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).


C. Steven Cohen Bruce A. Hibbard Patricia M. A. Fehr Gina A. Ross Scott Bodie Y. Beth Riley John H. Cuthbertson William S. Osler Alicia K. Quesnel Jeff Fortin David A. Grout Matthew E. Lawson Scott D. Kearl John A. Wilson James A. D'Andrea Michael D. Sandrelli


Burnet, Duckworth & Palmer LLP Bennett Jones LLP