Baytex Energy Trust

Baytex Energy Trust

May 16, 2006 16:15 ET

Baytex Energy Trust Confirms Monthly Distribution at $0.18 Per Unit

CALGARY, ALBERTA--(CCNMatthews - May 16, 2006) - Baytex Energy Trust (TSX:BTE.UN) (NYSE:BTE) announces that a cash distribution of $0.18 per unit in respect of May operations will be paid on June 15, 2006 for unitholders of record on May 31, 2006. The ex-distribution date is May 29, 2006.

Baytex has paid a monthly distribution of $0.18 per unit since January 2006. Prior to that, Baytex had maintained its monthly distributions at $0.15 per unit since its inception in September 2003. The Trust's annualized cash distribution, based on the current payment, amounts to $2.16 per trust unit, and represents a cash-on-cash yield of approximately 9.6% per year based on the
May 15, 2006 closing price of $22.60 per trust unit.

Baytex Energy Trust is a conventional oil and gas income trust focused on maintaining its production and asset base through internal property development and delivering consistent returns to its unitholders. Trust Units of Baytex are traded on the Toronto Stock Exchange under the symbol BTE.UN and on the New York Stock Exchange under the symbol BTE.

Forward Looking Statements

Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by Baytex at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors, many of which are beyond the control of Baytex. There is no representation by Baytex that actual results achieved during the forecast period will be the same in whole or in part as those forecast. All dollar amounts in this press release are Canadian dollars unless otherwise identified.

Contact Information

  • Baytex Energy Trust
    Ray Chan
    President & C.E.O.
    (403) 267-0715
    Baytex Energy Trust
    Derek Aylesworth
    Chief Financial Officer
    (403) 538-3639
    Baytex Energy Trust
    Kathy Robertson
    Investor Relations
    (403) 538-3645
    Toll Free Number: 1-800-524-5521