Bonavista Energy Trust

Bonavista Energy Trust

October 01, 2007 16:14 ET

Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - Oct. 1, 2007) - Bonavista Energy Trust (TSX:BNP.UN) is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Bonavista Petroleum Ltd. from 1.66859 to 1.68579. This increase will be effective on October 15, 2007.

The following are the details of the calculation of the Exchange Ratio:

Five day
Price of Effective
Bonavista (Prior of the Exchange
Record Date Energy to the Increase Increase Ratio as
of Bonavista Opening Trust end of in in of
Energy Trust Exchange Distribution the Exchange Exchange Effective
Distribution Ratio per Unit Month) Ratio (xx) Ratio Date
September 30, October 15,
2007 1.66859 $0.30 $29.10 .01720 2007 1.68579

(xx) The increase in the Exchange Ratio is calculated by multiplying the
Bonavista Energy Trust Distribution per Unit by the Exchange Ratio
immediately prior to the Record Date and dividing by the five day
weighted average trading price of BNP.UN.

A holder of Bonavista Petroleum Ltd. Exchangeable Shares can exchange all or a portion of their holdings into Bonavista Energy Trust Units, at any time, by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office in Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.

Please visit our website at for detailed corporate information.

Contact Information

  • Bonavista Energy Trust
    Keith A. MacPhail
    President & CEO
    (403) 213-4300
    Ronald J. Poelzer
    Executive Vice President & CFO
    (403) 213-4300
    Greg R. Warner
    Vice President, Treasury & Tax
    (403) 213-4300
    700, 311 - 6th Avenue SW
    Calgary, AB T2P 3H2