Enerplus Resources Fund, Calgary, (NYSE: ERF; Toronto: ERF-UN) plans to acquire a 90% interest in the privately held Kirby Oil Sands Partnership for C$127.8 million in cash and C$54.7 million in trust units for a total deal valued at C$182.5 million. The Kirby Oil Sands Partnership operates in the Athabasca oil sands of Alberta. Enerplus will become managing partner and operator of the project. The Kirby oil-sands leases include 49 wells on 43,360 gross acres (more than 67 sections). Enerplus plans to have production of 10,000 barrels of oil per day (9,000 net) by 2011. Estimated reserves are 244 million barrels of bitumen (219.8 million net to Enerplus). The assets are near the Enbridge Athabasca system and the planned Access pipeline.
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