Merger to Create New Enerplus Trust

In April 2000, Enerplus Resources Fund, the original royalty trust of the Enerplus group, who pioneered oil and gas royalty trust funds in Canada, entered into a merger agreement with Westrock Energy Income Fund I and Westrock Energy Income Fund II, which are also managed by the Enerplus Group, to create the fourth largest conventional oil and gas trust in Canada with a market capitalization of approximately $250 million. The merger is subject to approval of the respective unit holders of Enerplus, Westrock I and Westrock II at meetings to be held in June 2000.

Counsel for Enerplus was Blake, Cassels & Graydon LLP, led by Brock Gibson and Chad Schneider on securities and trust matters and Wally Shaw on tax matters. The merger was recommended by special committees of Enerplus, Westrock I and Westrock II, who were represented by Allan Twa of Burnet, Duckworth & Palmer. The trustee for each of the Funds, CIBC Mellon Trust Company, was represented by Kent Kufeldt of Macleod Dixon.


Chad Schneider Wallace Y. Shaw Allan R. Twa Brock W. Gibson Kent D. Kufeldt