Alberta · CCAA
First Report of the Proposal Trustee dated October 18, 2024
Court officer report · 18 October 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- financial positionnote: Total assets ($38,218,000, in $000s book value) are as at June 30, 2024 (per most recent internal financial statements); total liabilities are stated as 'in excess of $42.64 million' (a floor) as at the Filing Date (October 1, 2024), comprising secured obligations of ~$31.69 million to TEC and unsecured obligations of $10.95 million; asset retirement obligations of ~$33.61 million as at June 30, 2024 are listed separately and not included in the $42.64 million liabilities figure; balance sheet as at June 30, 2024 also recorded negative retained earnings of ~$38.75 million. · page: 6 · as at: 2024-06-30 · basis: unaudited internal/management financial statements; book value for assets · scope: entity (Erikson National Energy Inc.) · currency: CAD · total assets: 38218000 · total liabilities: 42640000
- secured creditorsnote: Prose approximation of $31.69 million also stated; exact balance owed per para 4 used as amount · page: 6 · as of: NOI filing date (October 1, 2024) · amount: 31696602 · debtor: Erikson National Energy Inc. · creditor: Third Eye Capital Corporation, as agent for Third Eye Capital Alternative Credit Trust, Ninepoint-TEC Private Credit Fund, and MBI/TEC Private Debt Opportunities Fund II, L.P. (the "Lenders") · currency: CAD · security: Security agreement dated October 15, 2019 securing TEC Facility (working capital loans) under credit agreement dated October 15, 2019
- secured creditorsnote: Amount not stated · page: 6 · debtor: Erikson National Energy Inc. · creditor: Canadian Natural Resources, A General Partnership · currency: CAD · security: PPSA (Alberta/BC) registrations related to various Operating Agreements relating to a sub-set of Erikson's wells and related infrastructure
- secured creditorsnote: Amount not stated; also holds cash collateral (~$4.16 million) securing letters of credit in favour of BCER and Nova Gas · page: 6 · debtor: Erikson National Energy Inc. · creditor: ATB Financial · currency: CAD · security: PPSA registrations over specific accounts
- secured creditorsnote: Amount not stated · page: 6 · debtor: Erikson National Energy Inc. · creditor: Calmont Leasing Ltd. · currency: CAD · security: PPSA registrations - various vehicle leases