Canetic Resources Trust confirms monthly distribution



    CALGARY, Dec. 17 /CNW/ - (CNE.UN - TSX; CNE - NYSE)- Canetic Resources
Trust ("Canetic") is pleased to announce that a cash distribution of C$0.19
per trust unit will be paid on January 15, 2008 to unitholders of record on
December 31, 2007. The trust units of Canetic will commence trading on an
ex-distribution basis on December 27, 2007. Using a Canadian to U.S. dollar
exchange rate of $0.98, the distribution amount is approximately U.S. $0.19
per Trust Unit. The actual U.S. dollar equivalent distribution for unitholders
who hold units through a brokerage firm will be based upon the Canadian to
U.S. dollar exchange rate in effect on the payment date, net of applicable
Canadian withholding taxes. Registered unitholders are paid directly by
Canetic's transfer agent, Computershare, and the distribution will be based on
the Canadian to U.S. dollar exchange rate as of the date of record, net of
applicable Canadian withholding taxes.
    The regular monthly distribution to be paid to Canetic Unitholders in the
month of January 2008 will not be affected by the proposed Arrangement between
Penn West Energy Trust ("Penn West") and Canetic and will be paid in the usual
manner. Therefore, Canetic Unitholders of record on December 31, 2007 will
receive their regular monthly cash distribution on January 15, 2008. If the
Arrangement is completed on January 11, 2008, as currently scheduled, this
will be the last regular monthly distribution paid by Canetic and the first
distribution of Penn West that all Penn West Unitholders (including former
Canetic Unitholders) will be eligible to receive following the Effective Date
of the Arrangement is the distribution anticipated to be paid on February 15,
2008 to Penn West Unitholders of record on January 31, 2008. The board of
directors of Penn West (the "Penn West Board") has resolved to maintain its
current distribution level of $0.34 per Penn West Unit for the distributions
to be paid on February 15, 2008 to Penn West Unitholders of record on
January 31, 2008 (including former Canetic Unitholders who continue to hold
Penn West Units on January 31, 2008). The amount of future cash distributions
will be subject to the discretion of the Penn West Board and may vary
depending on a variety of factors, including fluctuations in commodity prices,
production levels and capital expenditure requirements.
    Canetic has suspended the Canetic distribution reinvestment plan (the
"Canetic DRIP") such that all distributions made by Canetic after the cash
distribution of Canetic to be paid on December 14, 2007 to holders of record
on November 30, 2007, will not be eligible for reinvestment under the Canetic
DRIP. If the Arrangement is completed on January 11, 2008 as expected, the
Canetic DRIP will be terminated on that date. Former Canetic Unitholders who
are resident in Canada or the United States and who are interested in
participating in the Penn West distribution reinvestment plan (the "Penn West
DRIP") following the completion of the Arrangement should, if they become
registered Penn West Unitholders, complete and deliver an authorization form
to CIBC Mellon Trust Company, and if they become beneficial Penn West
Unitholders, contact their broker, investment dealer, financial institution or
other nominee through which their Penn West Units are held following the
Arrangement and provide instructions on how they wish to participate in the
Penn West DRIP. The authorization form for registered Penn West Unitholders
can be obtained at www.pennwest.com.

    Canetic is one of Canada's largest oil and gas royalty trusts. Canetic
trust units and debentures are listed on the Toronto Stock Exchange under the
symbols CNE.UN, CNE.DB.A, CNE.DB.B, CNE.DB.C, CNE.DB.D, and CNE.DB.E and the
trust units are listed on the New York Stock Exchange under the symbol CNE.
For further information, please see the website at www.canetictrust.com or
contact Canetic investor relations by email at: Info@canetictrust.com or toll
free telephone at 1-877-539-6300.

    ADVISORY: Certain information regarding Canetic Resources Trust or Penn
West Energy Trust, including management's assessment of exchange rates,
Canadian withholding taxes and Canetic or Penn West'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, ability to access sufficient
capital from internal and external sources; failure to obtain required
regulatory approvals, changes in legislation, including but not limited to tax
laws and environmental regulations. 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 or
Penn West's operations or financial results are included in reports on file
with applicable securities regulatory authorities and may be accessed through
the SEDAR website (www.sedar.com), the SEC's website (www.sec.gov) or at
Canetic's website (www.canetictrust.com) or at Penn West's website
(www.pennwest.com).

    %SEDAR: 00023165E          %CIK: 0001349237




For further information:

For further information: Investor Relations: (403) 539-6300, Toll Free -
1-877-539-6300, info@canetictrust.com, www.canetictrust.com

Organization Profile

CANETIC RESOURCES TRUST

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890