Enterra Energy (NASDAQ:EENC)
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Enterra Energy Trust (TSX: ENT.UN, NASDAQ: EENC) today
announces that a cash distribution of US$0.18 per trust unit will be
paid on February 15, 2006 in respect of the January 2006 production.
The distribution will be paid in $US funds to unitholders of record at
the close of business January 31, 2006. The ex-distribution date is
January 27, 2006.
In compliance with tax regulations, the 15% withholding tax for
non-residents will be applied to distributions paid in 2006.
For U.S. residents: Enterra has received advice from its tax
advisors that the distributions from Enterra should be eligible for
qualified dividend treatment, provided the U.S. unitholders meet
certain holding period requirements. For Enterra trust units held in a
qualified retirement plan, U.S. residents may apply to the Canada
Revenue Agency (CRA) for a refund of any overwithheld Canadian
withholding tax no later than two years after the calendar year in
which the distributions were paid. U.S. investors can file CRA Form
NR7-R "Application for Refund of Non-Resident Tax" which is obtained
by contacting the International Tax Services Office of the CRA at
1-800-267-3395 or online at www.cra.gc.ca.
Headquartered in Calgary, Enterra Energy Trust is a Canadian oil
and gas income trust. The Trust acquires, operates, and exploits crude
oil and natural gas wells, focusing on low risk and low cost
development. The Trust pays out a monthly distribution which is
currently US$0.18.
Additional information can be obtained at the Company's website at
www.enterraenergy.com
Statements regarding anticipated oil and gas production and other
oil and gas operating activities, including the costs and timing of
those activities, are "forward-looking statements". These statements
involve risks that could significantly impact the Company. These risks
include, but are not limited to, adverse general economic conditions,
operating hazards, drilling risks, inherent uncertainties in
interpreting engineering and geologic data, competition, reduced
availability of drilling and other well services, fluctuations in oil
and gas prices and prices for drilling and other well services and
government regulation and foreign political risks, as well as other
risks commonly associated with the exploration and development of oil
and gas properties.