Highwood Asset Management Ltd.

Highwood Oil Company Ltd., is pleased to announce that it has entered into an agreement with an arm's-length Alberta based, private oil and gas exploration and production company to divest of the Company's Red Earth field for a total transaction value of $2 million cash, prior to customary closing adjustments . As part of the Divestiture, the purchaser paid a $200,000 non-refundable deposit into trust to be applied [...]

Nov. 2, 2020 /CNW/ - Highwood Oil Company Ltd. announces amendments to the Company's reserve-based credit facility . Credit Facility Amendment The Company's Credit Facility has been amended with the maturity date of Term Facility A extended to December 15, 2020. The Company will also continue to work with its lender to explore all options needed to satisfy the conditions of the Credit Facility. Warnings Neither the TSX [...]

Highwood Oil Company Ltd. today announces that its Board of Directors has initiated a process to identify, examine and consider strategic and financial alternatives available to the Company with the ultimate view of enhancing shareholder value. Strategic Review Strategic and financial alternatives may include, but are not limited to, the sale of the Company, investment in, merger or other business combination [...]

Highwood Oil Company Ltd. announces amendments to the Company's reserve-based credit facility . Credit Facility Amendment The Company's Credit Facility has been amended with the maturity date of Term Facility A extended to November 30, 2020. Should oil pricing improve the Company would aim to extend the revolving periods prior to the next renewal date. The Company will also continue to work with its lender to explore all [...]

Highwood Oil Company Ltd., is pleased to announce financial and operating results for the quarter ended June 30, 2020. The Company also announces that its unaudited financial statements and associated Management's Discussion and Analysis for the quarter ended June 30, 2020, can be found at www.sedar.com and www.highwoodoil.com. Highlights Production of 870 bbl/d of oil in the second quarter of 2020, a 54% decrease from [...]

Highwood Oil Company Ltd. announces revisions to the Company's reserve-based credit facility . Credit Facility Redetermination The Company, together with its sole lender, has completed the redetermination of its Credit Facility. The Company's Credit Facility has been confirmed at $38 million, with the earliest revolving period extended to September 30, 2020 and the term period amended to May 30, 2021. Should oil pricing [...]

Highwood Oil Company Ltd. announces that the Red Earth Divestiture initially announced February 18, 2020 has been terminated. Highwood received notice on May 1, 2020 from the Alberta Energy Regulator that the Red Earth license transfer application had been rejected. The AER had previously provided their conditional approval of the license transfers on April 24, 2020. Operational Update After spending $4.1 million in Q1 [...]

Highwood Oil Company Ltd., is pleased to announce financial and operating results for the quarter ended March 31, 2020. The Company also announces that its unaudited financial statements and associated Management's Discussion and Analysis for the quarter ended March 31, 2020, can be found at www.sedar.com and www.highwoodoil.com. Highlights Achieved record production of 1,872 bbl/d of oil in the first quarter of 2020, a [...]

Highwood Oil Company Ltd. received notice today from the Alberta Energy Regulator that the Red Earth license transfer application has been rejected. The AER had provided their conditional approval of the license transfers on April 24, 2020. The Company is working through the impact of this decision by the AER on the Red Earth Sale Agreement and will provide an update when one is available. Warnings Neither the TSX Venture [...]

Highwood Oil Company Ltd., is pleased to announce financial and operating results for the three months and twelve months ended December 31, 2019 and to provide the results of its independent oil and gas reserves evaluation as of December 31, 2019, prepared by GLJ Petroleum Consultants Ltd. . Associated Management's Discussion and Analysis dated April 28, 2020 and audited financial statements as at and for the year ended [...]