Twin Butte Energy Ltd TBTEF

RE:RE:Quattro Exploration CCAA Situation

[PetroExplorer]

Scottie99 wrote: Even Connacher that is in worse shape than TBE has requested and obtained an extension. It would be interesting how the Receiver's application plays out in court next week if stakeholders appear in court to protest the daylight robbery!

CALGARY, Jan. 13, 2017 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) announced that it has obtained an order from the Alberta Court of Queen’s Bench extending the period of the Court-ordered stay of proceedings against Connacher under the Companies’ Creditors Arrangement Act (“CCAA”) until and including June 30, 2017. The Company has been operating under the protection of the CCAA since May 17, 2016.

All inquiries regarding Connacher’s CCAA proceedings should be directed to the Monitor, Ernst & Young Inc. The Monitor has established the following information hotline related to enquiries regarding the CCAA process, at 403-206-5650. In addition, information about the CCAA proceedings, including copies of all court orders and the Monitor’s reports, is available at the Monitor’s website, www.ey.com/ca/connacheroilandgas.

The Company does not intend to comment further regarding the CCAA process unless it is determined that further disclosure is appropriate or required by law.

https://boereport.com/2017/01/13/connacher-oil-and-gas-limited-announces-extension-of-ccaa-stay-5/

Unreal Scottie: Connacher is extended again  in CCAA, until June.  That should give them a few more months of breathing room to keep plodding along, while they try and finalize various deals.  And oil prices are definitely on the right track, albeit far too slow, which is unfortunate for TBE.