Advantage Energy Income Fund, Calgary, (Toronto: AVN-UN; NYSE: AAV) plans to acquire Sound Energy Trust, Calgary, (Toronto: SND-UN) in a deal valued at approximately C$243.1 million (US$232.2 million). Sound has more than 430,000 net undeveloped acres in northern Alberta and southeastern Saskatchewan. Production is approximately 9,694 barrels of oil equivalent per day. Proved and probable reserves as of Dec. 31 were 33.1 million barrels equivalent. Pro forma, Advantage will have approximately 760,000 net undeveloped acres. Production will be up to 36,500 barrels equivalent per day (65% gas). Proved reserves will be 98.7 million barrels equivalent and proved and probable reserves will be 153.7 million barrels equivalent. The combined entity will have an enterprise value of approximately C$2.7 billion.
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