Eagle Energy Trust Completes IPO

On November 24, 2010, Eagle Energy Trust (“Eagle”) completed its initial public offering of 15,000,000 trust units at a price of $10 per unit for a total offering of $150,000,000. Concurrently with the closing of the IPO, Eagle also closed the acquisition of a 73 per cent working interest in the Salt Flat Field, a producing light oil field in Texas.
Subsequently on December 16, 2010 and December 21, 2010, the over-allotment option was exercised by the underwriters resulting in the offering of an additional 1,950,000 units at the offering price of $10 per unit resulting in additional proceeds of $19,500,000.

The offering was underwritten by a syndicate of underwriters led by Scotia Capital Inc. and including BMO Nesbitt Burns Inc., CIBC World Markets Inc. TD Securities Inc., National Bank Financial Inc., Dundee Securities Corporation, Canaccord Genuity Corp., FirstEnergy Capital Corp., GMP Securities L.P., HSBC Securities (Canada) Inc. and Raymond James Ltd.

The formation, structuring, organization and offering of trust units of Eagle was led by a team from McCarthy Tétrault LLP including David Phillips, Vanessa Grant, Orysia Semotiuk, Cameron Schepp and Wilson Acton (securities) and Robert McCue and James Morand (tax).

The syndicate of underwriters was represented by a team from Blake, Cassels & Graydon LLP including Pat Finnerty, Ross Bentley, Sarah Gingrich, Anjali Coyle and Chris Salamon (securities) and Edward Rowe and Carrie Aiken Bereti (tax).