Canadian royalty trust Enerplus Resources Fund, Calgary, (Toronto, NYSE: ERF) has closed the acquisition of privately held, U.S.-based Sleeping Giant LLC for US$91.6 million including estimated debt and working capital. The transaction was funded through existing credit facilities. The acquired assets include additional working interests in the Sleeping Giant light crude oil project in Montana, which increases the company's ownership in this project to approximately 70% working interest. Enerplus gained interests in Sleeping Giant with its recent purchase of Lyco Energy Corp., Dallas. The properties have current production of approximately 1,700 barrels of oil equivalent per day (90% oil). The acquisition also includes some gross 7.1 million barrels of oil equivalent of proved-plus-probable reserves. Cosco Capital Management LLC was advisor to Sleeping Giant's owners, which included Cosco affiliate Cosco Investments LP. "This marks the culmination of our nine-year association with Sleeping Giant's Bakken Shale play, which began when my partner, Cameron Smith, assisted the late Bob Robinson and Dick Findley, the project's originators, to establish a joint venture with Lyco Energy to lease and develop the project," says Cosco managing director Bill Weidner.