2010-09-28-2010-09-22-2010-10-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
159MM
Description

Bought 70 non-core conventional properties in AB and BC, gaining 2,500 BOE/d, 9.3 MMBO proved and probable.

Enerplus Resources Fund, Calgary, (Toronto: ERF-UN, NYSE: ERF) has closed its sale of certain non-core conventional assets primarily in Alberta and British Columbia to an undisclosed buyer for approximately C$158.5 million.

The deal values production at C$63,400 per barrels of oil equivalent and proved and probable reserves at C$17 per barrel equivalent, according to Enerplus.

The assets include 70 properties mostly in Alberta and British Columbia. Production is approximately 2,500 barrels equivalent per day (54% oil and gas liquids). Proved and probable reserves are 9.3 million barrels equivalent.

FirstEnergy Capital Corp. and RBC Rundle were financial advisors to Enerplus.