Palliser Oil & Gas

Palliser Oil & Gas Corporation was placed into court-appointed receivership on February 12, 2015 under BIA s. 243 and provincial Judicature Act authority, in the Alberta court under file no. 1501-01523. National Bank of Canada held security over all of the Debtor's property for $41,991,183 as recorded in the Receiver's Notice and Statement dated February 19, 2015, and was separately listed as an unsecured creditor for $174,870. The Debtor's own financial statements as at September 30, 2014 carried property, plant and equipment at $67,325,000, exploration and evaluation assets at $4,929,000, accounts receivable at $3,961,000 and deposits and prepaid expenses at $325,000 (figures in thousands of Canadian dollars, unaudited by the Receiver). The largest unsecured claim listed was Saskatchewan Industry & Resources at $2,361,957.54. The proceeding is closed.