Mr. Brent Heinz

"I don't know if (2005) will be a bigger year than 2004, because we had some pretty big deals last year," says Brent Heinz, associate with Sayer Securities.
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Heinz said that was the highest price recorded since Sayer Securities began tracking M&A activity in the late 1980s.
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Heinz doesn't believe that higher per-boe acquisition prices will deter companies from buying reserves rather than exploring for them.

"I don't think the increase is going to have a big impact on M&A activity in the energy sector.The (acquisition) price has increased, but it also depends on what your finding and development costs work out to be," he says.

The price of assets in Canada has risen by almost two-thirds in the past two years as the availability of properties has dwindled, said Brent Heinz, vice-president of Sayer Energy Advisors, a Calgary consultancy.

'Buyers will need to be aggressive in order to secure production through acquisitions via the public auction process,' Mr. Heinz said in a report yesterday.

To receive further information on the Company or to schedule a time to visit the Data Room, which is situated at the Sayer office, please contact Tom Pavic, Brent Heinz or Alan Tambosso at 403.266.6133.

The price of assets in Canada has risen by almost two-thirds in the past two years as the availability of properties has dwindled, said Brent Heinz, vice-president of Sayer Energy Advisors, a Calgary consultancy.

,Buyers will need to be aggressive in order to secure production through acquisitions via the public auction process,, Mr. Heinz said in a report Wednesday.