On November 29, 2018, the Court of Queen’s Bench of Alberta (the “Court”) issued an Order appointing Hardie & Kelly Inc. (“H&K”) as Receiver (the “Receiver”) of certain assets of R.I.I. North America Inc. (“RIINA”).
For greater certainty, H&K was not appointed as Receiver over and has no interest in or responsibility for the following assets:
- The petroleum and natural gas properties located in Saskatchewan (the “PNG Property”);
- Any production revenues derived from the PNG Property; and
- Any office furniture and computer equipment located in Saskatchewan or Alberta.
A copy of the Receivership Order is available below.
Assets for Sale
The Receiver is now accepting offers for RIINA’s right , title and interest in the registered patents and patent applications in the jurisdictions of Canada, United States and Mexico (the “IP”) associated with an enhanced oil recovery technology, called the solvent thermal resource innovations process (“STRIP”), intended to cost effectively introduce heat and CO2 to oil bearing formations with a view to increasing the value and extending the life of heavy oil and bitumen reservoirs through improved recovery factors. The STRIP IP encompasses the following:
- Method for Initiating Circulation for Steam Assisted Gravity Drainage;
- Thermal Mobilization of Heavy Hydrocarbon Deposits;
- Apparatus and Method for Downhole Steam Generation and Enhanced Oil Recovery; and
- Method for Managing Channeling in Geothermal Recovery of Hydrocarbon Reservoirs
To obtain a copy of the Receiver’s Confidentiality Agreement (“CA”) and Asset Tender Package, please contact Marc Kelly at firstname.lastname@example.org or at 403-536-8510. Parties executing a CA will be provided access to the Receiver’s virtual and physical data rooms.
The deadline for offers is 12:00 p.m. MDT on Tuesday, June 25, 2019.
- Receivership Order – November 29, 2018
- Order re: Approval of Sales Process – May 15, 2019
- Order re: Interim and Final Distributions – May 15, 2019
Contact Information for the Receiver
For further information, please contact Marc Kelly of the Receiver’s office at email@example.com or 403-536-8510.