JED Oil Inc. Announces Court Adjournment of Filing by Creditorsadmin
Monday, August 11th 2008
JED Oil Inc. announces that on August 8, 2008 the Court of Queen’s Bench of Alberta, Judicial District of Calgary, granted an adjournment of the hearing on the previously announced application by a group of the Company’s trade creditors requesting an Order declaring that the Company and its wholly-owned subsidiary, JED Production Inc., be placed under the creditor protection terms of the Companies’ Creditors Arrangement Act (Canada) (the “CCAA”). The hearing was rescheduled for Wednesday, August 13, 2008 and in the meantime the Court ordered all actions and creditor remedies against JED are stayed, with the exception that the holders of the Company’s convertible notes may bring an opposing application for appointment of a receiver of JED.
Established in September 2003, JED Oil Inc. is an oil and natural gas company that commenced operations in the second quarter of 2004 and develops and operates oil and natural gas properties in western Canada and the Rocky Mountain states in the United States.