Abbey Resources Corporation

Abbey Resources Corporation was placed in court-appointed receivership on February 25, 2022 under BIA s. 243, on the application of the Saskatchewan Minister of Energy and Resources, Indian Oil & Gas Corporation and the Rural Municipalities of Lacadena and Snipe Lake, in the Court of King's Bench for Saskatchewan under file Q.B. No. 733 of 2021. The Receiver's statement puts entity-level assets at $30,006,500, of which $25,162,000 is production properties comprising approximately 2,600 shallow gas wellbores in the Abbey area of southwest Saskatchewan, alongside $3,760,300 of production equipment and facilities and $488,000 of cash. Secured claims are stated as an approximation of $34,587,800, the largest being $28,412,300 owed to the Minister of Energy and Resources on shallow gas wellbore obligations, followed by claims of several rural municipalities and $286,300 owed to Carry the Kettle First Nation. The proceeding is closed.