Alberta · CCAA
01. First Report of the Monitor
Court officer report · 12 January 2009
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 filing6 verified
- cash on handnote: Rock Well Canada ending cash balance as at January 2, 2009 (forecast was $211,032). Separately, Rock Well U.S. ending cash balance as at January 2, 2009 was $796,945 (forecast $87,917). Appendix notes cash balances exclude cash of approximately $108,000 (Canada) and $196,000 (US) that management believes may be restricted pending legal review. · as at: 2009-01-02 · amount: 546226 · currency: CAD
- disbursementsnote: Rock Well U.S. actual cash disbursements for the US Reporting Period, approximately; about $589,761 less than forecast. Rock Well Canada actual disbursements for the same period were $66,715 (currency not stated in the text). · since: the date of the Initial Order to January 2, 2009 · amount: 836279 · currency: USD
- operational summaryFollowing the Initial Order, Rock Well has not seen a material change to operations, has kept its reduced workforce (about 43 employees, down from 309) and has generally had critical vendor support. Without DIP financing or asset sales it would likely run out of cash shortly after February 6, 2009.
- receipts cumulativenote: Rock Well U.S. actual cash receipts for the US Reporting Period, approximately; forecast exceeded by approximately $119,267, primarily due to higher oil sales. Rock Well Canada had no cash receipts forecast or received in the Reporting Period. · since: the date of the Initial Order to January 2, 2009 · amount: 504818 · currency: USD
- report date12 January 2009
- report noFirst Report