Enerplus also owns a diversified portfolio of other conventional oil and natural gas assets across western Canada. These properties are diversified by commodity and are mixed between both operated and non-operated oil and natural gas projects which are generally smaller in nature and consist of various reservoir types. Enerplus operates approximately 70% of these assets. Major conventional assets include the Chinchaga, Valhalla, Hayter, Progress and Shorncliff properties in Alberta.

Approximately 33% of our daily production and 23% of our proved plus probable reserves are attributable to this category. In 2007, we invested approximately $114 million on capital development activities on this play type including the drilling of 182 gross wells (46.8 net). Our average daily production in 2007 for this play type was 31,143 BOE/day.

In 2008, Enerplus expects to spend approximately $142 million on a variety of oil and natural gas projects, both operated ($100 million) and non-operated ($42 million). Enerplus currently intends to spend just under $20 million on operated oil optimization activities and equipment upgrades at Bantry North and South and almost $20 million at its oil properties in southeast Saskatchewan, primarily on horizontal drilling in an attempt to extend the boundaries of those assets. We anticipate that the remainder of the operated capital will be spent on a variety of smaller prospects in Alberta and British Columbia.