actual reserves on the properties may be greater or less than those calculated.

In certain instances, numbers may not total due to computer-generated rounding. In such cases, differences are not material and amounts presented are as shown in the Petrotech Report.

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Part 2

Disclosure of Reserves Data

Item 2.1 Reserves Data (Forecast Prices and Costs)

Item 2.1.1 Breakdown of Reserves

Onshore Canada:

	Heavy Crude Oil	L&M Crude Oil	Conventional Natural Gas	Oil Equivalent
	100%	Gross	Net	100%	Gross	Net	100%	Gross	Net	100%	Gross	Net
Reserves Category	(Mbbl)	(Mbbl)	(Mbbl)	(Mbbl)	(Mbbl)	(Mbbl)	(MMcf)	(MMcf)	(MMcf)	(Mboe)	(Mboe)	(Mboe)
Proved Producing	-	-	-	-	-	-	-	-	-	-	-	-
Proved Non-Prod.	11.3	6.8	6.8	-	-	-	-	-	-	11.3	6.8	6.8
Proved Undeveloped	-	-	-	-	-	-	-	-	-	-	-	-
Total Proved	11.3	6.8	6.8	-	-	-	-	-	-	11.3	6.8	6.8
Total Probable	2.5	1.5	1.5	-	-	-	-	-	-	2.5	1.5	1.5
Proved + Probable	13.8	8.3	8.3	-	-	-	-	-	-	13.8	8.3	8.3

Item 2.1.2 Net Present Value of Future Net Revenue

Onshore Canada:

		Before and After Tax NPV @
	0%	5%	10%	15%	20%
Reserves Category	(M$)	(M$)	(M$)	(M$)	(M$)
Proved Producing	0.0	0.0	0.0	0.0	0.0
Proved Non-Prod.	55.6	52.2	48.8	45.5	42.4
Proved Undeveloped	0.0	0.0	0.0	0.0	0.0
Total Proved	55.6	52.2	48.8	45.5	42.4
Total Probable	19.2	16.4	14.0	12.0	10.4
Proved + Probable	74.8	68.6	62.8	57.5	52.8

Item 2.1.3 (a) (b) Additional Information Concerning Future Net Revenue

					Abandonment	Future Net	Future	Future Net
Reserves	Revenue	Royalties	Operating	Development	&	Revenue	Income	Revenue
Costs	Costs	Reclamation	Before	Tax	After Income
Category
				Costs	Income Tax	Expenses	Tax
	(M$)	(M$)	(M$)	(M$)	(M$)	(M$)	(M$)	(M$)
Total Proved	257.1	12.1	172.7	0.0	16.7	55.6	0.0	55.6
Total Proved +
Probable	317.7	15.0	210.9	0.0	17.0	74.8	0.0	74.8