-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JM6zrrHU2qTPEwYGUv/mbTdNtR4UpriQDyFkrd//oowUC18tC3BhtdMW53l1YbPI VO5EnC5+w8gJ7NEZkizi5Q== 0001279569-08-000096.txt : 20080122 0001279569-08-000096.hdr.sgml : 20080121 20080122085415 ACCESSION NUMBER: 0001279569-08-000096 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080118 FILED AS OF DATE: 20080122 DATE AS OF CHANGE: 20080122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Canetic Resources Trust CENTRAL INDEX KEY: 0001349237 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 000000000 STATE OF INCORPORATION: A0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32728 FILM NUMBER: 08540306 BUSINESS ADDRESS: STREET 1: 1900, 255 - 5TH AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 3G6 BUSINESS PHONE: (403) 539-6300 MAIL ADDRESS: STREET 1: 1900, 255 - 5TH AVENUE S.W. CITY: CALGARY STATE: A0 ZIP: T2P 3G6 6-K 1 canetic6k.htm FORM 6-K canetic6k.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

___________________
 
Form 6-K

 
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2008
Commission File Number 1-32728
 
___________________

Canetic Resources Trust
(Translation of registrant's name into English)
 
1900, 255 – 5th Avenue S.W.
Calgary, Alberta  T2P 3G6
Canada
(Address of principal executive offices)
___________________


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
 Form 20-F o
 Form 40-F þ

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)  o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
 Yes o
 No þ

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):  82-
 
 
 
 
 
DOCUMENTS FILED

See the Exhibit Index hereto for a list of the documents filed herewith and forming a part of this Form 6-K.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 
CANETIC RESOURCES TRUST,
by its administrator, Penn West Petroleum Ltd.
       
  By: /s/ Brian D. Evans  
                                                               
       
  Name:  Brian D. Evans      
       
  Title: Senior Vice President, General Counsel
and Corporate Secretary		  
 
 

Date: January 21, 2008



 
EXHIBIT INDEX

   
Exhibit
Description
99.1
Material Change Report

EX-99.1 2 ex991.htm MATERIAL CHANGE REPORT ex991.htm
Exhibit 99.1
 
MATERIAL CHANGE REPORT
 

 
1.
Name and Address of Reporting Issuer:
 
Canetic Resources Trust ("Canetic")
Suite 2200, 425-1st Street S.W.
Calgary, Alberta T2P 3L8
 
2.
Date of Material Change:
 
January 11, 2008
 
3.
News Release:
 
A press release was issued by Canetic on January 11, 2008 and disseminated through the facilities of Canada Newswire and would have been received by the securities commissions where Canetic is a reporting issuer in the normal course of its dissemination.
 
4.
Summary of Material Change:
 
On January 11, 2008 Penn West Energy Trust ("Penn West") and Canetic completed a plan of arrangement (the "Arrangement") resulting in Penn West's acquisition of Canetic. At a special meeting of holders of trust units of Canetic ("Canetic Unitholders") held in Calgary, Alberta on January 9, 2008, 92.1 percent of the votes cast were in favour of the Arrangement.
 
5.
Full Description of Material Change:
 
5.1 Full Description of Material Change:
 
On January 11, 2008 Penn West and Canetic completed the Arrangement resulting in Penn West's acquisition of Canetic. At a special meeting of Canetic Unitholders held in Calgary, Alberta on January 9, 2008, 92.1 percent of the votes cast were in favour of the Arrangement.
 
Under the Arrangement, Canetic Unitholders received 0.515 of a Penn West trust unit for each Canetic trust unit exchanged. The first distribution that former Canetic Unitholders will be eligible to receive from Penn West will be the distribution payable on or about February 15, 2008 to Penn West unitholders of record on January 31, 2008. Canetic Unitholders of record at the close of business on January 10, 2008 also received a special one-time distribution of CDN $0.09 per Canetic trust unit.  The special distribution, together with the distributions payable on the Penn West trust units (assuming no changes to the distribution policies of Penn West in effect on January 11, 2008), will effectively maintain the equivalent of Canetic's pre-Arrangement monthly cash distributions to Canetic Unitholders for six months following completion of the Arrangement, taking into account the trust unit exchange ratio and the pre-Arrangement monthly distribution levels of Penn West and Canetic. The special distribution was paid on or about January 17, 2008.
 
 
 
 
 
As a result of the Arrangement, the Canetic trust units were de-listed from the Toronto Stock Exchange ("TSX") and the New York Stock Exchange (the "NYSE"). Trust units of Penn West continue to trade on the TSX under the symbol "PWT.UN" and on the NYSE under the symbol "PWE".
 
Furthermore, under the Arrangement Penn West assumed all of the covenants and obligations of Canetic in respect of the four separate classes of outstanding Canetic convertible debentures ("Canetic Debentures"). Holders of Canetic Debentures are entitled to receive 0.515 of a Penn West trust unit in lieu of each Canetic trust unit that the holder was previously entitled to receive on conversion. The revised conversion prices for the Canetic Debentures are as follows: (i) Canetic 6.5 percent debentures issued May 26, 2005 - $36.8155 per Penn West trust unit (27.1625 Penn West trust units per $1,000 principal amount); (ii) Canetic 6.5 percent debentures issued August 24, 2006 - $51.5534 per Penn West trust unit (19.3974 Penn West trust units per $1,000 principal amount); (iii) Canetic 8.0 percent debentures issued June 15, 2004 - $30.2136 per Penn West trust unit (33.0977 Penn West trust units per $1,000 principal amount); and (iv) Canetic 9.4 percent debentures issued July 3, 2003 - $31.1068 per Penn West trust unit (32.1473 Penn West trust units per $1,000 principal amount). The Canetic Debentures have been de-listed from the TSX and now trade as Penn West debentures on the TSX as PWT.DB.A in respect of the 9.4 percent July 2003 series, PWT.DB.B in respect of the 8.0 percent June 2004 series, PWT.DB.D in respect of the 6.5 percent May 2005 series and PWT.DB.F in respect of the 6.5 percent August 2006 series.
 
5.2 Disclosure for Restructuring Transactions:
 
Not Applicable.
 
6.
Reliance on subsection 7.1(2) or (3) of National Instrument 51-102:
 
Not Applicable.
 
7.
Omitted Information:
 
Not Applicable.
 
8.
Executive Officer:
 
Brian D. Evans, Senior Vice President, General Counsel and Corporate Secretary of Penn West Petroleum Ltd., the administrator of Canetic
Telephone:  (403) 539-5908
Facsimile:  (403) 539-5980
 
9.
Date of Report
 
January 18, 2008
 
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