Shell Canada Limited Completes Acquisition of Duvernay Oil Corp.

Friday, August 22nd 2008

Shell Canada Limited, a wholly owned subsidiary of Royal Dutch Shell plc , announced today that as of 1:01 a.m. on August 22, 2008, 61,661,551 common shares of Duvernay Oil Corp 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 – News) from the Toronto Stock Exchange and to apply to securities regulatory authorities to cease to be a reporting issuer.