OAN Resources Ltd.
- Proceeding
- BankruptcySection 50.4(9) of the Bankruptcy and Insolvency Act
- File
- 25-2523592
- Industry
- Energy · Oil & gas production
OAN Resources Ltd. is bankrupt in the Court of King's Bench of Alberta under section 50.4(9) of the Bankruptcy and Insolvency Act, with commencement recorded on June 14, 2019 and again on August 19, 2019. The proceeding remains active. The Statement of Affairs, as at October 16, 2019, shows assets of $1,127,121.46 against liabilities of $6,241,824.19 and a stated deficiency of $5,114,702.73. Unsecured claims total $5,061,703.73; secured claims in List B total $1,180,120.46, with preferred creditors and contingent liabilities both nil. The secured claims are held largely by individuals and trusts taking security over a working interest in oil and gas property, the largest being John D. Wright at $911,500.00. The largest unsecured claims are Savanna Drilling Corp. at $233,331.96 and Patmore Oilfield Services Ltd. at $217,543.99.
Application filed in the Alberta court under section 50.4(9) of the Bankruptcy and Insolvency Act, recorded as a commencement date for the proceeding.
Source: Application for Second Extension of Stay – filed August 19, 2019
Application re: Extension of Stay – filed June 28, 2019 — Application / notice of application
Debtor
OAN Resources Ltd.
Trustee in bankruptcy
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Jeffrey | Court of King's Bench of Alberta | 1 order, Aug 2019 | 51 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Trustee in bankruptcyBDO | Bennett Jones LLP | 28 Jun 2019 | Application · 28 Jun 2019 |
| DebtorOAN Resources Ltd. | Bennett Jones LLP | 21 Jun 2019 | Order · 21 Jun 2019 |
| CreditorCWC Energy Services Corp and TAM International Oil Services Ltd | Burnet Duckworth & Palmer LLP | 28 Jun 2019 | Application · 28 Jun 2019 |
| CreditorHardy & Kelly Inc | Bennett Jones LLP | 21 Jun 2019 | Order · 21 Jun 2019 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | John D. WrightOther - Working Interest in Oil and Gas property; Debts Due - Business Production revenue receivable; Cash on hand - Proposal Trustee; Cash in bank RBC #1283977; Other - Equipment; Other - Inventory (Prepaid chemicals) — Estimated surplus from security shown but balance of claim column left blank on page 7; individual, possibly related party (surname matches Sol P. Wright, also secured) — debtor: OAN Resources Ltd. · as of 16 Oct 2019 | $912K | Statement of Affairs – signed |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
131 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansApproval pending — Details of the offer received to acquire all of OAN's petroleum and natural gas assets and the Trustee's recommendation thereonFirst Report of the Trustee (unfiled) · 16 Mar 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Crimson Energy Ltd.all of the interest of the Vendor in and to the Assets · asset sale | Subscribers | Proposed | First Report of the Trustee (unfiled) |
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Application re: Sale Approval and Vesting Order (unfiled) | PDF · Subscribers | |
First Report of the Trustee (unfiled)
| PDF · Subscribers | |
| Mailer | PDF · Subscribers | |
Statement of Affairs – signed
| PDF · Subscribers | |
| Creditor Package | PDF · Subscribers | |
| Certificate of Assignment | PDF · Subscribers | |
Sale Solicitation Process
| PDF · Subscribers | |
Order re: Extension of Time to File Proposal
| PDF · Subscribers | |
| Brief of OAN Resources Ltd. re: Application for Second Extension – filed August 21, 2019 | PDF · Subscribers | |
| Second Report of Proposal Trustee | PDF · Subscribers | |
| Affidavit of David Fricker – filed August 19, 2019 | PDF · Subscribers | |
Application for Second Extension of Stay – filed August 19, 2019
| PDF · Subscribers | |
Order re: Extension of Time to File Proposal and Critical Suppliers – July 8 2019
| PDF · Subscribers | |
| Bench Brief of the Applicant re: Application for Extension of Stay – filed July 2, 2019 | PDF · Subscribers | |
First Report of Proposal Trustee
| PDF · Subscribers | |
| Affidavit of David Fricker – filed June 28, 2019 | PDF · Subscribers | |
Application re: Extension of Stay – filed June 28, 2019
| PDF · Subscribers | |
Consent Order re: Builders' Lien
| PDF · Subscribers | |
| Initial Notification to Creditors | 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., “OAN Resources Ltd.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/oan-resources-ltd