Shell Canada Extends BlackRock Offer

Shell Canada says that as of 1:01 a.m. on June 27, 2006, approximately 4,319,949 additional common shares of BlackRock Ventures Inc. (TSX: BVI) have been validly deposited to the offer by BR Oil Sands Corporation, a wholly-owned subsidiary of Shell Canada, to acquire all of the common shares of BlackRock (including common shares issuable upon the exercise or surrender of any options or conversion of any convertible debentures). BR Oil Sands Corporation has taken up these additional shares, which, together with those shares previously taken up, represent approximately 98% of the common shares of BlackRock on a fully- diluted basis. BR Oil Sands Corporation will pay for these additional shares today by providing the depositary with sufficient funds for transmittal to the holders of these shares.

On June 16, 2006, Shell Canada, through its wholly-owned subsidiary BR Oil Sands Corporation, declared its offer to acquire the common shares of BlackRock to be wholly unconditional.

BR Oil Sands Corporation has also extended its offer until 1:01 a.m. (Calgary time) on July 10, 2006 to allow BlackRock shareholders an additional opportunity to tender their shares, including shares issuable on the conversion of the convertible debentures, to its offer. A notice of extension will be mailed to BlackRock shareholders in the coming days.

Upon completion of a compulsory acquisition or subsequent acquisition transaction, BR Oil Sands Corporation intends to de-list the BlackRock shares from the Toronto Stock Exchange and cause BlackRock to apply to securities regulatory authorities to cease to be a reporting issuer.

Shareholders are encouraged to tender their remaining BlackRock common shares, including shares issuable on the conversion of the convertible debentures, to the offer as soon as possible, and in any event prior to July 10, 2006, to receive prompt payment.


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