2010-04-09-2010-02-25

To acquire assets in Trinidad and Tobago, gaining 70 MMcfe/d.

Centrica Resources (Armada) Ltd., a subsidiary of Centrica Plc, Berkshire, England, (London: CNA) plans to acquire assets in Trinidad and Tobago from Suncor Energy Inc., Calgary, (NYSE, Toronto: SU) for US$380 million.

The assets include a 17.3% working interest in the North Coast Marine Area north of Trinidad and west of Tobago. The property has production of 60- to 70 million cubic feet equivalent per day. The acquisition also includes a 90% interest in Block 22 and an 80% interest in blocks 1a and 1b.

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

Suncor says the transaction is in keeping with its plan to divest noncore properties, including gas assets in western Canada and the U.S. Rockies and some North Sea assets, including all assets in the Netherlands. Including the sale to Centrica, Suncor has sold or agreed to sell approximately $1.29 billion in noncore assets in recent months.