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).

Lawyer(s)

Randy S. Morphy Scott Clarke Kent D. Kufeldt David A. Grout Colin P. MacDonald Peter A. Bryan Julie A. Soloway Scott Cedergren Bob H. Graham Sarah Hammond Laurie M. Robson Lily Wang Carrie Aiken Michael J. Flatters Kevin MacDonald

Firm(s)