Canetic Resources Trust confirms monthly distribution and fourth quarter conference call details
February 15 2007 - 6:26PM
PR Newswire (US)
CALGARY, Feb. 15 /PRNewswire-FirstCall/ -- (CNE.UN - TSX; CNE -
NYSE) - Canetic Resources Trust is pleased to announce that a cash
distribution of C$0.19 per trust unit will be paid on March 15,
2007 to unitholders of record on February 28, 2007. The trust units
of Canetic will commence trading on an ex-distribution basis on
February 26, 2007. Using a Canadian to U.S. dollar exchange rate of
$0.86, the distribution amount is approximately U.S. $0.16 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. Canetic's regular monthly
distribution is expected to remain at C$0.19 per trust unit for the
foreseeable future. Canetic reviews its distribution policy on an
ongoing basis based on Canetic's view of future operations,
business development opportunities and internal cash flow
projections which incorporate Canetic's production forecasts,
commodity prices, interest rate and foreign exchange expectations,
hedging activities and spending requirements. Future distributions
remain subject to change as dictated by changes in those variables.
Canetic currently anticipates releasing its fourth quarter 2006 and
year-end results on Thursday, March 8, 2007 following the close of
markets. Canetic will host a conference call to discuss the results
on Friday, March 9, 2006. The conference call will begin at 9:00 am
MST. To participate, you may call toll free at 1 (800) 769-8320 or
(416) 695-5259 (Toronto area). A telephone replay will be available
until March 31, 2007, by dialing 1(888) 509-0081 or (416) 695-5275
(Toronto). 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
http://www.canetictrust.com/ or contact Canetic investor relations
by email at: or toll free telephone at 1-877-539-6300. ADVISORY:
Certain information regarding Canetic Resources Trust including
management's assessment of exchange rates, Canadian withholding
taxes 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, 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'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
SEC's website (http://www.sec.gov/) or at Canetic's website
(http://www.canetictrust.com/). DATASOURCE: Canetic Resources Trust
CONTACT: Investor Relations, (403) 539-6300, Toll Free -
1-877-539-6300, , http://www.canetictrust.com/
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