On November 18, 2019, the Court of Queen’s Bench of Alberta (the “Court”) granted an order (the “Receivership Order”) placing Wolf Coulee Resources Inc. (“Wolf Coulee” or the “Company”) into receivership. Hardie & Kelly Inc. has been appointed as the receiver of the Company (the “Receiver”). A copy of the Receivership Order can be found below under the section entitled “Court Orders”.
The Receivership Order provides for a stay of proceedings such that creditors are prohibited from continuing or commencing any actions or exercising any rights against Wolf Coulee and or its assets for payment of goods and services supplied to prior to November 18, 2019, absent seeking leave of the Court. The Receivership Order further provides that suppliers of goods and services are restrained from discontinuing the provision of goods or services to the Receiver absent leave of the Court.
The Receiver filed an application which was heard July 2, 2020 at 10:00am, for approval of two proposed sale transactions, among other things. Copies of the Orders granted and application materials are provided below.
The Receiver has filed a further application to be heard August 7, 2020 at 2:00pm, for approval of two additional proposed sale transactions. Copies of the application materials are provided below.
Contact individual for the Receiver – Marc Kelly at 403-536-8510 or email@example.com
Field Operational Contact Information
The Receiver has retained Sproule Asset Management Limited (“Sproule”) to assist with the day-to-day management and operations of Wolf Coulee’s assets. Inquiries associated with day-to-day field operations can be directed to Chris Gossen at Sproule at 403-444-0302 or 403-807-9497.
The Receiver has engaged Sayer Energy Advisors (“Sayer”) as its sales agent to market the oil and gas interests of the Company. A copy of the Sale Solicitation Process document outlining the terms and conditions of the sales process and Sayer’s mailer summarizing the opportunity can be found below:
Additional information in respect of the offering can be obtained from the link to Sayer’s website below. The deadline for offers to be submitted to Sayer is March 3, 2020 at 12:00 P.M. MST.
Interested parties should contact Ben Rye or Tom Pavic, of Sayer, at 403-266-6133.
- Receivership Order – November 18 2019 – filed
- Sealing Order granted July 2, 2020
- Approval and Vesting Order re Tower Ridge granted July 2, 2020
- Approval and Vesting Order re Nuova Strada granted July 2, 2020
- Originating Application re: appointing Receiver – filed November 13, 2019
- Bench Brief – filed November 13, 2019
- Affidavit of Lars de Pauw – filed November 13, 2019
- Application by Receiver for Approval of SAVO (Amended)
- First Report of the Receiver dated June 23, 2020
- Application for Blue Springs and Bonavista SAVO
- Receiver’s Second Report – Wolf Coulee Resources – 29Jul20