Petrowest Energy Services Trust Completes IPO

On September 7, 2006 Petrowest Energy Services Trust completed its $140 million initial public offering and commenced trading on the Toronto Stock Exchange under the symbol “PRW.UN.” Immediately following the completion of the offering, Petrowest completed the acquisition of nine formerly private businesses that focus on pre-drilling and post-completion energy services and are based in Grande Prairie, Alberta. Petrowest is positioned to be a leading provider of pre-drilling and post-completion energy services to the northern region of the western Canadian sedimentary basin. The offering was conducted by an underwriting syndicate co-led by Westwind Partners Inc. and Sprott Securities Inc. that included Lightyear Capital Inc., Blackmont Capital Inc. and Dundee Securities Corporation.

Petrowest was represented by Bennett Jones LLP with a team led by Brad Markel (Securities and M&A) that included Dustin Gemmill, John Piasta, David Dorrans, Kristos Iatridis, Brendan Hart and Kwang Lim (securities and M&A) and Greg Johnson and Cam Danyluk (tax). Dorsey & Whitney LLP represented by Kimberley Anderson acted as United States counsel to Petrowest. The underwriters were represented by Stikeman Elliott LLP with a team led by Craig Story that included Martin Mix and Kristi Kasper (securities and M&A) and David Weekes (tax). The shareholders of the companies acquired by Petrowest were represented by Macleod Dixon LLP with a team that included Don Tse, Tricia Chrzanowski, Beth Nickless and Dion Legge.