Rentals

Annual rental payments are due and payable during the Primary Term of the lease and in each year the lease is continued beyond the Primary Term.

Taxes

Taxes payable by the Lessee include Freehold Mineral Taxes (Alberta) and Mineral Acreage Taxes (Saskatchewan). To maintain good standing and avoid enforcement action, the Lessee must reimburse Heritage for the percentage share of taxes specified in the lease.

Heritage’s current lease form requires that 100 percent of taxes are to be paid by the Lessee.