RICHMOND, Va., June 26 /PRNewswire-FirstCall/ -- Dominion (NYSE: D)
today announced it has closed the sale of its Canadian natural gas and oil
exploration and production operations. This is one of several closings of
previously announced asset sales.
    The Canadian operations were sold to Paramount Energy Trust and Baytex
Energy Trust, both of Calgary, Canada, for a total of approximately U.S.
$624 million based on currency exchange rates as of the close of business
June 25, 2007. The operations include approximately 267 billion cubic feet
equivalent (Bcfe) of proved natural gas and oil reserves in western Canada
as of Dec. 31, 2006, with 2006 average daily production of approximately 60
million cubic feet equivalent (MMcfe).
    Scotia Waterous and Juniper Advisory LP were Dominion's financial
advisers and Stikeman Elliott LLP is the company's legal adviser for the
sale.
    Dominion is in the process of selling all of its E&P operations except
those in the Appalachian Basin as part of its previously announced plan to
refocus the company on the power generation and energy distribution,
transmission, storage and retail businesses.
    Dominion is one of the nation's largest producers of energy, with a
portfolio of more than 26,500 megawatts of generation and 7,800 miles of
natural gas transmission pipeline. Dominion also owns and operates the
nation's largest underground natural gas storage system with about 960
billion cubic feet of storage capacity and serves retail energy customers
in 11 states. For more information about Dominion, visit the company's Web
site at http://www.dom.com.

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