Alberta · CCAA
Affidavit of J. Bednar - Volume 1 - 2025.11.16
Affidavit · 16 November 2025
What we verified from this filing2 verified
- financial positionnote: Total liabilities not stated as a single aggregate figure in the extracted pages. Affidavit (p.16) discloses component current liabilities as at Q3 Interim Financial Statements: current portion of long-term debt $42.172M, trade and other payables $107.607M, deferred income $21.202M, lease obligations $4.563M, taxes payable $7.744M, long-term incentive compensation liabilities $2.056M, other long-term obligations $1.337M; and non-current liabilities: long-term debt $672.200M, lease obligations $4.271M, decommissioning obligations $26.861M, deferred tax liabilities $9.583M, long-term incentive compensation liabilities $1.589M, other long-term obligations $5.631M. These components are not summed per reporting rules. · page: 182 · as at: 2025-09-30 · basis: Unaudited Q3 Interim Condensed Consolidated Financial Statements / MD&A comparative summary (tabular amounts in thousands) · scope: Consolidated Canacol Energy Ltd. and its subsidiaries (Canacol Group) · currency: USD · total assets: 1292418000
- secured creditorsnote: Facility limit US$75,000,000 with initial borrowing of US$50,000,000; no additional draws advanced as production targets not met; amortizing since Sept 15, 2025 due to Accelerated Amortization Event. Despite Canacol (an Alberta corporation) being borrower, no Canadian security agreement was executed and no PPSA financing statements were registered against Canacol or Canadian guarantors in Alberta, so Canadian assets are effectively unsecured as to this creditor. · as of: 2025-11-17 · amount: 37500000 · debtor: Canacol Energy Ltd. · creditor: Macquarie Bank Ltd. · currency: USD · security: Secured term loan facility (aggregate commitment US$75,000,000); intended first-priority security interest against Canacol Group's assets in Colombia and the United States, springing control (DACAs) over certain US/Colombian collection accounts, and pledges of shares of key Subsidiaries; guaranteed by 265 Alberta, 249 Alberta, Canacol ULC, Canacol Colombia, CNE O&G Colombia, CNE Energy Colombia, CNE Panama, Shona Switzerland and Cantana Switzerland