The announcement that BG Group had agreed the purchase was made on February 16, 2004.
The assets held by the acquired company, which will now be called BG Canada Exploration and Production Inc. ("BG Canada"), include 630,000 acres of net undeveloped oil and gas acreage, which BG believes hold considerable exploration potential.
The company also holds producing assets, concentrated in four core areas in Alberta and British Columbia.
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company's annual report and accounts for the year ended 31 December 2002.
The properties are located in the Western Canadian Sedimentary Basin, with the 630,000 acres of net undeveloped land representing 91% of the total land position. The Ryder Scott evaluated proved reserves of 132 billion cubic feet equivalent are concentrated in the four core areas of Bubbles and Ojay/Sundown (British Columbia) and Waterton and Copton (Alberta).
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