Introduction    Welcome to Enerplus    2001 Highlights    President's Message    Review of Operations    M D & A    Management's Responsibility    Auditors' Report    Financial Statements and   Notes    Supplemental Information    Corporate Information    Abbreviations   Complete Annual Report

2001 Annual Report > Welcome to Enerplus Created in 1986, ENERPLUS RESOURCES FUND offers investors the benefits of owning a diversified portfolio of crude oil and natural gas producing properties,without the exploration risks commonly associated with the energy industry. Enerplus invests in mature crude oil and natural gas producing properties with predictable production profiles, long reserve life indices, high cash netbacks, and opportunities for low risk development. The net cash flow from these properties is distributed to Unitholders on a monthly basis, providing investors with a superior investment within the energy sector. Timeline 1985 -    Enerplus Global Energy Management (EGEM) is created to launch first royalty trust in Canada 1986 - Enerplus Resources Fund completes a $9 million IPO and begins operating as Canada's first oil and gas royalty trust 1987 - Enerplus Resources Fund initiates Series B and completes a $50 million IPO 1988 - Enerplus Resources Fund completes another successful IPO with Series C raising $75 million 1989 - Enerplus Resources Fund launches Series D raising $26 million 1990 - Enerplus Resource Fund completes $17 million rights issue 1993 - Enerplus mergers Series A, B, C, and D into one fund, Series G and changes to open ended fund 1994 - EGEM acquires contracts to manage two additional trusts Westrock Energy Income Funds I & II 1995 - Enerplus and Westrock Funds acquire $68 million in assets 1996 - EGEM converts Mark Resources, a $500 million energy company, into EnerMark Income Fund; $180 million raised through equity financings 1997 - EnerMark acquires Quest Oil & Gas and concludes a $100 million equity finanacing 1999 - The Enerplus Group raises $51 million through rights issues; purchases Derrick Energy and concludes $27 million finanacing 2000 - The Enerplus Group acquires over $850 million in assets; El Paso Energy acquires EGEM; Enerplus Resources Fund merges with the Westrock Funds and becomes the first Canadian royalty trust to trade on the New York Stock Exchange 2001 - Enerplus Resources Fund and EnerMark Income Fund Merge to create the largest conventional oil and gas income fund in North America with an enterprise value of over $2 billion

Enerplus Resources Fund Copyright 2002