Date Closed

October 14, 2009

Lead Office

Calgary

Value

210.00 Million CAD

On October 14, 2009, Twin Butte Energy Ltd. and Buffalo Resources Corp. completed a strategic business combination pursuant to a plan of arrangement under the Business Corporations Act (Alberta). Pursuant to the arrangement, Twin Butte acquired all of the issued and outstanding common shares of Buffalo. The transaction was valued at approximately C$210 million. Concurrently, Buffalo completed the acquisition of an industry partner's working interests in various Buffalo wells for consideration of C$7.7 million.

Twin Butte Energy, headquartered in Calgary, Alberta, is a dividend paying, intermediate oil & gas company.

Buffalo Resources, headquartered in Calgary, Alberta, engages in the exploration, development, acquisition, and production of petroleum and natural gas from properties in Alberta and Saskatchewan.

McCarthy Tétrault LLP represented Buffalo Resources in the acquisition, with a team led by Michael Bennett.