Baytex Energy Trust

Baytex Energy Trust

February 01, 2006 16:10 ET

Baytex Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(CCNMatthews - Feb. 1, 2006) - Baytex Energy Trust (TSX:BTE.UN) of Calgary, Alberta is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Baytex Energy Ltd. from 1.38372 to 1.39624. This increase will be effective on February 15, 2006.

The increase in the Exchange Ratio is calculated as follows:

Record Date of Baytex Energy Trust Distribution: January 31, 2006

Opening Exchange Ratio: 1.38372
Baytex Energy Trust Distribution per Unit: $0.18
Five-day Weighted Average Trading Price of BTE.UN
(prior to the end of January): $19.89
Increase in Exchange Ratio (xx): 0.01252
Effective Date of the Increase in Exchange Ratio: February 15, 2006
Exchange Ratio as of Effective Date: 1.39624

(xx) The increase in the Exchange Ratio is calculated by multiplying the Baytex Energy Trust Distribution per Unit by the Opening Exchange Ratio and dividing by the Five-day Weighted Average Trading Price of BTE.UN.

A holder of Baytex Energy Ltd. Exchangeable Shares can exchange all or a portion of their holdings at any time by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office at Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1 (telephone: 403-233-2801).

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.

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