Shell Canada Limited Completes Acquisition of Duvernay Oil Corp.



    CALGARY, Aug. 22 /CNW/ - Shell Canada Limited ("Shell Canada"), a wholly
owned subsidiary of Royal Dutch Shell plc (NYSE:   RDS.B; NYSE:   RDS.B),
announced today that as of 1:01 a.m. on August 22, 2008, 61,661,551 common
shares of Duvernay Oil Corp ("Duvernay") have been validly deposited to the
offer by BRS Gas Corp., a wholly-owned subsidiary of Shell Canada, to acquire
all of the common shares of Duvernay (including common shares issuable upon
the exercise or surrender of any options). BRS Gas Corp. has taken up all such
shares, which represent approximately 97.7% of the common shares of Duvernay
on a fully-diluted basis, and will pay for such shares on or before August 27,
2008.
    Shell Canada first announced its intention to make the offer on July 14,
2008 and BRS Gas Corp. mailed its take-over bid circular to the shareholders
of Duvernay on July 17, 2008. As a result of today's announcement, Shell
Canada, through its wholly-owned subsidiary BRS Gas Corp., has now declared
its offer to acquire the common shares of Duvernay to be wholly unconditional.
    BRS Gas Corp. will now exercise its statutory rights under the Business
Corporations Act (Alberta) to compulsorily acquire the remaining Duvernay
common shares that were not deposited to the offer. Following the compulsory
acquisition, BRS Gas Corp. intends to cause Duvernay to de-list the Duvernay
common shares (TSX:DDV) from the Toronto Stock Exchange and to apply to
securities regulatory authorities to cease to be a reporting issuer.

    Legal Notice

    This release does not constitute an offer to purchase or a solicitation
of an offer to sell securities.

    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, August 22, 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.





For further information:

For further information: 


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890