Quatro Resources Inc.

November 30, 2007 17:21 ET

Quatro Resources Inc. to Make Offer to Acquire All of the Outstanding Shares of Berkana Energy Corp.

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2007) - QUATRO RESOURCES INC. ("Quatro"), a Calgary based, private oil and gas company, announces its intention to make an offer to acquire (the "Offer") all of the outstanding common shares of Berkana Energy Corp. ("Berkana") (TSX:BEC) 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 past 20 trading days.

Murphy Oil Canada ("Murphy"), which owns 53,997,712 Berkana shares representing approximately 80% of the outstanding Berkana shares (76% fully diluted), has irrevocably agreed to tender its shares to the Quatro Offer. Quatro anticipates mailing its Offer to the Berkana shareholders in early December, 2007. The Offer will remain open for 35 days and be conditional upon at least 66.67% of the fully diluted Berkana shares being tendered into the Offer.

Quatro is a portfolio company of Natural Gas Partners of Irving, Texas ("NGP"), the premier 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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