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 has filed an application, to be heard July 2, 2020 at 10:00am, for approval of two proposed sale transactions, among other things. Court documents are provided below.
Contact individual for the Receiver – Charla Smith at 403-536-8506 or firstname.lastname@example.org
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.