THE HAGUE, The Netherlands, August 20 /PRNewswire/ -- Shell Canada Limited ("Shell Canada") (NYSE: RDSA)(NYSE: RDSB), 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 The offer remains open until 1:01 a.m. (Calgary time) on August 22, 2008, unless the offer is withdrawn or extended by Shell Canada.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: firstname.lastname@example.org
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 www.sedar.com.
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