Enterra Energy Trust Announces Closing of $65 Million Bought Deal Financing
Calgary, AB � April 26, 2007 � Enterra Energy Trust (�Enterra�
or the �Trust�) (NYSE: ENT, TSX: ENT.UN) announces that it has
closed its previously announced bought deal financing of trust
units and debentures.
Pursuant to the bought deal financing, the Trust issued
4,300,000 trust units at an issue price of $5.90 per trust
unit and $40 million of 8.25% unsecured subordinated
debentures convertible into trust units at a price of $6.80
per trust unit for aggregate gross proceeds of approximately
$65.4 million.
The net proceeds from the offering will be used to fund the
acquisition of Trigger Resources Ltd.
The Trust is also pleased to announce that 100% of the issued
and outstanding shares of Trigger Resources Ltd. have been
tendered in acceptance of the previously announced offer to
purchase such shares made by an affiliate of the Trust. The
closing of the offer is anticipated to occur on April 30, 2007.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall
there be any sale of securities in any state in the United
States in which such offer, solicitation or sale would be
unlawful. The securities referred to herein have not been and
will not be registered under the United States Securities Act
of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from
registration requirements.
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, U.S.A.
Forward-Looking Statements
Certain information in this press release constitutes forward-
looking statements under applicable securities law. Any
statements that are contained in this press release that are
not statements of historical fact may be deemed to be forward-
looking statements. Forward-looking statements are often
identified by terms such as "may", "should", "anticipate",
"expects" and similar expressions. Forward-looking statements
in this press release include, but are not limited to,
statements with respect to the use of proceeds of the
offering. Forward-looking statements necessarily involve known
and unknown risks, including, without limitation, risks
associated with oil and gas production, marketing and
transportation; loss of markets; volatility of commodity
prices; currency and interest rate fluctuations; imprecision
of reserve estimates; environmental risks; competition;
incorrect assessment of the value of acquisitions; failure to
realize the anticipated benefits of acquisitions; inability to
access sufficient capital from internal and external sources;
changes in legislation, including but not limited to income
tax, environmental laws and regulatory matters. Readers are
cautioned that the foregoing list of factors is not
exhaustive.
Readers are cautioned not to place undue reliance on forward-
looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed
will occur. Such information, although considered reasonable
by management at the time of preparation, may prove to be
incorrect and actual results may differ materially from those
anticipated. Forward looking statements contained in this
press release are expressly qualified by this cautionary
statement.
Additional information on these and other factors that could
affect Enterra's operations or financial results are included
in Enterra's reports on file with Canadian and U.S. securities
regulatory authorities and may be accessed through the SEDAR
website (www.sedar.com), the SEC's website (www.sec.gov),
Enterra's website (www.enterraenergy.com) or by contacting
Enterra. Furthermore, the forward-looking statements contained
in this news release are made as of the date of this news
release, and Enterra does not undertake any obligation to
update publicly or to revise any of the included forward-
looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
securities law.
For further information please contact:
E. Keith Conrad Victor Roskey
President & CEO, Enterra Energy Trust Senior Vice President & CFO,
Telephone: (877) 263-0262 Enterra Energy Trust
E-mail: ekconrad@enterraenergy.com Telephone: (877) 263-0262
E-mail: vroskey@enterraenergy.com
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Enterra Energy Trust
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CODE : ENT |
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Enterra Energy est une société de production minière basée au Canada. Enterra Energy est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 162,1 millions US$ (137,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 mars 2000 à 99,94 US$, et son plus bas niveau récent le 20 mars 2020 à 0,06 US$. Enterra Energy possède 85 310 000 actions en circulation. |