Document:

exv10w3

 

Exhibit 10.3

WARRANT

TO PURCHASE COMMON UNITS

OF

ENSOURCE ENERGY INCOME FUND LP

     This Warrant to Purchase Common Units
(this “Warrant”) is issued                
          
               , 2005 by
Ensource Energy Income Fund LP, a Delaware limited partnership (the “Partnership”), to Ensource
Energy Partners, LP, a Delaware limited partnership (the “Holder”).

     1. Issuance of Warrant; Term. In consideration of the sum of FIFTY THOUSAND DOLLARS
($50,000), the Partnership hereby grants to Holder, subject to the provisions hereinafter set
forth, the right to purchase One Million (1,000,000) common units representing limited partner
interests of the Partnership (the “Common Units”). The Common Units issuable upon exercise of this
Warrant are hereinafter referred to as the “Units.” This Warrant shall be immediately exercisable
on the date of issuance.

     2. Exercise Price. The exercise price per unit for which all or any of the Units may
be purchased pursuant to the terms of this Warrant shall be equal to $36.40 (the “Exercise Price”),
subject to adjustments as set forth in Section 5 below.

     3. Exercise.

          (a) This Warrant may be exercised by Holder, from time to time, in whole or in part, upon
delivery of written notice of intent to the Partnership at the address of the Partnership set forth
underneath its signature below or such other address as the Partnership shall designate in written
notice to Holder, together with this Warrant and payment (in the manner described in Section 3(b)
below) for the aggregate Exercise Price of the Units so purchased. Upon exercise of this Warrant as
aforesaid, the Partnership shall as promptly as practicable either (i) execute and deliver to
Holder a certificate or certificates for the total number of whole Units for which this Warrant is
being exercised in such names and denominations as are requested by Holder or (ii) deliver the
total number of whole Units for which this Warrant is being exercised by book-entry transfer
through the Depository Trust Company to Holder in such names and denominations as are requested by
Holder. If this Warrant shall be exercised with respect to less than all of the Units, Holder
shall be entitled to receive a new Warrant covering the number of Units in respect of which this
Warrant shall not have been exercised, which new Warrant shall in all other respects be identical
to this Warrant.

          (b) Payment for the Units to be purchased upon exercise of this Warrant may be made at the
election of the Holder by the delivery of a certified or cashier’s check payable to the Partnership
for the aggregate Exercise Price of the Units to be purchased.

     4. Covenant. The Partnership covenants and agrees that all Units which may be issued
upon exercise of this Warrant will, upon issuance and payment therefor, be legally and validly
issued and outstanding, fully paid and nonassessable.

     5. Certain Adjustments.

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          5.1 Capital Reorganizations, Mergers, Consolidations or Sales of Assets. If at any
time there shall be a capital reorganization (other than a combination or subdivision of Common
Units otherwise provided for herein), a unit exchange (subject to and duly approved by the Board of
Directors of the general partner of the Partnership) or a merger or consolidation of the
Partnership with or into another partnership, or the sale of the Partnership’s properties and
assets as, or substantially as, an entirety to any other person, then, as a part of such
reorganization, unit exchange, merger, consolidation or sale, lawful provision shall be made so
that Holder shall thereafter be entitled to receive upon exercise of this Warrant, during the
period specified in this Warrant and upon payment of the Exercise Price, the number of Units or
other securities or property of the Partnership or the successor partnership resulting from such
reorganization, unit exchange, merger, consolidation or sale, to which Holder would have been
entitled under the provisions of the agreement in such reorganization, unit exchange, merger,
consolidation or sale if this Warrant had been exercised immediately before that reorganization,
unit exchange, merger, consolidation or sale. In any such case, appropriate adjustment (as
determined in good faith by the Board of Directors of the Partnership’s general partner) shall be
made in the application of the provisions of this Warrant with respect to the rights and interests
of Holder after the reorganization, unit exchange, merger, consolidation or sale to the end that
the provisions of this Warrant (including adjustment of the Exercise Price then in effect and the
number of the Units) shall be applicable after that event, as near as reasonably may be, in
relation to any Units or other property deliverable after that event upon exercise of this Warrant.

          5.2 Splits and Subdivisions. If the Partnership at any time or from time to time
fixes a record date for the effectuation of a split or subdivision of the outstanding Units of
Common Units or the determination of the holders of Common Units entitled to receive a dividend or
other distribution payable in additional Units of Common Units or other securities or rights
convertible into, or entitling the holder thereof to receive directly or indirectly, additional
Units of Common Units (hereinafter referred to as the “Common Units Equivalents”) without payment
of any consideration by such holder for the additional Units of Common Units or Common Units
Equivalents, then, as of such record date (or the date of such distribution, split or subdivision
if no record date is fixed), the Exercise Price shall (i) in the case of a split or subdivision, be
appropriately decreased and the number of the Units shall be appropriately increased in proportion
to such increase of outstanding Units and (ii) in the case of a dividend or other distribution, the
holder of the Warrant shall have the right to acquire without additional consideration, upon
exercise of the Warrant, such property or cash as would have been distributed in respect of the
Units of Common Units for which the Warrant was exercisable had such Units of Common Units been
outstanding on the date of such distribution.

          5.3 Combination of Units. If the number of Units of Common Units outstanding at any
time after the date hereof is decreased by a combination or reverse unit split of the outstanding
Units of Common Units, then the Exercise Price shall be appropriately
increased and the number of the Units shall be appropriately decreased in proportion to such
decrease in outstanding Units.

          5.4 Adjustments for Other Distributions. In the event the Partnership shall declare a
distribution payable in securities of other persons, evidences of indebtedness issued by the
Partnership or other persons, assets (excluding cash dividends) or options or rights not referred
to in Section 5.2, upon exercise of this Warrant, Holder shall be entitled to a

2

 

proportionate share
of any such distribution as though Holder was the holder of the number of Units of Common Units of
the Partnership into which this Warrant may be exercised as of the record date fixed for the
determination of the holders of Common Units of the Partnership entitled to receive such
distribution.

          5.5 Certificate as to Adjustments. In the case of each adjustment or readjustment of
the Exercise Price pursuant to this Section 5, the Partnership will promptly compute such
adjustment or readjustment in accordance with the terms hereof and cause a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or
readjustment is based to be delivered to Holder. The Partnership will, upon the written request at
any time of Holder, furnish or cause to be furnished to Holder a certificate setting forth:

               (a) Such adjustment and readjustments;

               (b) The Exercise Price at the time in effect; and

               (c) The number of Units and the amount, if any, of other property at the time receivable upon
the exercise of the Warrant.

          5.6 Notices of Record Date, etc. In the event of:

          (a) Any taking by the Partnership of a record of the holders of any class of securities of the
Partnership for the purpose of determining the holders thereof who are entitled to receive any
dividends or other distribution, or any right to subscribe for, purchase or otherwise acquire any
Units of any class or any other securities or property, or to receive any other right; or

          (b) Any capital reorganization of the Partnership, any reclassification or recapitalization of
the Partnership or any transfer of all or substantially all of the assets of the Partnership to any
other person or any consolidation, unit exchange or merger involving the Partnership; or

          (c) Any voluntary or involuntary dissolution, liquidation or winding up of the Partnership;

the Partnership will mail to Holder at least 20 days prior to the earliest of the foregoing dates,
a notice specifying:

                         (i) The date on which any such record is to be taken for the purpose of such dividend,
distribution or right, and the amount and character of such dividend, distribution or right;
or

                         (ii) The date on which any such reorganization, reclassification, transfer,
consolidation, unit exchange, merger, dissolution, liquidation or winding up is expected to
become effective and the record date for determining unit holders entitled to vote thereon.

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     6. Reservation of Common Units. The Partnership shall at all times reserve and keep
available out of its authorized but unissued Units of Common Units, solely for the purpose of
effecting the exercise of this Warrant, such number of its Units of Common Units as shall from time
to time be sufficient to effect the exercise of this Warrant, and if at any time the number of
authorized but unissued Units of Common Units shall not be sufficient to effect the exercise of the
entire Warrant, in addition to such other remedies as shall be available to the holder of this
Warrant, the Partnership will use commercially reasonable efforts to take such corporate action as
may, in the opinion of its counsel, be necessary to increase its authorized but unissued Units of
Common Units to such number of Units as shall be sufficient for such purpose.

     7. Split-Up, Combination and Exchange. Subject to and limited by the provisions of
Section 4(a) hereof, this Warrant may be split up, combined or exchanged for another Warrant or
Warrants containing the same terms and entitling the Holder to purchase a like aggregate number of
Units. If the Holder desires to split up, combine or exchange this Warrant, the Holder shall make
such request in writing delivered to the Partnership and shall surrender to the Partnership this
Warrant and any other Warrants to be so split up, combined or exchanged. Upon any such surrender
for a split-up, combination or exchange, the Partnership shall execute and deliver to the Holder a
Warrant or Warrants, as the case may be, as so requested. The Partnership shall not be required to
effect any split-up, combination or exchange which will result in the issuance of a Warrant that
would entitle the Holder to purchase upon exercise a fraction of a unit of Common Units or a
fractional Warrant. The Partnership may require such Holder to pay a sum sufficient to cover any
tax or governmental charge that may be imposed in connection with any split-up, combination or
exchange of Warrants.

     8. Transfer Restrictions. This Warrant, and all rights hereunder, are not
transferable, in whole or in part, to any Person (as defined below); provided, however, that this
Warrant may be transferred, in whole or in part, to an “affiliate” (as hereinafter defined) of the
Holder. In no event may this Warrant or the Units be transferred to a transferee that is not
eligible to receive a transfer of Units of Common Units. As used herein, the term “affiliate”
means any individual, partnership, joint venture, corporation, limited liability company,
association, trust, unincorporated organization, government or agency or subdivision thereof or any
other entity (each, a “Person”), directly or indirectly controlling, controlled by or under common
control with the Holder. “Control” means possessing, directly or indirectly, the power to direct
or cause the direction of the management and policies of such Person or the Holder, as applicable,
whether through the ownership of voting securities, by contract or otherwise.

     9. Successors and Assigns. All of the covenants and provisions of this Warrant shall
bind and inure to the benefit of the Partnership’s successors and assigns, and the heirs, legatees,
devisees, executors, administrators, personal and legal representatives, and successors and
permitted assigns of Holder.

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     10. Governing Law; Submission to Jurisdiction and Venue. This Warrant shall be
governed by and construed in accordance with the laws, and not the laws of conflicts, of the State
of Delaware. The Holder hereby consents and agrees to submit (i) to the jurisdiction of the
District Court of the State of Texas located in Harris County or of the United States District
Court for the Southern District of Texas for any action or proceeding brought by the Partnership
arising under this Warrant and (ii) to the venue of such action or proceeding in such courts.

[SIGNATURE PAGE FOLLOWS]

	 	 	 	 	 	 	 
	 	 	ENSOURCE ENERGY INCOME FUND LP
	 
	 	 	 	 	 	 
	 	 	By: ENSOURCE ENERGY PARTNERS, LP,
	 	 	its general partner
	 
	 	 	 	 	 	 
	 	 	By: ENSOURCE ENERGY COMPANY LLC,
	 	 	its general partner
	 
	 	 	 	 	 	 
	 

	 	By: 
	 	 	 	 
	 

	 	 	 	 	 
	 	 	Name: Scott. W. Smith
	 	 	Title: President
	 
	 	 	 	 	 	 
	 	 	Address:
	 	 	7500 San Felipe, Suite 440
	 	 	Houston, Texas 77063

5exv10w5

 

Exhibit 10.5

AGREEMENT AND PLAN OF MERGER

(Ensource Energy Income Fund LP)

     This Agreement and Plan of Merger, dated as of                               , 2005 (this
“Agreement”), is entered into by and among Ensource Energy Income Fund LP, a Delaware
limited partnership (the “Partnership”), and Eastern American Natural Gas Trust, a Delaware
statutory trust (“NGT”). In this Agreement, each of the Partnership and NGT is
individually referred to as a “Party,” and those entities are collectively referred to as
the “Parties.”

W I T N E S S E T H:

     WHEREAS, the Partnership, through Ensource Energy Partners, LP, a Delaware limited partnership
and the Partnership’s sole general partner (the “General Partner”), has implemented a plan
to acquire NGT (the “Acquisition Plan”), and in furtherance of such Acquisition Plan, has
effected an exchange offer pursuant to a registration statement on Form S-4 filed with the
Securities and Exchange Commission (Commission File No. 333-126068) pursuant to which the
Partnership has offered to exchange depositary units of NGT for common units of the Partnership on
a one for one basis (the “Exchange Offer”); and

     WHEREAS, as a result of the Exchange Offer, the Partnership has accepted for exchange, and
owns, a total of ___depositary units representing more than 50% of the outstanding trust units
of NGT, and in furtherance of the Acquisition Plan and in accordance with that certain Second
Amended and Restated Trust Agreement of Eastern American Natural Gas Trust, dated January 1, 1993,
by and among Eastern American Energy Corporation, JPMorgan Chase Bank, as successor-in-interest to
Bank of Montreal Trust Company and trustee (the “Trustee”), and Wilmington Trust Company
(the “Trust Agreement”), the Partnership intends to effect the merger of NGT with and into
the Partnership, with the Partnership continuing as the surviving entity of such merger in
accordance with the terms and conditions set forth in this Agreement; and

     WHEREAS, the General Partner deems it advisable and in the best interest of the Partnership
and its limited partners to effect the contemplated merger, and in connection therewith the General
Partner has authorized, approved and adopted this Agreement; and

     WHEREAS, the Partnership, being a trust unitholder of NGT qualified to call a special meeting
of trust unitholders, has exercised its rights under the Trust Agreement to call a special meeting
of trust unitholders of NGT for the purpose of approving and adopting this Agreement and the
transactions contemplated herein and to effect the Merger (as defined below); and

     WHEREAS, the Trust Agreement requires a vote of at least 50% of all trust units of NGT in
favor of the Merger (as defined below); and

     WHEREAS, the Partnership holds more than 50% of all trust units of NGT, has agreed to vote in
favor of the Merger (as defined below) and, therefore, does not intend to solicit proxies from the
other holders of NGT trust units; and

 

 

     WHEREAS, NGT and the Partnership intend to prepare and provide to the other holders of NGT
trust units a definitive information statement relating to the Merger (as defined below); and

     WHEREAS, the Trustee has approved and adopted this Agreement.

     NOW, THEREFORE, in consideration of the foregoing recitals and the respective representations,
warranties, covenants and agreements herein contained, and intending to be legally bound, the
Parties hereby agree as follows:

ARTICLE I. THE MERGER

     Section 1.1.   The Merger.   Upon the terms and subject to the conditions
contained in this Agreement, and in accordance with Section 211 of the Delaware Revised Uniform
Limited Partnership Act (the “DRULPA”) and Section 3815 of the Delaware Statutory Trust Act
(the “DSTA”), NGT shall be merged with and into the Partnership (the “Merger”) at
the Effective Time (as defined in Section 1.3 of this Agreement). At the Effective Time,
the separate statutory trust existence of NGT shall cease and the Partnership shall continue its
existence as the surviving entity (the “Surviving Entity”).

     Section 1.2.   Closing.   Subject to the satisfaction or waiver of the conditions
to closing set forth in Article III of this Agreement, the consummation of the Merger shall
occur as close in time as possible to, but in no case later than the same day (which shall be a day
upon which the Office of the Secretary of State of the State of Delaware is open for business) as,
the special meeting of NGT trust unitholders at which the Agreement and the transactions
contemplated herein are properly approved and adopted. The consummation of the Merger shall be
effected through a closing held at the offices of Andrews Kurth LLP, 450 Lexington Ave.,
15th Floor, New York, New York 10017, unless another place is agreed upon by the
Parties.

     Section 1.3.   Effective Time.   As soon as practicable after the conditions to
closing set forth in Article III of this Agreement have been satisfied or waived, the
Parties shall (A) file a certificate of merger in the form attached as Annex A to this
Agreement (the “Certificate of Merger”) with the Secretary of State of the State of
Delaware in accordance with Section 211(d) of the DRULPA and Section 3815(b) of the DSTA and (B)
make all other filings or recordings, if any, as shall be required to consummate the Merger under
applicable laws. The Merger shall become effective upon the filing of the Certificate of Merger
with the Secretary of State of the State of Delaware (the date and time of such filing, the
“Effective Time”).

     Section 1.4.   Effects of the Merger.   At and after the Effective Time, the
Merger will have the effects set forth in the DRULPA, DSTA and this Agreement. Without limiting
the generality of the foregoing, and subject thereto, at the Effective Time, all the property
(including, without limitation, all rights, privileges, powers and franchises of NGT shall be
vested in the Surviving Entity, and all debts, liabilities and duties of NGT shall become the
debts, liabilities and duties of the Surviving Entity.

     Section 1.5.   Certificate of Limited Partnership.   At and after the Effective
Time, the certificate of limited partnership of the Partnership, as in effect immediately
prior to the

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Effective Time, shall be the certificate of limited partnership of the Surviving Entity unless and
until thereafter amended in accordance with the terms thereof and applicable laws.

     Section 1.6.   Limited Partnership Agreement.   At and after the Effective Time,
the agreement of limited partnership of the Partnership, as in effect immediately prior to the
Effective Time, shall be the agreement of limited partnership of the Surviving Entity unless and
until thereafter amended in accordance with the terms thereof and applicable laws.

     Section 1.7.   Officers, Managers and Committees of Managers.   At and after the
Effective Time, the individuals serving as the officers, managers, directors and committee members
of the General Partner immediately prior to the Effective Time shall continue to serve in such
capacity for the general partner of the Surviving Entity, each of whom shall hold office subject to
the provisions of the DRULPA and the certificate of limited partnership and agreement of limited
partnership of the Partnership then in effect.

     Section 1.8.   Conversion of NGT Trust Units into Partnership Common Units.   At
the Effective Time, by virtue of the Merger and without any action on the part of any Party or any
holder of the securities of any Party, (i) each trust unit of NGT outstanding immediately prior to
the Effective Time (except for trust units cancelled in accordance with the third sentence of this
Section 1.8) shall be converted into 0.4 common units of the Partnership, subject to any
adjustments thereto, and (ii) each depositary unit of NGT outstanding immediately prior to the
Effective Time that is tendered to the Partnership shall (except for depositary units cancelled in
accordance with the third sentence of this Section 1.8) entitle the person so tendering to
the right to receive one whole (1.0) common unit of the Partnership, subject to any adjustments
thereto, (collectively, the “Merger Consideration”); provided, however, that no common
units shall be issued in fractional part, and in lieu thereof shall be paid in cash in an amount
equal to such fractional part (expressed as a decimal and rounded to the nearest 0.01 of a common
unit) multiplied by the average of the daily volume-weighted average prices, rounded to four
decimal points, of the Partnership common units on the New York Stock Exchange, as reported by
Bloomberg, for the 10 consecutive trading day period commencing on the first trading day on which
the common units trade regular way after the consummation of the Merger. As of the Effective Time,
all trust units, including, but not limited to, those underlying the depositary units, outstanding
immediately prior to the Effective Time shall automatically be cancelled and shall cease to exist,
and any holder of any such trust units, including, but not limited to, those underlying depositary
units, shall cease to have any rights with respect thereto, except the right to receive the Merger
Consideration, without interest. Each trust unit, including, but not limited to those underlying
depositary units, if any, that are held in the treasury of NGT or by the Partnership immediately
prior to the Effective Time shall automatically be cancelled and retired as of the Effective Time
without any conversion thereof into Merger Consideration and without any payment or distribution
being made in respect thereto. Each equity security of the Partnership issued and outstanding
immediately prior to the Effective Time shall remain issued and outstanding at and after the
Effective Time and shall constitute issued and outstanding equity securities of the Surviving
Entity.

ARTICLE II. APPROVAL OF TRUST UNITHOLDERS OF NGT

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     Section 2.1.   Approval by Trust Unitholders.   This Agreement and the
transactions contemplated herein shall be submitted to the holders of trust units of NGT for their
approval, and it shall have no force and effect unless approved by such holders in the manner
provided by the Trust Agreement and the DSTA. The Trust Agreement requires a vote of at least a
majority of all trust units of NGT in favor of the Merger. The Partnership holds more than a
majority of all trust units of NGT and has agreed to vote in favor of the Merger. As a
consequence, neither NGT nor the Partnership intends to solicit proxies from the other holders of
NGT trust units and will, instead, provide them with a definitive information statement relating to
the Merger.

ARTICLE III. CONDITIONS TO THE MERGER; TERMINATION

     Section 3.1.   Conditions to Closing.   The respective obligations of each Party
to effect this Agreement and the transactions contemplated herein shall be subject to the
satisfaction at or immediately prior to the Effective Time of the following conditions:

     (a)      The approval of trust unitholders of NGT at the special meeting as contemplated by
Section 2.1 of the Agreement shall have been obtained.

     (b)      No temporary restraining order, preliminary or permanent injunction or other order issued
by any federal or state governmental authority (including, without limitation, any court of
competent jurisdiction) or any other legal restraint or prohibition preventing the consummation of
the Merger shall be in effect, and there shall not be in effect any law or other binding authority
that would make the consummation of the Merger illegal.

     Section 3.2.   Termination.   This Agreement may be terminated and the Merger
abandoned at any time prior to the Effective Time by the General Partner of the Partnership,
without liability or other consequence to any Party, notwithstanding approval of this Agreement and
the transactions contemplated herein by the trust unitholders of NGT.

ARTICLE IV. MISCELLANEOUS

     Section 4.1.   Amendments.   This Agreement may not be amended except by a
written instrument signed on behalf of each of the Parties.

     Section 4.2.   Governing Law.   This Agreement shall be governed by and construed
in accordance with the laws of the State of Delaware.

     Section 4.3.   Counterparts.   This Agreement may be executed in counterparts,
each of which when so executed shall be deemed to be an original, and such counterparts shall
together constitute one and the same instrument.

     Section 4.4.   Principal Office of Surviving Entity.   The principal office of
the Partnership in the State of Delaware is, and at and after the Effective Time the principal
office of the Surviving Entity in the State of Delaware shall be, care of the Capitol Corporate
Services, Inc., 32 Loockerman Square, Suite 109, Dover, DE 19904.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as of
the date first written above.

	 	 	 	 	 
	 	The Partnership	 
	 	 	 
	 	Ensource Energy Income Fund LP	 
	 	 	 
	 	By:  	Ensource Energy Partners, LP, its sole general partner	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	NGT	 
	 	 	 
	 	Eastern American Natural Gas Trust	 
	 	 	 
	 	By:  	JPMorgan Chase Bank, its trustee	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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Annex A

CERTIFICATE OF MERGER

MERGING

EASTERN AMERICAN NATURAL GAS TRUST

WITH AND INTO

ENSOURCE ENERGY INCOME FUND LP

 

Pursuant to Section 211(d) of the Delaware Revised Uniform Limited Partnership Act

and

Section 3815(b) of the Delaware Statutory Trust Act

 

     In connection with the merger (the “Merger”) of Eastern American Natural Gas Trust, a
Delaware statutory trust (the “Non-Surviving Entity”), with and into Ensource Energy Income
Fund LP, a Delaware limited partnership (the “Surviving Entity”), the Surviving Entity DOES
HEREBY CERTIFY:

     FIRST: The name and jurisdiction of formation or organization of each of the constituent
entities in the Merger are as follows:

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	Jurisdiction of Formation	 
	 	Name of Entity	 	 	Form of Entity	 	 	or Organization	 
	 	Eastern American Natural Gas Trust

	 	 	Statutory Trust
	 	 	Delaware	 
	 	Ensource Energy Income Fund LP

	 	 	Limited Partnership
	 	 	Delaware	 
	 

     SECOND: An Agreement and Plan of Merger governing the Merger has been approved and executed by
each of the constituent entities.

     THIRD: Ensource Energy Income Fund LP shall be the surviving entity in the Merger.

     FOURTH: The Certificate of Limited Partnership of the Surviving Entity in effect immediately
prior to the Merger shall be its Certificate of Limited Partnership after the Merger.

     FIFTH: An executed copy of the Agreement and Plan of Merger governing the Merger is on file
at the office of the Surviving Entity at 7500 San Felipe, Suite 440, Houston, Texas 77063.

     SIXTH: An executed copy of the Agreement and Plan of Merger governing the Merger will be
furnished by the Surviving Entity, on request and without cost, to any holder of trust units in the
Non-Surviving Entity and any holder of common units of the Surviving Entity.

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     IN WITNESS WHEREOF, the Surviving Entity has caused this Certificate of Merger to be executed
and attested by its authorized officers and delivered to the Delaware Secretary of State on this
the ___day of ___, 2005.

	 	 	 	 	 	 
	 	ENSOURCE ENERGY INCOME FUND LP	 
	 	 	 
	 	By:  	Ensource Energy Partners, LP, its sole general partner	 
	 	 	 
	 	 	By:  	 	 
	 	 	 	Name:  	 	 
	 	 	 	Title:  	 	 
	 

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