Broadview Energy Ltd. (BVE) is a private oil and gas company holding a 2% Gross Overriding Royalty (GOR) on developed and undeveloped Saskatchewan thermal heavy oil assets operated by Cardinal Energy. Currently BVE has 74.7 million shares outstanding and minimal overhead. The plan is to distribute all GOR revenue quarterly to shareholders which, for the foreseeable future, will be treated as a return of capital rather than a taxable dividend. In addition, BVE does not expect to be taxable for 3 to 5 years due to corporate tax pools that are available to offset GOR revenue. For an update on Saskatchewan thermal operations and future development plans affecting our royalty, please visit the Cardinal Energy website. The majority of the lands depicted on their Saskatchewan thermal/heavy oil maps have the GOR obligation to Broadview.