Paramount Resources Completes US $125M Offering

On June 29, 2004, Paramount Resources Ltd. completed an offering in the US of an aggregate principal amount of US$125 million 8 7/8 per cent senior notes due 2014. The offering was completed under a US$300 million shelf registration statement and prospectus filed prior to the offering. The underwriters for the offering were UBS Investment Bank, Harris Nesbitt, CIBC World Markets and Scotia Capital. Paramount used the proceeds of the offering to acquire oil and natural gas assets in the Kaybob area in central Alberta, the Fort Liard area in the Northwest Territories and northeast British Columbia—all core areas for Paramount.

Paramount was represented in Canada by in-house counsel Charles Morin, and by Macleod Dixon, with a team that included Kevin Johnson, Marcus Archer and Jamie Gagner (securities), Richard Borden (banking), Alan Harvie (environmental) and Edward Heakes and Darren Hueppelsheuser (tax). In the US, Paramount was represented by Torys, with a team that included Andrew Beck, Dan Miller and Hilary Paterson (securities), Jeff Gracer (environmental), and Peter Keenan and Pam Petree (tax).

The underwriters were represented in Canada by Osler, Hoskin & Harcourt, with a team that included Stan Magidson, Robert Lando and Pierre Magnan (securities), Lorne Carson and Michael Matheson (lending) and Monica Biringer (tax). In the US, the underwriters were represented by Cahill Gordon & Reindel, with a team that included Richard Farley, Corey Wright, Joe Lucosky and Jeremy Hazan (securities), Robert Hallman (environmental) and Howard Adams (tax).