On February 13, 2025, FTI Consulting Canada Inc. (the “Receiver”) was appointed receiver and manager of Kaden Energy Ltd. (“Kaden” or the “Company”) and Beta Energy Corp. (“Beta”, and together with Kaden, the “Debtors”) pursuant to an order of the Court of King’s Bench of Alberta (the “Court”). The Receiver has retained Alcedio Capital Inc. as its exclusive sales advisor (the “Sales Agent”). Kaden is a private, Alberta-based junior energy company (January production of 965 boe/d) engaged in the development of Cardium light oil plays in the Kakwa and Smoky regions of Alberta. Kaden has drilled the first two phases of wells in Kakwa (first phase in Smoky) to learn and optimize future drilling with analogue operations in Wapiti, Alberta. PDP reserves are valued at $16.1MM from 12 wells drilled to date.
Phase 1 bids must be received on or before 5:00 pm MT on April 24, 2025.