Santa Fe Energy Trust Announces Anticipated Trust Liquidation and Delisting

  
    
  
  
    
      The Bank of New York Trust Company, N.A. (the "Trustee") of Santa Fe 
      Energy Trust (NYSE:SFF) announced today that it has officially notified 
      the New York Stock Exchange that it is requesting the delisting of the 
      Trust on February 15, 2008. The Trustee expects that transfer of the 
      Trust's units will be halted at the close of business on February 14, 
      2008.
    
    
      As previously disclosed, the Trustee intends to distribute the net 
      proceeds of the sale of the Trust's assets (after deducting amounts 
      necessary to pay all fees, expenses, liabilities and other obligations 
      of the Trust, and after setting aside any amounts the Trustee determines 
      to hold in reserve, and subject to any post-closing adjustments under 
      the purchase agreement) on February 29, 2008 to unitholders of record at 
      the close of business on February 14, 2008. This distribution will be 
      made concurrently with the Trust's distribution for the quarter ending 
      December 31, 2007.
    
    
      The United States Treasury book-entry securities representing 
      stripped-interest coupons held by The Bank of New York Trust Company, 
      N.A. as Custodian mature on February 15, 2008. The cash proceeds from 
      the matured Treasury Obligations on deposit with the Custodian will be 
      distributed as promptly as practicable. Unitholders of record will be 
      required to deliver their Secure Principal Energy Receipts ("SPER 
      Certificates") in exchange for such payment.
    
    
      The Trustee will mail each unitholder of record instructions for 
      submitting SPER Certificates to Bondholder Communications (the “Processing 
      Agent”). These instructions will include a 
      letter of transmittal for submitting a unitholder’s 
      SPER Certificates to the Processing Agent in exchange for cash proceeds 
      from the matured Treasury Obligations. Unitholders should NOT destroy 
      any SPER Certificates and should NOT submit any SPER Certificates to the 
      Trustee or the Processing Agent until they receive instructions and the 
      letter of transmittal. Surrender of a unitholder's SPER Certificates 
      along with the letter of transmittal will be required unless the 
      unitholder's SPER Certificates have been lost, stolen, misplaced or 
      mutilated. Unitholders whose SPER Certificates have been lost, stolen, 
      misplaced or mutilated should follow the instructions from the Trustee 
      or contact the Processing Agent at 1-800-275-2048.
    
    
      If a unitholder's Trust units are held in a brokerage account, the 
      unitholder will not receive a letter of transmittal, but should contact 
      the broker for instructions.
    
    
      After the liquidation of the Trust, the Trustee will continue to act as 
      trustee of the trust estate until the trust estate has been finally 
      distributed and the affairs of the Trust have been wound up.