CALGARY, Aug. 20, 2012 /CNW/ - Enerplus Corporation
("Enerplus" or the "Corporation") (TSX: ERF) (NYSE: ERF) is pleased
to announce that we have entered into an agreement to sell all of
our shares in Laricina Energy Ltd. ("Laricina") for net after tax
proceeds of approximately $141
million. Laricina is a private Canadian company
focused on in situ oil sands development. Proceeds from the
sale will be used to repay outstanding bank indebtedness.
Commenting on the transaction, Gordon
Kerr, President and CEO said, "This is an important step in
our plans to monetize non-core assets within our portfolio to fund
the growth opportunities we have captured and preserve our balance
sheet flexibility."
BMO Capital Markets acted as agent for Enerplus
in the sale of the Laricina shares.
Gordon J.
Kerr
President & Chief Executive Officer
Enerplus Corporation
FORWARD-LOOKING INFORMATION AND STATEMENTS
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
shares and potential investors are cautioned that events or
circumstances could cause results to differ materially from those
predicted.
SOURCE Enerplus Corporation