On April 10, 2001, Talisman Energy Inc., Canada’s largest independent oil and gas producer, agreed to acquire Petromet Resources Limited by making a cash takeover bid for all of Petromet’s common shares and convertible debentures. The total value of the transaction, including Petromet’s net debt, is approximately $806 million. Petromet is a Calgary-based intermediate producer with gas weighted production focused in the West Edson area of Alberta.
Talisman was represented by Macleod Dixon LLP, with a team led by Kevin Johnson that included Chrysten Perry, Don Tse, Jamie Gagner and Tim Richardson. Stikeman Elliott acted for Petromet, with a team consisting of Christopher Nixon, Alyson Goldman and James Bruvall.