Enterra Energy Trust
NASDAQ : EENC
TSX : ENT.UN

Enterra Energy Trust

July 19, 2005 08:45 ET

Enterra Energy Trust Announces Increase to Exchangeable Share Ratios

CALGARY, Alberta--(CCNMatthews - Jul 19, 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 1.15476 to 1.16203 and an increase to the Exchange Ratio of Rocky Mountain Acquisition Corp. Exchangeable Shares from 1.06998 to 1.07672. These increases are effective on July 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 June 30, 2005
----------------------------------------------------------------------
Opening Exchange Ratio 1.15476
----------------------------------------------------------------------
Enterra Energy Trust Distribution per Unit US$0.16
----------------------------------------------------------------------
Ten Day Weighted Average $US Trading Price of EENC-Q US$25.41
(prior to July 15, 2005)
----------------------------------------------------------------------
Increase in Exchange Ratio (a) 0.00727
----------------------------------------------------------------------
Effective Date of the Increase in Exchange Ratio July 15, 2005
----------------------------------------------------------------------
Exchange Ratio as of Effective Date 1.16203
----------------------------------------------------------------------



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



----------------------------------------------------------------------
Record Date of Enterra Energy Trust Distribution June 30, 2005
----------------------------------------------------------------------
Opening Exchange Ratio 1.06998
----------------------------------------------------------------------
Enterra Energy Trust Distribution per Unit US$0.16
----------------------------------------------------------------------
Ten Day Weighted Average $US Trading Price of EENC-Q US$25.41
(prior to July 15, 2005)
----------------------------------------------------------------------
Increase in Exchange Ratio (a) 0.00674
----------------------------------------------------------------------
Effective Date of the Increase in Exchange Ratio July 15, 2005
----------------------------------------------------------------------
Exchange Ratio as of Effective Date 1.07672
----------------------------------------------------------------------

(a) 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.

Contact Information

  • Enterra Energy Trust
    Reg Greenslade
    Chairman
    403-213-2507
    or
    Enterra Energy Trust
    President and CEO
    Keith Conrad
    403-444-4424
    403-444-0100 (FAX)
    Website: www.enterraenergy.com
    or
    The Equity Group
    Linda Latman
    Investor Relations Counsel
    212-836-9609
    or
    The Equity Group
    Andreas Marathovouniotis
    212-836-9611
    Website: www.theequitygroup.com