Alberta · CCAA
Third Report of the Proposal Trustee
Court officer report · 28 September 2023
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Ending cash per budget-to-actual table: $26 (C$ 000s) · as at: 2023-09-23 · amount: 26000 · currency: CAD · qualifier: approximately
- operational summaryThe Company continues operating its P&NG assets in Central Alberta (Golden Spike area) without material disruption, producing about 490 boe/d, while a court-approved sale and investment solicitation process (SISP) proceeds under the NOI stay.
- professional feesnote: Actual $70K vs forecast $125K; some amounts accrued but unpaid. Forecast professional fees of $350K for Sept 24 to Nov 25, 2023. Separately, third-party Consultant was paid a $50,000 retainer. · party: Professional fees (actual disbursements; party not specified) · amount: 70000 · period: 5 weeks ended September 23, 2023 · currency: CAD
- report date28 September 2023
- report noThird Report
- sale outcometext: The SISP process is ongoing; the September milestones were met and Phase 1 Bid Deadline is upcoming, with results to be reported later. · scope: whole_business · status: process_approved
- stalking horsestate: stated