DOMINION RESOURCES STILL SELLING-OFF OPERATIONS

(05/31/2007)

Dominion Resources Inc. is selling its Canadian natural gas and oil exploration and production operations to Paramount Energy Trust and Baytex Energy Trust, both of Calgary, Canada. The price tag is $583 million. The Richmond, Virginia-based energy company previously announced a plan to refocus on electric generation and energy distribution, transmission, storage and retail operations. In April, Dominion sold nearly all of its offshore exploration and production operations in the Gulf of Mexico. It was purchased by Italian energy company Eni for about $4.76 billion. Dominion still says it plans to keep its Appalachian basin exploration and production operations, which contain about 15 percent of the company's proved reserves. That would include operations in central West Virginia.

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