High Point Resources Inc.

High Point Resources Inc.

July 20, 2005 11:37 ET

High Point Announces Date of Special Meeting to Consider Plan of Arrangement

CALGARY, ALBERTA--(CCNMatthews - July 20, 2005) - High Point Resources Inc. ("High Point") (TSX:HPR) is pleased to announce that the special meeting of shareholders of High Point (the "Special Meeting") to consider the previously announced proposed plan of arrangement pursuant to which all of the outstanding common shares of High Point will be acquired by a subsidiary of Enterra Energy Trust ("Enterra") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement") will be held in the Bow Valley Conference Centre of Bow Valley Square, Plus 30 Level, 205 - 5th Avenue S.W., Calgary, Alberta at 10:00 a.m. (Calgary time) on Tuesday, August 16, 2005. The Information Circular - Proxy Statement and related material in connection with the Special Meeting is being mailed to High Point shareholders.

High Point also announces that it has entered into a new arrangement agreement in respect of the Arrangement and pursuant to which holders of High Point common shares will be entitled to receive either: (i) 0.105 of a trust unit ("Trust Unit") of Enterra (which will receive monthly cash distributions); or (ii) 0.105 of an exchangeable share (the "Exchangeable Share") (the exchange ratio of which will be adjusted on a monthly basis in lieu of cash distributions to unitholders) of the acquirer, Rocky Mountain Acquisition Corp. (a subsidiary of Enterra), such shares being exchangeable into Trust Units of Enterra, subject to a maximum of 2,500,000 Exchangeable Shares being issued. Shareholders that are non-residents of Canada, tax exempt, financial institutions or U.S. persons will not be entitled to elect to receive Exchangeable Shares.

Contact Information