Lightstream Resources Ltd. LSTMF

The $535M impairment charge.

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Impairment is recognized when the carrying value of an asset or group of assets exceeds its estimated recoverable amount, defined as the higher of its value in use or fair value less cost to sell. Any asset impairment that is recorded is recoverable in the future to its original value, less any associated depletion or depreciation expense relating to the asset, should there be indicators that the recoverable amount of the asset has increased in value since the time of recording the initial impairment. The $535 million impairment charge recorded in the third quarter of 2015 is a result of lower future commodity prices, as estimated by our external reserve evaluators, associated with property, plant and equipment assets located