Statoil

:

Brigham Exploration

Dealogic Deal #  :

772455

Data as of :

10/17/2011

Target

Acquiror

Dates & Values

Brigham Exploration

Statoil

Target:

100

% stake

Buying:

100

% stake

Rumored

-

Deal Value $m

4,668.3

NS

BEXP

117

m shares outstanding

Public (Listed)

Announced

17th Oct 2011

Value ex Debt $m

4,430.6

United States

Norway

Oil & Gas

Oil & Gas

Expected

4Q 2011

Consideration

Jefferies | Advisor

Goldman Sachs | Advisor

Completed

-

Thompson & Knight | Attorney

Tudor Pickering | Advisor

Vinson & Elkins | Attorney

Withdrawn

-

Termination Fee, Target $m

tbd

Termination Fee, Acquiror $m

tbd

Financials

30th Jun 2011

Balance Sheet

Debt/Equity:

1.4

Timeline Events

Premiums & Multiples

Initial Offer

$37

Current Offer

$37

Income Statement

Cash Flows

Operations $m

238

Profitability

Profit Margin

38%

Return on Equity

13%

League Table Impact

Sector Trend

2011 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Oil & Gas

1

Goldman Sachs

594.6

2

JPMorgan

502.1

3

Morgan Stanley

436.4

4

Credit Suisse

388.3

5

Citi

347.7

6

Barclays Capital

305.0

7

BOA Merrill Lynch

300.3

8

Deutsche Bank

284.3

9

UBS

231.3

10

Lazard

220.7

23

Jefferies

45.5

47

Tudor Pickering

13.4

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