Canetic Resources Trust, Calgary, (NYSE: CNE; Toronto: CNE.UN) plans to acquire interests in central Alberta and northeastern British Columbia from an undisclosed private company for approximately C$900 million in cash. The properties include a new core area in northeast British Columbia that complements Canetic's current operations at Fort St. John and Blackhawk, an undeveloped land base of 230,000 net acres with associated 2-D and 3-D seismic and more than 300 identified development drilling opportunities in both British Columbia and the Hoadley area of central Alberta. There is also coalbed-methane potential in both the Horseshoe Canyon and Mannville formations.
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