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Twin Butte Energy Ltd TBTEF

Twin Butte Energy Ltd is an oil and natural gas exploration, development and production company with properties located in Western Canada. The firm's operational assets have been sold to West Lake Energy Corp.


GREY:TBTEF - Post by User

Bullboard Posts
Post by lightscamon Feb 08, 2017 2:37pm
160 Views
Post# 25817981

Now with a history of directors and vice president

Now with a history of directors and vice president John Brussa, a director of Twin Butte, resigned as a director of Calmena Energy Services Inc. ("Calmena") on June 30, 2014. On January 19, 2015, a senior lender of Calmena made an application to the Court of Queen's Bench of Alberta to appoint an interim receiver under the Bankruptcy and Insolvency Act (Canada) and trading in the common shares of Calmena was suspended by the TSX. On January 20, 2015, the senior lender was granted a receivership order by the Court of Queen's Bench of Alberta. Mr. Brussa was also a director of Enseco Energy Services Corp. ("Enseco"), a public oilfield service company, which was placed in receivership on October 14, 2015 and, in connection therewith, a receiver was appointed under the Bankruptcy and Insolvency Act (Canada). Mr. Brussa resigned as a director of Enseco on October 14, 2015. On December 21, 2015 Enseco was assigned into bankruptcy by the receiver. Mr. Brussa is a director of Argent Energy Ltd. which is the administrator of Argent Energy Trust. On February 17, 2016, Argent Energy Trust and its Canadian and United States holding companies (collectively "Argent") commenced proceedings under the Companies' Creditors Arrangement Act ("CCAA") for a stay of proceedings until March 19, 2016. On the same date, Argent filed voluntary petitions for relief under Chapter 15 of the United States Bankruptcy Code ("Chapter 15"). On March 9, 2016, the stay of proceedings under the CCAA was extended until May 17, 2016. Additionally on March 10, 2016 the U.S. Bankruptcy Court approved an order recognizing the CCAA as the foreign main proceedings under Chapter 15. David Fitzpatrick, a director of Twin Butte, has been a director of Lone Pine Resources Inc. ("Lone Pine"), an oil and natural gas company, since June 1, 2011 and was the former Interim Chief Executive Officer of Lone Pine from February 28, 2013 until May 30, 2013. On September 25, 2013, Lone Pine commenced proceedings in the Court of Queen's Bench of Alberta under the Companies' Creditors Arrangement Act ("CCAA") and ancillary proceedings under Chapter 15 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. On January 31, 2014, Lone Pine completed its emergence from creditor protection under the CCAA and Chapter 15 of the United States Bankruptcy Code. Lone Pine, Lone Pine Resources Canada Ltd. and all other subsidiaries of Lone Pine were parties to the CCAA and Chapter 15 proceedings. Gordon Howe, the Vice President, Land of Twin Butte, was the Vice President, Land and Negotiations of Lone Pine from June 1, 2011 to January 3, 2013.
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