Enterra Energy Trust Announces March 2007 Distribution of US$0.06admin
Enterra Energy Trust announces that a cash distribution of US$0.06 per trust unit will be paid on March 15, 2007 in respect of the February 2007 production. The distribution will be paid in U.S. funds to unitholders of record at the close of business February 28, 2007. The ex-distribution date is February 26, 2007.
For U.S. Residents
Enterra has received advice from its tax advisors that the distributions from Enterra should be eligible for qualified dividend treatment, provided the U.S. unitholders meet certain holding period requirements. Enterra is required to apply approximately 15% withholding tax for U.S. residents under the Canada-United States Tax Convention.
For Registered Unitholders
Due to a limited response from registered unitholders wishing to receive the distribution payment in Canadian funds, the Trust has determined that it will not be cost-effective at this time to offer the monthly distribution in two currencies. Distributions will continue to be paid in U.S. funds only.
About Enterra Energy Trust
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.
Additional information can be obtained at the Trust’s website at www.enterraenergy.com.
Certain information regarding the Trust contained herein constitutes forward-looking statements under the meaning of applicable securities laws, including the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, guidance, or other statements that are not statements of fact, including statements regarding risks and uncertainties described from time to time in the reports and filings made by the Trust with securities regulatory authorities. Although the Trust believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. There are many factors that could cause forward-looking statements not to be correct, including risks and uncertainties inherent in the Trust’s business. These risks include, but are not limited to: crude oil and natural gas price volatility, exchange rate fluctuations, availability of services and supplies, operating hazards and mechanical failures, uncertainties in the estimates of reserves and in projection of future rates of production and timing of development expenditures, general economic conditions, and the actions or inactions of third-party operators. The Trust may, as considered necessary in the circumstances, update or revise forward looking information, whether as a result of new information, future events, or otherwise. The Trust’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Enterra Energy Trust E. Keith Conrad, President & CEO, 403-263-0262 or 877-263-0262 firstname.lastname@example.org or Victor Roskey, Senior Vice President & CFO, 403-263-0262 or 877-263-0262
Source: Enterra Energy Trust