True Energy Trust Acquires Prairie Schooner Petroleum

On September 22, 2006 True Energy Trust and Prairie Schooner Petroleum Ltd. completed a plan of arrangement whereby True acquired all of the outstanding common shares of Prairie Schooner in exchange for trust units of True, for an approximate total value of $431 million. True is a medium-sized exploration and production trust based in Calgary, Alberta.

True was represented by Burnet, Duckworth & Palmer LLP with a team that included Steve Cohen, Mike Sandrelli, Scott Kearl and John Wilson (securities); John Cuthbertson and John Goetz (energy); Jeff Fortin (tax); Gina Ross (employment); Alicia Quesnel (competition) and Trish Fehr and David Grout (banking).

Prairie Schooner was represented by Bennett Jones LLP with a team that included Will Osler, Bruce Hibbard and Matthew Lawson (securities); Scott Bodie (tax); Beth Riley (competition) and Jim D'Andrea (employment).