Bonavista Energy Trust
TSX : BNP.UN

Bonavista Energy Trust

August 01, 2008 13:52 ET

Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - Aug. 1, 2008) - Bonavista Energy Trust (TSX:BNP.UN) is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Bonavista Petroleum Ltd. from1.84491 to 1.86231. This increase will be effective on August 15, 2008.



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



----------------------------------------------------------------------------
Five day
Weighted
Average
Trading Effective
Price of Date of
Bonavista BNP.UN the Exchange
Record Date Energy (Prior to Increase Increase Ratio as
of Bonavista Opening Trust the end in in of
Energy Trust Exchange Distribution of the Exchange Exchange Effective
Distribution Ratio per Unit Month) Ratio (1) Ratio Date
----------------------------------------------------------------------------
July 31, 2008 1.84491 $0.30 $31.81 .01740 August 1.86231
15, 2008
----------------------------------------------------------------------------

(1) 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 www.bonavistaenergy.com for detailed corporate information.

Contact Information

  • Bonavista Energy Trust
    Keith A. MacPhail
    President & CEO
    (403) 213-4300
    or
    Ronald J. Poelzer
    Executive Vice President
    (403) 213-4300
    or
    Glenn A. Hamilton
    Senior Vice President & CFO
    (403) 213-4300
    or
    700, 311 - 6th Avenue SW
    Calgary, AB T2P 3H2
    (403) 213-4300
    Website: www.bonavistaenergy.com