Exhibit 5.6

                           Letter of Consent


We hereby consent to the use of our name and to the description of our
opinion letter dated April 30, 2004 under the captions "SUMMARY -
Fairness Opinion", "GLOSSARY OF TERMS - Fairness Opinion", "THE MERGER
- - Background to the Merger", "THE MERGER - Fairness Opinion", "THE
MERGER - Interests of Experts" in, and to the inclusion of such
opinion letter as Appendix E to, and to the reference to such opinion
letter in the letter to unitholders of Ultima Energy Trust dated April
30, 2004 that accompanies, the Notice of Meeting of Unitholders and
Proxy Statement and Information Circular dated April 30, 2004 included
in the Registration Statement on Form F-10 of Petrofund Energy Trust
dated April 30, 2004. In giving such consent, we do not thereby admit
that we come within the category of persons whose consent is required
under, or that we are experts with respect to any part of such
Registration Statement within the meaning of the term "experts" as
used in, the Securities Act of 1933, as amended, or the rules and
regulations of the Securities and Exchange Commission promulgated
thereunder.



                                            CIBC WORLD MARKETS INC.



                                            By:    /s/  Art Korpach
                                                   ----------------------------
                                                   Name:  Art Korpach
                                                   Title: Managing Director
Calgary, Alberta, Canada
April 30, 2004