Petrofund Energy Trust, Calgary, (Toronto: PTF.UN; Amex: PTF) has closed the acquisition of privately held, Canada-based Kaiser Energy Ltd. for C$485 million, including debt and working capital. The acquisition was financed with a combination of debt from Petrofund's credit facilities and proceeds from a bought-deal subscription receipt. This acquisition increases Petrofund's current production by 14% to approximately 42,500 barrels of oil equivalent per day. The production is almost 100% gas, which realigns Petrofund's commodity balance to 50% oil and 50% gas. This transaction also increases Petrofund's reserves by 14% to approximately 160 million barrels of oil equivalent. With this acquisition, Petrofund's proved-plus-probable reserve-life index is approximately 11 years. The acquired assets also include 55,000 net acres of undeveloped land on which 166 low-to-medium risk development drilling opportunities have been identified.

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