Halo Exploration Ltd.
Follow- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 2601-01970
- Industry
- Energy · Oil & gas production
Halo Exploration Ltd. is in court-appointed receivership in Alberta under BIA s. 243, commenced February 10, 2026, on the application of Invico Lending Strategies LP, which holds a first-position fixed and floating charge over Halo's present and after-acquired real and personal property under an October 11, 2022 loan agreement and debenture. Invico delivered a s. 244 notice of intention to enforce security on November 17, 2025 and a notice of default on January 28, 2026, following multiple forbearance agreements and waivers. Indebtedness to Invico was $13.5 million as of January 30, 2026; Northbase Finance Inc. was owed $5.3 million as of February 6, 2026 under three lease agreements over surface infrastructure at Halo's 3-22 battery. As at the appointment date the Receiver reports approximately $18.8 million of secured debt and $19.9 million of unsecured debt.
Order for Approval of Distributions, Activities, Restricted Court Access, and Related Relief — Distribution order
Application (Approval of KERP, Activities, Restricted Cour Access) — Application / notice of application
The court approved a sale and investment solicitation process. A phase 1 deadline of 2026-03-27. A bid deadline of 2026-05-01.
Source: Order for Approval of Sale and Investment Solicitation Process (SISP)
The court approved a sale and investment solicitation process. A phase 1 deadline of 2026-03-27. A bid deadline of 2026-05-01.
Source: Order for Approval of Sale and Investment Solicitation Process (SISP)
Outcome brief
Halo Exploration: the creditor trust that reaches one creditor
A reverse vesting order preserved $142 million of tax pools, spared everyone an application to the Alberta Energy Regulator, and left the wells with a solvent owner. Seven months after the receiver was appointed, it asks the court to pay its senior lender a final $885,000 — leaving that lender about $300,000 short — and reports that nothing at all reaches the $19.9 million of unsecured debt.
Debtor
Halo Exploration Ltd.
Applicant
Invico Lending Strategies LP
Receiver
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Feasby | Court of King's Bench of Alberta | 5 orders, Feb 2026 – Aug 2026 | 39 cases on record |
| Justice Armstrong | Court of King's Bench of Alberta | 2 orders, Jun 2026 | 30 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverFTI | Burnet Duckworth & Palmer LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| ApplicantInvico Lending Strategies LP | Fasken Martineau DuMoulin LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| DebtorHalo Exploration Ltd. | Burnet Duckworth & Palmer LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| CreditorBidell Gas Compression Ltd | McCarthy Tétrault LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| CreditorFS Royalty Canada Ltd | Stikeman Elliott LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| CreditorHalliburton | Norton Rose Fulbright Canada LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| CreditorNorthbase Finance Inc | Osler, Hoskin & Harcourt LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| CreditorTrican Well Service Ltd | Peak Legal Counsel | 8 Jun 2026 | Service list · 8 Jun 2026 |
| CreditorYellow Jacket Oil Tools, ULC | Lawson Lundell LLP | 8 Jun 2026 | Service list · 8 Jun 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Invico Lending Strategies LP (successor to Invico Diversified Income Limited Partnership)Fixed and Floating Charge Demand Debenture dated October 11, 2022 (registered principal amount $35,000,000, not a balance); Pledge Agreement re Debenture; Environmental Indemnity Agreement; Deposit Account Control Agreement (Halo, ATB Financial, Invico Diversified LP); registered first-position security over all present and after-acquired personal and real property of Halo (Alberta PPR registrations, incl. 250106218991 and 25010624375) — Amount is Indebtedness as stated in the First Forbearance Amendment dated on or about Nov 27, 2025 (para 34(b) of affidavit). Original loan facility (aggregat · as of 27 Nov 2025 | $13M | Affidavit of Adam Jenkins |
| 5 | PMSI / lessors |
1 more claim in 1 class The stack holds Secured and PMSI / lessors claims.
Every creditor and every amount.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansThis proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Unsecured creditors: no distribution. Invico Diversified LP short · Canadian Natural Resources a distribution · Pembina Pipeline Corporation a distribution.Third Report of the Receiver · 14 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Court charges | Receiver's Borrowing Charge | — | per the receiver | Second Report of the Receiver · 8 Jun 2026 | |
| Secured | Outstanding Municipal Taxes | — | per the receiver | Second Report of the Receiver · 8 Jun 2026 | |
| Secured | Invico Diversified LP | estimated | short by final | Estimatedper the receiver | Third Report of the Receiver · 14 Aug 2026 |
| PMSI / lessor | Canadian Natural Resources | — | per the receiver | Second Report of the Receiver · 8 Jun 2026 | |
| PMSI / lessor | Pembina Pipeline Corporation | — | per the receiver | Second Report of the Receiver · 8 Jun 2026 | |
| PMSI / lessor | Whitecap Resources Inc. | — | per the receiver | Second Report of the Receiver · 8 Jun 2026 | |
| Unsecured | — | — | no distribution | per the receiver | Third Report of the Receiver · 14 Aug 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
7 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
| Order for Final Distribution, Approval of the Receiver's Fees and Disbursements, Approval of the Receiver's Activities, and Discharge of the Receiver | Trustee site | |
Order for Final Distribution, Approval of the Receiver's Fees and Disbursements, Approval of the Receiver's Activities, and Discharge of the Receiver
| PDF · Subscribers | |
| Affidavit of Service | PDF · Subscribers | |
| Application for Discharge of Receiver | PDF · Subscribers | |
| Service Letter to Service List re 14 August 2026 Application Materials | PDF · Subscribers | |
Third Report of the Receiver
| PDF · Subscribers | |
| Receiver's Certificate | PDF · Subscribers | |
Approval and Reverse Vesting Order
| PDF · Subscribers | |
Order for Approval of Distributions, Activities, Restricted Court Access, and Related Relief
| PDF · Subscribers | |
| Application for Reverse Vesting Order and Related Relief | PDF · Subscribers | |
Brief of Law
| PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
| Service Letter to Service List re 08 June 2026 Application Materials | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Order re Key Employee Retention Place
| PDF · Subscribers | |
Application (Approval of KERP, Activities, Restricted Cour Access)
| PDF · Subscribers | |
First Report of the Receiver
| PDF · Subscribers | |
| Halo Exploration Ltd. - SISP NDA | PDF · Subscribers | |
Halo Exploration Ltd. - SISP Teaser
| PDF · Subscribers | |
| Notice and Statement of Receiver with Creditor Listing | PDF · Subscribers | |
Order for Approval of Sale and Investment Solicitation Process (SISP)
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
SISP Procedure
| PDF · Subscribers | |
| Affidavit of Nicholas Heffernan | PDF · Subscribers | |
| Supplemental Affidavit of Adam Jenkins | PDF · Subscribers | |
Affidavit of Adam Jenkins
| PDF · Subscribers | |
Application for Receivership Order and Approval of SISP
| PDF · Subscribers | |
Brief of the Applicant for Receivership Order and Approval of SISP
| PDF · Subscribers | |
| Consent to Act as Receiver | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Halo Exploration Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/halo-exploration-ltd