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On January 29, 2023, PricewaterhouseCoopers Inc., LIT was appointed as trustee (the “Proposal Trustee”) of Goldenkey Oil Inc. pursuant to the Bankruptcy and Insolvency Act, under which it filed a Notice of Intention to Make a Proposal. Goldenkey Oil Inc. and its joint venture partners (collectively “Goldenkey” or the “Company”) has engaged Sayer Energy Advisors to assist it with a sale of all of Goldenkey’s oil and natural gas interests located in the Willesden Green , Belloy , and Nipisi areas, as well as minor interests in the Matziwin, Manir and Smoky areas of Alberta (the “Properties”). The Proposal Trustee has also provided a Sale and Investment Solicitation Process document (the “SISP”) outlining the details of the bankruptcy sale. A copy of the SISP is found on our website at www.sayeradvisors.com . Average daily production net to Goldenkey from the Properties for the three months ended February 28, 2023 was approximately 62 barrels of oil per day and 184 Mcf/d of natural gas (92 boe/d). Operating income net to Goldenkey from the Properties for three months ended February 28, 2023 averaged approximately $88,900 per month, or $1.1 million on an annualized basis. As of March 4, 2023, Goldenkey’s net […]
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