Petrofund Energy Trust

Petrofund Energy Trust

January 05, 2005 12:20 ET

Petrofund Energy Trust Announces Cash Distributions for First Quarter 2005


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PETROFUND ENERGY TRUST

TSX SYMBOL: PTF.UN
AMEX SYMBOL: PTF

JANUARY 5, 2005 - 12:20 ET

Petrofund Energy Trust Announces Cash Distributions
for First Quarter 2005

CALGARY, ALBERTA--(CCNMatthews - Jan. 5, 2005) - Petrofund Energy Trust
(TSX:PTF.UN) (AMEX:PTF) announced today a January, 2005 cash
distribution of C$0.16 per unit. Based on current commodity prices and
market conditions, Petrofund expects to maintain the $0.16 distribution
for both the February and March distribution months.

Petrofund distributes the majority of its cash flow to unitholders on a
monthly basis, retaining a significant portion to fund drilling and
development projects designed to improve the sustainability of future
distributions. Petrofund paid out 70% of its cash flow in 2003 and 75%
in the third quarter of 2004.



The applicable payable dates for each of the distribution periods
are listed below:

---------------------------------------------------------------------
Ex-Distribution
Distribution Record Date Date(1) Payable Date
---------------------------------------------------------------------
January January January
C$0.16 per unit 17, 2005 13, 2005 31, 2005
---------------------------------------------------------------------
February February February
C$0.16 per unit(2) 14, 2005 10, 2005 28, 2005
---------------------------------------------------------------------
March March March
C$0.16 per unit(2) 16, 2005 14, 2005 31, 2005
---------------------------------------------------------------------

1. Anticipated ex-distribution dates for February and March. These
dates are subject to change and/or confirmation by the Toronto
Stock Exchange and will be confirmed in the February and March
distribution press releases.

2. These distributions reflect Petrofund's current expectation with
regard to near term performance and are subject to change based
on actual market conditions.


Registered unitholders will receive their distributions directly from
our transfer agent. Those with US addresses are paid in US currency
using the exchange rate in effect on the record date. Based on an
exchange rate of C$1.2234/US$1.00, the January distribution would be
US$0.1308 per unit (before deduction of withholding taxes).
Non-registered unitholders will receive their distributions through
their brokers.

Petrofund's 12-month aggregate trailing distributions (January 2005
inclusive) are C$1.92 per unit, which represents a cash-on-cash yield of
12.27% per year based on the closing price of C$15.65 per unit on the
Toronto Stock Exchange on January 4, 2005.

Petrofund Energy Trust is a Calgary based royalty trust that acquires
and manages producing oil and gas properties in Western Canada. The
Trust makes monthly cash distributions to unitholders, which are derived
from the Trust's cash flow from these properties. Petrofund Energy Trust
was founded in 1988 and was one of the first oil and gas royalty trusts
in Canada.

This news release may include statements about expected future events
and/or financial results that are forward-looking in nature and subject
to risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward-looking statements provisions
contained in the U.S. Private Securities Litigation Reform Act of 1995.
Petrofund Energy Trust cautions that actual performance will be affected
by a number of factors, many of which are beyond its control. Future
events and results may vary substantially from what Petrofund Energy
Trust currently foresees. Discussion of the various factors that may
affect future results is contained in Petrofund Energy Trust's recent
filings with the Securities and Exchange Commission and Canadian
securities regulatory authorities.

PETROFUND ENERGY TRUST

Jeffery E. Errico

President and Chief Executive Officer








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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Petrofund Energy Trust
    Investor Relations
    (403) 218-4736 or Toll Free: 1-866-318-1767
    (403) 539-4300 (FAX)
    Email: info@petrofund.ca
    Website: www.petrofund.ca
    or
    Petrofund Energy Trust
    Chris Dutcher
    Director, Business Development
    (403) 218-8625