North American Energy Partners Inc. completes C$225 million initial public offering

Date Closed: 11/28/2006

Value: C$225 million

North American Energy Partners Inc. (NAEP) and certain selling shareholders completed a cross-border initial public offering and a secondary offering of common shares for gross proceeds of approximately $255 million. The shares of NAEP are listed on the New York Stock Exchange and the Toronto Stock Exchange.

The offering was underwritten by a syndicate of underwriters consisting of Credit Suisse Securities (USA) LLC, UBS Securities LLC, Jeffries&Company, Inc., CIBC World Markets Corp., Simmons&Company International, Stephens Inc., Peters&Co. Limited and the Canadian affiliates of certain of the underwriters.

NAEP is one of the largest providers of mining and site preparation, piling and pipeline services in western Canada. BLG provided the external legal advice to NAEP with respect to matters of Canadian law with a team that included Frank Callaghan, Philippe Tardif, Gordon Raman, Larissa Tkachenko, Emma Miller, Terence Lui, Habeeb Syed and Kinga Grudzinski.