Shell Canada Limited Receives Regulatory Approvals For Duvernay Oil Corp. Acquisition

    THE HAGUE, Aug. 19 /CNW/ - Shell Canada Limited ("Shell Canada"), 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
    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time) on August 22, 2008, unless the offer is withdrawn or extended by Shell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.

    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

    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 and 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.

For further information:

For further information: KINGSDALE SHAREHOLDER SERVICES: 1-866-851-2638
(Toll free in North America) or outside North America, Banks & Brokers call
collect at (416) 867-2272, Email:; Shell
Media Relations London: +44 (0)20 7934 3505, The Hague: +31 70 377 8750.
Calgary: (403) 691-4189, Email:

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