TSX: ENT.UN, ENT.DB, ENT.DB.A
CALGARY, June 02 /CNW/ - 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.
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.
SOURCE Equal Energy Ltd.
For further information: For further information: Enterra Energy Trust, Blaine Boerchers, Chief Financial Officer, (403) 263-0262 or Toll Free: 1-877-263-0262, Email: email@example.com, Website: www.enterraenergy.com