On October 23, 2024, pursuant to the Bankruptcy and Insolvency Act (“BIA”), further to an order application by the Orphan Well Association together with the British Columbia Energy Regulator, PricewaterhouseCoopers Inc. LIT was appointed as Receiver (the “Receiver”) of Tallahassee Exploration Inc. (“Tallahassee” or the “Company”). Sayer Energy Advisors has been engaged to assist the Receiver with the sale of Tallahassee’s oil and natural gas properties (the “Properties”) located in Alberta and British Columbia. 

The Properties consist of both operated and non-operated interests located throughout Alberta and British Columbia. For this offering, the Properties are separated into the following geographical packages: Southern Alberta, Central Alberta, Northern Alberta and Northeastern BC. 

On June 5, 2024 the Alberta Energy Regulator (“AER”) issued a corporate abandonment order to Tallahassee, requiring the Company to decommission its sites and submit and implement an approved reclamation plan. Further to the closure order from the AER, Tallahassee licensed properties have been shut-in since June 2024.

As a result, all production numbers stated herein reflect the production capability of the various wells or properties held by Tallahassee prior to being shut-in. Average gross production capability from the Properties is approximately 2,630 boe/d, consisting of 12.1 MMcf/d of natural gas and 611 bbl/d of oil and natural gas liquids.

Summary information relating to this divestiture and a package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement.

Offers relating to this process will be accepted until 12 p.m. on Thursday, May 1, 2025.

For further information please feel free to contact: Ben Rye, Sydney Birkett or Tom Pavic at 403.266.6133.