On January 28, 2020, the Alberta Court of Queen’s Bench (the “Court”) made an order (the “Receivership Order”) appointing Alvarez & Marsal Canada Inc. (“A&M”) as receiver and manager (“the NWT Receiver”) over all of Strategic Oil & Gas Ltd.’s and Strategic Transmission Ltd.’s (together “Strategic” or the “Company”) property located in the Northwest Territories (the “NWT Property”).

The NWT Receiver, with the support of the Government of the Northwest Territories (“GNWT”), is conducting a Request for Proposals (“RFP”) to facilitate the well abandonment work (the “NWT Abandonment Work”) with respect to the NWT Property.

The NWT Receiver invites qualified proponents to submit a competitive proposal (“Proposal”) for the planning, management and performance of the NWT Abandonment Work, as further described in the RFP, which will be performed pursuant to an abandonment contract between the successful proponent and the NWT Receiver. GNWT will provide the necessary funding to carry out the NWT Abandonment Work.

On July 15, 2022, the Court made an order approving the NWT Receiver to conduct the RFP. The respective RFP document can be found on the NWT Receiver’s website: www.alvarezandmarsal.com/sog.

Per the RFP, any qualified proponent must abide by the following deadline:

•  Submission Time for Proposals: 5:00pm (Calgary Time) on September 2, 2022

Qualified proponents who wish to submit a Proposal are required to execute a Participation Agreement, which is available upon request, to receive access to additional information. For further information please feel free to contact: Duncan MacRae at dmacrae@alvarezandmarsal.com or (403) 538-7514.