PROPOSALS DUE: Wednesday, November 1, 2017 at 12:00 PM MDT.
FTI Consulting Canada Inc. (“FTI Consulting” or the “Receiver”), acting in its capacity as Receiver of Scollard Energy Ltd. (“Scollard” or the “Company"), has engaged GMP FirstEnergy as financial advisor in relation to Scollard and the sale of any or all of the assets of the Company (the “Assets”). All transactions shall be subject to approval of the Court of Queen’s Bench of Alberta.
Scollard is a central Alberta, W5 focused producer, with a large economic inventory of Glauconitic, Spirit River, Cardium and Ellerslie drilling opportunities across four core areas. Limited activity over the last 3 years with 2 wells drilled since 2014, has resulted in an established low decline, liquids rich gas and oil production base as well as under utilized existing infrastructure for future growth. Notable recent offsetting activity in core areas has helped to unlock additional upside both in inventory and type curve performance.
FTI Consulting, acting as Receiver, has initiated a process to review strategic alternatives with a view to maximizing value. This may include, among other alternatives, the sale of the Company or a portion of the Company’s assets, a merger, farm-in or joint venture, or other such options as may be determined by the Receiver.
A detailed marketing presentation and Confidentiality Agreement (“CA”) will be made available on GMP FirstEnergy’s website or can be obtained by contacting GMP FirstEnergy directly. Parties who execute a CA will have access to the confidential information available in an online data room which will open the week of October 2, 2017. Technical presentations with Scollard’s management team will be available upon request starting the week of October 9, 2017. Please direct all correspondence and inquiries to GMP FirstEnergy:
This document has been prepared by GMP FirstEnergy from information provided by Scollard and other sources and is being distributed for the sole purpose of providing recipients with an overview of the Company and its assets in connection with a possible transaction (the “Transaction”).
In preparing this document, GMP FirstEnergy relied without any independent verification on information provided or that is publicly available. The information and any analyses in this document are preliminary and the prospective counterparty will conduct its own independent evaluation and analysis of the information and satisfy itself as to the quality, accuracy, completeness and materiality of this information. Prospective counterparties will rely solely on their own due diligence and investigation in respect of any decision of whether or not to submit a proposal, enter into a definitive agreement and complete a Transaction.
This document may include certain statements, estimates, forecasts and projections provided by the Company and with respect to the anticipated future performance of the assets. Such statements, estimates, forecasts and projections reflect various assumptions made by the Company and/or GMP FirstEnergy concerning anticipated results, which may or may not prove to be correct. No representations or warranties are made as to the accuracy of such statements, estimates, forecasts or projections.
Unless otherwise noted:
All dollar values contained herein are in C$ (M is thousands, MM is millions).
All oil and gas equivalent volumes are converted at 6 Mcf/bbl.