Mr. Brian Ector reports

BAYTEX ANNOUNCES PROPOSED US$500 MILLION PRIVATE PLACEMENT OFFERING OF SENIOR NOTES

Baytex Energy Corp. intends to offer $500-million (U.S.) aggregate principal amount of senior unsecured notes due 2032 in a private placement offering, subject to market and other conditions. The notes will pay interest semi-annually in arrears. The final terms of the notes will be determined at the time of pricing of the notes.

Baytex intends to use the net proceeds from the offering: to redeem $409.8-million (U.S.) aggregate principal amount of its outstanding 8.75 per cent notes due April 1, 2027; to repay a portion of the debt outstanding on its credit facilities; and for general corporate purposes.

Pursuant to the terms of the indenture governing the 2027 notes, Baytex intends to issue a conditional notice of redemption to redeem all of the outstanding 2027 notes, which redemption will be conditional upon the successful completion of the offering.

About Baytex Energy Corp.

Baytex Energy is an energy company with headquarters based in Calgary, Alta., and offices in Houston, Tex. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States.

We seek Safe Harbor.