2009-08-11-2007-08-01-2007-10-01

Bought co., gaining 430,000 net undeveloped acres in northern AB and southeastern SK. Production 9,694 BOE/d; proved/probable 33.1 MMBOE.

Advantage Energy Income Fund, Calgary, (Toronto: AVN-UN; NYSE: AAV) has closed the acquisition of Sound Energy Trust, Calgary, (Toronto: SND-UN) in a deal valued at approximately C$243.1 million (US$232.2 million). Advantage offered 0.30 unit per Sound unit or 0.2557 unit and C$0.66. 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. Advantage now has approximately 760,000 net undeveloped acres. Production is up to 36,500 barrels equivalent per day (65% gas). Proved reserves are 98.7 million barrels equivalent and proved and probable reserves will be 153.7 million barrels equivalent. The combined entity has an enterprise value of approximately C$2.7 billion. Advantage president and chief operating officer Andy Mah and Sound president and chief executive Tom Stan report, "We are very excited by the strong synergies that the respective asset bases and combined corporate strategies will provide. dvantage's high-quality assets have desirable long-life characteristics and plentiful drilling opportunities which, when combined with Sound's complementary properties and operational synergies, will create a very attractive vehicle to deliver unit-holder value." FirstEnergy Capital Corp. was financial advisor to Sound. The deal was expected to close in September.