content_image/203193.jpg content_image/203194.jpg content_image/203195.jpg
<img src='content_image/203193.jpg'>

## b. Joint Ventures 

The Company is related to its joint ventures. The accompanying table summarizes joint venture transactions and period balances with AKITA. 

<img src='content_image/203194.jpg'>

## c. Legal fees 

The Company incurred legal fees of $83,000 (2012 - $62,000) during the year for services related to various legal matters with a law firm of which a director of the Company was a partner at December 31, 2013. At December 31, 2013, $1,000 (December 31, 2012 - $8,000) of this amount was included in accounts payable. 

## d. Key management compensation 

Key management includes the officers and directors of the Company. The compensation paid or payable to key management for services in the capacity as either officers or directors is shown below: 

<img src='content_image/203195.jpg'>

## 21. Commitments and Contingencies 

From time to time, the Company enters into drilling contracts with its customers that are for extended periods. 

At December 31, 2013, the Company had seven rigs, including five joint venture rigs, with multi-year contracts. 

Of these contracts, five are anticipated to expire in 2014, one in 2016 and one in 2018. 

