Strategic Focus & R&D Initiatives

R&D/E&T Funding Requirement Key requirements: • Eligible spending: C-NLOPB R&D Guidelines = Gross Revenue X Five Year Average % R&D per Statistics Canada Less Development Credit · - R&D/E&T activity carried out in the Province of Newfoundland and Labrador Increased R&D, education and/or training capacity in the Province Pre-approval of R&D projects is required from C-NLOPB • Production phase requirement is spread over each Production Operations Authorization (POA) period during production life petroleum RESEARCH newfoundland & labrador

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