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2008 Performance

2008 Performance Review

Financial Highlights ($CDN - millions)
Revenue 1,706.4
Per Unit 7.90
Per boe 71.59
Cash flow 944.4
Per unit 4.37
Per boe 39.62
Net Income 533.0
Per unit 2.50
Net Debt Outstanding 961.9
Market Capitalization 4,405.9
Enterprise Value 5,367.82
Cash Distributions 570.0
Per unit 2.67
Cash withheld 374.4
Payout Ratio 60
Total Return (Inception)
Operating Highlights  
Production
Crude Oil (bbl/d) 28,935
Natural gas liquids(bbl/d) 3,861
% split 50
Natural gas (mmcf/d) 196.5
% split 50
Total production (boe/d) 65,126
Average Prices ($CDN)
Crude oil ($bbl) 94.20
Natural gas ($mcf) 8.58
Natural gas liquids ($bbl) 69.71
Oil equivalent ($boe) 71.25
Netback
Commodity & other revenue 71.59
Royalties (12.91)
Operating Costs (10.93)
Netback 47.75
Wells Drilled  
Oil Wells
Natural Gas Wells
Dry Holes
Total
% success 99
Trust Unit Highlights (thousands)
Units outstanding
Exchangeable shares
Total outstanding 219.2
Weighted average units 216.0
Trust unit trading stats ($CDN)
High 33.95
Low 15.01
Close 20.10
Average daily volume 975
Reserves Highlights
Based on Company Interest
Proved Reserves
Crude oil & NGL's (mbbl) 118,806
Natural gas (bcf) 746.9
Total oil equivalent (mboe) 243,292
Proved + Probable Reserves
Crude oil & NGL's (mbbl) 153,020
% split 48
Natural gas (bcf) 1,012.2
& split 58
Total oil equivalent (mboe) 321,723
Reserve Life Index 13.8
Expenditures ($CDN - 000's)
Capital expenditures 548.6
Net acquisitions 51
Total expenditures 599.6
FD&A Costs (per boe)
G&A expenses 61.2