Page last updated: February 5, 2014
This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.
On September 25, 2013, Lone Pine Resources Inc., Lone Pine Resources Canada Ltd., Lone Pine Resources (Holdings) Inc., Wiser Oil Delaware, LLC, and Wiser Delaware, LLC (collectively the “Applicants” or the “Companies”) applied for and received an order (the “Initial Order”) for protection pursuant to the Companies’ Creditors Arrangement Act (“CCAA”), R.S.C.1985, c.C-36 from the Court of Queen’s Bench of Alberta, Calgary Division, which includes, among other things, a stay of proceedings against the Companies, and the appointment of PricewaterhouseCoopers Inc. as monitor of the Applicants.
The Initial Order, among other things,:
The Monitor has received written notice form the Applicants and Goodmans LLP (on behalf of the Initial Consenting Noteholders) that the conditions precedent set out in Section 9.1 of the Plan have been satisfied or waived in accordance with the terms of the Plan. Additionally, the Plan Implementation Date has occurred and the Plan is effective in accordance with its terms and the terms of the Sanction Order.
A copy of the Monitor's Certificate is posted here:
On January 9, 2014, the Honourable Mme. Justice B.E. Romaine, granted the Sanction Order which states the following:
A copy of the Sanction Order can be found in section Court Orders.
On December 13, 2013, the Honourable Mme. Justice B.E. Romaine, granted the Meeting Order which among other things:
A copy of the Meeting Order is posted in section, Court Orders.
Meeting Materials for Affected Unsecured Creditors can be found in the section, Creditor Meeting Materials - Affected Unsecured Creditors.
Meeting Materials fr Noteholder can be found in the section, Creditor Meeting Materials- Noteholders.
The following Monitor reports are included in the Monitor's Reports section:
A copy of the Company's proposed Plan of Arrangement can be found in Exhibit 1 of Affidavit No. 4 of Tim Granger which is filed in section, Lone Pine Resources Motion Materials.
Additionally, the Monitor's 6th Report, which will include a fairness opinion of the Plan, will be released and posted later in the week.
On November 27, 2013, the Honourable Justice K.D. Yamauchi granted an order which:
For further details, a full copy of the order can be found in section, Court Orders.
Paragraph 2 of the Stay Extension Order granted on October 24, 2013 (the "Stay Extension Order"), mandates that the Stay Period shall expire on November 13, 2013, unless on or prior to November 13, 2013, the Monitor files a Certificate certifying that the Monitor and Syndicate consent to the Stay Period being extended to November 29, 2013. In accordance with paragraph 2 of the Stay Extension Order, the Monitor certifies:
A full copy of the Monitor's Certificate can be found in section Court Orders.
On November 8, 2013, the Honourable Justice G.C. Hawco granted an order, which, among other things, extended the Claims Bar Date to November 27, 2013.
Any Claimant who does not return a Proof of Claim to the Monitor by the Claims Bar Date shall among other things:
Copies of the Claims Package, including the Proof of Claim form can be found in the Claims Procedure section of this website. A Claims Package can also be obtained through contacting the Monitor by phone or email using the contact information section of this website.
A copy of the order granted November 8, 2013 will be posted once it is available.
A transcript of the proceedings is available in the Lone Pine Resources Materials section.
The Stay Period, as ordered and defined in the Initial Order granted September 25, 2013, was extended until and including November 13, 2013. With respect to the Senior Notes issued pursuant to and governed by the indenture dated February 14, 2012, the Order contains certain details surrounding the mechanics for meetings.
A copy of the Order can be found in the Court Orders section.
On October 18, 2013, Lone Pine Resources Canada Ltd. obtained an Order Granting Recognition of Foreign Main Proceeding and Certain Related Relief on a Final Basis (the "Recognition of Foreign Main Proceeding Order"). Among other items, the Order decreed the following:
A copy of the Recognition of Foreign Main Proceeding Order can be found in the US Court Orders section.
On October 9, 2013, the Court of the Queen's Bench of Alberta approved a Claims Procedure Order (the "Claims Order") establishing a procedure (the "Claims Procedure") for determining claims of creditors against the Companies. Please be advised that in accordance with the Claims Order:
The Agent of the Syndicate, individual Syndicate members, the Indenture Trustee, and individual Noteholders are not required nor permitted to file Proofs of Claim for amounts owing. Rather, within 7 business days of the Claims Procedure Order being granted, the Companies will send the Agent and the Indenture Trustee, a notice stating the accrued amounts owing up to the File Date. If the parties cannot agree to the accrued amounts owing, the amount will be determined by the Court.
A copy of the Claims Procedure Order can be found in the Claims Procedure section of this website.
On September 26, 2013, Lone Pine Resources Canada Ltd. obtained the following orders from the United States Bankruptcy Court District of Delaware:
Copies of the above noted US Court Orders can be found in the US Court Orders section of this website. Additionally the Notice of Recognition Hearing document can be found in the US Motion Materials section of this website.
This Web site will be updated as information becomes available.
For more information, please contact: Roland Young, Telephone: +1 403 509 7366 , or via Email.