Cuda Oil and Gas Inc. Announces Appointment of Receiver, Resignation of Directors and Officers
Calgary, Alberta--(Newsfile Corp. - November 18, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces that the Court of Queens Bench of Alberta has granted the application from the Company's senior and subordinate secured lenders, to appoint FTI Consulting Canada Inc. (the "Receiver") as receiver and manager over the assets, undertakings and property of Cuda and its subsidiaries. Cuda had previously announced on November 5, 2021, the Company had been served demand letters by...
2021-11-18 3:23 PM EST
Cuda Oil and Gas Inc. Announces Resignation of Board Members
Calgary, Alberta--(Newsfile Corp. - November 11, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces that Mr. Bruce Lawrence, Mr. Jean-Yves Lavoie, and Ms. Guylaine Saucier have resigned as members of the Board of Directors effective immediately. Mr. Lawrence was appointed as a Director in 2018 and serves as a member of the Company's audit committee. Mr. Lawrence currently serves as a partner at Borden Ladner Gervais. Mr. Lavoie was appointed as a Director...
2021-11-11 11:20 AM EST
Cuda Oil and Gas Inc. Announces Demand by Secured Lenders and Notice of Intention to Enforce Security
Calgary, Alberta--(Newsfile Corp. - November 5, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces that the Company's senior secured lender, Tallinn Capital Energy Limited Partnership, and its subordinate secured lender, being certain funds managed or co-managed by Bridging Finance Inc., have each made demand for payment in full of the Company's outstanding indebtedness and provided the Company with a Notice of Intention to Enforce Security pursuant to section 244 of the Bankruptcy and Insolvency...
2021-11-05 8:30 AM EDT
Cuda Announces Termination of Agreement to Sell Alberta Assets
Calgary, Alberta--(Newsfile Corp. - September 30, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") previously announced that it had entered into a Share Purchase Agreement ("Agreement") to sell all of the shares of Cuda Energy Inc., a wholly-owned subsidiary of the Company that holds its Alberta assets, to an arm's length private company ("Purchaser") with a targeted closing date of September 30, 2021. Cuda and the Purchaser have mutually agreed to terminate the Agreement, as...
2021-09-30 7:00 PM EDT
Cuda Oil and Gas Inc. Announces Agreement to Sell Alberta Assets for $2.67 Million
Calgary, Alberta--(Newsfile Corp. - September 16, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces that it has entered into a Share Purchase Agreement ("Agreement") to sell all of the shares of Cuda Energy Inc., a wholly-owned subsidiary of the Company that holds its Alberta assets, to an arm's length private company (the "Purchaser"). The Purchaser has agreed to pay total cash consideration of $2.67 million, subject to certain adjustments, and has provided a deposit...
2021-09-16 7:00 PM EDT
Cuda Oil and Gas Inc. Announces an Increase in Proved, Developed and Producing Reserves at June 30, 2021 and Operations Highlights
Calgary, Alberta--(Newsfile Corp. - September 8, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to release the results of its June 30th, 2021 Oil and Gas Reserves Evaluation ("2021 Mid-Year Reserves Report") for Wyoming and Alberta. Cuda continues to advance its major asset at Barron Flats Shannon Secondary Recovery Unit ("SSRU") in the Powder River Basin of Wyoming.In the 2021 Mid-Year Reserves Report, Ryder Scott has identified increases to the Company's estimated Proven...
2021-09-08 8:21 PM EDT
Cuda Oil and Gas Inc. Announces Amendment to Unsecured Convertible Debenture
Calgary, Alberta--(Newsfile Corp. - September 1, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces that it has agreed to certain amendments to the conversion terms of its Series C Convertible Debenture (the "Convertible Debenture") in order to comply with requirements of the TSX Venture Exchange. The Convertible Debenture is an unsecured convertible debenture in the principal amount of $1,589,753 that bears interest at a rate of 15% per annum and has a maturity date...
2021-09-01 7:00 PM EDT
Cuda Oil and Gas Inc. Announces Second Quarter Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - August 30, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces its financial and operating results for the three and six months ended June 30, 2021. Cuda's unaudited interim condensed consolidated financial statements and related management's discussion and analysis ("MD&A") as at and for the periods ended June 30, 2021 and 2020, are available under the Company's profile on the SEDAR website at www.sedar.com. Selected financial and operating information for the...
2021-08-30 7:00 PM EDT
Cuda Oil and Gas Inc. Announces Additional $4 Million Financing from Senior Lender
Calgary, Alberta--(Newsfile Corp. - August 7, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to announce an additional $4.0 million of financing ("Credit Facility B") from its Senior Lender, Tallinn Capital Energy Limited Partnership ("Tallinn"), under the Senior Credit Facility agreement signed on January 20, 2021. The additional proceeds will be used for the payment of account payables relating to, and continued development of, its oil assets and miscible gas flood injection program...
2021-08-07 2:38 PM EDT
Cuda Oil and Gas Inc. Announces First Quarter Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - May 28, 2021) - Cuda Oil and Gas Inc. ("Cuda" or the "Company") (TSXV: CUDA) announces its financial and operational results for the first quarter ended March 31, 2021. Cuda's unaudited interim condensed consolidated financial statements and management's discussion and analysis ("MD&A") as at and for the three months ended March 31, 2021 and 2020, are available under the Company's profile on the SEDAR website at www.sedar.com.Significant First Quarter HighlightsThe Company's operating netback significantly improved in...
2021-05-28 9:00 PM EDT
Cuda Oil and Gas Inc. Announces December 31, 2020 Year-End Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - May 4, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces its financial and operational results for the year ended December 31, 2020. Cuda's audited consolidated financial statements, and management's discussion and analysis for the year ended December 31, 2020 and 2019 are available under the Company's profile on the SEDAR website at www.sedar.com.Significant 2020 Highlights2020 proved to be another year of significant growth and change for the Company. Production in...
2021-05-04 5:46 PM EDT
Cuda Oil and Gas Inc. Reports an Increase in Proved, Developed and Producing Oil and Liquid Reserves and Achieves 1 BCF of Gas Injected into the Shannon Oil Pool
Calgary, Alberta--(Newsfile Corp. - April 20, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to release the results of its December 31st, 2020 Oil and Gas Reserves Evaluation ("2020 Reserves Report") for Wyoming and Alberta. Cuda recorded significant progress in maturing its major asset at Barron Flats Shannon Secondary Recovery Unit ("SSRU") in the Powder River Basin of Wyoming. In the 2020 Reserves Report, Ryder Scott has identified significant increases to the Company's...
2021-04-20 8:00 PM EDT
Cuda Oil and Gas Inc. Closes Share Issuance in Connection with Debt Restructuring
Calgary, Alberta--(Newsfile Corp. - February 23, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to announce that it has completed the previously announced issuance of 9.1 million common shares to its lender in accordance with the terms of the restructuring of the Company's indebtedness that was announced on January 26, 2021. Pursuant to the terms of the amendment and extension of the Company's credit facilities with its existing lender (the "Existing Lender")...
2021-02-23 5:07 PM EST
Cuda Oil and Gas Inc. Announces a Material Improvement to its Liquidity Position with the Successful Amendments to its Indebtedness and the Establishment of a New Senior Credit Facility
$48 million Existing Demand Facilities Amended and Maturity Dates Extended;$ 9 million New Demand Facility Established; $ 1.5 million Convertible Debentures Amended and Maturity Date Extended.Calgary, Alberta--(Newsfile Corp. - January 26, 2021) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") is pleased to announce a major restructuring of its indebtedness including the establishment of a new senior $ 9 million credit facility ("New Facility"). Proceeds will be used for the continued development of its assets in...
2021-01-26 6:00 AM EST
Cuda Oil and Gas Inc. Announces Third Quarter Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - November 23, 2020) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces its financial and operating results for the three and nine months ended September 30, 2020. Cuda's unaudited interim condensed consolidated financial statements and related management's discussion and analysis ("MD&A") as at and for the periods ended September 30, 2020 and 2019, are available under the Company's profile on the SEDAR website at www.sedar.com. Selected financial and operating information for the...
2020-11-23 8:27 PM EST
Cuda Oil and Gas Inc. Announces Second Quarter Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - September 1, 2020) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces its financial and operating results for the three and six months ended June 30, 2020. Cuda's unaudited interim condensed consolidated financial statements and related management's discussion and analysis ("MD&A") as at and for the periods ended June 30, 2020 and June 2019, are available under the Company's profile on the SEDAR website at www.sedar.com. Selected financial and operating information...
2020-09-01 7:00 AM EDT
Cuda Oil and Gas Inc. Announces First Quarter Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - July 19, 2020) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces its financial and operational results for the first quarter ended March 31, 2020. Cuda's unaudited interim condensed consolidated financial statements, and management's discussion and analysis for the three months ended March 31, 2020 and 2019 are available under the Company's profile on the SEDAR website at www.sedar.com.Significant First Quarter HighlightsThe Company completed the 15 well drilling program in the...
2020-07-19 8:38 PM EDT
Cuda Pétrole et Gaz Inc: Cuda Pétrole et Gaz Inc. annonce ses résultats financiers et d'opérations de fin d'année
Calgary, Alberta --(Newsfile Corp. -le 9 juillet 2020)- Cuda Oil and Gas Inc. (TSXV: CUDA) (« Cuda » ou la « société ») annonce ses résultats financiers et opérationnels pour l'exercice se terminant le 31 décembre 2019. Les états financiers consolidés et vérifiés de Cuda ainsi que le rapport de gestion pour l'exercice se terminant le 31 décembre 2019 et 2018 sont disponibles dans la rubrique profil de la société sur le site internet de SEDAR, au www.sedar.com.Faits marquants en 20182019 s'est...
2020-07-09 1:24 PM EDT
Cuda Oil and Gas Inc. Announces Year End Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - July 6, 2020) - Cuda Oil and Gas Inc. (TSXV: CUDA) ("Cuda" or the "Company") announces its financial and operational results for the year ended December 31, 2019. Cuda's audited consolidated financial statements, and management's discussion and analysis for the year ended December 31, 2019 and 2018 are available under the Company's profile on the SEDAR website at www.sedar.com.Significant 2019 Highlights2019 proved to be another year of significant growth and change for the Company. 43% increase...
2020-07-06 8:59 AM EDT
Cuda Oil and Gas Inc. fournis une mise à jour concernant l'ordonnance IOLD et les dépôts des états financiers
Calgary, Alberta--(Newsfile Corp. - 29 juin 2020) - Cuda Pétroles et Gaz Inc. (TSXV: CUDA) («Cuda» ou la «Société») fournis une mise à jour concernant l'ordonnance d'interdiction d'opérations limitée aux dirigeants annoncée précédemment («IOLD») et émise par le principal organisme de réglementation de la Société, l'Autorité des marchés financiers, le 12 juin 2020. L'ordonnance IOLD a été émise dans le cadre du dépôt tardif des États Financiers Annuels de la société pour l'exercice clos le 31 décembre 2019 et des...
2020-06-29 6:00 PM EDT