Enterra Energy Trust Updates Exchangeable Share Ratio.CALGARY, Alberta -- Enterra Energy Trust ("Enterra" or the "Trust") (NYSE NYSE See: New York Stock Exchange : ENT ENT ears, nose, and throat (otorhinolaryngology). ENT abbr. ear, nose, and throat ENT ear, nose and throat. ENT Ears, nose & throat; formally, otorhinolaryngology ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : ENT.UN) updates the exchange ratio of Enterra Energy Corp. exchangeable shares, effective on the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. of January 31, 2007 (the "Redemption Date"). The exchange ratio of 1.43256 is effective on January 31, 2007. As previously advised, January 31, 2007 is the automatic redemption date of Enterra Energy Corp. exchangeable shares. The exchange ratio of Enterra Energy Corp. exchangeable shares on Redemption Date is calculated as follows: [TABLE OMITTED] (a) 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 Trading price The price at which a security is currently selling. of ENT prior to the Redemption Date. About Enterra: Enterra Energy Trust is a conventional oil and gas trust based in Calgary, Alberta. The Trust acquires, operates and exploits petroleum and natural gas assets principally in Alberta and British Columbia, Canada, and in Oklahoma and Wyoming, U.S.A. |
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