Petro-Canada Sells Gas Plants to Blaze Energy

On January 15, 2007 Petro-Canada sold its interest in the Brazeau gas plant and associated gas reserves, and its interest in the West Pembina facility and associated gas reserves, to Blaze Energy Ltd., a private company based in Calgary. The purchase price was undisclosed. Blaze will assume operatorship of the Brazeau facility, and many of the Petro-Canada employees affected by the sale were provided employment by Blaze and will continue to work at the Brazeau plant site.

Blaze was represented by a team from Parlee McLaws LLP led by Nancy Penner, which included Tom Ryder (tax); Dale Spackman, Q.C. (financing); George Wowk (privacy); and William Mouris (pensions).

Petro-Canada was represented by Andrew Hyslop, senior counsel, and Cindy Roberts, senior counsel, and by a team from Fraser Milner Casgrain LLP led by Miles Pittman, which included Jehad Haymour (tax); Mary Picard (pensions); Bill Jenkins (securities); Barry Zalmanowitz, Q.C. (competition); Fausto Franceschi and Michael Ford (employment); Dana Bissoondatt (privacy); and Carolyn Wilton, Trevor McLeod, Geoff Macleod, George Antonopoulos and Michael Kariya (oil and gas).