Trican Acquires Liberty

On March 8, 2007 Trican Well Service Ltd. completed the acquisition of approximately 93 per cent of Liberty Pressure Pumping LP for approximately US$264.5 million, paid partially in cash, US$198.6 million and partially in Trican common shares, US$65.9 million. The acquisition was partially financed through credit facilities aggregating US$90 million provided by the Royal Bank of Canada.

Trican is Canada's largest pressure pumping provider with growing international operations, including operations in Russia and the United States. Liberty, headquartered in Denton, Texas is a provider of pressure pumping services used in the development and completion of oil and gas wells, particularly in the Barnett Shale play of North Texas.

Trican was represented by Burnet, Duckworth & Palmer LLP of Calgary with an acquisition team that included Allan Twa, Q.C., Gary Bugeaud, David Ross, Alicia Quesnel and Ted Brown and a financing team that included Dino DeLuca and Katherine Pybus and in the United States by Vinson & Elkins LLP with a team that included Douglas Bland and Mark Brazzil.

Liberty was represented by Locke Liddell & Sapp LLP of Dallas with a team that was led by Kent Jamison and included Melissa Cross.

The Royal Bank of Canada was represented by Macleod Dixon LLP of Calgary with a team that included Michael Wylie, Darren Hueppelsheuser and Salimah Janmohamed and in the United States by Moses & Singer LLP with a team that included Peter Smedresman and Steven Glaser.