Enerplus Resources Fund

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

Enerplus Resources Fund, Calgary, (NYSE: ERF; Toronto: ERF.UN) has retained RBC Capital Markets to seek strategic alternatives regarding its 15% working interest in the Joslyn oil-sands lease in the Athabasca oil-sands fairway in northeastern Alberta. The assets consist of mining and steamassisted gravity drainage (SAGD) development projects. Enerplus' oil sands portfolio is comprised of a 100% working interest in the operated Kirby SAGD project; a 15% nonoperated working interest in the Joslyn mining and SAGD project; and a 12% equity investment in Laricina Energy Ltd., a private oilsands company pursuing SAGD projects. Enerplus is currently focusing its efforts on the staged development of the Kirby lease which it believes has the potential to produce 30,000 to 40,000 barrels of bitumen per day. Contact Rob Hallet, 713-403-5690.