On November 13, 2025, the Court of King’s Bench of Alberta granted an order pursuant to the Bankruptcy and Insolvency Act, appointing KSV Restructuring Inc. (“KSV”) as the receiver and manager (the “Receiver”) over all the current and future assets, undertakings, and properties (collectively, the “Property”) of Independent Renewable Resources Corp. (“IRRC”) and Independent Energy Holdings Inc. (“IEHI”, and collectively, the “Companies”).
On January 15, 2026, the Receiver obtained an order, among other things, approving a sale process (the “Sale Process”) and the Receiver’s engagement of Sayer Energy Advisors as the sales agent in the Sale Process. The Sale Process is intended to solicit interest in a sale of the Property, including IRRC’s used motor oil (“UMO”) feedstock modular refinery (the “Echo Refinery”) located on 49.39 acres of land in the Regional Municipality of Bone Creek No. 108, in southwest Saskatchewan (the “Lands”).
The Sale Process procedures, including the relevant milestones, are available on the Receiver’s case website at: www.ksvadvisory.com/experience/case/IRRC.
In a decommissioning and reclamation plan accepted by the Saskatchewan Ministry of Environment in 2024, the total estimated decommissioning value for the Property was $242,564. The next submission is not required until April 30, 2029.
Production volume summary information and further details on the Property will be available in the virtual data room for parties that execute a non-disclosure agreement (“NDA”).
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 an NDA (copy attached).
LOIs relating to this process, as outlined in the Sale Process procedures, will be accepted until 12:00 pm on Thursday, February 26, 2026.
For further information please feel free to contact: Ben Rye, Sydney Birkett or Tom Pavic at 403.266.6133.