Ketch Resources Trust and Advantage Energy Income Fund Merge

On June 23, 2006, Advantage Energy Income Fund and Ketch Resources Trust completed the closing of the plan of arrangement and successful merger of the two trusts, which will continue under the name Advantage Energy Income Fund. Ketch unitholders will receive 0.565 of an Advantage unit for each Ketch unit held.
The combined trust is expected to be one of the largest natural gas weighted trusts in North America with an initial enterprise value of approximately $2.3 billion. Both Advantage and Ketch are conventional oil and gas royalty trusts based in Calgary.
Advantage was represented by Burnet, Duckworth & Palmer LLP in Canada with a team comprised of Jay Reid, Grant Zawalsky, Shannon Gangl, James Kidd and Spencer Coupland (corporate), John Brussa and Jeff Fortin (tax), Alicia Quesnel (regulatory), Gina Ross (employment) and Dan McDonald (litigation), and by Paul, Weiss, Rifkind, Wharton & Garrison LLP in the US with a team comprised of Ted Maynard and Judith Thoyer (corporate) and David Mayo and Mashiho Yuasa (tax).
Ketch was represented by Osler, Hoskin & Harcourt LLP with a team comprised of Noralee Bradley, Colin Berryman and Tonya Fleming (corporate), Don Watkins, Q.C., Stan Ebel, Bill Corcoran and Paul Seraganian (Canadian and US tax), Kevin Cramer and Sach Davé (US corporate), Tris Mallett (litigation) and Peter Glossop and John Quinn (regulatory).