Canetic Resources Trust acquires approximately 96 percent of Titan Exploration Ltd. and announces compulsory acquisition of all remaining Class A Shares

    CALGARY, Jan. 11 /CNW/ - (CNE.UN - TSX; CNE - NYSE) Canetic Resources
Trust ("Canetic") and (TTN'A - TSX) Titan Exploration Ltd. ("Titan") are
pleased to announce that as of the expiry of the tender offer at 12:01 a.m.
(Calgary time) today 31,539,211 Titan Class A Shares (TTN'A), representing
approximately 96.2 percent of the Titan Class A Shares on a fully diluted
basis, had been validly deposited pursuant to the previously announced offer
of Canetic Titan Ltd. (the "Offeror") (a wholly-owned subsidiary of Canetic)
to acquire all of the issued Titan Class A Shares and Titan Class B Shares, on
a fully diluted basis. The Offeror will take-up all Titan Class A Shares,
including Titan Class A Shares issued upon the conversion of all of the Titan
Class B Shares on December 26, 2007, deposited subsequent to December 31,
2007, in accordance with the previously announced conversion provisions.
    As the Offeror has acquired not less than 90 percent of the outstanding
Titan Class A Shares, on a fully diluted basis, the Offeror intends to acquire
all remaining Titan Class A Shares not tendered to the Offer by way of
compulsory acquisition pursuant to the Business Corporations Act (Alberta). A
notice of compulsory acquisition will be mailed to holders of Titan Class A
Shares not tendered to the Offer.

    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, 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 or contact Canetic
investor relations by email at: or toll free telephone
at 1-877-539-6300.

    United States Considerations

    The Offer was made, and the compulsory acquisition will be made, for the
securities of a Canadian trust. The Offer was, and the compulsory acquisition
will, be subject to Canadian disclosure requirements that are different from
those of the United States. Financial statements included in the takeover bid
circular, or incorporated by reference therein, as well as financial
statements of Canetic, have been prepared in accordance with Canadian
accounting standards that may not be comparable to the financial statements of
United States companies.
    It may be difficult for shareholders of Titan in the U.S. to enforce
their rights and any claim they may have arising under the U.S. federal
securities laws, since Canetic is located in a foreign country, and some or
all of its officers (if any) and trustees and the officers and directors of
Canetic Resources Inc. may be residents of a foreign country. Shareholders of
Titan in the U.S. may not be able to sue a foreign trust or its officers (if
any) or trustees, or the officers or directors of Canetic Resources Inc., in a
foreign court for violations of U.S. securities laws. It may be difficult to
compel a foreign trust and its affiliates, including its officers (if any) and
trustees and the officers and directors of Canetic Resources Inc. to subject
themselves to a U.S. court's judgment.

    %SEDAR: 00023165E

For further information:

For further information: Investor Relations, (403) 539-6300, Toll Free -

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