• Baytex Energy Ltd., Calgary, has increased its offer to acquire Triumph Energy Corp., Calgary, from C$3.70 to C$4.17 per share or from 0.2846 to 0.3475 Baytex share per Triumph. The deal is subject to a maximum of 5.85 million Baytex shares being issued and C$82.2 million in cash. Also, Triumph has increased the noncompletion fee to C$9.5 million. The amended offer arose as a result of an unsolicited proposal presented to Triumph by a third party. • Canadian Superior Energy Inc., Calgary, has made a hostile takeover bid for Canadian 88 Energy Corp., also of Calgary. Canadian 88 rejected the offer saying the all-stock bid offered no value to its shareholders. Canadian 88, a midsize gas producer with operations in Alberta, has reported that two lawsuits launched by Canadian Superior against it have prevented the firm from striking a deal with other potential buyers. Canadian Superior claims its rights of first refusal on two gas properties in Alberta, called Waterton and Blackstone, were breached when Canadian 88 sold the assets to Dallas-based Hunt Oil Co. Canadian 88 believes the legal actions are without merit but have become an issue for possible buyers. Canadian 88's proved reserves were 37 million BOE on Jan. 1. Canadian Superior planned to offer 2.75 of its shares per Canadian 88 share in a bid it values at C$700 million. • Compton Petroleum Corp. plans to acquire Hornet Energy Ltd., Calgary, for C$2 per share for the 15.9 million shares outstanding. Compton will also assume all of Hornet's outstanding debt of approximately C$8.2 million. Hornet's current production is approximately 810 BOE per day with an additional 200 BOE per day currently behind pipe and awaiting compression and facilities. Dundee Securities Corp. is financial advisor to Hornet. TD Securities is financial advisor for Compton. • EOG Resources Canada Inc. plans to acquire Derrick Resources Inc., Calgary, for C$4.82 per share or approximately C$53 million. The Derrick board and other shareholders, holding approximately 66% of Derrick, plan to tender their shares. They have agreed not to solicit further offers. Derrick's core operated area is east of Calgary. The company currently owns an average 95% working interest in a 37-section block of contiguous, gas-bearing land in the Connorsville area. Derrick has proven reserves of 23.9 billion cu. ft. of gas equivalent and proven plus probable reserves of 28.7 billion cu. ft. of gas equivalent. Kobayashi & Associates Ltd. is advising Derrick. • The Wiser Oil Co., Dallas, has acquired Calgary-based Invasion Energy Inc. for US$35.7 million, which was funded with cash and US$15 million of bank debt. Wiser estimates the acquisition will increase its proved gas reserves at Dec. 31, 2000, by 28.8 billion cu. ft. , or 38%, to approximately 105 billion cu. ft. On a BOE basis, the Invasion acquisition will increase total proved reserves at Dec. 31, 2000, by 13% from approximately 37.1 million BOE to 41.9 million. The Invasion properties are in the Wolverine, Bison and Rossbear fields in northwest Alberta. -Heather H. Read

Comments