Net Debt to Equity 2006-7

All Financial Data in US Dollars.
Corporate Financials
 Key Financials
  Key Ratios (%)
     Net Debt to Equity (Inc Operating Lease) Data Growth
  2006 2007 2007
       Advantage Energy Ltd. 50.3% 56.0%   +11.3%  
       Africa Oil Corp - -73.5%   -  
       Akita Drilling Ltd -28.9% -23.0%   -20.5%  
       AltaGas Ltd. 44.6% 31.5%   -29.4%  
       Antrim Energy Inc. -38.6% -38.4%   -0.5%  
       ARC Resources Ltd. 36.2% 35.4%   -2.3%  
       Aroway Energy Inc. -57.1% -1.5%   -97.4%  
       Athabasca Oil Corporation - -27.9%   -  
       Badger Infrastructure Solutions Ltd. 13.4% 42.4%   +216.7%  
       Bankers Petroleum Ltd 0.4% 19.5%   n/m  
       Bayshore Petroleum Corp. -102.0% -9.9%   -90.3%  
       Baytex Energy Corp. 77.6% 71.8%   -7.4%  
       Bellatrix Exploration Ltd. 47.4% 53.6%   +12.9%  
       Bengal Energy Ltd. -36.6% -49.2%   +34.4%  
       Birchcliff Energy Ltd. 33.0% 74.7%   +126.6%  
       Blackhawk Resource Corp. - -86.5%   -  
       Bonavista Energy Corporation 49.9% 71.8%   +44.0%  
       Bonterra Energy Corp. 84.2% 120.8%   +43.5%  
       Border Petroleum Limited -3.3% -25.6%   +673.4%  
       Calfrac Well Services 17.9% 25.8%   +43.7%  
       Canacol Energy Ltd. -53.0% -8.3%   -84.3%  
       Canada Energy Partners Inc. - -5.7%   -  
       Canadian Natural Resources Limited 103.1% 82.0%   -20.5%  
       Canadian Overseas Petroleum Limited -56.8% 5.3%   n/a  
       Canadian Spirit Resources Inc. -9.3% -2.8%   -69.5%  
       Capitan Investment Ltd. -12.6% 74.4%   n/a  
       Cathedral Energy Services 27.2% 28.3%   +4.1%  
       Centaurus Energy Inc. -75.4% -61.7%   -18.2%  
       Cequence Energy Ltd. - 45.5%   -  
       Cerus Energy Group Ltd. -1.3% -26.2%   n/m  
       CES Energy Solutions Corp. -5.7% 12.7%   n/a  
       CGX Energy Inc. -33.7% -87.5%   +159.4%  
       Chinook Energy Inc. - -47.5%   -  
       Cirrus Energy Corporation -75.2% -140.3%   +86.6%  
       Cobra Venture Corporation -40.5% -65.9%   +62.6%  
       Connacher Oil and Gas Limited 22.5% 56.7%   +151.4%  
       Cordy Oilfield Services Inc. 4.6% 15.4%   +237.7%  
       Crescent Point Energy Corp 28.0% 42.0%   +49.7%  
       Crew Energy Inc. 16.8% 26.2%   +55.7%  
       Crown Point Energy Inc. -0.5% -32.9%   n/m  
       CWC Energy Services Corp. 142.7% 33.2%   -76.8%  
       Cypress Hills Resource Corp. -30.4% -20.1%   -33.8%  
       Distinction Energy Corp. 72.1% 51.1%   -29.1%  
       District Mines Ltd. -987.9% -100.9%   -89.8%  
       DXI Energy Inc. -23.3% -21.0%   -9.6%  
       EMM Energy Inc. 28.3% 47.7%   +68.3%  
       Enbridge Inc. 215.6% 194.9%   -9.6%  
       Enerflex Systems Income Fund 29.8% 24.8%   -16.9%  
       Enerplus Corporation 24.9% 27.5%   +10.4%  
       Ensign Energy Services Inc. 5.0% 9.3%   +86.4%  
       Enterprise Group, Inc. 30.5% 44.7%   +46.6%  
       Essential Energy Services 45.2% 62.6%   +38.3%  
       Falcon Oil & Gas Ltd. -54.9% -19.4%   -64.6%  
       Foremost Income Fund 22.9% 11.1%   -51.5%  
       Freehold Royalties Ltd. 28.9% 70.7%   +144.7%  
       Frontera Energy Corporation - -20.7%   -  
       Gran Tierra Energy Inc. -34.6% -23.7%   -31.6%  
       Guardian Exploration Inc. 78.2% -76.5%   n/a  
       Harvest Operations Corp. 92.8% 87.4%   -5.8%  
       Headwater Exploration Inc. -34.6% -4.2%   -87.7%  
       Hemisphere Energy Corporation -30.6% -6.3%   -79.5%  
       High Arctic Energy Services Inc. 10.8% 287.7%   n/m  
       Hunter Oil Corp. 6.8% -23.7%   n/a  
       Angel Wing Metals Inc. 162.5% -444.7%   n/a  
       Husky Energy Inc. 12.2% 22.4%   +84.1%  
       Hyduke Energy Services Inc. 24.8% 12.4%   -49.9%  
       Ikkuma Resources Corp. -39.7% -8.1%   -79.7%  
       Imperial Oil Limited -9.7% -13.4%   +37.7%  
       Inter Pipeline Ltd. 55.9% 178.6%   +219.4%  
       International Frontier Resources Corporation -50.8% -61.8%   +21.7%  
       Ironhorse Oil & Gas Inc. 16.4% 45.4%   +176.9%  
       Ithaca Energy Inc. -48.4% -47.3%   -2.3%  
       Junex Inc. -27.9% -30.9%   +10.7%  
       Keyera Corp. 56.1% 61.6%   +9.8%  
       Knol Resources Corp. 23.6% -22.2%   n/a  
       Laricina Energy Ltd. -44.9% -55.1%   +22.9%  
       Magnolia Colombia Ltd. -447.5% 5.9%   n/a  
       Marksmen Energy Inc. 21.8% 53.3%   +144.9%  
       McChip Resources Inc. -26.1% -4.7%   -81.9%  
       McCoy Global Inc. 46.6% 9.1%   -80.5%  
       Mount Dakota Energy Corp. -227.6% -203.7%   -10.5%  
       Mullen Group Ltd. 20.9% 28.6%   +36.7%  
       Nexen Inc. 98.8% 75.8%   -23.3%  
       Nexera Energy Inc. 34.7% 73.1%   +110.3%  
       Niko Resources Ltd. -6.3% -34.9%   +450.2%  
       North American Construction Group Ltd. 103.5% 63.6%   -38.6%  
       NuVista Energy Ltd. 51.4% 47.8%   -7.0%  
       Obsidian Energy Ltd. 24.8% 42.5%   +71.7%  
       Oracle Energy Corp. -58.9% -14.8%   -74.8%  
       Painted Pony Energy Ltd. - -79.4%   -  
       Pan Orient Energy Corp. -26.4% -35.5%   +34.1%  
       Pantera Drilling Income Trust 72.2% 86.5%   +19.7%  
       Paramount Resources Ltd. 87.0% -4.8%   n/a  
       Pason Systems Inc. -9.5% -8.6%   -9.5%  
       Pembina Pipeline Corporation 73.7% 89.1%   +20.9%  
       Pengrowth Energy Corporation 22.7% 55.0%   +142.7%  
       Pennine Petroleum Corporation -120.5% 0.2%   n/a  
       Perpetual Energy Inc. 190.4% 170.8%   -10.3%  
       Petrichor Energy Inc. 11.0% 12.4%   +12.2%  
       Petro Vista Energy Corp. - -92.1%   -  
       Petro-Canada 22.9% 27.1%   +18.2%  
       Petrolifera Petroleum Ltd. -65.3% 13.8%   n/a  
       Petrolympic Ltd. - -65.0%   -  
       Peyto Exploration & Development Corp. 83.6% 77.4%   -7.4%  
       PHX Energy Services Corp. 2.0% 2.7%   +29.9%  
       Pine Cliff Energy Ltd. -68.8% -69.3%   +0.8%  
       Precision Drilling Corporation 14.6% 10.2%   -30.3%  
       Pulse Seismic Inc. 49.7% 31.6%   -36.4%  
       Questerre Energy Corporation -44.9% -19.4%   -56.7%  
       Questor Technology Inc. 20.2% -51.5%   n/a  
       Raise Production Inc. 16.0% 23.5%   +47.0%  
       Relentless Resources Ltd 9.6% 56.6%   +489.7%  
       Repsol Oil & Gas Canada Inc. 61.5% 54.5%   -11.4%  
       Ripper Oil and Gas Inc 16.4% 31.9%   +94.2%  
       Russel Metals Inc. -0.7% -0.7%   +1.2%  
       ShaMaran Petroleum Corp. -101.2% -59.5%   -41.2%  
       ShawCor Ltd. -34.6% -17.6%   -49.0%  
       Shell Canada Limited 16.0% -   -  
       Sherritt International Corp -18.3% -12.4%   -32.5%  
       Sienna Resources Inc. -15.1% -47.9%   +216.5%  
       Softrock Minerals Ltd. 2.6% -5.7%   n/a  
       Sonde Resources Corp. 0.3% 2.3%   +552.4%  
       Sonoro Energy Ltd. - -13.0%   -  
       Spartan Delta Corp. -48.3% -22.4%   -53.7%  
       Stoneham Drilling Trust 14.6% 76.4%   +423.5%  
       Strategic Oil & Gas Ltd. -32.8% 18.7%   n/a  
       Strikewell Energy Corp. -143.2% -120.2%   -16.1%  
       Suncor Energy Inc. 20.7% 27.3%   +32.2%  
       Supernova Metals Corp. -20.7% -10.7%   -48.3%  
       Surge Energy Inc. 79.8% 78.3%   -1.9%  
       Suroco Energy Inc. -94.5% -43.9%   -53.5%  
       TAG Oil Ltd. -69.4% -33.5%   -51.8%  
       Tamarack Valley Energy Ltd. -8.8% 3.0%   n/a  
       TC Energy Corporation 166.8% 150.5%   -9.8%  
       Teck Resources Limited -57.6% 1.5%   n/a  
       Tenth Avenue Petroleum Corp. -106.1% -34.8%   -67.2%  
       Total Energy Services Inc. 18.7% 43.2%   +130.6%  
       TransGlobe Energy Corporation - 35.7%   -  
       Traverse Energy Ltd. -42.6% -42.3%   -0.6%  
       Trican Well Service Ltd. -16.9% 26.5%   n/a  
       Vermilion Energy Inc. 61.7% 64.5%   +4.5%  
       Wavefront Technology Solutions Inc. -84.4% -33.7%   -60.1%  
       Westbridge Energy Corporation -3.3% 17.7%   n/a  
       Western Energy Services Corp 89.0% 146.2%   +64.2%  
       XXL Energy Corp. -23.4% 4.0%   n/a  
       Yangarra Resources Ltd. 65.1% 50.1%   -23.0%  
       Zargon Oil & Gas Ltd. 18.1% 35.2%   +94.1%  
       ZCL Composites Inc. -24.2% 10.5%   n/a  
Value of: 4,965% treated as not meaningful
Value of: 1,875% treated as not meaningful
Value of: 6,359% treated as not meaningful
Value of: 2,566% treated as not meaningful