Avila Energy Corp C.VIK

Alternate Symbol(s): PTRVF

Avila Energy Corporation is a Canada-based resource-based company engaged in the acquisition of, exploration for, and the development and production of crude oil, natural gas, and natural gas liquids in Western Canada. The Company's assets consist of the West Central Alberta assets (WCA) located 50 kilometers southwest of Edmonton, Alberta, and the East Central Alberta assets (ECA) located 90 kilometers east of Red Deer, Alberta. The Company is in the initial phases of development of a Carbon Capture and Sequestration Plan in WCA.

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Avila Energy Corp

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Comment by unevenon Apr 06, 2011 3:13pm

424 Views

Post# 18394958

RE: Nice start

Not so nice past though,,,

Deep Creek encountered financial difficulties and suffered a reduction of revenue due to falling oil and gasprices in the global economic crisis in 2008 and 2009. Deep Creek filed a notice of intention to make aproposal under the Bankruptcy and Insolvency Act (BIA) on March 19, 2009. The proposal was made on June18, 2009, pursuant to the provisions of Part III, Division I, of the BIA. On June 23, 2010, Deep Creek emergedfrom creditor protection upon the completion and fulfillment of the restructuring proposal approved by DeepCreek's bankruptcy trustee and creditors on July 23, 2009.

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