Vintage Acquires Genesis

Over 99 per cent of the shares of Genesis Exploration Ltd. were tendered to a friendly takeover bid made by Vintage Acquisition Corp., an indirect wholly owned subsidiary of Vintage Petroleum, Inc., which expired on May 1, 2001. Vintage Petroleum, Inc. is an oil and gas company headquartered in Tulsa, Oklahoma with international operations, the common stock of which is listed on the NYSE. Genesis is a Calgary-based oil and gas company, which has shares listed on the TSE. Under the offer, Genesis shareholders received $18.25 per Genesis share. The enterprise value of the offer was approximately $898 million, including the assumption of approximately $130 million debt.

Acting for Vintage under the direction of its Vice-President and General Counsel, Robert Cox, were Pat Finnerty, Ron Mar, Susan Wakil, Edmund Gill, Klaudio Leshnjani, Kristie Smith, Carrie Giroux and Karen Murray of Blake, Cassels & Graydon LLP. Acting for Genesis were William Guinan, George Kelly, Daniel Kolibar, Colin MacDonald, David Madsen and Diana Kenny of Borden Ladner Gervais LLP.


Daniel G. Kolibar Pat C. Finnerty Colin P. MacDonald William C. Guinan Ron Mar Susan M. Kootnekoff Kristie Smith Diana H. Horsman Klaudio Leshnjani Karen A. Murray David T. Madsen Edmund A. Gill D. George Kelly