OPPORTUNITIES TODAY...

Our asset base has a deep inventory of attractive development prospects which help to maintain production volumes and offset natural declines. Our acquisition activity replenishes our inventory ensuring that we have on-going organic production replacement opportunities.

70 %
of our 2008 capital program is dedicated to resource plays

AND FOR THE FUTURE

Oil Sands

Enerplus has a portfolio of oil sands assets that feature both steam assisted gravity drainage and mining potential. Through this portfolio we have over 500 million barrels of contingent oil sands resources and future production potential of over 60,000 bbls/day of bitumen.

60,000
bbls per day of production growth potential from oil sands

Kirby

100% operated working interest steam assisted gravity drainage project
Strategic oil sands asset in the Athabasca fairway in close proximity to existing oil sands projects and infrastructure
Initial development plans - 10,000 bbls/day of bitumen with first production in 2012
Best estimate contingent bitumen resource of 244 MMBOE
Geologic characteristics of the bitumen reservoirs show channel and valley fill deposits in the McMurray and Wabiskaw 'D' formations without an "thief" zones
Expansion capability to 30,000 - 40,000 bbls/day

Joslyn

15% non-operated working interest steam assisted gravity drainage and mining project
New third party mining report indicates increased contingent resource estimate as entire lease could be deemed mineable

SAGD Phase II

10,000 bbls/day gross production project (1,500 bbls/day net to Enerplus) with commercial production expected in 2009
Additional well-pairs required to achieve production targets

Mining

Two 100,000 bbl/day gross mining projects currently planned for the lease (30,000 bbls/day net to Enerplus)
Full lease development plan including capital investment estimates expected later in 2008

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