CALGARY - Crescent Point Energy Trust (TSX:CPG.UN), a Calgary-based oil and natural gas trust, says it has a potential exposure of $30 million to SemCanada Crude Co., a Canadian subsidiary of SemGroup L.P., a U.S. energy marketer which has filed for bankruptcy protection in the United States and Canada.

SemGroup had a contract to sell a portion of the trust's crude oil and liquids production, Crescent Point said Wednesday. That deal has been terminated and does not present any ongoing exposure for the trust, it said.

Crescent Point is the second major trust to

Late Tuesday, ARC Resources Ltd. (TSX:ARX), a subsidiary of ARC Energy Trust (TSX:AET.UN), said it is owed $26.2 million for oil sales to SemCanada.

SemGroup filed for restructuring under Chapter 11 of the Bankruptcy Code in the United States, while its SemCanada unit filed under The Companies' Creditors Arrangement Act.

SemGroup listed assets of US$6.14 billion and liabilities of $7.53 billion in its U.S. filing, Crescent Point said.

Crescent Point's exposure is listed in SemGroup's U.S. bankruptcy filing as $42.5 million based on the U.S. oil marketer's forecasts of prices and production volumes. However, the trust said it expects the actual exposure to be closer to $30 million based on its most recent estimates.

Crescent Point said the financial exposure is not material to the trust's operations and overall financial position or expected record cash flows this year.

Crescent Point expects 2008 to be a record year with production forecast to average 36,250 barrels of oil equivalent output a day.

In Wednesday trading on the TSX, ARC Energy Trust units fell 52 cents to $30.48, while Crescent Point units dropped 76 cents to $33.86.

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