Pengrowth Energy Trust
NYSE : PGH
TSX : PGF.UN

Pengrowth Energy Trust

September 21, 2009 17:18 ET

Pengrowth Energy Trust Announces Cash Distribution For October 15, 2009 and Updates Its Hedge Position

CALGARY, ALBERTA--(Marketwire - Sept. 21, 2009) - Pengrowth Corporation, administrator of Pengrowth Energy Trust (TSX:PGF.UN) (NYSE:PGH), today announced its October 15, 2009 cash distribution will be Cdn $0.10 per trust unit. The distribution is net of amounts withheld to partially finance capital expenditures and preserve financial flexibility. The ex-distribution date is September 28, 2009. The distribution will be payable to all Pengrowth unitholders who hold trust units on the record date of September 30, 2009.

The distribution of Cdn $0.10 per trust unit is equivalent to approximately U.S. $0.09385 per trust unit using a U.S./Canadian dollar exchange ratio of 0.9385. The actual U.S. dollar equivalent distribution will be based upon the actual U.S./Canadian exchange rate applied on the payment date, net of applicable Canadian withholding taxes. This distribution relates to the production month of August 2009. Cash distributions paid over the past 12 months now total Cdn $1.72 per trust unit or approximately U.S. $1.46 per trust unit.

Pengrowth will continue to evaluate opportunities to address the imposition of the SIFT tax in 2011 and currently anticipates converting to a dividend paying corporation at an optimal time prior to 2013.

In response to continuing volatility in natural gas prices, Pengrowth has entered into some additional gas hedges. Pengrowth's current hedge position for oil and gas is summarized below:



Natural Gas Year Hedged Price
(Mmbtu/day) CDN/Mmbtu
----------------------------------------------------------------------------
(remainder of year) 2009 74,760 8.00
2010 94,783 6.11
2011 33,174 5.77


Crude Oil Year Hedged Price
(Bbls/day) CDN/Bbl
----------------------------------------------------------------------------
(remainder of year) 2009 15,500 82.45
2010 12,500 82.09
2011 500 82.44


PENGROWTH CORPORATION

Derek Evans, President and Chief Executive Officer

Contact Information