Enterra Energy Trust

Enterra Energy Trust

March 18, 2005 08:45 ET

Enterra Energy Trust Announces Increase to Exchangeable Share Ratios


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ENTERRA ENERGY TRUST

TSX VENTURE SYMBOL: ENT
NASDAQ SYMBOL: EENC

MARCH 18, 2005 - 08:45 ET

Enterra Energy Trust Announces Increase to
Exchangeable Share Ratios

CALGARY, Alberta--(CCNMatthews - Mar 18, 2005) -

Enterra Energy Trust (TSX: ENT.UN, NASDAQ: EENC) is pleased to announce
an increase to the Exchange Ratio of the Exchangeable Shares of Enterra
Energy Corp. from 1.12220 to 1.13061 and an increase to the Exchange
Ratio of Rocky Mountain Acquisition Corp. Exchangeable Shares from
1.04030 to 1.04809. These increases are effective on March 15, 2005.

The increase in the Exchange Ratio of Enterra Energy Corp. Exchangeable
shares is calculated as follows:



----------------------------------------------------------------------
Record Date of Enterra Energy Trust Distribution February 28, 2005
----------------------------------------------------------------------
Opening Exchange Ratio 1.12220
----------------------------------------------------------------------
Enterra Energy Trust Distribution per Unit US$0.14
----------------------------------------------------------------------
Ten Day Weighted Average $US Trading Price of EENC-Q US$18.69
(prior to March 15, 2005)
----------------------------------------------------------------------
Increase in Exchange Ratio * 0.00841
----------------------------------------------------------------------
Effective Date of the Increase in Exchange Ratio March 15, 2005
----------------------------------------------------------------------
Exchange Ratio as of Effective Date 1.13061
----------------------------------------------------------------------



The increase in the Exchange Ratio of Rocky Mountain Acquisition Corp.
Exchangeable shares is calculated as follows:



----------------------------------------------------------------------
Record Date of Enterra Energy Trust Distribution February 28, 2005
----------------------------------------------------------------------
Opening Exchange Ratio 1.04030
----------------------------------------------------------------------
Enterra Energy Trust Distribution per Unit US$0.14
----------------------------------------------------------------------
Ten Day Weighted Average $US Trading Price of EENC-Q US$18.69
(prior to March 15, 2005)
----------------------------------------------------------------------
Increase in Exchange Ratio * 0.00779
----------------------------------------------------------------------
Effective Date of the Increase in Exchange Ratio March 15, 2005
----------------------------------------------------------------------
Exchange Ratio as of Effective Date 1.04809
----------------------------------------------------------------------



* The increase in the Exchange Ratio is calculated by multiplying the
Enterra Energy Trust Distribution per Unit by the Opening Exchange Ratio
and dividing by the Ten Day Weighted Average US$ Trading Price of
EENC-Q.

A holder of Enterra Energy Corp. Exchangeable Shares or Rocky Mountain
Acquisition Corp. Exchangeable Shares can exchange all or a portion of
their holdings at any time by giving notice to their investment advisor
or Olympia Trust Company at its principal transfer office at Suite 2300,
125 - 9th Avenue SE, Calgary, Alberta T2G 0P6.

-30-

Contact Information

  • Enterra Energy Trust
    Reg Greenslade
    403-213-2507
    403-294-1197 (FAX)
    Website: www.enterraenergy.com
    or
    Investor Relations Counsel:
    The Equity Group
    Linda Latman
    212-836-9609
    403-294-1197 (FAX)
    or
    Investor Relations Counsel:
    The Equity Group
    Rob Greenberg
    212-836-9611
    Website: www.theequitygroup.com