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Birch Lake Energy to Acquire Veraz Petroleum

Birch Lake Energy Inc. (BLK.V) and Veraz Petroleum Ltd. announced today that they have reached an agreement in principle whereby, subject to the execution of definitive documentation and other customary conditions, Birch Lake has agreed to acquire all of the currently issued and outstanding common shares of Veraz.

Birch Lake will issue approximately six million common shares to the holders of Veraz common shares, on the basis of 0.112100125 of a Birch Lake common share for every one Veraz common share.

A meeting of Veraz shareholders is scheduled to be held on December 20, 2012 for the purpose of approving the proposed acquisition.

The common shares of Veraz are listed and posted for trading on the NEX Board of the TSX Venture Exchange. Veraz does not currently carry on any active business.

BLK shares were up half-a-cent at $0.125.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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