Announcement - March 21, 2017

 

Announcement - March 21, 2017

Court approves receiver for Lexin assets

The Court of Queen’s Bench has approved the Alberta Energy Regulator’s (AER) application for a receiver to be appointed over all assets of Lexin Resources Ltd. regulated by the AER.

The receiver will facilitate a sales process to market and sell Lexin’s assets.

The receiver will not take possession of the assets. Care and custody of Lexin’s assets remain with the Orphan Well Association and identified working interest participants.

The receiver is Grant Thornton LLP. More information can be found on the Lexin receivership process can be found on their website at www.grantthornton.ca.

The Alberta Energy Regulator ensures the safe, efficient, orderly, and environmentally responsible development of hydrocarbon resources over their entire life cycle. This includes allocating and conserving water resources, managing public lands, and protecting the environment while providing economic benefits for all Albertans.