Canetic Resources Trust Completes $690M Financing

On August 24, 2006 Canetic Resources Trust, one of Canada's largest oil and gas royalty trusts, completed a bought deal financing of 20,769,000 subscription receipts at $22.15 per subscription receipt and $230 million principal amount of convertible extendible unsecured subordinated debentures for gross proceeds of approximately $690 million.

The net proceeds of the financing were used to partially fund Canetic's $900 million acquisition of certain private company assets located in central Alberta and northeastern British Columbia.
The offering was underwritten by a syndicate co-led by BMO Capital Markets, TD Securities Inc. and CIBC World Markets Inc. and included National Bank Financial Inc., RBC Capital Markets, Scotia Capital Inc., Canaccord Capital Corporation, FirstEnergy Capital Corp., Raymond James Ltd., Tristone Capital Inc. and HSBC Securities (Canada) Inc.

Canetic was represented by Burnet, Duckworth & Palmer LLP with a team that included Bill Maslechko and Spencer Coupland (securities) and David Ross and Mike Flatters (tax).
The underwriting syndicate was represented by Stikeman Elliott LLP with a team that included Alyson Goldman, Martin Mix and Lisa Grams (securities) and David Weekes (tax).


Michael J. Flatters Martin Mix William S. Maslechko Lisa M. Grams David G. Weekes Alyson F. Goldman Spencer M. Coupland David W. Ross


Burnet, Duckworth & Palmer LLP Stikeman Elliott LLP