Exhibit 99.1
News release via Canada NewsWire, Calgary 403-269-7605
Attention Business/Financial Editors:
Canetic Resources Trust suspends distribution reinvestment plan
CALGARY, Dec. 6 /CNW/ - (CNE.UN - TSX; CNE - NYSE)- Canetic Resources
Trust ("Canetic") wishes to inform unitholders that it intends to suspend
operation of its existing distribution reinvestment plan ("DRIP") effective
December 19, 2007 such that any distributions paid by Canetic following the
December 14, 2007 distribution will not be eligible for reinvestment under
Canetic's DRIP. The Optional Cash Purchase feature of Canetic's DRIP is
suspended effective immediately. If the announced combination of Penn West
Energy Trust and Canetic is completed as planned, the Canetic DRIP will be
terminated on the effective date of the combination.
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 www.canetictrust.com or
contact Canetic investor relations by email at: Info(at)canetictrust.com 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 (www.sedar.com), the SEC's
website (www.sec.gov) or at Canetic's website (www.canetictrust.com).
%SEDAR: 00023165E %CIK: 0001349237
/For further information: Investor Relations, (403) 539-6300, Toll Free -
1-877-539-6300, info(at)canetictrust.com, www.canetictrust.com/
(CNE.UN. CNE)
CO: Canetic Resources Trust
CNW 13:20e 06-DEC-07