/R E P E A T -- Leverage the Potential of XBRL for Information Reporting, Exchange and Analysis/

TORONTO, March 21, 2012 /CNW/ - April 17th Luncheon in Calgary hosted by the Petroleum Accountants Society of Canada

Date:			April 17, 2012
Location:			Fairmont Palliser Hotel, 133 9th Avenue SW Calgary - Leduc Room
Time:			11:30 a.m. to 1:00 p.m.

Secure online registration is available here https://securegs.com/registerEvents.php?eID=2915

Extensible Business Reporting Language (XBRL) is an emerging technology standard for the reporting, exchange and analysis of financial and business information. With a number of regulators and agencies around the world adopting XBRL as either a mandatory or voluntary filing option, thousands of organizations are now tagging and using business information in the XBRL format.

So what does that mean to you?

Think seamless reporting, exchange, and analysis of information from a single source of truth that bridges internal and external processes. Information becomes discrete, structured and can be integrated across platforms, systems, departments and potentially the industry.

XBRL is coming to Canada and the oil and gas industry - Are you ready?

XBRL taxonomies have been developed for financial reporting according to IFRS (International Financial Reporting Standards) and many local reporting standards such as U.S. GAAP. In the U.S. the use of XBRL has been mandated for financial filings with the SEC and soon foreign filers (including many Calgary-based companies) will have to comply.

But XBRL also has a role beyond financial reporting. Think about all the possibilities. A&D, production, joint venture, and auditing information can be pulled from a variety of internal and external sources and presented in a uniform, clear and concise manner.

In this presentation you will learn how XBRL has the potential to deliver major benefits to the oil and gas industry. As already proven in applications around the globe, XBRL enables cost savings, greater efficiency, improved accuracy and reliability to all those involved in supplying or using business information.

About the Presenter:
Geoff Zakaib, Partner - Lumina Management Consultants and Chairman - XBRL Canada

Geoff Zakaib, P.Eng., MBA has over 30 years of experience in the Oil & Gas Industry in a wide variety of operational and management roles. With a background in both business and technology he has taken a leadership role in a number of industry initiatives in the area of data management and information technology. Geoff has been involved with XBRL for over 10 years and currently serves as the Chairman of XBRL Canada.

PASC/CAPL/CAPLA/CAPPA/PJVA Members: $40 + GST
Non-PASC Members : $50 + GST

Image with caption: "The Canadian Oil & Gas industry can benefit several ways using XBRL in business reporting supply chains as illustrated. (CNW Group/XBRL Canada)". Image available at: http://photos.newswire.ca/images/download/20120402_C6543_PHOTO_EN_11395.jpg

Geoff Zakaib, [phone], Email: [email protected]