Privacy Policy

Our Commitment to Privacy and Collection at Veraz Petroleum Ltd.
This Personal Information Protection Commitment applies in respect of all activities of Veraz Petroleum Ltd. (“Veraz”) that are governed by the Personal Information Protection and Electronic Documents Act (Canada) and applicable provincial privacy legislation, including the Personal Information Privacy Act (Alberta).

Veraz is committed to protecting the privacy of the personal information that is collected, used and disclosed for the purpose of conducting our business. We have prepared this Privacy Protection Commitment to inform you of our practices concerning the collection, use and disclosure of your personal information and to reflect federal and provincial privacy legislation in effect as of December 1, 2007.

Veraz collects, uses and discloses personal information from or about individuals impacted by our business activities or from individuals who request information about our company. This includes people who live on or near, or who have access to or use lands where Veraz operates. It also includes our investors, potential investors, media and those third parties participating in Veraz events or providing services to Veraz.

Collection
In the course of conducting our business Veraz may collect information from or about you that includes, but is not limited to:

-        Information to contact or identify you such as your name, address, telephone number, age and date of           birth
-        Property information such as title, ownership, road use and access information, to allow us to conduct          exploration, development and operations activities
-        Financial information such as bank accounts, current and estimated payment terms and amounts, to          facilitate payment and meet contractual obligations
-        Environment, health and safety information to allow us to communicate effectively with you in an          emergency situation, such as health information and dependent information
-        Information for license and permit applications that is required in order to participate in regulatory          processes or as otherwise required by law

Use
Veraz collects, uses and discloses personal information to allow us to conduct our business activities. These business activities include, but are not limited to:

-        managing and administering contracts (including leases)
-        drilling and completions activities
-        conducting geophysical operations
-        reclamation activities
-        acquisition and divestiture activities
-        complying with legal and regulatory requirements, including health, safety and environmental rules and          regulations
-        constructing roads, wellsites, pipelines and facilities

Veraz also collects, uses and discloses personal information to communicate with you, to facilitate participation in Veraz events and to enable us to provide information about Veraz to you.

Disclosure
Like many companies, Veraz uses third party service providers in our business. We share personal information with these third parties when they require the information to work with us. We require these third parties to act in a manner consistent with our Privacy Policy and this Commitment. These third parties may include, but are not limited to:

-        seismic contractors
-        land brokers, land agents and surveyors
-        road, well or pipeline construction and associated maintenance contractors
-        environment, health and safety consultants, management consultants, health coverage and service          providers
-        geophysical, engineering, environmental, or other consultants
-        regulatory authorities

Your personal information may be transferred to another company in the event of a business transaction. This will occur only if we have entered into an agreement with the acquiring party under which your personal information is protected.

Consent
Under privacy legislation, Veraz is required in certain areas to obtain your consent to collect, use and disclose your personal information. If you choose not to provide your consent, you may refuse to provide us with your personal information. Alternatively, you may withdraw your consent to our collection, use and disclosure of your personal information on reasonable notice, subject to applicable legal, contractual or regulatory requirements. Should you choose to exercise this right, please contact our Privacy Officer to facilitate your withdrawal.

There are circumstances where the collection, use or disclosure of personal information by Veraz may occur without your consent, where permitted or required by law.

If you do not contact us we will assume you have consented to our collection, use and disclosure of your personal information for the purposes as set out in this Privacy Protection Commitment.

Security
Veraz is committed to safeguarding your personal information while it is in our control. We endeavor to maintain physical, procedural and technical security with respect to our offices and information storage facilities to prevent loss, misuse, unauthorized access, disclosure, or modification of your personal information.

Access
Veraz will provide you with access to your personal information held by us, subject to exceptions as permitted or required by law.

Contact Us
If you have questions or concerns with respect to the information provided in this Privacy Protection Commitment please contact the Privacy Officer at privacy@verazpetroleum.com.

If you have further questions or if you wish to refuse or withdraw your consent to our collection, use and disclosure of your personal information, you may contact us at 1-403-PHONE NUMBER.

In this document, “Veraz”, “we”, “our” and “us” refer Veraz Petroleum Ltd.