2010-05-18-2010-04-15

To acquire private co. with assets in SW Saskatchewan.

Baytex Energy Trust, Calgary, (NYSE, Toronto: BTE) plans to acquire privately held, Calgary-based Serrano Energy Ltd. for C$40.9 million.

Baytex will pay C$2.256 per share of Serrano, which has heavy oil assets in the Lloydminster area of southwestern Saskatchewan. Production from the acquired assets is approximately 900 barrels of oil per day. Baytex is also acquiring approximately 32,100 net acres of undeveloped land. The acquisition will not affect Baytex' current production mix, which is approximately 80% oil.

The acquisition is expected to close in late May. Cormark Securities Inc. is financial advisor to Serrano.