Focus Energy Trust Completes Plan of Arrangement with Profico

On June 27, 2006, Focus Energy Trust completed the plan of arrangement with Profico Energy Management Ltd. whereby Focus acquired the Shackleton and southwest Saskatchewan properties of Profico and Profico distributed shares of Spur Resources Ltd. to its shareholders.
Under the terms of the arrangement, Focus issued 31 million trust units and 10 million partnership units, exchangeable for trust units on a one-for-one basis and paid approximately $92.8 million to Profico shareholders. The total consideration received by Profico shareholders was approximately $1.2 billion. Focus is a natural gas weighted oil and gas investment trust based in Calgary and created through the reorganization of Storm Energy Inc. in 2002.
Focus was represented by Macleod Dixon LLP with a team that included Dan Baxter, Jamie Gagner and Karen Uehara (securities) and Orville Pyrcz, Q.C., and Craig Maurice (tax). Profico was represented by Burnet, Duckworth & Palmer LLP with a team that included Grant Zawalsky, Shannon Gangl and Will Van Horne (securities), Alicia Quesnel (regulatory), John Brussa, Jeff Fortin and Heather DiGregorio (tax) and Gina Ross (employment).