Orbit Garant 2012 annual rep O rt 35 I NDEPENDENT AUDITOR ’ S REPORT To the shareholders of Orbit Garant Drilling Inc. We have audited the accompanying consolidated fnancial statements of Orbit Garant Drilling Inc., which comprise the consoli dated balance sheets as at June 30, 2012, June 30, 2011 and July 1, 2010, and the consolidated statements of earnings and comprehensive earni ngs, consolidated statements of changes in equity and consolidated statements of cash fows for the years ended June 30, 2012 and June 30, 2011, and a summary of signifcant accounting policies and other explanatory information. Management’s responsibility for the consolidated financial statements Management is responsible for the preparation and fair presentation of these consolidated fnancial statements in accordance wi th International Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated fnancial statements that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these consolidated fnancial statements based on our audits. We conduc ted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requi rements and plan and perform the audit to obtain reasonable assurance about whether the consolidated fnancial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated fnancial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material miss tatement of the consolidated fnancial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated fnancial statements in order to desi gn audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity ’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounti ng estimates made by management, as well as evaluating the overall presentation of the consolidated fnancial statements. We believe that the audit evidence we have obtained in our audits is suffcient and appropriate to provide a basis for our audi t opinion. Opinion In our opinion, the consolidated fnancial statements present fairly, in all material respects, the fnancial position of Orbit G arant Drilling Inc. as at June 30, 2012, June 30, 2011 and July 1, 2010, and its fnancial performance and its cash fows for the years ended June 30 , 2012 and June 30, 2011 in accordance with International Financial Reporting Standards. September 19, 2012 1 CPA auditor, CA, public accountancy permit No. A104311 1