Crew Energy Acquires Caltex Energy

On July 1, 2011, Crew Energy Inc. completed the acquisition of Caltex Energy Inc., a private oil and gas company, for approximately $600 million comprising the issuance of common shares of Crew Energy and the assumption of Caltex net debt. The acquisition was completed pursuant to a plan of arrangement under the Business Corporations Act (Alberta).

Crew was represented by Burnet, Duckworth & Palmer LLP with a team led by Michael Sandrelli, and including Jacob Hoeppner and Lonnie Tetley (securities); Jeff Fortin and Heather Digregorio (tax); Gina Ross (employment) and Jody Wivcharuk (competition).

Caltex was represented by Osler, Hoskin & Harcourt LLP with a team led by Donald Boykiw, and including Rummy Basra and David Rankin (corporate); Stan Ebel and Robert Lee (tax); Damian Rigolo (employment) and Peter Glossop (competition).