On October 14, 2009, Twin Butte Energy Ltd. and Buffalo Resources Corp. completed a strategic business combination pursuant to a plan of arrangement under the Business Corporations Act (Alberta). Pursuant to the arrangement, Twin Butte acquired all of the issued and outstanding common shares of Buffalo. The transaction was valued at approximately $210 million. Concurrently, Buffalo completed the acquisition of an industry partner's working interests in various Buffalo wells for consideration of $7.7 million.
McCarthy Tétrault LLP acted as counsel for Buffalo, with a team including Richard Shaw, QC, Michael Bennett and Matthew Hall.
Burnet, Duckworth & Palmer LLP acted as counsel for Twin Butte, with a team including Fred Davidson, Alyson Goldman and Syd Abougoush.