Shiningbank Energy Acquires Birchill Resources

On March 8, 2004, Shiningbank Energy Income Fund acquired all outstanding shares of Birchill Resources Ltd., a private oil and gas company, for $169.2 million. The acquisition was financed in part by a bought deal equity financing in the amount of $150 million, underwritten by a syndicate led by CIBC World Markets Inc., and included BMO Nesbitt Burns Inc., Scotia Captial Inc., RBC Dominion Securities Inc., TD Securities Inc., National Bank Financial and FirstEnergy Capital Corp.

The fund was represented by Gowling Lafleur Henderson LLP, with a team that included Richard Clark, Edie Gillespie, Brian Mainwaring, Kurtis Kulman, Robert McCue, Tina Antony and Léonard Serafini. Birchill Resources was represented by Osler, Hoskin & Harcourt LLP, with a team that included Mark Smith, Don Watkins, Q.C., Martin Mix and Tonya Flood. The underwriters were represented by Macleod Dixon LLP’s Kevin Johnson, Darren Hueppelsheuser, Marcus Archer and Rashi Sengar.