Peyto Energy Trust

February 17, 2010 17:09 ET

Peyto Energy Trust Achieves $1 Billion Cumulative Distribution Milestone and Confirms Cash Distributions for March 15, 2010

CALGARY, ALBERTA--(Marketwire - Feb. 17, 2010) - Peyto Energy Trust ("Peyto") (TSX:PEY.UN) confirms that the monthly distribution with respect to February 2010 of $0.12 per trust unit is to be paid on March 15, 2010, for unitholders of record on February 28, 2010. The ex-distribution date is February 24, 2010.

With the February 2010 distribution payment, Peyto has now achieved a milestone of $1 billion of cumulative distributions ($9.67/unit).

Peyto began in 1998 as a Canadian junior exploration and production company with a strategy to create shareholder value by investing in the exploration and development of new, high quality, long life natural gas reserves in Western Canada. With a total of $504 million of shareholder and unitholder capital, Peyto has discovered 1.5 TCFe of natural gas reserves and built a production base of over 125 MMcfe/d. As one of the lowest cost operators in the industry, Peyto has generated close to $1.1 billion in earnings over that time and using the Trust structure has now distributed $1 billion of that to unitholders. Since converting to a Trust in 2003, the compound annual total return, including distributions, has been greater than 18%/year.

This financial performance is a testament to the success of the Peyto strategy and the unwavering commitment to deliver industry leading returns for unitholders. This success will continue as Peyto focuses on its last year as a Trust. At the end of 2010, Peyto plans to convert back to a corporation with the continued ability to return profits from the success of the business to shareholders in the form of dividends.

Peyto trades on the Toronto Stock Exchange under the symbol PEY.UN and has 115 million units outstanding. We encourage you to actively visit Peyto's website located at where you will find monthly reports that follow the progress of Peyto's capital program.

Certain information set forth in this document, including management's assessment of Peyto's future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Peyto's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Peyto will derive therefrom. Peyto disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • Peyto Energy Trust
    Darren Gee
    President and Chief Executive Officer
    (403) 237-8911
    (403) 261-8976 (FAX)