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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Scott Mc who wrote (372)	6/8/2000 8:20:00 PM
From: Scott Mc	Read Replies (1) \| Respond to of 11633

Close today $3.20 with the 6:1 cons that equals $19.20 - my GUESS for Friday is open 18.50 - Low 17.75 high 18.50..Scott Enerplus Resources Fund ERF.G Shares issued 39,002,000 2000-06-08 close $3.2 Thursday Jun 8 2000 Also Westrock Energy Income Fund II (WRF.UN) Also Westrock Energy Income Fund I (WRE.UN) Mr. Eric Tremblay reports Enerplus Resources Fund, Westrock Energy Income Fund I and Westrock Energy Income Fund II have completed the merger of their operations into a single fund which will continue as Enerplus Resources Fund. In conjunction with the merger, Enerplus unitholders approved a consolidation of the Enerplus trust units on a 6 for 1 basis. At separate meetings held June 8, 2000, the unitholders of each of the funds approved the merger, with 98.59 per cent of the votes cast by Enerplus unitholders, 97.95 per cent cast by the Westrock I unitholders and 98.43 per cent of the votes cast by Westrock II unitholders being in favour of the merger. The closing of the merger occurred immediately following the unitholder meetings. On a post-merger basis, Enerplus has a production of over 12,000 barrels of oil equivalent per day, comprising 40 per cent natural gas, 10 per cent natural gas liquids and 50 per cent crude oil, with a year-end established reserve life index over 14.0 years. The merged fund's debt at the end of the first quarter 2000 was $66.1-million, while operating cash flow for the same period was $71.6-million on an annual basis, for a debt/cash flow ratio of 0.9x, representing one of the strongest balance sheets in its sector. As previously announced, unitholders of record on June 1, 2000, of Enerplus, Westrock I and Westrock II will receive their regular monthly distribution on June 15, 2000, for Enerplus and June 20 for Westrock I and Westrock II. All subsequent distributions, beginning with the July distribution paid to Enerplus unitholders of record on July 10, 2000, will be received from Enerplus Resources Fund and will be paid on the 20th calendar day of each month. This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The trust units offered will not and have not been registered under the United States Securities Act of 1933, and may not be offered or sold in the United States without registration or an exemption from registration.