Exhibit 25.3
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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
_________________________
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE
___________________________________________
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
A TRUSTEE PURSUANT TO SECTION 305(b)(2) ________
_________________________________________
JPMORGAN CHASE BANK
(Exact name of trustee as specified in its charter)
New York 13-4994650
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
270 Park Avenue
New York, New York 10017
(Address of principal executive offices) (Zip Code)
William H. McDavid
General Counsel
270 Park Avenue
New York, New York 10017
Tel: (212) 270-2611
(Name, address and telephone number of agent for service)
____________________________________________
BP Canada Finance Company
Nova Scotia
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
240-4th Avenue S.W.
Calgary, Alberta
Canada T2P 4H4
(Address of principal executive offices) (Zip Code)
Debt Securities
(Title of the indenture securities)
____________________________________________
GENERAL
Item 1. General Information.
Furnish the following information as to the trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
New York State Banking Department, State House, Albany, New York
12110.
Board of Governors of the Federal Reserve System, Washington,
D.C., 20551
Federal Reserve Bank of New York, District No. 2, 33 Liberty
Street, New York, N.Y.
Federal Deposit Insurance Corporation, Washington, D.C., 20429.
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
Item 2. Affiliations with the Obligor and Guarantors.
If the obligor or any Guarantor is an affiliate of the trustee,
describe each such affiliation.
None.
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Item 16. List of Exhibits
List below all exhibits filed as a part of this Statement of
Eligibility.
1. A copy of the Restated Organization Certificate of the Trustee and
the Certificate of Amendment dated November 9, 2001.
2. A copy of the Certificate of Authority of the Trustee to Commence
Business (see Exhibit 2 to Form T-1 filed in connection with Registration
Statement No. 33-50010, which is incorporated by reference). On November 11,
2001 in connection with the merger of The Chase Manhattan Bank and Morgan
Guaranty Trust Company of New York, the surviving corporation was renamed
JPMorgan Chase Bank.
3. None, authorization to exercise corporate trust powers being
contained in the documents identified above as Exhibits 1 and 2.
4. A copy of the existing By-Laws of the Trustee.
5. Not applicable.
6. The consent of the Trustee required by Section 321(b) of the Act
(see Exhibit 6 to Form T-1 filed in connection with Registration Statement No.
33-50010, which is incorporated by reference). On November 11, 2001, in
connection with the merger of The Chase Manhattan Bank and Morgan Guaranty Trust
Company of New York, the surviving corporation was renamed JPMorgan Chase Bank.
7. A copy of the latest report of condition of the Trustee, published
pursuant to law or the requirements of its supervising or examining authority.
8. Not applicable.
9. Not applicable.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the
Trustee, JPMorgan Chase Bank, a corporation organized and existing under the
laws of the State of New York, has duly caused this statement of eligibility to
be signed on its behalf by the undersigned, thereunto duly authorized, all in
the City of New York and State of New York, on the 19th day of February, 2002.
JPMORGAN CHASE BANK
By /s/ William G. Keenan
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/s/ William G. Keenan
Assistant Vice President
Exhibit 7 to Form T-1
Bank Call Notice
RESERVE DISTRICT NO. 2
CONSOLIDATED REPORT OF CONDITION OF
The Chase Manhattan Bank
of 270 Park Avenue, New York, New York 10017
and Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System,
at the close of business
September 30, 2001, in accordance with a
call made by the Federal Reserve Bank of
this District pursuant to the provisions
of the Federal Reserve Act.
Dollar Amounts
ASSETS in Millions
Cash and balances due from depository institutions:
Noninterest-bearing balances and
currency and coin ......................................... $ 20,204
Interest-bearing balances ................................. 34,014
Securities:
Held to maturity securities .................................... 462
Available for sale securities .................................. 58,587
Federal funds sold and securities purchased under
agreements to resell ...................................... 50,374
Loans and lease financing receivables:
Loans and leases held for sale ............................ 1,581
Loans and leases, net of unearned income .................. $164,271
Less: Allowance for loan and lease losses ................. 2,468
Loans and leases, net of unearned income and
allowance ................................................. 161,803
Trading Assets ................................................. 60,294
Premises and fixed assets (including capitalized leases) ....... 4,604
Other real estate owned ........................................ 43
Investments in unconsolidated subsidiaries and
associated companies ...................................... 365
Customers' liability to this bank on acceptances
outstanding ............................................... 295
Intangible assets
Goodwill .................................................. 1,686
Other Intangible assets ................................... 3,549
Other assets ................................................... 36,940
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TOTAL ASSETS ................................................... $434,801
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LIABILITIES
Deposits
In domestic offices ..................................................... $146,738
Noninterest-bearing ..................................................... $ 64,312
Interest-bearing ........................................................ 82,426
In foreign offices, Edge and Agreement
subsidiaries and IBF's .................................................. 114,404
Noninterest-bearing .................................................. $ 7,400
Interest-bearing ........................................................ 107,004
Federal funds purchased and securities sold under agree-
ments to repurchase .......................................................... 58,982
Trading liabilities .......................................................... 41,387
Other borrowed money (includes mortgage indebtedness
and obligations under capitalized leases) ............................... 10,439
Bank's liability on acceptances executed and outstanding ..................... 295
Subordinated notes and debentures ............................................ 6,355
Other liabilities ............................................................ 31,271
TOTAL LIABILITIES ............................................................ 409,871
Minority Interest in consolidated subsidiaries ............................... 114
EQUITY CAPITAL
Perpetual preferred stock and related surplus ................................ 0
Common stock ................................................................. 1,211
Surplus (exclude all surplus related to preferred stock) .................... 12,715
Retained earnings ....................................................... 10,641
Accumulated other comprehensive income .................................. 249
Other equity capital components .............................................. 0
TOTAL EQUITY CAPITAL ......................................................... 24,818
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TOTAL LIABILITIES, MINORITY INTEREST, AND EQUITY CAPITAL ..................... $434,801
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I, Joseph L. Sclafani, E.V.P. & Controller of the above-named
bank, do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued by the
appropriate Federal regulatory authority and is true to the
best of my knowledge and belief.
JOSEPH L. SCLAFANI
We, the undersigned directors, attest to the correctness
of this Report of Condition and declare that it has been
examined by us, and to the best of our knowledge and
belief has been prepared in conformance with the in-
structions issued by the appropriate Federal regulatory
authority and is true and correct.
WILLIAM B. HARRISON, JR.)
DOUGLAS A. WARNER III ) DIRECTORS
FRANK A. BENNACK, JR. )
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