On January 28, 2020, the Court of Queen’s Bench of Alberta (the “Court”) granted an Order (the “Receivership Order”) pursuant to section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (the “BIA”) and section 13(2) of the Judicature Act, RSA 2000, c.J-2, whereby Alvarez and Marsal Canada Inc. was appointed Receiver, without security, of all of Strategic Oil and Gas Ltd. and Strategic Transmission Ltd. (“Strategic” or the “Company”) current and future assets, undertakings and properties of every nature and kind whatsoever situated in the Northwest Territories, including all proceeds thereof and including, without limited in the generality of the foregoing, any letters of credit issued in respect of assets situated in the Northwest Territories (the “NWT Property”).

Notwithstanding anything else granted in the Receivership Order – NWT Assets, except as they specifically relate to the NWT Property, all powers of the receivership in relation to Strategic’s assets, business, undertakings and properties shall fall under the exclusive jurisdiction of KPMG Inc., in its capacity as Strategic’s Alberta receiver appointed in the within proceeding (the “Alberta Receiver”)

Receivership Order – NWT Assets shall be read in conjunction with the order made on January 28, 2020 appointing KPMG Inc. as the Alberta Receiver. For a copy of the Receivership Order – Alberta Properties and related application materials can be found on the Alberta Receiver’s website found here

On July 15, 2022, the Court granted an Order approving the NWT Receiver, with the support of the Government of the Northwest Territories, to conduct a Request for Proposals (“RFP”) to facilitate certain well abandonment work. Per the RFP, any qualified proponent must abide by the following deadline:

• Submission Time for Proposals: 5:00pm (Calgary Time) on October 14, 2022

Details of the RFP can be found at the corresponding tab.