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Head Office
Sun Life Plaza, West Tower
Suite 2100, 144 - 4th Avenue SW
Calgary, Alberta T2P 3N4
T: 403.266.6900
24 Hour TF Emergency: 1.403.266.6900
F: 403.266.6988
E-mail: ir@daylightenergy.ca
Investors who choose to purchase units from the OTC Bulletin Board will find Daylight Resources Trust under the symbol DAYYF.
Daylight Resources Trust is a high quality balanced natural gas and oil medium-sized conventional royalty trust, anticipating to produce 22,500 to 23,500 boe per day with headquarters in Calgary, Alberta. The Trust was formed as a result of the merger between Daylight Energy Trust and Sequoia Oil & Gas Trust on September 21, 2006. Daylight Resources' trust units commenced trading on the Toronto Stock Exchange on Tuesday, September 26, 2006 under the symbol DAY.UN with an 8.5% convertible debenture trading under the symbol DAY.DB.
Midight Oil and Gas Ltd.
http://www.midnightoil.ca/
Midnight was a successful E&P company focused on natural gas that grew from zero production at its launch in May 2000 to 3,750 boe per day and a market capitalization of $250 million in Q3 2004. The majority of Midnight's production growth came through successful drilling of internally generated prospects. Midnight's high-quality, growth-oriented assets were concentrated in the highly gas-prospective regions of west central Alberta and the Alberta Deep Basin. Midnight's experienced senior management team formed most of the senior management team of Daylight Energy Trust.
The Vintage Acquisition
On September 23, 2004 Midnight announced it was purchasing the assets of Vintage Petroleum Canada Inc. for $322.5 million. Vintage's production totalled approximately 12,000 boe per day and included high-quality natural gas and light-gravity crude oil properties in West Central Alberta, the Peace River Arch of Alberta and northeast British Columbia. Several of the Vintage properties were geographically complementary to Midnight. In making the acquisition, Midnight's management team recognized that the generally under-capitalized Vintage assets were highly amenable to significant value-creation through a mix of optimization, exploitation and development drilling activities. The acquisition closed November 30, 2004.
New Exploreco
Under the Plan of Arrangement, undeveloped lands of an exploratory, higher-risk and growth-oriented nature, plus a modest base of production and reserves, were organized into a new exploration company, Midnight Oil Exploration Ltd. Shareholders of Midnight Oil and Gas Ltd. received shares in the new exploreco, which was launched with 26,327,829 common shares. Daylight and the new Midnight have undertaken to perform joint ventures to explore a number of high-impact prospects on Daylight's lands.
Management Team
The members of Daylight’s senior management team bring with them decades of experience in all aspects of oil and natural gas operations, corporate management and business plan execution. In particular, the management team has longstanding personal familiarity and a track record of success in the geological and geographical location of Daylight’s key producing assets. Several of Daylight’s major properties began as exploration discoveries or development projects operated by Midnight Oil and Gas Ltd. under the same senior management team.
Fred Woods | Executive Chairman
Mr. Woods has been Executive Chairman of Daylight Energy since December 2004 and is currently a member of the Board of Governors for the Canadian Association of Petroleum Producers (CAPP). Prior thereto, he was President, Chief Executive Officer and a Director of Midnight Oil & Gas Ltd. or its predecessor since July 2000. From March 1997 to May 2000, Mr. Woods was President and Chief Operating Officer of Ulster Petroleums Ltd. (an intermediate oil and gas company).
Anthony Lambert | President, CEO and Director
Mr. Lambert has been the President and Chief Executive Officer of Daylight Energy since December 2004; prior thereto, Mr. Lambert was Vice President, Operations, Chief Operating Officer and a Director of Midnight Oil & Gas Ltd. or its predecessor since July 2000. From August 1995 to May 2000, Mr. Lambert was the Vice President, Operations of Ulster Petroleums Ltd.
Rick Orman | Lead Director
Mr. Orman currently serves as Vice Chairman and director of Novatel Inc. (NASDAQ). He has been in the energy industry for over 30 years, holding positions in both the public and private sectors. From 1986 to 1993, Mr. Orman served as a member of the Alberta Legislature and held the porfolios of Employment (86-88), Labour (88-89) and Energy (89-92). From 1994 to 1999, Mr. Orman was founder, Chairman and CEO of Kappa Energy Inc. (TSE). He co-founded Exceed Energy Inc. (TSX.V) in March 2003 and served as Executive Vice Chairman until September 2005.
Peter Harrison | Director
Mr. Harrison is Senior Vice President, Canadian Equities for Montrusco Bolton, responsible for the Canadian equity portfolios and a member of Montrusco Bolton’s Asset Mix Committee. Mr. Harrison has worked in the investment industry for 25 years. Prior to joining Montrusco Bolton in December 1997, he was with CN as a portfolio manager, venture capital specialist, manager of direct oil and gas investments and head of Canadian equities. He has also worked for Alcan as a portfolio manager and at Montreal Trust in equity and bond trading.
Duane Keinick | Director
Mr. Keinick holds a Bachelor of Arts degree from the University of Calgary. In addition, he had a distinguished career at Canadian Imperial Bank of Commerce (a financial institution), spanning 38 years. Mr. Keinick joined the oil and gas group in 1982 as Vice President, Corporate Credit, advancing to Senior Vice President, Corporate Credit in 1986. In 1998, Mr. Keinick was appointed as Senior Vice President and Managing Director of CIBC World Markets Inc. where he advised on major oil and gas transactions over the past seven years before retiring at the end of December 2005.
Jeff Tonken | Director
Mr. Tonken is currently the President of Birchcliff Energy Ltd. Prior thereto, Mr. Tonken was the President and Chief Executive Officer of Case Resources Inc., which was acquired by Fairborne Energy Ltd. in July 2004. Prior to Case Resources, Mr Tonken was President and Chief Executive Officer of Big Bear Exploration Ltd., which was acquired by Avid Oil & Gas in January 2000. Prior thereto, Mr Tonken founded Stampeder Exploration Ltd. in 1987, which traded on the New York, Toronto, Alberta and Montreal Stock Exchanges. Stampeder was acquired by Gulf Canada Resources in 1997 for an aggregate price in excess of $1.3 billion. Mr Tonken was a partner at Borden Ladner Gervais, practising commercial and corporate law for 12 years. Mr Tonken is a past director of the Canadian Association of Petroleum Producers (CAPP).
Auditors
KPMG LLP
Chartered Accountants
Calgary, Alberta
Legal Counsel
Burnet, Duckworth & Palmer LLP
Calgary, Alberta
Evaluation Engineers
GLJ Petroleum Consultants Ltd.
Calgary, Alberta
Bankers
Canadian Imperial Bank of Commerce
The Bank of Nova Scotia
BNP Paribas
Transfer Agent
Valiant Trust Company
Calgary, Alberta
http://www.valianttrust.com/
Investor Relations Contacts
Scott Daniel
Manager, Investor Relations & Treasury
T: 403.218.6885
TF: 1.877.266.6901
F: 403.266.6988
E-mail: sdaniel@daylightenergy.ca
