This is the brief announcement about the Teck buyout of SilverBirch. I could see us ending up with a similar deal of shares in CUU2 plus cash, and then CUU2 would have some retained capital. Excluded from the deal would be the Arizona properties. (That or CUU2 would have a royalty, although I hope this is not the deal, but from past conversations with management they have talked about this idea of a development company with a revenue stream before.)

VANCOUVER and CALGARY - Teck Resources of Vancouver has made an offer for Calgary-based SilverBirch Energy Corp. SilverBirch shareholders are to receive $8.50 in cash plus one share of a new company to be called SilverWillow Energy for each SilverBirch share held. The deal is worth $435 million and will provide SilverWillow with $25 million in net working capital.

Excluded from the deal are SilverBirch's interests in the Frontier and Equinox oil sands projects. The Equinox project is the proposed fourth phase of the Frontier project located across the Athabasca River from the Fort Hills development project in which Teck holds a 20% interest.