Chamaelo, Tropic Networks and Tournament Energy Merge

On January 5, 2006, Chamaelo Exploration Ltd., Tropic Networks Inc. and Tournament Energy Ltd. completed a plan of arrangement whereby the three entities merged to form an oil and gas company with a market capitalization of approximately $311 million and its shares listed on the Toronto Stock Exchange under the name Chamaelo Exploration Ltd. In connection with the arrangement, bought deal equity financings for aggregate gross proceeds of $93,750,000 were completed with a syndicate of underwriters co-led by Orion Securities Inc. and Sprott Securities Inc. and including GMP Securities Ltd., Tristone Capital Inc., Haywood Securities Inc. and National Bank Financial Inc. (collectively, the underwriters). Bank financing was also provided by National Bank of Canada in the amount of $60 million.

Chamaelo was represented by Gowling Lafleur Henderson LLP with a team led by Greg Peterson, Jeff Dyck and Jimmi Duce that included Erin Lee, Bennett Wong and Evan Low (corporate/securities), Bob McCue, Al Rautenberg and Eugene Friess (tax), Trish Steele (oil and gas) and Richard Myers and Nick Salaysay (banking); and by John Whelan and Bram Kranichfeld of Carter Ledyard & Milburn LLP in New York.

Tropic was represented by Deborah Weinstein, Lawrence Weinstein, Shane McLean, James Smith, Colin Wrynn and Estelle Duez of LaBarge Weinstein Professional Corporation.

Tournament was represented by Edward Leew, Craig Johnstone, Duane Gillis and Mark Fletcher of Thackray Burgess, and by Chris Nixon, Craig Story, David Weekes, Martin Mix and Kristi Kasper of Stikeman Elliott LLP.

The underwriters were represented by Scott Wilson, Gil Malfair and Shane Stevenson of Borden Ladner Gervais LLP.