2009-08-04-2009-07-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
19MM
Description

To acquire company with assets in Crossfield, Strathmore areas, AB, gaining 600 BOE/d.

Harvest Energy Trust, Calgary, (NYSE, Toronto: HTE) plans to acquire Pegasus Oil & Gas Inc., Calgary, for C$18.7 million in stock and debt assumption. Harvest will pay 0.015 trust units for each Pegasus share. Harvest will assume approximately C$14 million in debt. Pegasus' assets include a large presence in central Alberta in the Crossfield and Strathmore areas adjacent to existing Harvest operations. Production for May averaged approximately 600 barrels of oil equivalent per day (2.9 million cubic feet of gas; 105 barrels of oil and gas liquids). Pegasus values the deal at $31,100 per flowing barrel. FirstEnergy Capital Corp. is financial advisor to Pegasus and has provided a fairness opinion.