BC Gas Completes Offerings

On December 10, 2002, BC Gas Inc. completed a $200 million public offering of common shares and a concurrent $100 million private placement of common shares to a Canadian institutional investor. The proceeds of the offerings are being used to finance BC Gas’s portion of the consideration payable for the acquisition of the Express Pipeline and Platte Pipeline from EnCana Corporation by a consortium formed by BC Gas, to finance the completion of the Corridor Pipeline and for general corporate purposes.

The underwriting syndicate of the public offering consisted of RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., CIBC World Markets Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Edward Jones, FirstEnergy Capital Corp. and Raymond James Ltd.

Elizabeth Harrison, Q.C., David Selley and Joëlle Frigon of Farris, Vaughan, Wills & Murphy acted for BC Gas. Douglas Irwin of McCullough O’Connor Irwin in Vancouver acted for the institutional investor. Jonathan Drance, John Anderson and Argiro Kotsalis of Stikeman Elliott LLP in Vancouver acted for the underwriters.


Joëlle S. Frigon Argiro M. Kotsalis John F. Anderson Jonathan S. Drance David J. Selley