THE HAGUE, The Netherlands, August 19 /PRNewswire-FirstCall/ -- Shell
Canada Limited ("Shell Canada") (NYSE: RDS.A) (NYSE: RDS.B), a wholly owned
subsidiary of Royal Dutch Shell plc, announced today that it has received
the approval of the Minister of Industry under the Investment Canada Act
for its offer to purchase all of the outstanding common shares of Duvernay
Oil Corp. ("Duvernay") (including common shares issuable upon the exercise
or surrender of any options). In approving the acquisition, the Minister
determined that the transaction is likely to be of "net benefit to Canada"
for purposes of the Investment Canada Act.
Shell Canada also announced today that the Commissioner of Competition
under the Competition Act (Canada) has granted Shell Canada an advance
ruling certificate, which constitutes compliance with the requirements
under the Competition Act (Canada). As a result, Shell Canada has now
received all necessary Canadian regulatory approvals to proceed with the
acquisition of Duvernay.
Shareholders are encouraged to tender their Duvernay common shares to
the offer as soon as possible. The offer remains open until 1:01 a.m.
(Calgary time) on August 22, 2008, unless the offer is withdrawn or
extended by Shell Canada. Under the terms of the offer, Duvernay
shareholders will receive C$83.00 for each Duvernay common share.
Shell Canada first announced its intention to make the offer on July
14, 2008 and its wholly owned subsidiary, BRS Gas Corp., mailed its
take-over bid circular to the shareholders of Duvernay on July 17, 2008.
Contact Information:
KINGSDALE SHAREHOLDER SERVICES:
+1-866-851-2638 (Toll free in North America) or
outside North America, Banks & Brokers call collect at +1-416-867-2272
Email: contactus@kingsdaleshareholder.com
Legal Notice
This release does not constitute an offer to purchase or a solicitation
of an offer to sell securities. Duvernay shareholders are advised to review
the take-over bid circular and related documents (the "Offer Documents")
and any other relevant documents filed with the Canadian securities
regulatory authorities in respect of the offer because they will contain
important information. In addition to mailed copies of the Offer Documents,
investors will be able to obtain such documents free of charge through the
System for Electronic Document Analysis and Retrieval (SEDAR) at
http://www.sedar.com.
Cautionary Statement
This announcement contains forward-looking statements concerning the
financial condition, results of operations and businesses of Royal Dutch
Shell. All statements other than statements of historical fact are, or may
be deemed to be, forward-looking statements. Forward-looking statements are
statements of future expectations that are based on management's current
expectations and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to
differ materially from those expressed or implied in these statements.
Forward-looking statements include, among other things, statements
concerning the potential exposure of Royal Dutch Shell to market risks and
statements expressing management's expectations, beliefs, estimates,
forecasts, projections and assumptions. These forward-looking statements
are identified by their use of terms and phrases such as ''anticipate'',
''believe'', ''could'', ''estimate'', ''expect'', ''intend'', ''may'',
''plan'', ''objectives'', ''outlook'', ''probably'', ''project'', ''will'',
''seek'', ''target'', ''risks'', ''goals'', ''should'' and similar terms
and phrases. There are a number of factors that could affect the future
operations of Royal Dutch Shell and could cause those results to differ
materially from those expressed in the forward-looking statements included
in this announcement, including (without limitation): (a) price
fluctuations in crude oil and natural gas; (b) changes in demand for the
Group's products; (c) currency fluctuations; (d) drilling and production
results; (e) reserve estimates; (f) loss of market and industry
competition; (g) environmental and physical risks; (h) risks associated
with the identification of suitable potential acquisition properties and
targets, and successful negotiation and completion of such transactions;
(i) the risk of doing business in developing countries and countries
subject to international sanctions; (j) legislative, fiscal and regulatory
developments including potential litigation and regulatory effects arising
from recategorisation of reserves; (k) economic and financial market
conditions in various countries and regions; (l) political risks, including
the risks of expropriation and renegotiation of the terms of contracts with
governmental entities, delays or advancements in the approval of projects
and delays in the reimbursement for shared costs; and (m) changes in
trading conditions. All forward-looking statements contained in this
announcement are expressly qualified in their entirety by the cautionary
statements contained or referred to in this section. Readers should not
place undue reliance on forward-looking statements. Additional factors that
may affect future results are contained in Royal Dutch Shell's 20-F for the
year ended December 31, 2007 (available at http://www.shell.com/investor and
http://www.sec.gov ). These factors also should be considered by the reader. Each
forward-looking statement speaks only as of the date of this announcement,
Aug 19, 2008. Neither Royal Dutch Shell nor any of its subsidiaries
undertake any obligation to publicly update or revise any forward-looking
statement as a result of new information, future events or other
information. In light of these risks, results could differ materially from
those stated, implied or inferred from the forward-looking statements
contained in this announcement.
SOURCE Royal Dutch Shell plc
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CONTACT: Shell Media Relations, London: +44(0)20-7934-3505, The Hague: +31-70-377-8750, Calgary: +1-403-691-4189, Email: media-relations@shell.com
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