Enerplus Resources Fund (2)
SymbolERF.UN
Shares Issued174,046,876
Close 2009-11-12C$ 24.08
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Enerplus earns $38.18-million in third quarter

2009-11-13 10:53 ET - News Release

Mr. Gordon Kerr reports

ENERPLUS REPORTS THIRD QUARTER RESULTS FOR 2009

Enerplus Resources Fund has released operating and financial results for the third quarter of 2009 that continue to meet or exceed operating targets, execute on growth strategies and maintain balance sheet strength. Full copies of the third quarter 2009 financial statements and management discussion and analysis have been filed on the website, under Enerplus's profile on SEDAR, and on the EDGAR website. 

                 SELECTED FINANCIAL RESULTS

                        For the three months     For the nine months
                           ended Sept. 30,          ended Sept. 30,
                         2009         2008         2009         2008
Financial 
(in thousands)
      
Cash flow from
operating activities  $207,211     $383,573     $587,207   $1,004,246
Cash distributions to
unitholders             93,504      224,417      272,651      619,121
Excess of cash flow
over cash
distributions          113,707      159,156      314,556      385,125
Net income              38,182      465,773       86,399      699,397
Debt outstanding --
net of cash            561,218      522,254      561,218      522,254
Development capital
spending                45,417      163,215      180,222      377,485
Acquisitions           192,484        4,574      222,877    1,771,383
Divestments                519      502,489        2,255      504,697
Actual cash 
distributions
paid to unitholders      $0.54        $1.31        $1.69        $3.83

Financial per weighted
average trust units

Cash flow from
operating 
activities               $1.23        $2.33        $3.52        $6.32
Cash distributions 
per unit                  0.55         1.36         1.63         3.89
Excess of cash flow
over cash
distributions             0.68         0.97         1.89         2.42
Net income                0.23         2.82         0.52         4.40
Payout ratio               45%          59%          46%          62%
Adjusted payout
ratio                      68%         102%          78%         100%

Selected financial
results per barrel 
of oil equivalent
      
Oil and gas sales       $35.23       $73.62       $35.36       $72.44
Royalties                (5.56)      (13.71)       (6.10)      (13.54)
Commodity derivative
instruments               4.89        (6.82)        5.08        (5.19)
Operating costs         (10.00)      (10.10)       (9.84)       (9.51)
General and
administrative           (2.21)       (1.50)       (2.18)       (1.66)
Interest and other
income and foreign
exchange                 (0.79)       (1.46)       (0.22)       (1.23)
Taxes                    (0.35)       (0.59)       (0.22)       (1.19)

Asset retirement
       
Obligations settled      (0.31)       (0.54)       (0.34)       (0.52)

Cash flow from 
operating
activities before
changes in non-cash
working capital         $20.90       $38.90       $21.54       $39.60

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