Shell Canada Acquires Duvernay Oil for $5.88B

Shell Canada Limited, through its wholly owned subsidiary BRS Gas Corp., commenced a $5.24 billion offer on July 17, 2008 for all of the issued and outstanding common shares (including common shares issuable upon the exercise of any options) in the capital of Duvernay Oil Corp. Goldman, Sachs & Co. acted as financial advisor to Shell Canada. Peters & Co. Limited acted as financial advisor to Duvernay.

In connection with the acquisition, Shell Canada settled the outstanding credit facilities of Duvernay, increasing the transaction value to approximately $5.88 billion.

Shell Canada was represented in-house by Shannon L. Cosmescu, associate general counsel-corporate, and by Osler, Hoskin & Harcourt LLP. The Osler team was led by Stan Magidson and Neal Ross, and included Jessica LaCroix and Brent Robinson (corporate); Stan Ebel (Canadian tax); Janice Buckingham and Simon Baines (energy); Ryan Rodier (environmental and regulatory); Peter Glossop and Kevin Ackhurst (Investment Canada and competition); Damian Rigolo and Cheryl Rea (employment and benefits) and John McGee (real estate). Rob Lando (corporate) and Paul Seraganian (US tax) of Osler's New York office provided US legal advice to Shell Canada.

Duvernay was represented by Burnet, Duckworth & Palmer LLP's William S. Maslechko and James Kidd (corporate); David Ross (tax); Alicia Quesnel (oil & gas) and Jody Wivcharuk (competition).

Lawyer(s)

Neal P. Ross Damian J. Rigolo Alicia K. Quesnel John E. McGee Jody L. Wivcharuk Jessica LaCroix Kevin D. Ackhurst Simon C. Baines Stan Magidson Peter L. Glossop Robert C. Lando William S. Maslechko Shannon L. Cosmescu James L. Kidd Janice Buckingham Brent M. Robinson Ryan V. Rodier Cheryl Rea Paul Seraganian Stanley R. Ebel David W. Ross

Firm(s)

Osler, Hoskin & Harcourt LLP Burnet, Duckworth & Palmer LLP