2010-03-11-2010-02-09

To acquire NE BC properties, gaining 43.8 MMcfe/d.

Progress Energy Resources Corp., Calgary, (Toronto: PRQ) plans to acquire gas properties in northeastern British Columbia from Suncor Energy Inc., Calgary, (NYSE, Toronto: SU) for approximately C$390 million.

Current production from the Jedney, Beg and Blueberry properties, about 75 miles northwest of Fort St. John, is estimated at 43.8 million cubic feet equivalent per day.

The sale is expected to close by the end of first-quarter 2010.

Including the agreement with Progress, Suncor has divested approximately C$907 million in noncore assets, which it says include gas properties in Western Canada and the U.S. Rockies, all of its Trinidad and Tobago holdings and certain properties in the North Sea.