China Oil and Gas Group Ltd. acquires Baccalieu Energy Inc.

China Oil and Gas Group Limited, through its indirect wholly owned subsidiary, acquired Baccalieu Energy Inc., a Calgary-based oil and natural gas company with assets in western Canada.

The acquisition was carried out by way of a statutory plan of arrangement pursuant to which China Oil and Gas indirectly acquired all of the issued and outstanding common shares of Baccalieu for $10.22 in cash per share. The total transaction was valued at approximately $235.6 million, excluding assumed debt.

China Oil and Gas was represented by Borden Ladner Gervais LLP with a team that included Kent Kufeldt, Lily Wang and Scott Cedergren (corporate and M&A), Peter Bryan (oil and gas), Laurie Robson (employment), Colin MacDonald and Matt Noel Bentley (competition) and Randy Morphy (tax).

Baccalieu was represented by Blake, Cassels & Graydon LLP with a team including Scott Clarke, Sarah Hammond, Britt Tan and Madison Kragten (corporate and M&A); Julie Soloway and Kevin MacDonald (competition) and Carrie Aiken (tax).

Baccalieu's management team was represented by Burnet, Duckworth & Palmer LLP with a team including David Grout (corporate), Bob Graham (employment) and Michael Flatters (tax).