Saskatchewan · Receivership (court-appointed)
Notice and Statement of the Recevier
Notice of receiver (s. 245 / Form 87) · 8 March 2022
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 filing11 verified
- financial positionnote: The Receiver states a total of $30,006,500: cash $488,000; prepaid expenses $195,300; land acquisitions $85,700; computers, equipment & vehicles $315,200; production equipment & facilities $3,760,300; production properties $25,162,000 (approximately 2,600 shallow gas wellbores in the Abbey area of southwest Saskatchewan). The lines carry DIFFERENT as-at dates — cash at the date of receivership, the rest per the January 2022 trial balance — so no single as-at date applies. No liabilities total is stated: secured claims are stated at $34,587,800 “(Approximation)”, and the list of other creditors is attached as Exhibit “A”, which is not within these pages. · page: 1 · basis: “Based on the Company's books and records” — cash at the date of receivership; prepaid expenses, land acquisitions and production equipment/facilities per the January 2022 trial balance; computers, equipment and vehicles per that trial balance net of depreciation. · scope: Abbey Resources Corp. (entity level) — assets only · currency: CAD · total assets: 30006500
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 1 · amount: 2158700 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Snipe Lake · currency: CAD · security: Security interest in the property; an applicant for the receivership order.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 1 · amount: 1584500 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Lacadena · currency: CAD · security: Security interest in the property; an applicant for the receivership order.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 1 · amount: 1697400 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Miry Creek No. 229 · currency: CAD · security: Security interest in the property.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. · page: 1 · amount: 286300 · debtor: Abbey Resources Corp. · creditor: Carry the Kettle First Nation · currency: CAD · security: Security interest in the property.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Crown/regulatory claim (shallow gas wellbore obligations on the face of the filing). · page: 1 · amount: 28412300 · debtor: Abbey Resources Corp. · creditor: Minister of Energy and Resources (Government of Saskatchewan) · currency: CAD · security: Security interest in the property; the Ministry was one of the applicants for the receivership order.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 2 · amount: 193100 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Clinworth No. 230 · currency: CAD · security: Security interest in the property.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Federal Crown corporation claim. · page: 2 · amount: 44800 · debtor: Abbey Resources Corp. · creditor: Indian Oil & Gas Corporation · currency: CAD · security: Security interest in the property; an applicant for the receivership order.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 2 · amount: 800 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Pittville · currency: CAD · security: Security interest in the property.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 2 · amount: 600 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Chesterfield No. 261 · currency: CAD · security: Security interest in the property.
- secured creditorsnote: Estimated amounts owed to each creditor holding a security interest in the property, stated by the Receiver in the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA). The document states a total of $34,587,800, expressly labelled “(Approximation)”. Municipal claim. · page: 2 · amount: 209300 · debtor: Abbey Resources Corp. · creditor: Rural Municipality of Riverside · currency: CAD · security: Security interest in the property.