Baytex Energy Trust (Baytex) is an open-end investment trust. The Company’s crude oil and natural gas operations are organized into Canadian Heavy Oil, Canadian Conventional Oil and Gas and United States business units. Baytex invested approximately $82 million in land targeting three light oil resource plays. These plays include the Bakken/Three Forks in the Williston Basin of North Dakota, the Viking in southwestern Saskatchewan and eastern Alberta and a Mowry Shale exploratory play in the Powder River Basin of eastern Wyoming. Baytex’s heavy oil operations consist predominantly of cold primary production, without the assistance of steam injection. The Conventional Oil and Gas business unit produces light and medium gravity crude oil, natural gas and natural gas liquids (NGL) from various fields in Alberta and British Columbia. On June 4, 2008, the Company acquired all of the issued and outstanding shares of Burmis Energy Inc. (Burmis).