Avila Energy Corporation
Capital Structure
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in mil. unless spec.Company Description
- CEO
- Donald Phillip Benson
- Full Time Employees
- 3
- Sector
- Energy minerals
- Industry
- Integrated oil
- Address
- 3rd Avenue NE Calgary AB Canada T2A 2L5
- IPO Date
- May 4, 2020
- Website
- avilaenergy.com
- Similar Companies
- Business
- Avila Energy Corporation (CSE:VIK) is a Canada-based integrated energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids primarily in Western Canada. The company operates key assets including the West Central Alberta properties located southwest of Edmonton, Alberta, and the East Central Alberta assets east of Red Deer, Alberta, with a focus on light oil Viking resources in West Central Saskatchewan; it produces energy through proven geological, geophysical, engineering, and production techniques while pursuing carbon neutral initiatives via closed-loop carbon capture, sequestration, and vertically integrated solutions such as midstream power generation facilities (up to 30 MW with carbon capture) and downstream direct-to-consumer offerings incorporating combined heat and power (CHP) microturbine technology like the EnerTwin for electricity, heating, cooling, and EV charging. Founded in 2010 and headquartered at 500 - 4th Avenue SW, Suite 2500, Calgary, Alberta, the company, formerly known as Petro Viking Energy Inc., rebranded to Avila Energy Corporation in December 2021. Recent developments include the announcement in November 2024 of plans to restate its December 31, 2023 financial statements due to irregularities in flow-through financing and asset accounting, prompting a forensic audit; a October 2024 settlement with the Alberta Securities Commission alongside former CEO Leonard van Betuw for misleading disclosures, involving a $60,000 payment and undertakings for governance training; the filing of a Division 1 Proposal under the Bankruptcy and Insolvency Act on February 28, 2025, with subsequent amendments, creditor approval processes, and requests for extensions to lift a cease trade order and resume CSE trading by mid-2025; and a plant shutdown as part of ongoing restructuring efforts amid operational challenges.
Company News
Avila Energy Corporation Announces Rights Offering
CSE Bulletin: Reinstatement - Avila Energy Corporation (VIK)
Avila Energy Corporation Announces Plant Shut Down
Avila Energy Corporation Provides Corporate Update
CSE Bulletin: Suspension - Avila Energy Corporation (VIK)
Avila Energy Corporation is Pleased to Announce an Increase in its 3rd Party Processing Volumes and an Operational Update
Avila Energy Corporation To Close Further Tranches of Its Private Placement Offering of up to $3,000,000
Avila Energy Announces Change in Auditor and Appointment of New CFO
Avila Energy Corporation is Pleased to Announce the Publishing of its Inaugural Environmental, Social and Governance Report for 2023
Avila Energy Corporation Is Pleased To Announce the Filing of Its Financial Report for the Three and Nine Months Ended September 30, 2023
Avila Energy Corporation Provides Operational Update and is Pleased to Announce the Addition of 3rd Party Processing Services
Avila Energy Corporation Announces the Engagement of Common Cents Media SPC. and Files Early Warning Report
Avila Energy Corporation Closes First Tranche of $1,033,000
Avila Energy Corporation is Pleased to Announce a Private Placement Offering of Up to $3,000,000 and Corporate Updates
Avila Energy Corporation is Pleased to Announce the Filing of its Financial Report for the Three and Six Months Ended June 30, 2023
Avila Energy Corporation Refiles Amended and Restated Annual Financial Statements for the Year Ended December 31, 2022
Avila Energy Corporation is pleased to announce the Closing of the Secured Two-Year Loan of CDN $3,000,000
Avila Energy Corporation is Pleased to Announce the Completion of all Terms of Settlement with MTT and the Issuance of the Licensed Rights for the Manufacturing, Sale, Supply and Servicing of MTT's EnerTwin in Canada and the United States of America
Avila Energy Refiles its Financial Statements and MD&A