PricewaterhouseCoopers Inc. LIT was appointed by the Court of Queen’s Bench of Alberta ("Court") as the receiver and manager (the "Receiver") of Accel Canada Resources Limited ("ACRL").

On August 28, 2020, the Court issued an order approving a stalking horse sales process ("Sales Process") for the divestiture of ACRL’s property (the "Property"). The Property is integral to the operations of Accel Canada Holdings Limited ("Holdings") and consists of gas plant assets and associated infrastructure in the Redwater Alberta area (the “Redwater Plant Assets”), which are comprised of:

• Sour gas plant assets, being a 100% working interest in a 4.5 million cubic feet/day sour gas processing plant located at section 29, township 57, range 21 W4M (the “Redwater Gas Plant");
• Multi-well battery assets, being a 100% working interest in an oil battery capable of processing over 30,000 bbls /day in production located on the same site (the “Redwater Battery”); and,
• Certain lands associated with the Redwater Gas Plant and Redwater Battery (the "Redwater Lands").

The deadline for submission of bids is September 25, 2020.

Additional Information on the Sales Process and the receiverships of ACRL and Holdings can be found on the following websites:

• www.pwc.com/ca/accel-canada-resources-limited
• www.pwc.com/ca/accelcanada

For further information please contact Yi Huang at (403) 509-7375 or yi.h.huang@pwc.com