Access to the RBC Rundle VIRTUAL DATA ROOM requires registration by execution of a project confidentiality agreement. To register please contact Jill Switzer: 403 299 8446
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Echoex Ltd. |
Bids Due: May 12, 2011 |
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Contact: 403-299-8453
403-299-8456 |
Introduction Letter | Foreword & Disclaimer | Corporate Overview Redwater:
Overview |
Development Potential |
Westlock Overview |
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INTRODUCTION LETTER
April 8, 2011
Dear Sirs:
RE: ECHOEX LTD. – 2011 CORPORATE SALE
Echoex Ltd. (“Echoex” or the “Company”) has retained RBC Rundle as the exclusive agent for the sale of the Company. Echoex is a private, tightly held corporation with oil and gas operations located primarily in Alberta. This letter outlines the sale process.
Access to Confidential Information
Interested parties may access confidential data for the Company by executing two original Confidentiality Agreements (“CA”) in the form provided and attached hereto. The CA is also available for download on the RBC Rundle website. Emailed and/or faxed executed CA’s will be accepted however, RBC Rundle requires two executed copies to immediately follow.
RBC Rundle will issue access to a secure Virtual Data Room (“VDR”) after receipt of an executed CA to approved parties. The VDR will include, among other things; corporate information, an engineering evaluation, land schedules, accounting reports and additional key data and data updates. Potential purchasers may book time in a Physical Data Room at RBC Rundle’s offices to view well files, prospect files and other relevant data. To book time in the Data Room or for questions regarding the CA, please contact the undersigned.
Please note that CA’s executed on behalf of unidentified parties will not be accepted.
CA’s should be addressed to:
Echoex Ltd.
c/o RBC Rundle
Suite 3900 Bankers Hall West
888 – 3rd Street SW
Calgary, Alberta T2P 3N3
Attention: Mr. Tom Caldwell
Timing of Offers
Echoex has allowed approximately four weeks for the evaluation of the Company. Offers for the Company shall be submitted no later than 12:00 noon, MST, May 12, 2011. The proposed effective date of the sale is April 1, 2011. A minimum of three weeks should be available to Echoex before expiry of the Offer to allow Echoex reasonable time to respond to the Offer.
Nature and Form of Offer
Echoex will not entertain Offers for specific wells or leases within the Company. Echoex’s strong preference is cash compensation for the sale of the shares of the Company. Other forms of compensation will be considered on a circumstantial basis.
No bid form is supplied nor required. The Offer shall be non-binding. Notwithstanding other relevant issues, the Offer shall contain the following minimum information:
1) Offer price;
2) Effective date;
3) Source of financing, financing conditions;
4) Environmental conditions;
5) Requirements for approval of Management, Board of Directors, or other
parties; and
6) Expected timing to remove Offer conditions and execute Purchase and
Sale Agreement.
Offer Selection Process
If required, and at the discretion of Echoex, bidders may be asked to provide clarifications or additional information to support their Offer. Furthermore, bidders may be asked to participate in an additional round of bidding. Offers for consideration are selected at the discretion of Echoex.
Other Issues
This sale process carries no implicit promise to accept the highest Offer, or any Offer at all.
Echoex and RBC Rundle do not make, and expressly disclaim, any representation or warranty (written or oral) as to the accuracy, or completeness of the information herein (or subsequently provided) and none shall be implied. Only those representations and warranties made in a fully executed Purchase and Sale Agreement shall be binding on Echoex. Each potential purchaser must rely on their own investigation in order to satisfy themselves as to all matters, except to the extent expressly agreed to in the Purchase and Sale Agreement to be entered into between Echoex and the successful purchaser. All costs incurred by the potential purchaser in this investigation and evaluation shall be for their own account.
Echoex reserves the right to amend or modify these procedures, terms and conditions at any time.
Inquiries and Correspondence
The Company personnel are not to be contacted directly. All correspondence and inquiries should be directed to RBC Rundle.
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Contacts: Tom Caldwell 403.299.8453 tom.r.caldwell@rbccm.com |
RBC Capital Markets Contact:
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| Warren Orban 403.299.8456 warren.orban@rbccm.com |
We look forward to pursuing this opportunity with you.
Yours truly,
RBC RUNDLE
Tom Caldwell
Managing Director