Baytex Energy Trust
TSX : BTE.UN
NYSE : BTE

Baytex Energy Trust

December 15, 2008 16:15 ET

Baytex Energy Trust Confirms Monthly Distribution at $0.18 Per Unit

CALGARY, ALBERTA--(Marketwire - Dec. 15, 2008) - Baytex Energy Trust (TSX:BTE.UN) (NYSE BTE) announces that a cash distribution of $0.18 per unit in respect of December operations will be paid on January 15, 2009 to unitholders of record on December 31, 2008. The ex-distribution date is December 29, 2008.

The U.S. dollar equivalent distribution amount is approximately US$0.1445 per trust unit assuming a Canadian to U.S. dollar exchange rate of $0.8031. The actual U.S. dollar equivalent distribution for unitholders who hold through a brokerage firm will be based on the exchange rate in effect on the payment date and net of applicable Canadian withholding taxes. Registered unitholders are paid directly by Baytex's transfer agent, Valiant Trust Company, and the actual U.S. dollar equivalent distribution will be based on the exchange rate in effect on the record date and net of applicable Canadian withholding taxes.

The annualized distribution of $2.16 represents a cash-on-cash yield of approximately 14.3% based on the closing price of Baytex trust units of $15.09 on the TSX on December 12, 2008.

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.

All dollar amounts in this press release are Canadian dollars unless otherwise identified.

Contact Information

  • Baytex Energy Trust
    Ray Chan
    Chief Executive Officer
    (403) 267-0715
    or
    Baytex Energy Trust
    Anthony Marino
    President & Chief Operating Officer
    (403) 267-0708
    or
    Baytex Energy Trust
    Derek Aylesworth
    Chief Financial Officer
    (403) 538-3639
    or
    Baytex Energy Trust
    Erin Cripps
    Investor Relations Representative
    (403) 538-3681
    Toll Free Number: 1-800-524-5521
    Website: www.baytex.ab.ca