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What we verified from this filing4 verified
- financial positionnote: Assets comprise Cash $1,840,630; Oil and Gas Assets $3,811,256 (pre-impairment); Non-Oil and Gas Assets $4,451,178; Accounts Receivable $751,963. Liabilities comprise Accounts Payable $372,597 and Asset Retirement Obligations $15,612,263. · page: 3 · as at: 2021-02-28 · basis: Book value (pre-impairment); company was in process of completing an impairment assessment under IAS 36 and it was 'highly likely' oil and gas asset carrying values would be reduced · scope: GS E&R Canada Inc. (single entity) · currency: CAD · total assets: 10855027 · total liabilities: 15984860
- secured creditorsnote: Fully secured with $475,000 term deposit cash collateral held by the bank · page: 4 · amount: 475000 · debtor: GS E&R Canada Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: All-present-and-after-acquired-property charge (PPR registration); relates to $475,000 in credit facilities
- secured creditorsnote: Sole identified financier: TDF Group Inc.; lease term expiring October 31, 2022; amount is approximate ('approximately $32,500 owing') · page: 4 · amount: 32500 · debtor: GS E&R Canada Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Serial number registration against a leased field truck
- secured creditorsnote: Regulatory security deposit for potential environmental reclamation costs; regulator-imposed quasi-debt · page: 4 · as of: 2021-03-09 · amount: 4313938 · debtor: GS E&R Canada Inc. · creditor: British Columbia Oil and Gas Commission (BCOGC) · currency: CAD · security: Security deposit ordered against the company's assets/production