Baytex's E&P CAPEX Yields 94% Success Rate in Q4 2007

Baytex Energy Trust reported that capital expenditures for exploration and development activities totaled $34.3 million for the fourth quarter of 2007. During this quarter, Baytex participated in the drilling of 16 (12.2 net) wells, resulting in 11 (9.9 net) oil wells, three (0.3 net) gas wells, one (1.0 net) service well and one (1.0 net) dry hole for a 94% (91.9% net) success rate.

In addition, two wells were drilled by other operators on farm-outs from Baytex, with Baytex retaining overriding royalty interests.