or
Remember me
Back
NOTICE TO TUDOR CORPORATION LTD. SHAREHOLDERS:
After operating for thirty-four years we are closing Tudor Corporation Ltd. and all of its subsidiaries effective September 15, 2016.
All persons who were serving on the Board of Directors and our CFO have resigned; this is why Tudor Corporation Ltd. has a cease trading order in effect.
We cannot continue to operate as a viable company as the Alberta Energy Regulators have taken away all of our operator’s licenses, effectively shutting down the company. They are also demanding a fee of $1,467,878.00 because our “deemed” assets are less than our “deemed” liabilities. We have already contributed $296,552.00 to the “Orphan Well Fund” set up in Alberta.
We have waited all these years for the price of natural gas to go up so we could turn our wells back on and start making a profit and the AER has declared that the wells are worth nothing and are demanding they be abandoned. As of today natural gas has reached $2.91 – up .11 cents. Tudor Corporation Ltd. and its shareholders have been stripped of everything.
We published these facts on CN Newswire August 31, 2016. We have started looking into bankruptcy protection proceedings. Lionel Conn
A daily snapshot of everything from market open to close.