CALGARY, Dec. 20 /CNW/ - Enerplus Resources Fund (the "Fund") (TSX -
ERF.un, NYSE - ERF) is pleased to announce that a cash distribution in
the amount of CDN$0.18 per unit will be payable on January 20, 2011 to
all Unitholders of record on December 31, 2010. The ex-distribution
date for this payment is December 29, 2010.
The CDN$0.18 per unit distribution is equivalent to approximately
US$0.18 per unit if converted using a Canadian/US dollar exchange ratio
of 1.01. The U.S. dollar equivalent distribution will be based upon the
actual Canadian/US exchange rate applied on the payment date and will
be net of any Canadian withholding taxes that may apply.
Holders of Enerplus Exchangeable Limited Partnership Class B units of
record on December 31, 2010 will be eligible to receive a distribution
of CDN$0.0765 per unit on January 20, 2011 based on the exchange ratio
of 0.425 of a Fund trust unit for each Enerplus Exchangeable Limited
Partnership Class B unit.
Earlier this month, the Fund received both Unitholder and court approval
to convert from an income trust to a corporation named Enerplus
Corporation, pursuant to a plan of arrangement under the Business
Corporations Act (Alberta) and related transactions. The corporate
conversion is expected to be completed on January 1, 2011. The
distribution payable on January 20, 2011 will be the last cash
distribution paid by the Fund to all trust Unitholders and holders of
exchangeable partnership units. The first dividend to all Enerplus
shareholders of record on February 10, 2011 is expected to be paid on
February 20, 2011.
Electronic copies of our financial statements, press releases, and other
public information are available on our website at www.enerplus.com.
Gordon J. Kerr
President & Chief Executive Officer
Enerplus Resources Fund
Except for the historical and present factual information contained
herein, the matters set forth in this news release, including words
such as "expects", "projects", "plans" and similar expressions, are
forward-looking information that represents management of Enerplus'
internal projections, expectations or beliefs concerning, among other
things, future operating results and various components thereof or the
economic performance of Enerplus. The projections, estimates and
beliefs contained in such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause
Enerplus' actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. These risks
and uncertainties include, among other things, those described in
Enerplus' filings with the Canadian and U.S. securities authorities.
Accordingly, holders of Enerplus Trust Units and potential investors
are cautioned that events or circumstances could cause results to
differ materially from those predicted.
SOURCE Enerplus Corporation
For further information: For further information:
please contact Investor Relations at 1-800-319-6462 or e-mail firstname.lastname@example.org.