On June 29, 2007, the Trust announced that it had entered into a definitive agreement for a going private
transaction with an investor group led by Mr. David Werklund, the Founder, President and Chief Executive
Officer of CCS. Through a series of transactions, a company controlled by the investor group will acquire
all the assets of CCS and each securityholder of CCS will receive $46 per trust unit or the equivalent
amount per exchangeable share (other than Mr. Werklund, who has agreed to accept $45.50 for each
trust unit sold by him). The transaction is subject to conditions including unitholder approval but has been
unanimously recommended for approval by the Board of Directors (with interested and non-independent
directors abstaining).
• On April 5, 2007, the Trust acquired the operating assets of Pride Oilfield Services, LLC (“Pride”) for
approximately $5.6 million. Pride collects and hauls produced water for customers within the east Texas
and northern Louisiana regions.
