ENT.UN
TSX : EENC

EENC
NASDAQ : ENT.U

January 18, 2006 09:22 ET

Enterra Energy Trust Announces Increase to Exchangeable Share Ratios

CALGARY, Alberta--(CCNMatthews - Jan 18, 2006) -

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 1.20694 to 1.21977 and an increase to the exchange ratio of Rocky Mountain Acquisition Corp. exchangeable shares from 1.03175 to 1.04272. These increases are effective on January 15, 2006.

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 December 31, 2005
----------------------------------------------------------------------
Opening exchange ratio 1.20694
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Enterra Energy Trust distribution per unit US$ 0.18
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Ten-day weighted-average $US trading price of EENC-Q
(prior to January 15, 2006) US$16.93
----------------------------------------------------------------------
Increase in exchange ratio * 0.01283
----------------------------------------------------------------------
Effective date of the increase in exchange ratio January 15, 2006
----------------------------------------------------------------------
Exchange ratio as of effective date 1.21977
----------------------------------------------------------------------



The increase in the exchange ratio of Rocky Mountain Acquisition Corp. exchangeable shares is calculated as follows:



----------------------------------------------------------------------
Record date of Enterra Energy Trust distribution December 31, 2005
----------------------------------------------------------------------
Opening exchange ratio 1.03175
----------------------------------------------------------------------
Enterra Energy Trust distribution per unit US$ 0.18
----------------------------------------------------------------------
Ten-day weighted-average $US trading price of EENC-Q
(prior to January 15, 2006) US$ 16.93
----------------------------------------------------------------------
Increase in exchange ratio * 0.01097
----------------------------------------------------------------------
Effective date of the increase in exchange ratio January 15, 2006
----------------------------------------------------------------------
Exchange ratio as of effective date 1.04272
----------------------------------------------------------------------

* 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.



Holders 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
    Keith Conrad, 403-444-4424
    403-444-0100 (FAX)
    www.enterraenergy.com
    or
    The Equity Group
    Investor Relations Counsel:
    Linda Latman, 212-836-9609
    Andreas Marathovouniotis, 212-836-9611
    www.theequitygroup.com