Contents

MEASURING THE RESOURCE PLAY UPSIDE 3
APPENDIX I: PROJECT ECONOMIC SNAPSHOT 7
APPENDIX II: RANKING THE PROJECTS 15
APPENDIX III: PROJECT PROFILES 17
Advantage Oil & Gas (AAV) 18
ARC Energy Trust (AET.un) 20
Baytex Energy Trust (BTE.un) 24
Bonavista Energy Trust (BNP.un) 32
Canadian Oil Sands Trust (COS.un) 34
Crescent Point Energy Corp (CPG) 36
Daylight Resource Trust (DAY.un) 42
Enerplus Resource Fund (ERF.un) 46
Fairborne Energy Ltd. (FEL) 50
NAL Oil & Gas Trust (NAE.un) 56
Paramount Energy Trust (PMT.un) 60
Penn West Energy Trust (PWT.un) 62
Progress Energy Resources Corp. (PRQ) 68
Provident Energy Trust (PVE.un) 70
Trilogy Energy Trust (TET.un) 74
Vermilion Energy Trust (VET.un) 76