Forden Energy Inc.
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2150865 Alberta Ltd.

On August 17, 2025, Forden Energy Inc. ("Forden") filed a Notice of Intention to Make a Proposal ("NOI") pursuant to s. 50.4 of the Bankruptcy and Insolvency Act ("BIA"), and G. Chan & Associates Inc. was appointed Proposal Trustee ("Trustee").

On October 1, 2025, 2150865 Alberta Ltd. ("215") also filed a NOI and G. Chan & Associates Inc. was appointed Trustee.

Status:
On October 28, 2025, Forden and 215 ("Debtors") obtained an extension of the NOI and Court approval to implement a sale and investment solicitation process ("SISP"). The deadline for binding bids pursuant to the SISP was extended to January 29, 2026, with the consent of the Proposal Trustee. The Debtors applied to the Court and obtained further extensions of the NOI stay of proceedings to February 15, 2026, to allow the SISP to run its course.

Following the deadline for binding bids, it was determined that while certain bids could be of value, concluding transactions within a BIA proposal was not viable. Accordingly, the Debtors, upon consultation with the Orphan Well Association, applied to the Court on February 2, 2026, for an Order ("Receivership Order") to appoint PricewaterhouseCoopers Inc. ("PwC") as Receiver.

The Proposal Trustee was discharged by the Receivership Order and all further inquiries should be directed to the Receiver.