2009-08-10-2008-06-01

Transaction Type
Announce Date
Post Date
Estimated Price
40MM
Description

To purchase Dodsland-Stranraer property, gaining 2.9 BOE 2P, 750 BOE/d.

An undisclosed buyer plans to acquire the Dodsland-Stranraer property in Saskatchewan from True Energy Trust, Calgary, (Toronto: TUI.UN) for approximately C$40 million. Proved and probable reserves as of year-end 2007 were 2.9 barrels of oil equivalent (92% gas). Production is approximately 750 barrels of oil equivalent per day (92% gas). Scotia Waterous Inc. is advisor to True. The effective date is March 1. Proceeds will be used to pay debt.