Enterra buying several producing properties in Alberta

By OGJ editors
HOUSTON, Dec. 29 -- Enterra Energy Trust, Calgary, agreed to acquire several producing properties in east central Alberta for $15 million.

These properties produce 1,800 boed, consisting of 1,600 b/d of oil and 1,200 mcfd of natural gas. The deal, expected to close Jan. 29, 2004, also includes 22,166 acres of undeveloped land.

Enterra Pres. And CEO Luc Chartrand said, "The addition of these assets to our current inventory of properties is expected to be very accretive in terms of cash flow and earnings for 2004."

Currently, the company is assessing opportunities to enhance these properties' production. A development program is expected to begin in February 2004.

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