On November 25, 2003, Enterra Energy Corp. completed the successful reorganization of Enterra into Enterra Energy Trust ("the Trust"). The restructuring plan received approval at the special meeting of shareholders of Enterra, as well as from the Court of Queen's Bench of Alberta. The trust units began trading on the Toronto Stock Exchange under the symbol "ENT.UN" and on NASDAQ under the symbol "EENCD" on Friday, November 28, 2003.

The reorganization plan allows for holders of Enterra common shares to receive two trust units, or two exchangeable shares, for each Enterra common share held. As a result, the Trust currently has issued and outstanding a total of approximately 19 million trust units.

Team: Gray Jennings, Joe Poff, Tull Florey, Ian Brown, Hillary Holmes, Josh Hancock and Alia Vinson, all of Houston, represented Enterra Energy as U.S. counsel on federal income tax and certain securities laws matters.