JED Oil CCAA stay extended to June 17; purchase price hold declined

By Caroline Salls

Pittsburgh, May 29 - JED Oil Inc.'s Companies' Creditors Arrangement Act stay period was extended to June 17 from May 27 by the Court of Queen's Bench of Alberta, Judicial District of Calgary, according to a company news release.

JED said the court also approved its request to pay valid builders liens in full and adjourned a hearing on a motion by NEO Exploration Inc. and Ptarmigan Lands LP to exclude specified lands purchased from JED from the purchase.

The company said the court did decline a motion to put a hold on the purchase price of the assets, which are currently being held in trust.

JED said it intends to vigorously defend the claims by Neo and Ptarmigan.

JED Oil is a Didsbury, Alta.-based oil and natural gas company.

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