Pengrowth Acquires Oil and Gas Properties from ConocoPhillips for $1B

On January 22, 2007 Pengrowth Corporation, administrator of Pengrowth Energy Trust, completed its acquisition of certain Western Canadian oil and gas properties from ConocoPhillips Canada, through the acquisition of four subsidiaries from Burlington Resources Canada Ltd., which is a ConocoPhillips Canada subsidiary. The purchase price was $1.0375 billion. This is the largest property acquisition made by a Canadian energy royalty trust.

Pengrowth was represented by Charles V. Selby, vice-president and corporate secretary, and by Bennett Jones LLP with a team led by Don Greenfield, which also included Angus Mitchell, Greg Johnson, Jean-Pierre Pham, Andrew Lamb and Beth Riley.

ConocoPhillips was represented by in-house counsel Brent Molesky and by Osler, Hoskin & Harcourt LLP with a team that included Robert Desbarats, Q.C., Janice Buckingham, Stan Ebel, Peter Glossup, Nancy Diep and Kevin Ackhurst.