CALGARY, Feb. 19 /CNW/ - ENMAX Corporation ("ENMAX") is pleased to
confirm the information contained in today's announcement by Cordero Energy
Inc (TSX: COR) ("Cordero") regarding ENMAX's proposed acquisition of Cordero
for approximately $218 million, including the assumption of debt.
"This secures long-term natural gas supply for the Calgary Energy Centre,
with which we entered into a 20-year tolling agreement, effective last year,"
said Gary Holden, President and CEO of ENMAX. "This will help supply
competitively priced natural gas and electricity to ENMAX Energy's rapidly
growing customer base and is consistent with our long-term vertical
Peters & Co. Limited acted as financial advisor to ENMAX and Tristone
Capital Inc. acted as financial advisor to Cordero on the transaction.
ENMAX Corporation and its predecessors have provided Albertans with safe,
reliable electricity for more than 100 years. Through its subsidiaries, ENMAX
provides electricity, natural gas, renewable energy and value-added services
to more than 500,000 residential, commercial and institutional customers in
Alberta. ENMAX Energy Corporation contracts low-cost reliable electricity from
the Keephills and Battle River facilities and meets peak demand through a long
term agreement for the Calgary Energy Centre. ENMAX, through a subsidiary, is
one of Alberta's largest investors in renewable energy with 100 per cent
ownership of the Taber Wind Farm and 50 per cent ownership of the McBride Lake
Wind Farm. ENMAX Energy has the largest green power marketing program of its
kind in Canada. For more information, visit our website at enmax.com.
You can choose any retailer listed at www.ucahelps.gov.ab.ca or at
310-4822. Electricity delivery to your home or business isn't affected by your
choice of retailer.
For further information:
For further information: Peter Hunt, VP, Public Affairs, ENMAX
Corporation, (403) 689-6150