Offering Details
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Current Offerings / Harvest Operations Corp.
Harvest Operations Corp.
Property DivestitureBid Deadline: October 1, 2026
12:00 PM
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OVERVIEW
Harvest Operations Corp. (“Harvest” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of Harvest’s conventional oil and natural gas properties (the “Properties”) located in Alberta and British Columbia.
The Properties consist of operated and non-operated working interests which are located throughout Alberta and British Columbia. For marketing purposes, the Properties are separated into the following geographical packages: BC, East AB and Rocky Mountain House (“RMH”). RMH is further divided into RMH East, and RMH West. RMH West shall only be included if an offer includes all of the Properties. Harvest’s preference is to dispose of all of the Properties in a single disposition.
Average production net to Harvest from the Properties for the 4 months ended April 30, 2026 was approximately 6,450 boe/d, consisting of 14.4 MMcf/d of natural gas and 4,058 barrels of oil and natural gas liquids per day.
As of August 1, 2026, the Properties had a deemed liability value of $237.1 million.
Further details relating to the Properties will be available in the virtual data room for parties that execute a confidentiality agreement.
The Properties consist of operated and non-operated working interests which are located throughout Alberta and British Columbia. For marketing purposes, the Properties are separated into the following geographical packages: BC, East AB and Rocky Mountain House (“RMH”). RMH is further divided into RMH East, and RMH West. RMH West shall only be included if an offer includes all of the Properties. Harvest’s preference is to dispose of all of the Properties in a single disposition.
Average production net to Harvest from the Properties for the 4 months ended April 30, 2026 was approximately 6,450 boe/d, consisting of 14.4 MMcf/d of natural gas and 4,058 barrels of oil and natural gas liquids per day.
As of August 1, 2026, the Properties had a deemed liability value of $237.1 million.
Further details relating to the Properties will be available in the virtual data room for parties that execute a confidentiality agreement.
Overview Map Showing the Location of the Divestiture Properties
Production Overview
Average production net to Harvest from the Properties for the 4 months ended April 30, 2026 was approximately 6,450 boe/d, consisting of 14.4 MMcf/d of natural gas and 4,058 barrels of oil and natural gas liquids per day.
Average production net to Harvest from the Properties for the 4 months ended April 30, 2026 was approximately 6,450 boe/d, consisting of 14.4 MMcf/d of natural gas and 4,058 barrels of oil and natural gas liquids per day.
Gross Production Group Plot of Harvest's Wells
Liabiity Assessment Overview
As of August 1, 2026, the Properties had a total deemed liability value of $237.1 million.
Alberta
As of August 1, 2026, the Alberta properties had a deemed liability value of $177.2 million.
British Columbia
As of August 1, 2026, the British Columbia properties had a deemed liability value of $59.9 million.
Facilities Overview
Harvest holds various working interests in facilities associated with the Properties. Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
Marketing Overview
Harvest holds various marketing and transportation contracts relating to natural gas, crude oil and natural gas liquids production associated with the Properties.
Summary information and details on Harvest’s marketing and transportation contracts are available in the virtual data room for parties that execute a confidentiality agreement.
Seismic Overview
The Company owns wide-ranging 2D and 3D seismic data associated with the Properties. Further details will be available in the virtual data room for parties that execute a confidentiality agreement.
Reserves Overview
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Properties contained remaining proved plus probable reserves of 152.4 Bcf of natural gas and 29.1 million barrels of oil and natural gas liquids (54.5 million boe), with an estimated net present value of approximately $148.7 million using forecast pricing at a 10% discount.
As of August 1, 2026, the Properties had a total deemed liability value of $237.1 million.
Alberta
As of August 1, 2026, the Alberta properties had a deemed liability value of $177.2 million.
British Columbia
As of August 1, 2026, the British Columbia properties had a deemed liability value of $59.9 million.
Facilities Overview
Harvest holds various working interests in facilities associated with the Properties. Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
Marketing Overview
Harvest holds various marketing and transportation contracts relating to natural gas, crude oil and natural gas liquids production associated with the Properties.
Summary information and details on Harvest’s marketing and transportation contracts are available in the virtual data room for parties that execute a confidentiality agreement.
Seismic Overview
The Company owns wide-ranging 2D and 3D seismic data associated with the Properties. Further details will be available in the virtual data room for parties that execute a confidentiality agreement.
Reserves Overview
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Properties contained remaining proved plus probable reserves of 152.4 Bcf of natural gas and 29.1 million barrels of oil and natural gas liquids (54.5 million boe), with an estimated net present value of approximately $148.7 million using forecast pricing at a 10% discount.
BC PACKAGE
In the BC Package, Harvest has various working interests primarily in the NE BC and Hay properties. The Hay property includes interests in Alberta and BC.
Average production net to Harvest from the BC Package for the 4 months ended April 30, 2026 was 1,812 boe/d, consisting of 1,794 barrels of oil and natural gas liquids per day and 105 Mcf/d of natural gas.
Operating income net to Harvest from the BC Package for the 4 months ended April 30, 2026 was approximately $1.1 million per month.
Operating income net to Harvest from the BC Package for the 4 months ended April 30, 2026 was approximately $1.1 million per month.
BC Package
Gross Production Group Plot of Harvest's Wells
BC Package Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the BC package contained remaining proved plus probable reserves of 13.4 Bcf of natural gas and 9.3 million barrels of oil and natural gas liquids (11.5 million boe), with an estimated net present value of approximately ($325,000) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the BC package contained remaining proved plus probable reserves of 13.4 Bcf of natural gas and 9.3 million barrels of oil and natural gas liquids (11.5 million boe), with an estimated net present value of approximately ($325,000) using forecast pricing at a 10% discount.
BC Package Liability Assessment
As of August 1, 2026, the BC Package had a deemed liability value of $59.9 million.
As of August 1, 2026, the BC Package had a deemed liability value of $59.9 million.
NE BC
NTS 93-I - 94-O
At NE BC, Harvest holds various operated and non-operated working interests with oil and natural gas production primarily from the Baldonnel, Bluesky-Gething, Cadomin, Charlie Lake, Halfway, Jean Marie and Slave Point formations.
At NE BC, Harvest holds various operated and non-operated working interests with oil and natural gas production primarily from the Baldonnel, Bluesky-Gething, Cadomin, Charlie Lake, Halfway, Jean Marie and Slave Point formations.
NE BC Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the NE BC property had no reserves assigned with an estimated net present value of approximately ($21.5 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the NE BC property had no reserves assigned with an estimated net present value of approximately ($21.5 million) using forecast pricing at a 10% discount.
NE BC Liability Assessment
As of August 1, 2026, the NE BC property had a deemed liability value of $5.2 million.
NE BC Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the NE BC property had a deemed liability value of $5.2 million.
NE BC Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
HAY, BC
Township 107, Range 10-12 W6 - NTS 094-I
At Hay, Harvest holds 100% working interests with oil and natural gas production from the Hay River Bluesky A Pool.
The Hay property includes assets in Alberta and BC.
The Company has identified many future development opportunities focused on the Bluesky Formation at Hay.
At Hay, Harvest holds 100% working interests with oil and natural gas production from the Hay River Bluesky A Pool.
The Hay property includes assets in Alberta and BC.
The Company has identified many future development opportunities focused on the Bluesky Formation at Hay.
Hay Upside
Bluesky Formation
At Hay, Harvest has identified expansive original oil in place in the Bluesky Formation exceeding 250 MMbbl across the BC and Alberta border. The Company’s lands are primarily situated on the BC side with the majority of acreage held indefinitely by a pressure maintenance scheme.
The Lower Cretaceous Bluesky Formation at Hay is comprised of sand reservoirs with 24° API oil found at depths of approximately 325 metres. Water and natural gas is re-injected back into the pool. The active waterflood drives stable, predictable low decline base production.
No development drilling has been done at Hay since 2017 but future development is focused on infill drilling and expanding the productive area and step-out drilling. Many multi-leg horizontal development drilling locations have been identified on the property.
Hay Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Hay property contained remaining proved plus probable reserves of 13.4 Bcf of natural gas and 9.3 million barrels of oil and natural gas liquids (11.5 million boe), with an estimated net present value of approximately $21.2 million using forecast pricing at a 10% discount.
Bluesky Formation
At Hay, Harvest has identified expansive original oil in place in the Bluesky Formation exceeding 250 MMbbl across the BC and Alberta border. The Company’s lands are primarily situated on the BC side with the majority of acreage held indefinitely by a pressure maintenance scheme.
The Lower Cretaceous Bluesky Formation at Hay is comprised of sand reservoirs with 24° API oil found at depths of approximately 325 metres. Water and natural gas is re-injected back into the pool. The active waterflood drives stable, predictable low decline base production.
No development drilling has been done at Hay since 2017 but future development is focused on infill drilling and expanding the productive area and step-out drilling. Many multi-leg horizontal development drilling locations have been identified on the property.
Hay Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Hay property contained remaining proved plus probable reserves of 13.4 Bcf of natural gas and 9.3 million barrels of oil and natural gas liquids (11.5 million boe), with an estimated net present value of approximately $21.2 million using forecast pricing at a 10% discount.
Hay Liability Assessment
As of August 1, 2026, the Hay property had a deemed liability value of $54.7 million consisting of $54.1 million in BC and $0.6 million in Alberta.
Hay Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Hay property had a deemed liability value of $54.7 million consisting of $54.1 million in BC and $0.6 million in Alberta.
Hay Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
RMH WEST PACKAGE
In the RMH West Package, Harvest has various operated and non-operated working interests located in the Ferrier Op, Ferrier NOP and Willesden Green properties. RMH West shall only be included if an offer includes all of the Properties.
The Company has identified upside opportunity in the Glauconitic Sandstone at Willesden Green, Ferrier OP and Ferrier NOP with a large number drilling locations as well as Cardium drilling locations at Ferrier and Willesden Green.
The Company has identified upside opportunity in the Glauconitic Sandstone at Willesden Green, Ferrier OP and Ferrier NOP with a large number drilling locations as well as Cardium drilling locations at Ferrier and Willesden Green.
Average production net to Harvest from the RMH West Package for the 4 months ended April 30, 2026 was 1,432 boe/d, consisting of 5.7 MMcf/d of natural gas and 489 barrels of oil and natural gas liquids per day.
Operating income net to Harvest from the RMH West Package for the 4 months ended April 30, 2026 was approximately $834,000 per month.
Operating income net to Harvest from the RMH West Package for the 4 months ended April 30, 2026 was approximately $834,000 per month.
RMH West Package
Gross Production Group Plot of Harvest's Wells
RMH West Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the RMH West package contained remaining proved plus probable reserves of 108.3 Bcf of natural gas and 15.2 million barrels of oil and natural gas liquids (33.2 million boe), with an estimated net present value of approximately $219.1 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the RMH West package contained remaining proved plus probable reserves of 108.3 Bcf of natural gas and 15.2 million barrels of oil and natural gas liquids (33.2 million boe), with an estimated net present value of approximately $219.1 million using forecast pricing at a 10% discount.
RMH West Package Liability Assessment
As of August 1, 2026, the RMH West Package had a deemed liability value of $20.6 million.
As of August 1, 2026, the RMH West Package had a deemed liability value of $20.6 million.
FERRIER OP
Township 31-44, Range 8 W5 - 3 W6
At Ferrier OP, Harvest holds various operated working interests in oil and natural gas wells producing from various formations, most notably the Cardium.
At Ferrier OP, Harvest holds various operated working interests in oil and natural gas wells producing from various formations, most notably the Cardium.
Ferrier OP Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Ferrier Op property contained remaining proved plus probable reserves of 17.8 Bcf of natural gas and 2.0 million barrels of oil and natural gas liquids (5.0 million boe), with an estimated net present value of approximately $49.0 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Ferrier Op property contained remaining proved plus probable reserves of 17.8 Bcf of natural gas and 2.0 million barrels of oil and natural gas liquids (5.0 million boe), with an estimated net present value of approximately $49.0 million using forecast pricing at a 10% discount.
Ferrier OP Liability Assessment
As of August 1, 2026, the Ferrier OP property had a deemed liability value of $3.4 million.
As of August 1, 2026, the Ferrier OP property had a deemed liability value of $3.4 million.
FERRIER NOP (Non-Op)
Township 31-44, Range 8 W5 - 3 W6
At Ferrier Non-Op, Harvest holds various non-operated working interests with oil and natural gas production from various formations including the Belly River, Cardium and Mannville formations.
At Ferrier Non-Op, Harvest holds various non-operated working interests with oil and natural gas production from various formations including the Belly River, Cardium and Mannville formations.
Ferrier Non-Op Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Ferrier Non-Op property contained remaining proved plus probable reserves of 11.0 Bcf of natural gas and 1.1 million barrels of natural gas liquids (2.9 million boe), with an estimated net present value of approximately $18.7 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Ferrier Non-Op property contained remaining proved plus probable reserves of 11.0 Bcf of natural gas and 1.1 million barrels of natural gas liquids (2.9 million boe), with an estimated net present value of approximately $18.7 million using forecast pricing at a 10% discount.
Ferrier Non-Op Liability Assessment
As of August 1, 2026, the Ferrier Non-Op property had a deemed liability value of $224,742.
Ferrier Non-Op Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Ferrier Non-Op property had a deemed liability value of $224,742.
Ferrier Non-Op Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
WILLESDEN GREEN
Township 37-41, Range 4-7 W5
At Willesden Green, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Cardium, Edmonton, Glauconitic Sandstone, Horseshoe Canyon and Viking formations.
Historical negative operating income numbers net to Harvest associated with the Kakwa property were due to a take-or-pay contract which has now been disclaimed. With this change, Harvest is projecting an increase of approximately $600,000 per month, or $7.2 million on an annualized basis.
At Willesden Green, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Cardium, Edmonton, Glauconitic Sandstone, Horseshoe Canyon and Viking formations.
Historical negative operating income numbers net to Harvest associated with the Kakwa property were due to a take-or-pay contract which has now been disclaimed. With this change, Harvest is projecting an increase of approximately $600,000 per month, or $7.2 million on an annualized basis.
Willesden Green Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Willesden Green property contained remaining proved plus probable reserves of 79.5 Bcf of natural gas and 12.1 million barrels of oil and natural gas liquids (25.4 million boe), with an estimated net present value of approximately $151.3 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Willesden Green property contained remaining proved plus probable reserves of 79.5 Bcf of natural gas and 12.1 million barrels of oil and natural gas liquids (25.4 million boe), with an estimated net present value of approximately $151.3 million using forecast pricing at a 10% discount.
Willesden Green Liability Assessment
As of August 1, 2026, the Willesden Green property had a deemed liability value of $17.0 million.
Willesden Green Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Willesden Green property had a deemed liability value of $17.0 million.
Willesden Green Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
RMH EAST PACKAGE
In the RMH East Package, Harvest has various operated and non-operated working interests located in the Caroline, Chedderville, Crossfield, Innisfail, Markerville, Sylvan Lake and Wilson Creek (Unit) properties.
The natural gas-weighted production from the RMH East package has high associated liquids content.
The Company has identified Cardium drilling locations in Crossfield, Chedderville and Wilson Creek.
The natural gas-weighted production from the RMH East package has high associated liquids content.
The Company has identified Cardium drilling locations in Crossfield, Chedderville and Wilson Creek.
Average production net to Harvest from the RMH East Package for the 4 months ended April 30, 2026 was 2,130 boe/d, consisting of 8.3 MMcf/d of natural gas and 753 barrels of oil and natural gas liquids per day.
Operating income net to Harvest from the RMH East Package for the 4 months ended April 30, 2026 was approximately $9,300 per month.
Operating income net to Harvest from the RMH East Package for the 4 months ended April 30, 2026 was approximately $9,300 per month.
RMH East Package
Gross Production Group Plot of Harvest's Wells
RMH East Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the RMH East package contained remaining proved plus probable reserves of 30.0 Bcf of natural gas and 2.4 million barrels of oil and natural gas liquids (7.4 million boe), with an estimated net present value of approximately $17.7 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the RMH East package contained remaining proved plus probable reserves of 30.0 Bcf of natural gas and 2.4 million barrels of oil and natural gas liquids (7.4 million boe), with an estimated net present value of approximately $17.7 million using forecast pricing at a 10% discount.
RMH East Package Liability Assessment
As of August 1, 2026, the RMH East Package had a deemed liability value of $46.3 million.
As of August 1, 2026, the RMH East Package had a deemed liability value of $46.3 million.
CAROLINE
Township 31-36, Range 4-7 W5
At Caroline, Harvest holds various operated and non-operated working interests in light oil production from the Beaverhill Lake, Cardium and Swan Hills formations.
At Caroline, Harvest holds various operated and non-operated working interests in light oil production from the Beaverhill Lake, Cardium and Swan Hills formations.
Caroline Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Caroline property contained remaining proved plus probable reserves of 3.8 Bcf of natural gas and 849,000 barrels of natural gas liquids (1.4 million boe), with an estimated net present value of approximately $14.7 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Caroline property contained remaining proved plus probable reserves of 3.8 Bcf of natural gas and 849,000 barrels of natural gas liquids (1.4 million boe), with an estimated net present value of approximately $14.7 million using forecast pricing at a 10% discount.
Caroline Liability Assessment
As of August 1, 2026, the Caroline property had a deemed liability value of $1.7 million.
Caroline Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Caroline property had a deemed liability value of $1.7 million.
Caroline Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
CHEDDERVILLE
Township 37-38, Range 5-7 W5
At Chedderville, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Cardium, Ellerslie, Viking and Rock Creek formations.
At Chedderville, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Cardium, Ellerslie, Viking and Rock Creek formations.
Chedderville Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Chedderville property contained remaining proved plus probable reserves of 1.2 Bcf of natural gas and 64,000 barrels of oil and natural gas liquids (266,000 boe), with an estimated net present value of approximately ($429,000) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Chedderville property contained remaining proved plus probable reserves of 1.2 Bcf of natural gas and 64,000 barrels of oil and natural gas liquids (266,000 boe), with an estimated net present value of approximately ($429,000) using forecast pricing at a 10% discount.
Chedderville Liability Assessment
As of August 1, 2026, the Chedderville property had a deemed liability value of $769,777.
Chedderville Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Chedderville property had a deemed liability value of $769,777.
Chedderville Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
CROSSFIELD
Township 18-32, Range 26 W4 - 6 W5
At Crossfield, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Basal Quartz, Cardium, Ellerslie and Pekisko formations.
At Crossfield, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Basal Quartz, Cardium, Ellerslie and Pekisko formations.
Crossfield Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Crossfield property contained remaining proved plus probable reserves of 9.5 Bcf of natural gas and 279,000 barrels of oil and natural gas liquids (1.9 million boe), with an estimated net present value of approximately ($208,000) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Crossfield property contained remaining proved plus probable reserves of 9.5 Bcf of natural gas and 279,000 barrels of oil and natural gas liquids (1.9 million boe), with an estimated net present value of approximately ($208,000) using forecast pricing at a 10% discount.
Crossfield Liability Assessment
As of August 1, 2026, the Crossfield property had a deemed liability value of $7.1 million.
Crossfield Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Crossfield property had a deemed liability value of $7.1 million.
Crossfield Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
INNISFAIL
Township 33-35, Range 28 W4 - 3 W5
At Innisfail, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Edmonton, Nordegg and Pekisko formations.
At Innisfail, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Edmonton, Nordegg and Pekisko formations.
Innisfail Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Innisfail property contained remaining proved plus probable reserves of 2.2 Bcf of natural gas and 117,000 barrels of natural gas liquids (490,000 boe), with an estimated net present value of approximately $587,000 using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Innisfail property contained remaining proved plus probable reserves of 2.2 Bcf of natural gas and 117,000 barrels of natural gas liquids (490,000 boe), with an estimated net present value of approximately $587,000 using forecast pricing at a 10% discount.
Innisfail Liability Assessment
As of August 1, 2026, the Innisfail property had a deemed liability value of $3.5 million.
Innisfail Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Innisfail property had a deemed liability value of $3.5 million.
Innisfail Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
MARKERVILLE
Township 35-36, Range 28 W4 - 3 W5
At Markerville, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Edmonton, Horseshoe Canyon, Mannville, Pekisko and Viking formations.
At Markerville, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Edmonton, Horseshoe Canyon, Mannville, Pekisko and Viking formations.
Markerville Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Markerville property contained remaining proved plus probable reserves of 10.4 Bcf of natural gas and 624,000 barrels of oil and natural gas liquids (2.4 million boe), with an estimated net present value of approximately $8.1 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Markerville property contained remaining proved plus probable reserves of 10.4 Bcf of natural gas and 624,000 barrels of oil and natural gas liquids (2.4 million boe), with an estimated net present value of approximately $8.1 million using forecast pricing at a 10% discount.
Markerville Liability Assessment
As of August 1, 2026, the Markerville property had a deemed liability value of $12.9 million.
Markerville Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Markerville property had a deemed liability value of $12.9 million.
Markerville Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
SYLVAN LAKE
Township 35-42, Range 28 W4 - 4 W5
At Sylvan Lake, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Edmonton, Elkton, Ellerslie, Glauconitic Sandstone, Horseshoe Canyon, Leduc, Peksiko, Shunda and Viking formations.
At Sylvan Lake, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Edmonton, Elkton, Ellerslie, Glauconitic Sandstone, Horseshoe Canyon, Leduc, Peksiko, Shunda and Viking formations.
Sylvan Lake Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Sylvan Lake property contained remaining proved plus probable reserves of 2.8 Bcf of natural gas and 248,000 barrels of oil and natural gas liquids (716,000 boe), with an estimated net present value of approximately ($11.9 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Sylvan Lake property contained remaining proved plus probable reserves of 2.8 Bcf of natural gas and 248,000 barrels of oil and natural gas liquids (716,000 boe), with an estimated net present value of approximately ($11.9 million) using forecast pricing at a 10% discount.
Sylvan Lake Liability Assessment
As of August 1, 2026, the Sylvan Lake property had a deemed liability value of $20.4 million.
Sylvan Lake Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Sylvan Lake property had a deemed liability value of $20.4 million.
Sylvan Lake Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
WILSON CREEK (UNIT)
Township 44-45, Range 1 W5
At Wilson Creek, Harvest holds non-operated working interests in certain wells including an 18.55% working interest in the Westerose South (Dick Lake) Leduc Unit operated by Gran Tierra Energy Inc.
At Wilson Creek, Harvest holds non-operated working interests in certain wells including an 18.55% working interest in the Westerose South (Dick Lake) Leduc Unit operated by Gran Tierra Energy Inc.
Wilson Creek Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Wilson Creek property contained remaining proved plus probable reserves of 266,000 barrels of oil and natural gas liquids and 72 MMcf of natural gas (278,000 boe), with an estimated net present value of approximately $6.8 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Wilson Creek property contained remaining proved plus probable reserves of 266,000 barrels of oil and natural gas liquids and 72 MMcf of natural gas (278,000 boe), with an estimated net present value of approximately $6.8 million using forecast pricing at a 10% discount.
Wilson Creek Liability Assessment
The Company does not operate any wells or facilities at Wilson Creek.
Wilson Creek Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
The Company does not operate any wells or facilities at Wilson Creek.
Wilson Creek Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
EAST AB PACKAGE
In the East AB Package, Harvest has various operated and non-operated working interests located in the Bellshill, Consort, Hayter, Richdale and Suffield areas as shown on the following map.
In the northeast region of the East AB package Harvest has identified upside drilling in the Mannville Stack play with several horizontal drilling opportunities in the General Petroleum, Lloydminster, Cummings, Dina, McLaren and Sparky formations.
In the northeast region of the East AB package Harvest has identified upside drilling in the Mannville Stack play with several horizontal drilling opportunities in the General Petroleum, Lloydminster, Cummings, Dina, McLaren and Sparky formations.
Average production net to Harvest from the East AB Package for the 4 months ended April 30, 2026 was 1,076 boe/d, consisting of 1,021 barrels of oil and natural gas liquids per day and 326 Mcf/d of natural gas.
Operating income net to Harvest from the East AB Package for the 4 months ended April 30, 2026 was approximately $500 per month.
Operating income net to Harvest from the East AB Package for the 4 months ended April 30, 2026 was approximately $500 per month.
East AB Package
Gross Production Group Plot of Harvest's Wells
East AB Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the East AB package contained remaining proved plus probable reserves of 2.2 million barrels of oil and 646 MMcf of natural gas (2.3 million boe), with an estimated net present value of approximately ($87.7 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the East AB package contained remaining proved plus probable reserves of 2.2 million barrels of oil and 646 MMcf of natural gas (2.3 million boe), with an estimated net present value of approximately ($87.7 million) using forecast pricing at a 10% discount.
East AB Package Liability Assessment
As of August 1, 2026, the East AB Package had a deemed liability value of $110.2 million.
As of August 1, 2026, the East AB Package had a deemed liability value of $110.2 million.
BELLSHILL
Township 34-42, Range 10-14 W4
At Bellshill, Harvest holds various operated and non-operated working interests with oil and natural gas production primarily from Ellerslie and Glauconitic Sandstone formations.
At Bellshill, Harvest holds various operated and non-operated working interests with oil and natural gas production primarily from Ellerslie and Glauconitic Sandstone formations.
Bellshill Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Bellshill property had no reserves assigned with an estimated net present value of approximately ($46.7 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Bellshill property had no reserves assigned with an estimated net present value of approximately ($46.7 million) using forecast pricing at a 10% discount.
Bellshill Liability Assessment
As of August 1, 2026, the Bellshill property had a deemed liability value of $50.0 million.
Bellshill Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Bellshill property had a deemed liability value of $50.0 million.
Bellshill Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
CONSORT
Township 33-42, Range 1-10 W4
At Consort, Harvest holds various operated and non-operated working interests with oil and natural gas production primarily from Basal Quartz, Dina, Lloydminster and Viking formations.
At Consort, Harvest holds various operated and non-operated working interests with oil and natural gas production primarily from Basal Quartz, Dina, Lloydminster and Viking formations.
Consort Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Consort property had no reserves assigned with an estimated net present value of approximately ($12.6 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Consort property had no reserves assigned with an estimated net present value of approximately ($12.6 million) using forecast pricing at a 10% discount.
Consort Liability Assessment
As of August 1, 2026, the Consort property had a deemed liability value of $10.1 million.
Consort Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Consort property had a deemed liability value of $10.1 million.
Consort Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
HAYTER
Township 40-45, Range 1-4 W4
At Hayter, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Cummings, Dina, Sparky and Lloydminster formations.
At Hayter, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Cummings, Dina, Sparky and Lloydminster formations.
Hayter Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Hayter property had no reserves assigned with an estimated net present value of approximately ($26.8 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Hayter property had no reserves assigned with an estimated net present value of approximately ($26.8 million) using forecast pricing at a 10% discount.
Hayter Liability Assessment
As of August 1, 2026, the Hayter property had a deemed liability value of $20.5 million.
Hayter Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Hayter property had a deemed liability value of $20.5 million.
Hayter Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
RICHDALE
Township 1-55, Range 1 W4 - 9 W5
At Richdale, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Banff, Belly River, Viking and Upper Mannville formations.
At Richdale, Harvest holds various operated and non-operated working interests with oil and natural gas production from the Banff, Belly River, Viking and Upper Mannville formations.
Richdale Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Richdale property had no reserves assigned with an estimated net present value of approximately ($11.7 million) using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Richdale property had no reserves assigned with an estimated net present value of approximately ($11.7 million) using forecast pricing at a 10% discount.
Richdale Liability Assessment
As of August 1, 2026, the Richdale property had a deemed liability value of $11.1 million.
Richdale Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Richdale property had a deemed liability value of $11.1 million.
Richdale Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
SUFFIELD
Township 15-18, Range 8-10 W4
At Suffield, Harvest holds primarily 100% working interests with oil and natural gas production from the Upper Mannville Group.
The Company believes there is substantial drilling upside in the Glauconitic Sandstone Formation at Suffield, with several low-risk horizontal drilling locations identified on its lands at Suffield.
At Suffield, Harvest holds primarily 100% working interests with oil and natural gas production from the Upper Mannville Group.
The Company believes there is substantial drilling upside in the Glauconitic Sandstone Formation at Suffield, with several low-risk horizontal drilling locations identified on its lands at Suffield.
Suffield Reserves
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Suffield property contained remaining proved plus probable reserves of 2.2 million barrels of oil and 646 MMcf of natural gas (2.3 million boe), with an estimated net present value of approximately $10.1 million using forecast pricing at a 10% discount.
GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “GLJ Report”). The GLJ Report is effective December 31, 2025, using an average of GLJ, McDaniel & Associates Consultants Ltd. and Sproule ERCE’s January 1, 2026 forecast pricing.
GLJ estimated that as at December 31, 2025 the Suffield property contained remaining proved plus probable reserves of 2.2 million barrels of oil and 646 MMcf of natural gas (2.3 million boe), with an estimated net present value of approximately $10.1 million using forecast pricing at a 10% discount.
Suffield Liability Assessment
As of August 1, 2026, the Suffield property had a deemed liability value of $18.4 million.
Suffield Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
As of August 1, 2026, the Suffield property had a deemed liability value of $18.4 million.
Suffield Facilities
Details on Harvest’s facility interests are available in the virtual data room for parties that execute a confidentiality agreement.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting offers to acquire the Properties until 12:00 pm on Thursday, October 1, 2026.
Sayer Energy Advisors does not typically conduct a "second-round" bidding process; the intention is to attempt to conclude
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday, October 1, 2026.
NOTE REGARDING A SAYER PROCESS
On each and every offering brochure generated by Sayer, you will note the sentence “Sayer Energy Advisors does not conduct a “second-round” bidding process; the intention is to attempt to conclude a sale of the Properties with the party submitting the most acceptable proposal at the conclusion of the process.” What this means is that Sayer will not go back to multiple parties at the same time after bids are received, asking them all for a second bid. We determine which party submitted the most acceptable proposal and then we attempt to negotiate acceptable terms with that party in a “one-off” situation.
If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
In the extremely rare circumstance where two or more parties submit virtually identical proposals, we will contact all parties, we will advise them of this situation and we will ask them to submit a revised proposal. Once these are received, we will work with the party which has submitted the most acceptable proposal.If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
CONFIDENTIALITY AGREEMENT
Parties wishing to receive access to the confidential information with detailed technical information relating to this opportunity should execute the Confidentiality Agreement and return one copy to Sayer Energy Advisors by courier, email (tpavic@sayeradvisors.com) or fax (403.266.4467).
Included in the confidential information is the following: summary land information, most recent net lease operating statements, the GLJ Report, deemed liability information and other relevant financial and technical information.
Download Confidentiality Agreement
To receive further information on the Properties please contact Tom Pavic, Ben Rye or Sydney Birkett at 403.266.6133.