Viceroy Canadian Resources - SISP

A&M, in its capacity as the Court-appointed receiver and sales agent of Viceroy Canadian Resources Corp.’s (“Viceroy”) right, title and interest in and to the Amended and Restated Farm-In Participation Agreement, effective as of January 31, 2019 and amended and restated as of June 19, 2020, including without limitation the Debtor’s 5% working interest in the McKay SAGD Project (as defined in the Receivership Order) and the Plant (as defined in Schedule “B” of the Receivership Order), and any proceeds thereof (collectively, the “Property”), has launched a Court-approved sale process to solicit interest in the Property. Viceroy’s main asset is its 5% working interest in a steam assisted gravity drainage (“SAGD”) plant and facility located approximately 45 km north of Fort McMurray, which includes a SAGD plant and any associated equipment (the “Plant”). The Plant is primarily comprised of an oil processing facility, including steam, water treatment plant, oil processing and treatment facilities. The chattel designed Plant is designed as modules to be easily moved and transferable to wherever the production field is. Greenfire Resources Operating Corp. (“Greenfire”) has submitted a stalking horse bid to purchase the Plant. The offer to purchase is anticipated to consist of a combination of cash and the assumption of Viceroy’s 5% share of abandonment and reclamation obligations totaling approximately $2.5 million. Interested parties wishing to pursue a transaction are to submit a formal binding offer to the Monitor in accordance with the sale process, by the following deadline 4:00 p.m. Mountain Time on January 24, 2025. Further details.