BlackWatch Energy Services Trust

BlackWatch Energy Services Trust

October 18, 2007 23:59 ET

M. Bruce Chernoff Acquires Securities of BlackWatch Energy Services Trust

CALGARY, ALBERTA--(Marketwire - Oct. 18, 2007) - On October 4, 2007, M. Bruce Chernoff ("Chernoff"), through an entity controlled by him, acquired ownership and control of 1,046,103 trust units of BlackWatch Energy Services Trust ("BlackWatch") and 1,666,667 BlackWatch warrants (the "Warrants"), each of which allows the holder to purchase one (1) BlackWatch trust unit for $1.68 per trust unit, which securities were issued pursuant to the terms of a credit agreement entered into by BlackWatch with an entity controlled by Chernoff. As a result, Chernoff, directly or indirectly through entities controlled by him, has increased his ownership or control of securities of BlackWatch to 4,332,678 trust units, 1,274,638 exchangeable units and 1,666,667 Warrants. Such BlackWatch trust units and exchangeable units represent, in aggregate, 17.9% of the outstanding trust units and exchangeable units of the Trust.

Contact Information

  • BlackWatch Energy Services Trust
    300, 855 - 8 Avenue SW
    Calgary, Alberta T2P 3P1
    (403) 225-3879
    (403) 366-2066 (FAX)