Birchcliff Energy Acquires Oil and Gas Assets from Compton Petroleum

On September 27, 2007, Birchcliff Energy Ltd. acquired certain oil and gas assets held by Compton Petroleum Corporationand Compton Petroleum for an aggregate purchase price of $270,000,000. The acquisition was financed in part through a $115 million bought deal financing of 30,263,170 common shares of Birchcliff. The bought deal financing was underwritten by a syndicate of underwriters co-led by GMP Securities L.P. and Scotia Capital Inc. and included Cormark Securities Inc., HSBC Securities (Canada) Inc. and Raymond James Ltd. The acquisition was also financed through an increase to the Corporation's current revolving credit facilities to $200,000,000 and a new non-revolving credit facility for $100,000,000, arranged by a banking syndicate led by The Bank of Nova Scotia.

Birchcliff Energy Ltd. was represented by Borden Ladner Gervais LLP with a team comprised of Marilyn Paterson, Darryl Douglas (M&A),Derrick Armstrong, Robyn Bourgeois (securities) and Allan Nielsen (banking). Compton Petroleum Corporation was represented by Vice President and General Counsel Tim Millar, and by Fraser Milner Casgrain LLP with a team comprised of Miles Pittman (energy/M&A), Jehad Haymour (tax), George Antonopoulos (energy) and Barry Zalmanowitz (competition).

The Underwriters and the lenders were represented by Burnet, Duckworth & Palmer LLP with a team comprised of Chris von Vegesack and Scott Kearl (securities) and Cal Johnson,Katherine Pybus and Danielle Graham (banking).


Chris C. von Vegesack Darryl W. Douglas Allan D. Nielsen Cal D. Johnson Scott D. Kearl Katherine L. Pybus Danielle L. Maksimow Jehad Haymour Robyn N. Bourgeois George Antonopoulos Derrick R. Armstrong Marilyn D. Paterson Miles F. Pittman Barry Zalmanowitz


Borden Ladner Gervais LLP (BLG) Dentons Canada LLP Burnet, Duckworth & Palmer LLP