On June 27, 2005, StarPoint Energy Trust and APF Energy Trust completed a merger into a single trust to be continued under the name StarPoint Energy Trust. The acquisition of APF Energy Trust, for consideration totalling approximately C$953 million, was satisfied through the issuance of trust units of StarPoint Energy Trust and the assumption of bank debt and convertible debentures of APF.
Prior to the merger, in a transaction completed on June 21, 2005, APF sold certain oil and gas assets to Rockyview Energy Inc., a newly formed public exploration corporation that was spun off to APF’s unitholders.