Forden Energy Inc. and 2150865 Alberta Ltd. – Insolvency Sale

Forden Energy Inc. and 2150865 Alberta Ltd. (collectively the “Companies”) have engaged Sayer Energy Advisors to assist the Companies with a sale and investment solicitation process (the “SISP”) in order to solicit interest in the purchase of or investment in all or part of the business or operations of the Companies or its undertaking, property and assets. The Companies have each filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to section 50.4 (9) of the Bankruptcy and Insolvency Act and G. Chan & Associates Inc. (the “Proposal Trustee”) is acting as Proposal Trustee of the Companies for the NOI process. The SISP is to be undertaken by the Companies in its NOI proceedings under a Court authorized process and is subject to the oversight of the Proposal Trustee.

Potential outcomes include, but are not limited to, a sale of the shares of the Companies, the sale, in whole or in part, of all of the oil and natural gas assets held by the Companies, or a joint venture. A copy of the SISP can be found on Sayer’s website at www.sayeradvisors.com.

The Companies’ oil and natural gas interests are located in the Crystal, Ferrybank, Kaybob and Sullivan Lake areas of Alberta (the “Properties”).

Production from the Properties is currently shut-in. Average daily sales production net to the Companies from the Properties from January to July 2025 was approximately 150 boe/d, consisting of approximately 82 bbl/d of oil and natural gas liquids and approximately 417 Mcf/d of natural gas.

Average daily sales production net to the Companies from the Properties for 2024 was approximately 261 boe/d, consisting of approximately 132 bbl/d of oil and natural gas liquids and approximately 773 Mcf/d of natural gas.

Operating income net to the Companies from the Properties from January to July 2025 was approximately ($1.5 million) or ($2.5 million) on an annualized basis. Operating income net to the Companies from the Properties for 2024 was approximately ($2.5 million).

As of October 8, 2025, the Properties had a deemed liability value of $20.8 million.

Summary information relating to this divestiture is attached to this correspondence. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).

Offers as outlined in the SISP relating to this process will be accepted until 12:00 pm on Thursday, December 18, 2025.

For further information please feel free to contact: Ben Rye, Sydney Birkett or Tom Pavic at 403.266.6133.