Quatro Resources Inc.

December 13, 2007 18:44 ET

Quatro Resources Inc. Announces That It Has Mailed Its Offer to Acquire All of the Outstanding Shares of Berkana Energy Corp.

CALGARY, ALBERTA--(Marketwire - Dec. 13, 2007) - QUATRO RESOURCES INC. ("Quatro"), a Calgary based, private oil and gas company, announces that on December 12, 2007 it mailed its offer and related materials (the "Offer") in respect of its previously announced intention to make an offer to acquire all of the outstanding shares of Berkana Energy Corp. ("Berkana") at a price of $1.96 per share for an aggregate purchase price of approximately $150,000,000.

The Offer price represents a premium of approximately 15% to the average closing price for Berkana shares on the Toronto Stock Exchange over the 20 trading days preceding Quatro's initial announcement.

Murphy Oil Canada ("Murphy"), which owns 53,997,712 Berkana shares representing 80% of the outstanding Berkana shares, has irrevocably agreed to tender its shares to the Quatro Offer, which will satisfy the condition to the Offer that at least 66.67% of the fully diluted Berkana shares be tendered. The Offer is scheduled to expire January 16, 2008.

Quatro is a portfolio company of Natural Gas Partners of Irving, Texas ("NGP"), the premium provider of private equity capital in the energy industry. Founded in 1988, NGP is an affiliate of NGP Energy Capital Management, a $7+ billion firm based in Irving, Texas that invests in all sectors of the energy industry.

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