2009-08-11-2008-01-01

To buy co., gaining 3,000 BOE/d in Rimbey, Kaybob, Red Earth areas; C$20 million annual cash flow.

Quatro Resources Inc., Calgary, plans to acquire Berkana Energy Corp. (Toronto: BEC) for approximately C$150 million. Quatro will pay C$1.96 per share, a premium of approximately 15%. The offer is conditional on a 66.67% approval of shareholders. Murphy Oil Canada, a subsidiary of Murphy Oil Corp., El Dorado, Ark., (NYSE: MUR) and which owns approximately 80% of the outstanding Berkana shares, has agreed to the offer. Previously, Calgary-based Canadian Superior Energy Inc. (Toronto: SNG) made an offer of C$2.16 per share, or C$155 million in cash, which was withdrawn. Berkana assets include production of 3,000 barrels of oil equivalent per day in western Canada in the Rimbey, Kaybob and Red Earth areas, and C$20 million annual cash flow. Murphy recently retained RBC Dominion Securities of Canada to sell its interest in Berkana. Quatro is a portfolio company of Irving, Texas-based Natural Gas Partners.