Thursday, February 14, 2008
Enerplus Resources Fund (ERF.UN) and Focus Energy Trust (FET.UN) merge
Enerplus Resources Fund ("Enerplus") and Focus Energy Trust ("Focus") are pleased to announce that the merger of Enerplus and Focus pursuant to a plan of arrangement (the "Arrangement") was completed today.
The combination of Focus and Enerplus has created a large oil and gas
producer that possesses high quality, long life assets with an extensive
portfolio of resource play opportunities in shallow natural gas, Bakken light
oil, crude oil waterfloods, deep tight gas and the oil sands. Enerplus
Unitholders will enjoy a diversified and balanced portfolio of oil and gas
assets producing approximately 100,000 BOE/day with a proved plus probable
reserve life index of approximately 14 years.
As previously announced by Focus, the Focus Dividend Reinvestment Plan
("DRIP") was suspended such that the cash distribution to be paid on February
15, 2008 to holders of record on January 31, 2008 is not be eligible for
reinvestment under the Focus DRIP. As the Arrangement has been completed, the
Focus DRIP has been terminated. Former Focus Unitholders who are resident in
Canada and who are interested in participating in the Enerplus DRIP should
contact their broker, investment dealer, financial institution or other
nominee through which their Enerplus Units are held. If you are a registered
unitholder, you must complete and deliver an authorization form found on our
website at www.enerplus.com and submit it to CIBC Mellon Trust Company with
instructions on how you wish to participate in the Enerplus DRIP.
Note that I have now removed Focus from the DRIP list of companies.
Full information of Enerplus' announcement can be found here: Enerplus and Focus announce closing of strategic merger
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