Order - Sale and Investment Solicitation Process, Administrative Consolidation, Priority Charges and Ancillary Relief

Sep 16, 2026

Court order issued by the Court of King’s Bench of Alberta (in Bankruptcy and Insolvency) in Edmonton on October 28, 2025. The order addresses administratively consolidating the applicants’ Notices of Intention to Make a Proposal, extending the time to file a proposal and the stay of proceedings, approving the attached Sale and Investment Solicitation Process (SISP), extending an administration charge to one debtor’s assets, and granting related priority and ancillary relief. It also authorizes the proposal trustee to resolve director deadlock on bid acceptance and sets service and filing procedures.

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Order (Sale and Investment Solicitation Process, Administrative Consolidation, Priority Charges and Ancillary Relief)

Administrative consolidation and procedural directions

Extension of time and stay of proceedings

SISP approval and related charges

COURT FILE NUMBER COURT JUDICIAL CENTRE DOCUMENT ADDRESS FOR SERVICE AND CONTACT INFORMATION OF PARTY FILING THIS DOCUMENT Clerks Stamp: 24-3260771 24-3280927 COURT OF KING’S BENCH OF ALBERTA IN BANKRUPTCY AND INSOLVENCY EDMONTON IN THE MATTER OF THE BANKRUPTCY AND INSOLVENCY ACT, R.S.C. 1985, C. B-3, AS AMENDED AND IN THE MATTER OF THE NOTICE OF INTENTION TO MAKE A PROPOSAL OF FORDEN ENERGY INC. AND IN THE MATTER OF THE NOTICE OF INTENTION TO MAKE A PROPOSAL OF 2150865 ALBERTA LTD. ORDER (Sale and Investment Solicitation Process, Administrative Consolidation, Priority Charges and Ancillary Relief) DLA Piper (Canada) LLP 2700, 10220-103 Ave NW Edmonton, AB T5J 0K4 Attention: Jerritt R. Pawlyk / Anthony Mersich / Isaac P. Belland Phone: 780.429.6835 [Email:](Email: jerritt.pawlyk@ca.dlapiper.com /)[ j](Email: jerritt.pawlyk@ca.dlapiper.com /)[erritt.pawlyk@ca.dlapiper.com](Email: jerritt.pawlyk@ca.dlapiper.com /)[ /](Email: jerritt.pawlyk@ca.dlapiper.com /)[ ](Email: jerritt.pawlyk@ca.dlapiper.com /)[anthony.mersich@ca.dlapiper.com](anthony.mersich@ca.dlapiper.com /)[ /](anthony.mersich@ca.dlapiper.com /)[ ](anthony.mersich@ca.dlapiper.com /)[isaac.belland@ca.dlapiper.com](isaac.belland@ca.dlapiper.com) [File No.118995.00001](File No.118995.00001) | DATE ON WHICH ORDER WAS PRONOUNCED: | October 28, 2025 | | --- | --- | | LOCATION WHERE ORDER WAS PRONOUNCED: | Edmonton | | NAME JUSTICE WHO MADE THIS ORDER: | L. K. Harris | UPON THE APPLICATION of Forden Energy Inc. ("Forden") and 2150865 Alberta Ltd. ("215"and together with Forden, the "Applicants") for an order, among other things: a) administratively consolidating the Notice of Intention to Make a Proposal proceedings of Forden and 215; CAN: 58836505.1 -2- b) extending the time for the Applicants to file a proposal and extending the stay of proceedings; c) approving the Sale and Investment Solicitation Process ("SISP") attached as Schedule "A" hereto; d) extending the Administration Charge granted by Order of this Court dated September 11, 2025 (the "First Extension Order") to the assets, property and undertaking of 215; e) granting a priority charge in favour of Sayer Energy Advisors (the "Sales Agent") to secure payment of the Success Fee (as defined below); f) sealing the Engagement Agreement with Sayer; g) authorizing the Proposal Trustee to resolve any deadlock between the directors of the Applicants regarding the acceptance of a bid in the SISP; and h) granting certain ancillary relief; AND UPON having reviewed the Second Affidavit of Nigel Woollam, sworn October 20, 2025 (the "Support Affidavit") and the Second Report of G. Chan & Associates [Inc. in](Inc. in) its capacity as proposal trustee (the "Proposal Trustee") of the Applicants under the Notices of Intention to Make a Proposal of the Applicants; AND UPON noting that Forden filed a Notice of Intention to Make a Proposal on August 17, 2025, and obtained the First Extension Order extending the time to file a proposal to October 31, 2025; AND UPON noting that 215 filed a Notice of Intention to Make a Proposal on October 1, 2025 (together with Forden's proceeding, the " NOI Proceedings"); AND UPON noting that the Applicants have engaged the Sales Agent pursuant to an engagement agreement dated September 17, 2025 (the " Engagement Agreement") ; AND UPON hearing the submissions of counsel for the Applicants, counsel for the Proposal Trustee, counsel for the Sales Agent, and any other counsel or other interested parties present; IT IS HEREBY ORDERED AND DECLARED THAT: 1. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Sale and Investment Solicitation Process (“SISP”) attached as Schedule “A” hereto, including the definitions set out in Sub-Schedule “A” to the SISP; CAN: 58836505.1 -3- SERVICE 2. Service of notice of this Application and supporting materials is hereby declared to be good and

FAQs

What proceedings does the order administratively consolidate?

The order administratively consolidates the Notices of Intention to Make a Proposal proceedings of Forden Energy Inc. and 2150865 Alberta Ltd. for procedural purposes only, without consolidating assets and liabilities.

What deadlines are extended in the order?

The order extends the time for both applicants to file a proposal to 11:59 p.m. (Mountain Time) on December 15, 2025 and extends the general stay of proceedings to the same date and time.

What is approved regarding the sale process?

The order approves the Sale and Investment Solicitation Process (SISP) attached as Schedule A and authorizes the applicants and proposal trustee to implement the SISP according to its terms, subject to any permitted amendments.

Sep 16, 2026

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