CALGARY, ALBERTA--(Marketwire
- June 2, 2009) - Enterra Energy Trust
("Enterra", "We",
"Our" or the "Trust") has received notice from the
New York Stock Exchange ("NYSE") that it is now in compliance
with the minimum US$1.00 Unit Price Continued Listing Standard, with
its units having traded above US$1.00 over the last 30 days on the
NYSE.
"It has always been our objective to ensure that our unitholders and prospective unitholders
are able to trade on both the NYSE and the TSX, so we are pleased that
one of the NYSE's continued listing standard deficiencies has been
resolved and we are well on our way to resolving the final
deficiency" commented Don Klapko, CEO of
Enterra.
Enterra announced on April 8, 2009, that its
business plan to address certain continued listing standard
deficiencies had been approved by the NYSE. The Trust has until May
2010 to achieve a minimum US$75 million market capitalization. Current
market capitalization has been above this standard since the start of
the second quarter of 2009, but must remain above this level for two
consecutive quarters before the NYSE can confirm compliance.
Enterra continues to be in compliance with
the listing requirements of the Toronto Stock Exchange.
About Enterra Energy Trust
Enterra is an exploration and production oil
and gas trust based in Calgary, Alberta, Canada with its United States
operations office located in Oklahoma City, Oklahoma. Enterra's trust units and debentures are listed on
the Toronto Stock Exchange under the symbols (ENT.UN, ENT.DB, ENT.DB.A) and Enterra's
trust units are listed on the New York Stock Exchange under the symbol
(ENT). The Trust's portfolio of oil and gas properties is
geographically diversified with producing properties located
principally in Alberta, British Columbia, Saskatchewan and Oklahoma. Production
is comprised of approximately 58 percent natural gas and 42 percent
crude oil and natural gas liquids. Enterra
has compiled a multi-year drilling inventory for its properties.
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,"
"seeks" and similar expressions. 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 or dispositions; 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.
|