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Avila Energy Corporation Announces Plant Shut Down
Avila Energy Corporation Announces Plant Shut
About this update from Avila Energy Corporation
[{"type":"text","content":"(via TheNewswire)\n\n\n\n \n\nCalgary, Alberta –May 1,2025 –TheNewswire -Avila Energy Corporation (“Avila” or “Company”), trading symbol, (CSE: VIK, OTCM: PTRVF and FRA:6HG0), announces that its Bear Hills processing plant has been shut in.\n \n \n\n \n\nOn April 3, 2025 Avila had its Bear Hills processing plant shut in for failure to meet the dew point standards of Atco/TC Energy. On April 2, Atco/TC Energy made its monthly inspection to gauge the dew point which establishes the temperature of the natural gas being exported from the Company's plant. The temperature exceeded the -10c threshold by several degrees. The Company shut in some of the production however upon the return the next day the temperature did not conform to requirements. The Company finds that baffling as the prior months with similar ambient temperatures the Company passed the test. \n\n \n\nThe Company engaged the services of a Calgary based consulting engineering firm which ran simulation models which determined that the facility was more than capable of handling the volume and richness of the gas being processed. Accordingly it was determined that the Company service its heat exchanger, which is expected to solve the dew point problem. The Company expects the matter to be rectified shortly. \n\n \n\nIn other news the Company reports that it attended the Court of King’s Bench on April 28, seeking an Order approving the Creditors approval of the Creditor Proposal voted on March 21, 2025. The Order also sought an amendment to the Proposal extending the time for the Cease Trade Order to be lifted until June 30, 2025 and until September 30, 2025 to recommence trading on the Canadian Securities Exchange (CSE). \n\n \n\nAbout Avila Energy Corporation\n\n\n\nThe Company is an emerging CSE listed corporation trading under the symbol (‘VIK’), and in combination with an expanding portfolio of 100% Owned and Operated oil and natural gas production, pipelines and facilities is a licensed producer, explorer, and developer of Energy in Canada. For further information, please contact:DonaldBenson, President andCEEmails: DonaldBenson – [email protected] \n\n \n\n\n\n\n \n\nON BEHALF OF THEBOARD \n\n \n\nDonaldBensonCEOAvila Energy Corporation Suite 2500, 500 4th Avenue SWCalgary, Albertawww.a...