Enerplus Resources Fund, headquartered in Vancouver, paid C$104million for 100% of the outstanding shares of an undisclosedprivate Canadian pension resource corporation that owns producingoil and natural gas properties in Western Canada. The propertiesproduced approximately 2,650 boe/d in a three-month period endingSept. 30. The production included 1,740 bbl/d of crude oil andnatural gas liquids and 9,100 Mcf/d. Average third quarterproduction represents a 22% increase over Enerplus’ third quarteraverage of 12,014 boe/d. Total established reserves are 12,248 Mbblof crude oil and natural gas liquids and 70.7 Bcf, for a total of19,312 Mboe. The deal was funded through a combination of cash fromexisting credit facilities and the assumption of debt, whichtotaled 75% of the purchase price. The rest was financed withEnerplus Trust Units.

Spain’s second largest power company, Iberdrola SA, has beenawarded a contract to build, own and run a combined-cycle 1,036 MWpower plant in Altamira, Mexico for $590 million. The Spanishutility will sell electricity in Mexico for 25 years under thecontract. Investment in the plant will be spread over 2001 and2003, and it is expected to be operational in May 2003, accordingto Iberdrola.

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