Energy firm to liquidate through Ch. 7

An archived copy of the PetroHunter website from 2013.

An archived copy of the PetroHunter website from 2013.

An oil and gas exploration and production company with headquarters on the 16th Street Mall has filed for bankruptcy, owing at least $100 million.

PetroHunter Energy Corporation filed to liquidate under Chapter 7 bankruptcy on Oct. 17 in Denver, days after its board voted to wind down the business.

PetroHunter “has been unable to generate any revenues,” a board secretary observed in meeting minutes included in court filings. To avoid lawsuits from creditors, the board resolved to liquidate.

On its initial bankruptcy filing, PetroHunter listed assets between $1 million and $10 million and liabilities between $100 million and $500 million.

The company lists its headquarters as 910 16th St., Suite 208.

The company is being represented by Alice A. White of Onsager Guyerson Fletcher Johnson in its bankruptcy proceeding.

As of press time, PetroHunter had not filed disclosures of its creditors or other details about its operations.

PetroHunter was founded in 2005 by Marc A. Bruner and has offices in Colorado and Australia, according to an archived copy of the company’s website from 2013.

On Aug. 8, the SEC revoked PetroHunter’s registration to sell shares. The last time the company filed a quarterly statement with the SEC, more than three years ago, it reported owning 11 wellbores in western Colorado and being part of a joint venture in Australia.

At the end of June 2013, the company reported that it had assets worth $96,000 and liabilities of over $80 million. It had a net loss of $2.3 million for the three months ended June 30.

The company’s CEO is Martin Oring. According to the company’s website, he held positions at banking and financial services companies as well as Mobil prior to joining PetroHunter.

The Chapter 7 trustee in the case is Jeffrey L. Hill.

Creditors are scheduled to meet Nov. 15 at 9 a.m. in Room A of the Byron G. Rogers Federal Building.

An archived copy of the PetroHunter website from 2013.

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