CALGARY, May 12 /PRNewswire-FirstCall/ -- (CNE.UN - TSX; CNE - NYSE)- Canetic Resources Trust is pleased to announce that a cash distribution of C$0.23 per trust unit will be paid on June 15, 2006 to unitholders of record on May 31, 2006. The trust units of Canetic will commence trading on an ex- distribution basis on May 29, 2006. Using a Canadian to U.S. dollar exchange rate of $0.90, the distribution amount is approximately U.S $0.21 per Trust Unit. The actual U.S. dollar equivalent distribution for unitholders who hold through a brokerage firm will be based upon the U.S./Canadian exchange rate in effect on the payment date, net of applicable Canadian withholding taxes. Registered shareholders are paid directly by Canetic's transfer agent, Computershare, and the distribution will be based on the U.S./Canadian exchange rate as of the date of record, net of applicable withholding taxes.
Canetic, together with its predecessor, Acclaim Energy Trust, has the objective of providing consistent cash distributions and has provided unitholders with stable or increasing distributions for more than four years.
Canetic Resources Trust trades on the TSX and the NYSE and was formed on January 5, 2006, from the merger of Acclaim Energy Trust and StarPoint Energy Trust. Canetic is one of the largest producers in the conventional oil and gas trust sector, with a production mix of 60 percent oil liquids and 40 percent natural gas. The Trust has long life high quality assets in western Canada with approximately a 9 year reserve life index on a proved and probable basis. For further information, please see the website at http://www.canetictrust.com/ or contact Canetic investor relations by email at:
ADVISORY: Certain information regarding Canetic Resources Trust including management's assessment of future plans and operations, reserve and production estimates, drilling inventory, and Canetic's distribution policy may constitute forward-looking statements under applicable securities law and necessarily involve risks, including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions and ability to access sufficient capital from internal and external sources; failure to obtain required regulatory approvals. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Canetic's operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (http://www.sedar.com/), the EDGAR website (http://www.edgar.com/) or at Canetic's website (http://www.canetictrust.com/).
© 2006 PR Newswire
