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John F. Driscoll purchases trust units of Strategic Energy Fund (TSX: SEF.UN)
2007-06-07

EARLY WARNING NEWS RELEASE PURSUANT TO NATIONAL INSTRUMENT 62-103

TORONTO - John F. Driscoll, The Exchange Tower, 130 King Street West, Suite 2850, Toronto, Ontario, M5X 1A4, together with joint actors, has acquired through the facilities of the Toronto Stock Exchange beneficial ownership and control of 1,010,200 trust units of Strategic Energy Fund (the "Fund"), representing approximately 4.9% of all issued and outstanding trust units of the Fund. Immediately after the acquisition, John F. Driscoll, together with joint actors, beneficially owned and controlled 2,537,649 trust units of the Fund and rights to acquire up to an additional 300,000 trust units of the Fund upon exercise of convertible securities, representing in the aggregate approximately 12.25% and 13.5% of all issued and outstanding trust units of the Fund, respectively, calculated on a non-diluted basis and on a partially-diluted basis assuming conversion of the convertible securities beneficially owned by Mr. Driscoll. Mr. Driscoll's beneficial ownership and control of such securities are held personally, by his spouse and by DCT Investment Corp. and Petro Assets Inc. (companies beneficially owned and/or controlled by John F. Driscoll). John F. Driscoll, together with joint actors, acquired the 1,010,200 trust units of the Fund for investment purposes and may from time to time acquire additional securities of the Fund, in particular where the trust units of the Fund are trading at a discount to the net asset value per trust unit, dispose of some or all of the existing or additional securities of the Fund they respectively hold or will hold or may continue to hold their respective current position. For further information or copies of the report filed in connection with this news release with the various securities commissions, please contact: Ryan Caughey, The Exchange Tower, 130 King Street West, Suite 2850, Toronto, Ontario M5X lA4 (416) 861-8729


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