Enterra Energy Trust
NASDAQ : EENC
TSX VENTURE : ENT.UN

Enterra Energy Trust

November 18, 2005 11:58 ET

Enterra Energy Trust Announces Increase to Exchangeable Share Ratios

CALGARY, Alberta--(CCNMatthews - Nov 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 1.18723 to 1.19637 and an increase to the Exchange Ratio of Rocky Mountain Acquisition Corp. Exchangeable Shares from 1.01490 to 1.02271. These increases are effective on November 15, 2005.

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



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Record Date of Enterra Energy Trust Distribution October 31, 2005
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Opening Exchange Ratio 1.18723
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Enterra Energy Trust Distribution per Unit US$ 0.17
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Ten Day Weighted Average $US Trading Price of EENC-Q US$22.09
(prior to November 15, 2005)
----------------------------------------------------------------------
Increase in Exchange Ratio (1) 0.00914
----------------------------------------------------------------------
Effective Date of the Increase in Exchange Ratio November 15, 2005
----------------------------------------------------------------------
Exchange Ratio as of Effective Date 1.19637
----------------------------------------------------------------------



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



----------------------------------------------------------------------
Record Date of Enterra Energy Trust Distribution October 31, 2005
----------------------------------------------------------------------
Opening Exchange Ratio 1.01490
----------------------------------------------------------------------
Enterra Energy Trust Distribution per Unit US$0.17
----------------------------------------------------------------------
Ten Day Weighted Average $US Trading Price of EENC-Q US$22.09
(prior to November 15, 2005)
----------------------------------------------------------------------
Increase in Exchange Ratio (1) 0.00781
----------------------------------------------------------------------
Effective Date of the Increase in Exchange Ratio November 15, 2005
----------------------------------------------------------------------
Exchange Ratio as of Effective Date 1.02271
----------------------------------------------------------------------



(1) 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
    403-213-2507
    or
    Enterra Energy Trust
    Keith Conrad
    403-444-4424
    403-444-0100 (FAX)
    Website: www.enterraenergy.com
    or
    Investor Relations Counsel:
    The Equity Group
    Linda Latman
    212-836-9609
    or
    Investor Relations Counsel:
    The Equity Group
    Andreas Marathovouniotis
    212-836-9611
    Website: www.theequitygroup.com