2009-08-11-2007-11-01-2008-02-01

Bought co., gaining 285 MMBOE gross proved, production 61,000 BOE/d, 1.1 million net undeveloped acres.

Taqa North Ltd., Calgary, formerly known as Northrock Resources Ltd. and a subsidiary of Abu Dhabi National Energy Co. PJSC, Abu Dhabi, UAE, (Abu Dhabi: TAQ) has closed its acquisition of Calgary-based royalty trust PrimeWest Energy Trust (Toronto, NYSE: PWI) for C$4.6 billion. Taqa North paid C$26.75 per unit. The company becomes Canada's No. 14 producer. PrimeWest focused on the Western Canadian Sedimentary Basin and Montana, North Dakota and Wyoming. Assets include 285 million barrels gross proved reserves with production of 61,000 barrels of oil equivalent per day and 1.1 million net acres of undeveloped land. Taqa North operates in northern Alberta and British Columbia; west-central and southern Alberta; southwestern Saskatchewan; southeastern Saskatchewan; and the Northwest Territories. Taqa North was acquired in August from Pogo Production Co., Houston, for US$2 billion. Taqa North recently acquired Pioneer Natural Resources Canada Inc., a subsidiary of Dallas-based Pioneer International Resources Co., (NYSE: PXD) for US$540 million. Combined, Taqa North has proved reserves in excess of 480 million barrels of oil and production of more than 105,000 barrels of oil per day. The deal is part of Abu Dhabi National's long-term plan to develop assets in Canada. CIBC World Markets Inc. was advisor to PrimeWest. TD Securities Inc., Citigroup and Goldman Sachs International were advisors to Taqa.