March 22, 2006 – Enterra Energy Trust (“Enterra”) (NYSE: ENT and TSX: ENT.UN) announced that its indirect subsidiary, Enterra Acquisitions Corporation, has completed the second closing of its previously announced $220 million acquisition of producing assets located in Oklahoma.
Enterra entered into a $200 million senior secured bridge credit facility with Fortress Credit Corp. to fund these and expected additional near term Oklahoma asset acquisitions and provide additional working capital to Enterra. Enterra has also entered into a CAD $110 million senior secured bridge credit facility with Brookfield Bridge Lending Fund Inc., which replaced Enterra’s existing Canadian credit facilities.
Bryant Park Capital acted as Enterra’s exclusive financial advisor for this debt financing.
“Bryant Park Capital’s advice and involvement throughout the financing and closing stages of our transaction were critical to the ultimate closing. The principals of BPC, with whom we had the pleasure to work, were wholly and completely dedicated to the task at hand and through their diligence, their experience, their determination and their tireless effort Enterra was able to overcome the challenges of a complex cross-border transaction in a timely and professional manner. Thank you Bryant Park Capital.”