Date Closed

June 19, 2007

Lead Office

Calgary

Value

238.00 Million CAD

On June 26, 2007 Baytex Energy Trust closed a C$238 million acquisition of certain petroleum and natural gas properties and related assets located primarily in the Pembina and Lindbergh areas of Alberta. Baytex partially financed the acquisition with the proceeds of a bought deal subscription receipt financing grossing C$149.45 million, which closed on June 19, 2007.

The offering was underwritten by a syndicate led by TD Securities Inc. and including FirstEnergy Capital Corp., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Cannaccord Capital Corp., Peters & Co. Limited, Raymond James Ltd., Cormack Securities Inc. and Dundee Securities Corporation.

Baytex is a conventional oil and gas income trust headquartered in Calgary.

The underwriters were represented by McCarthy Tétrault LLP with a team that included Michael Bennett.