Exhibit 99.1
News release via Canada NewsWire, Calgary 403-269-7605
Attention Business Editors:
Canetic Resources Trust files Preliminary Short Form Prospectus
CALGARY, Aug. 9 /CNW/ - (NYSE:CNE, TSX:CNE.UN, CNE.DB.A, CNE.DB.B,
CNE.DB.C, CNE.DB.D, and CNE.DB.E) - Canetic Resources Trust ("Canetic" or the
"Trust") is pleased to announce that it has filed a Preliminary Short Form
Base Shelf Prospectus (the "Prospectus") with the securities regulatory
authorities in Canada and a Registration Statement with the United States
Securities and Exchange Commission. This registration will allow Canetic to
offer and issue Trust Units and Subscription Receipts convertible into Trust
Units (the Trust Units and Subscription Receipts are collectively referred to
as the "Securities") by way of one or more Prospectus Supplements at any time
during the 25-month period that the Prospectus remains in place. The
Securities may be issued from time to time, with an aggregate offering amount
not to exceed Cdn. $750,000,000.
Unless otherwise indicated in a Prospectus Supplement relating to a
particular offering of the Securities, Canetic intends to use the net proceeds
from the sale of any Securities for general trust purposes, repayment of
indebtedness and/or the direct or indirect financing of future growth
opportunities, including acquisitions, and capital expenditures.
A Registration Statement relating to the Securities has been filed with
the SEC but has not yet become effective. The Securities may not be sold, nor
may offers to buy be accepted, before the Registration Statement becomes
effective. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the Securities, nor shall there be any sale of
the Securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction.
A copy of the Prospectus included in the U.S. Registration Statement can
be obtained upon request by contacting Investor Relations at the contact
information below.
About Canetic
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.
ADVISORY: Certain information in this press release constitutes
forward-looking statements under applicable securities law. Any statements
that are contained in this press release that are not statements of historical
fact may be deemed to be forward-looking statements. Forward-looking
statements are often identified by terms such as "may", "should",
"anticipate", "expects", and similar expressions. Forward-looking statements
in this press release include, but are not limited to, statements with respect
to the net proceeds for the purposes disclosed in this press release.
Forward-looking statements necessarily involve known and unknown risks,
including, without limitation, risks associated with oil and gas production,
marketing and transportation; loss of markets; volatility of commodity prices;
currency and interest rate fluctuations; imprecision of reserve estimates;
environmental risks; competition; incorrect assessment of the value of
acquisitions; failure to realize the anticipated benefits of acquisitions;
inability to access sufficient capital from internal and external sources; and
changes in legislation, including but not limited to income tax, environmental
laws and regulatory matters. Readers are cautioned that the foregoing list of
factors is not exhaustive.
Readers are cautioned not to place undue reliance on forward-looking
statements as there can be no assurance that the plans, intentions or
expectations upon which they are placed will occur. Such information, although
considered reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly
qualified by this cautionary statement.
Additional information on these and other factors that could affect
Canetic's operations or financial results are included in Canetic's reports on
file with Canadian and U.S. securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com), the SEC's website
(www.sec.gov), Canetic's website (www.canetictrust.com) or by contacting
Canetic. Furthermore, the forward-looking statements contained in this news
release are made as of the date of this news release, and Canetic does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by securities law.
%SEDAR: 00023165E %CIK: 0001349237
/For further information: Investor Relations, Phone: (403) 539-6300 or
Toll Free, 1-877-539-6300, info(at)canetictrust.com, www.canetictrust.com/
(CNE CNE.UN. CNE.DB.A. CNE.DB.B. CNE.DB.C. CNE.DB.D. CNE.DB.E.)
CO: Canetic Resources Trust
CNW 16:26e 09-AUG-07