Enerplus Completes Kirby Acquisition and Equity Offering

On April 10, 2007 Enerplus Resources Fund acquired a 90 per cent interest in the Kirby Oil Sands Partnership, a privately held partnership that owns a prospective oil sands development in the Athabasca oil sands fairway of Alberta. The total consideration paid by Enerplus for the 90 per cent interest was $182.5 million, consisting of $127.8 million in cash and the issuance of 1,104,945 trust units of Enerplus at a price of $49.55 per unit. Enerplus concurrently completed a $210.6 million Canadian equity offering through a syndicate of underwriters led by CIBC World Markets Inc.

Blake, Cassels & Graydon LLP acted for Enerplus on the transactions with a team that consisted of Brock Gibson and Chad Schneider (M&A and securities), Chris Christopher, Jana Kooperberg and Kristen Lewicki (M&A and energy) and Ron Mar and Ted Thiessen (tax).

Kirby was represented by Macleod Dixon LLP with a team that included Dave Guichon, Kent Kufeldt and David Craddock (M&A and energy). The underwriting syndicate for Enerplus' public offering was represented by Burnet, Duckworth & Palmer LLP with a team that included Allan Twa, Q.C., Jay Reid and James Kidd (securities) and David Ross (tax).


David W. Ross Jay P. Reid Chad Schneider Brock W. Gibson David A. Guichon Jr. Kent D. Kufeldt Allan R. Twa Kristen R. Lewicki Ron Mar Chris Christopher Ted Thiessen James L. Kidd