Alberta Energy Closes $200 Million Offering

On December 20, 2000, Alberta Energy Company Ltd. (Alberta Energy) closed a $200 million offering of 8.5 per cent CAPS, payable semi-annually, and having a term of 40 years. CAPS are hybrid debt/equity securities being redeemable, exchangeable unsecured subordinated debentures. Each security is redeemable at par by Alberta Energy beginning June 20, 2006, and will be exchangeable, subject to redemption rights, into Alberta Energy common shares beginning June 20, 2006. The deal was handled by underwriters led by RBC Dominion Securities Inc. and Merrill Lynch Canada Inc.

Macleod Dixon LLP represented Alberta Energy, with a team comprised of Kevin Johnson, Don Tse and Tim Richardson (securities). Acting for the underwriters were Pat Finnerty, Jacquie Moore (securities) and Kristie Smith of Blake, Cassels & Graydon LLP.


Tim J. Richardson Kevin E. Johnson Don Tse Jacqueline S. Moore Pat C. Finnerty Kristie Smith