Cequence Energy Ltd. announces that it has implemented the previously announced plan of compromise and arrangement of the Company, under the Companies’ Creditors Arrangement Act which was sanctioned on September 17, 2020 by order of the Court of Queen’s Bench of Alberta under the CCAA. The previous common shares of the Company have been cancelled, and the issuance of new common shares of Cequence pursuant to the terms of [...]
Cequence Energy Ltd. announces that the previously announced plan of compromise and arrangement of the Company, under the Companies’ Creditors Arrangement Act was sanctioned today by order of the Court of Queen’s Bench of Alberta under the CCAA. Cequence’s creditors approved the Plan at a creditors’ meeting held on Tuesday September 15, 2020. At the creditors’ meeting 100% of the votes cast by the secured creditors [...]
Cequence Energy Ltd. announces a recapitalization transaction , to be implemented as a plan of compromise and arrangement under the Companies’ Creditors Arrangement Act that will allow Cequence to reduce its debt and interest costs and improve liquidity to fund future operations. In connection with the Plan, Cequence has entered into a restructuring support agreement with certain lenders under the Company’s second lien [...]
Cequence is relying on exemptive relief granted by Canadian securities regulatory authorities in light of the COVID-19 pandemic that allows it to delay the filing of its interim financial report for the interim period ended June 30, 2020 as required by section 4.4 of National Instrument 51-102 and related management's discussion & analysis as required by subsection 5.1 of National Instrument 51-102 . Until such time as [...]
Cequence Energy Ltd. announces that it has obtained an order form the Court of Queen’s Bench of Alberta extending the stay of proceedings previously granted by the Court on May 29, 2020 as part of Cequence’s application under the Companies’ Creditors Arrangement Act . The stay of proceedings has been extended to September 8, 2020. The extension of the stay period will allow the Company to pursue potential strategic [...]
Cequence Energy Ltd. announces that it has commenced a strategic process to identify and pursue potential strategic options and alternatives to maximize the value for its stakeholders, which will be carried out under the Companies’ Creditors Arrangement Act . The strategic process will explore a broad range of options and alternatives that may be available to the Company to address its liquidity challenges brought on by [...]
Cequence Energy Ltd. is pleased to announce its operating and financial results for the three months ended March 31, 2020. The Company’s Management’s Discussion and Analysis and Condensed Consolidated Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Production was 5,669 boe/d for the three months ended March 31, 2020 compared to 5,964 boe/d for the same period in 2019 [...]
Cequence Energy Ltd. is pleased to announce its operating and financial results for the three and twelve months ended December 31, 2019. The Company’s Management’s Discussion and Analysis and Consolidated Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Production was 5,892 boe/d, 25% of which was comprised of crude oil and liquids for the three months ended [...]
Cequence Energy Ltd. is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility , and has confirmed the borrowing base remains at $7 million. Other than outstanding letters of credit totalling approximately $1.6 million, the Company currently has no amounts drawn under the Credit Facility. OVERVIEW OF CEQUENCE Cequence is [...]
Cequence Energy Ltd. is pleased to announce its operating and financial results for the three and nine months ended September 30, 2019. The Company’s Management’s Discussion and Analysis and Condensed Consolidated Interim Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Production was 5,238 boe/d, 22% of which was comprised of crude oil and liquids in the [...]
Cequence Energy Ltd. is pleased to announce its operating and financial results for the three and six months ended June 30, 2019. The Company’s Management’s Discussion and Analysis and Condensed Consolidated Interim Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Optimization projects implemented in the second quarter 2019 increased production to 6,142 boe/d [...]
Mr. G.A. Cumming announces the acquisition of 7,737,108 common shares of Cequence Energy Ltd. as part of a larger private placement of flow-through common shares of Cequence completed today. Under the Private Placement, Cequence issued a total of 17,230,769 common shares, all on a flow-through basis in accordance with to the Income Tax Act , at a subscription price of $0.65 per share, for aggregate gross proceeds of $11.2 [...]
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