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Current Offerings / Integrity Oil Operations Ltd.
Integrity Oil Operations Ltd.
Corporate DivestitureBid Deadline: November 5, 2026
12:00 PM
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OVERVIEW
Integrity Oil Operations Ltd. (“Integrity” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of the shares of the Company.Integrity is a debt free, junior oil and natural gas company with a focus on heavy oil operated assets in the Lloydminster area of Saskatchewan. In Saskatchewan, the Company’s operations are focused in the Edam, Epping, Maidstone and Tangleflags areas. The Company also has various non-operated interests throughout Alberta, British Columbia and Saskatchewan (the “Properties”).
Average daily production net to Integrity from the Properties for the six months ended June 30, 2026 was approximately 176 boe/d, consisting of approximately 170 bbl/d of oil and natural gas liquids and 38 Mcf/d of natural gas.
Operating income net to Integrity from the Properties for the six months ended June 30, 2026 was approximately $1.4 million.
Integrity has no bank debt, and as at March 31, 2025, had total unused Canadian income tax pools of approximately $7.1 million including $5.3 million in non-capital losses. There are no office lease or severance obligations associated with the Company.
As of September 8, 2026, the Alberta properties had a deemed liability value of $354,135. As of September 8, 2026, the Saskatchewan properties had a deemed liability value of $2.5 million.
Additional corporate information relating to Integrity will be provided to parties upon execution of a confidentiality agreement.
Overview Map Showing the Location of Integrity’s Producing Properties
Corporate Overview
Integrity is a tightly-held private junior oil and natural gas company with operated and non-operated oil and natural gas production throughout Alberta, British Columbia and Saskatchewan.
Integrity has no bank debt, and as at March 31, 2025, had total unused Canadian income tax pools of approximately $7.1 million including $5.3 million in non-capital losses. There are no office lease or severance obligations associated with the Company.
Additional corporate information relating to Integrity will be provided to parties upon execution of a confidentiality agreement.
Production Overview
Average daily production net to Integrity from the Properties for the six months ended June 30, 2026 was approximately 176 boe/d, consisting of approximately 170 bbl/d of oil and natural gas liquids and 38 Mcf/d of natural gas as outlined below.
Operating income net to Integrity from the Properties for the six months ended June 30, 2026 was approximately $1.4 million as outlined below.
Gross Production Group Plot of Integrity’s Oil & Natural Gas Wells
Liability Assessment Summary
Alberta
As of September 8, 2026, the Alberta properties had a deemed liability value of $354,135.
Saskatchewan
As of September 8, 2026, the Saskatchewan properties had a deemed liability value of $2.5 million.
British Columbia
The British Columbia properties are non-operated.
Seismic Overview
The Company does not have an interest in any seismic data relating to the Properties.
Reserves Overview
Trimble Engineering Associates Ltd. (“Trimble”) prepared an independent reserves evaluation of the Properties (the “Trimble Report”). The Trimble Report is effective June 30, 2026 using Trimble’s July 1, 2026 forecast pricing.
Trimble estimated that, as at June 30, 2026, the Properties contained remaining proved plus probable reserves of 752,000 barrels of oil and natural gas liquids and 68 MMcf of natural gas (763,000 boe), with an estimated net present value of $6.7 million using forecast pricing at a 10% discount.
Marketing Overview
Integrity’s oil, natural gas and natural gas liquids are marketed through Cenovus Energy Inc., Gibson Energy Infrastructure Partnership and Tidal Energy Marketing Inc. on 30-day evergreen contracts.
Facilities Overview
Detailed facilities information will be provided to parties upon execution of a confidentiality agreement.
OPERATED PROPERTIES
Average daily production net to Integrity from the operated properties for the six months ended June 30, 2026 was approximately 158 boe/d, consisting of approximately 158 bbl/d of oil.Operating income net to Integrity from the operated properties for the six months ended June 30, 2026 was approximately $1.4 million.
Saskatchewan Operated Properties
Township 45-52, Range 19-28 W3
Integrity holds operated working interests in the Edam, Epping, Maidstone, and Tangleflags areas of Saskatchewan, as shown on the following plat.
Alberta Operated Properties
Township 47, Range 5 W4
Integrity holds an operated working interest in a producing well in the Wainwright area of Alberta, as shown on the following plat.
Operated Properties Reserves
Trimble Engineering Associates Ltd. (“Trimble”) prepared an independent reserves evaluation of the Properties (the “Trimble Report”). The Trimble Report is effective June 30, 2026 using Trimble’s July 1, 2026 forecast pricing.
Trimble estimated that, as at June 30, 2026, the operated properties contained remaining proved plus probable reserves of 718,000 barrels of oil (718,000 boe), with an estimated net present value of $8.9 million using forecast pricing at a 10% discount.
Operated Properties Liability Assessment
Alberta
As of September 8, 2026, the producing operated Alberta properties had a deemed liability value of $64,323.
Saskatchewan
As of September 8, 2026, the producing operated Saskatchewan properties had a deemed liability value of $611,835.
NON-OPERATED PROPERTIES
Average daily production net to Integrity from its non-operated properties for the six months ended June 30, 2026 was approximately 18 boe/d, consisting of approximately 12 bbl/d of oil and natural gas liquids and 38 Mcf/d of natural gas.Operating income net to Integrity from the non-operated properties for the six months ended June 30, 2026 was approximately $181,000.
Alberta Non-Operated Properties
Township 13-89, Range 4 W4-7 W5
Integrity holds non-operated working interests in the Elnora, Eyremore, Fenn-Big Valley, Ferrier, Ghost Pine, Grand Forks, Halkirk, Red Earth and Wainwright areas of Alberta, as shown on the following plat.
British Columbia Non-Operated Properties
NTS 094-P-15
The Company has a non-operated working interest in one producing natural gas well, CNRL Et Al Helmet 00/A-065-D/094-P-15/00, in the Helmet area of British Columbia operated by Canadian Natural Resources Limited as shown on the following plat.
Saskatchewan Non-Operated Properties
Township 47-51, Range 23-26 W3
Integrity holds non-operated working interests in the Hillmond and Maidstone areas of Saskatchewan, as shown on the following plat.
Non-Operated Properties Reserves
Trimble Engineering Associates Ltd. (“Trimble”) prepared an independent reserves evaluation of the Properties (the “Trimble Report”). The Trimble Report is effective June 30, 2026 using Trimble’s July 1, 2026 forecast pricing.
Trimble estimated that, as at June 30, 2026, the non-operated properties contained remaining proved plus probable reserves of 34,000 barrels of oil and natural gas liquids and 68 MMcf of natural gas (45,000 boe), with an estimated net present value of $610,000 using forecast pricing at a 10% discount.
NON-PRODUCING PROPERTIES
Integrity holds working interests in certain non-producing properties, both operated and non-operated, located throughout Alberta, British Columbia and Saskatchewan, as shown on the following plats.Operating income net to Integrity from the non-producing properties for the six months ended June 30, 2026 was approximately ($90,300).
Overview Map Showing the Location
of Integrity’s Non-Producing Properties
Central Alberta Non-Producing Properties
Southern Alberta Non-Producing Properties
Northern Alberta Non-Producing Properties
Saskatchewan Non-Producing Properties
British Columbia Non-Producing Properties
Non-Producing Properties Reserves
Trimble Engineering Associates Ltd. (“Trimble”) prepared an independent reserves evaluation of the Properties (the “Trimble Report”). The Trimble Report is effective June 30, 2026 using Trimble’s July 1, 2026 forecast pricing.
As at June 30, 2026, no reserves were assigned by Trimble to the non-producing properties which had an estimated an estimated net present value of ($2.8 million) using forecast pricing at a 10% discount.
Non-Producing Properties Liability Assessment
Alberta
As of September 8, 2026, the Alberta non-producing properties had a deemed liability value of $289,812.
Saskatchewan
As of September 8, 2026, the Saskatchewan non-producing properties had a deemed liability value of $1.9 million.
British Columbia
The British Columbia properties are non-operated.
Non-Producing Properties Well List
Click here to download the complete well list in Excel.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting proposals relating to this process until 12:00 pm on Thursday, November 5, 2026.
Sayer Energy Advisors does not typically conduct a "second-round" bidding process; the intention is to attempt to conclude a
transaction with the party submitting the most acceptable proposal at the conclusion of the process.
transaction with the party submitting the most acceptable proposal at the conclusion of the process.
Sayer Energy Advisors is accepting proposals from interested parties until
noon on Thursday, November 5, 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 Company 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: most recent net lease operating statements, summary land information, the Trimble Report, Liability Assessment and other relevant corporate and technical information.
Download Confidentiality Agreement
To receive further information on the Company please contact Tom Pavic, Ben Rye or Sydney Birkett at 403.266.6133.