Enerplus Raises $220 Million Through Sale of Non-Core Production

CALGARY, Nov. 1, 2012 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF) 
(NYSE: ERF) is pleased to announce that it has entered into an agreement today 
to sell all of our working interests in our producing assets located in 
Manitoba for gross proceeds of approximately $220 million. 
The assets, located in the Virden/Daly region of Manitoba, are currently 
producing approximately 1,600 bbls/day of crude oil under waterflood from 
seven units and other various non-unit interests. A total of 8.4 million 
barrels of estimated proved plus probable reserves are attributable to these 
properties. Given the limited near-term growth potential under our current 
capital allocation plans, along with the high recovery of oil to date and 
lower working interests, these assets were considered non-core to our 
long-term business strategy. 
"Improving the focus, concentration and profitability of our business is 
critical to our future success," says Gordon Kerr, President & Chief Executive 
Officer. "The sale of these assets will reduce our debt levels thereby 
improving our financial flexibility and allowing us to focus our investment in 
core areas that we believe have better growth potential and superior 
economics." 
The transaction is expected to be accretive to cash flow and production per 
debt adjusted share. The selling price reflects favourable valuation metrics 
of approximately 7x cash flow, approximately $138,000 per flowing barrel and 
$28.70/bbl of proved plus probable reserves including future development 
capital. 
The sale is subject to financing and customary closing conditions and is 
expected to close before the end of December 2012. 
Results for the third quarter of 2012 are scheduled to be released on Friday, 
November 9(th) at 4:00 AM MT (6:00 AM ET) followed by a conference call to 
discuss our results. Details of the conference call are as follows: 
Date:           Friday, November 9, 2012 
Time:           9:00 AM MT/11:00 AM ET 
Dial-In:        1-647-427-7450    
            1-888-231-8191 (toll free) 
Conference      50540263
Call ID: 
Audiocast:      http://www.newswire.ca/en/webcast/detail/1054731/1146491 
Gordon J. Kerr
President & Chief Executive Officer
Enerplus Corporation 
Cautionary Note Regarding Forward-Looking Information and Statements 
Except for the historical and present factual information contained herein, 
the matters set forth in this news release, including words such as "expects", 
"projects", "plans", "believes" and similar expressions, are forward-looking 
information. Forward looking information in this news release includes the 
anticipated timing and proceeds to be received form the completion of the 
transaction and the anticipated accretion to Enerplus' cash flow and 
production per share and the growth potential of Enerplus' other projects. The 
projections, estimates and beliefs contained in such forward-looking 
statements necessarily involve known and unknown risks and uncertainties, 
which may cause Enerplus' actual performance and financial results in future 
periods to differ materially from any projections of future performance or 
results expressed or implied by such forward-looking statements. These risks 
and uncertainties include, among other things, the failure to satisfy all 
financing and closing conditions, inaccurate estimates of the value and 
accretion resulting from the transaction and the failure to realize the 
anticipated benefits of Enerplus; other projects, as well as those described 
in Enerplus' filings with the Canadian and U.S. securities authorities. 
Accordingly, holders of Enerplus shares and potential investors are cautioned 
that events or circumstances could cause results to differ materially from 
those predicted. 
please call 1-800-319-6462 or e-mailinvestorrelations@enerplus.com 
SOURCE: Enerplus Corporation 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/November2012/01/c4257.html 
CO: Enerplus Corporation
ST: Alberta
NI: OIL CONF  
-0- Nov/01/2012 21:01 GMT
 
 
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