Payable

Calgary-based Provident Energy Trust has acquired all of the outstanding shares of Olympia Energy Inc. and Viracocha Energy Inc. The transactions are payable through Provident units, exchangeable shares and the assumption of existing debt and working capital. With the new acquisitions, Provident estimates its annual production will be 30,000 boe/d. Based on an independent engineering review, Provident’s proved reserves will increase 46% to 51.8 MMboe from 35.5 MMboe, with a proved developed reserve life index (RLI) of 4.6 years. Proved reserves will increase 48% to 62.1 MMboe from 41.8 MMboe, with a proved RLI of 5.9 years. Proved plus probable reserves will increase 49% to 81.6 MMboe from 54.9 Mboe, with proved plus probable RLI of 6.2 years. Provident is an open-ended energy income trust that owns and manages an oil and gas production business and a midstream services business. Its energy portfolio is focused in Western Canada.