Energy — upstream

Strategic Oil & Gas Ltd.

Restructuring and insolvency · Alberta · Energy — upstream · Discharge · Closed · 25 Nov 2025

Discharge Order - Filed November 25, 2025

stay expiry 2019-05-06
stay expiry 2019-11-29
stay expiry 2019-12-31
stay expiry 2020-01-31

Court file 1901-05089 · Court of Queen's Bench of Alberta

Opened 10 Apr 2019

KPMG Inc. (monitor)

“C-36 as amended (the "CCAA") The Initial Order granted, amongst other things, a stay of proceedings until May 6, 2019 while the Company pursues restructuring initiatives under the CCAA.”

“On September 20, 2019, the Company obtained an order extending the stay of proceedings until and including November 29, 2019.”

“On October 11, 2019, the Company obtained an order extending the stay of proceedings until and including December 31, 2019.”

“On December 3, 2019, the Company obtained an order extending the stay of proceedings until and including January 31, 2020.”

• Discharge order filed november 25 2025

MEG Energy Recommends that Shareholders Reject the Revised Strathcona Offer;

M&A · Alberta · Energy — upstream · Court hearing scheduled · In court · 15 Sep 2025

(Calgary Time) on October 7, 2025 (or if the Meeting is adjourned or postponed, no later than 4:30 p.m.

cash consideration $27.25 (per MEG Share)
consideration form cash and shares
premium to market 30% (its NAV)
price per security $28.18 (per share)

Consideration $8.20B

Opened 07 Oct 2025

BMO Capital Markets (financial advisor); Burnet, Duckworth & Palmer LLP (legal advisor); RBC Capital Markets (financial advisor); Norton Rose Fulbright Canada LLP (legal advisor)

“The Cenovus Transaction provides MEG Shareholders with choice to elect their preferred form of consideration and is to be completed by way of a plan of arrangement under the Business Corporations Act ( Alberta ) where each MEG Shareholder will be entitled to elect to receive: i. $27.25 in cash per MEG Share; or ii.”

“Unlike the Revised Strathcona Offer, the Cenovus Transaction offers MEG Shareholders either the combination of cash and shares, or the option to choose their preferred form of consideration.”

“Third party research notes that Strathcona is "trading at a ~30% premium to its NAV, versus the median E&P in our coverage trades at a discount" 1 and, as of September 12, 2025 , the median target price of Strathcona Shares among equity research analysts covering Strathcona was below the market-observed trading price of Strathcona Shares.”

“Reaffirms Support for the Cenovus Transaction (CNW Group/MEG Energy Corp.) On August 22, 2025 , MEG announced it had entered into an arrangement agreement (the "Arrangement Agreement") with Cenovus Energy Inc. (TSX: CVE ) (NYSE: CVE) ("Cenovus") under which Cenovus will acquire all of the issued and outstanding MEG Shares in a transaction that values MEG at $28.18 per share on a fully prorated basis at Cenovus's closing share price on September 12, 2025 , representing an enterprise value of approximately $8.2 billion , including assumed debt (the "Cenovus Transaction").”

• MEG Energy Recommends that Shareholders Reject the Revised Strathcona Offer;

Anterra Energy Inc.

Restructuring and insolvency · Alberta · Energy — upstream · Discharge · Closed · 13 Nov 2019

Court order discharging the monitor,

stay expiry 2016-08-16
stay expiry 2017-01-20
stay expiry 2017-04-14
stay expiry 2017-06-02
stay expiry 2017-06-16

Court file 1601-05247 · Court of Queen's Bench of Alberta Judicial Centre of Calgary

Opened 06 May 2016

PricewaterhouseCoopers (receiver)

“On June 3, 2016 the Court issued an Order extending the stay of proceedings in this matter up to and including August 16, 2016.”

“On October 24, 2016 the Court issued an Order extending the stay of proceedings in this matter up to and including January 20, 2017.”

“On January 18, 2017 the Court issued an Order extending the stay of proceedings in this matter up to and including April 14, 2017.”

“On April 13, 2017 the Court issued an Order extending the stay of proceedings in this matter up to and including June 2, 2017.”

“On May 18, 2017 the Court issued an Order extending the stay of proceedings in this matter up to and including June 16, 2017.”

• OSB record of the proceeding