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Message: Re: up 29.63 % today
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up 29.63 % today
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Gramps1996
Mar 19, 2009 12:36PM
Re: up 29.63 % today

armstrong
Mar 19, 2009 01:19PM

I found this post on SH posted by rigpig99 tonight .

Email from E&Y Canada

Oilexco Incorporated has commenced proceedings under the Companies Creditors Arrangement Act (CCAA) and Ernst & Young Inc. (Canada) has been appointed the Court-appointed Monitor of the business and property of Oilexco Incorporated. The Court of Queens Bench of Alberta has extended the stay of proceedings to April 30, 2009 to allow the company to continue restructuring its business affairs.

As you've heard, Oilexco North Sea Limited (ONSL) is the UK subsidiary of Oilexco Incorporated, which is in Administration in the UK. The liquidation of the assets and business of ONSL is still in progress. Ernst & Young (UK) is the Administrator.

All of the documents pertaining to the CCAA proceeding including Court Orders and Monitor's Reports are available on our website at www.ey.com/ca/oilexco. The documents on our website will provide you with the latest information on the restructuring of the company.

Regards,

Sean MacNeil | Manager | Transaction Advisory Services

Ernst & Young Inc.

Pacific Centre, 700 West Georgia Street, P.O. Box 10101, Vancouver, BC V7Y 1C7, Canada

Office: +1 604 891 8262 | Fax: +1 604 643 5422 | Sean.MacNeil@ca.ey.com

Mobile: +1 604 417 5695 | EY/Comm: 4376226

Website: www.ey.com

Assistant: Meher Mavalvala | Phone: +1 604 891 8478 | Meher.Mavalvala@ca.ey.com



I asked many questions to which there was no response but this is what I recieved. May be of interest to new buyers today.
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