Peyto Energy Trust
TSX : PEY.UN

March 25, 2010 17:27 ET

Peyto Energy Trust Files Annual Information Form, Announces Expanded Credit Facility and Updated Hedging

CALGARY, ALBERTA--(Marketwire - March 25, 2010) - Peyto Energy Trust ("Peyto" or "the Trust") (TSX:PEY.UN) today announces that it has filed its Annual Information Form ("AIF"), which includes Peyto's reserves data and other oil and gas information for the year ended December 31, 2009 as mandated by National Instruments 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators. Copies of Peyto's AIF may be obtained on www.sedar.com and Peyto's website at www.peyto.com.

Peyto is also pleased to announce that the Trust's banking syndicate, lead by Bank of Montreal, has expanded its revolving credit facility to $625 million. This expanded credit facility is a result of the bank's annual engineering review of the Trust's assets and is a reflection of the inherent value of Peyto's high quality, long life, and low cost reserves.

The Trust has a marketing strategy that is designed to provide price certainty and smooth out the short term fluctuations in the price of natural gas through future sales. As an ongoing program, Peyto has already achieved much price certainty for production sold or to be sold in 2010 by securing an average price of approximately $6.73/mcf for 52.5 mmcf/d of natural gas (22.4 million gigajoules (GJ) at $5.75/GJ, using Peyto historical heat content). This volume represents approximately 50% of the Trust current gas production. Beyond 2010, Peyto has secured an average price of $5.93/GJ for an additional 11.2 million gigajoules sold in 2011 and 2012. Additional details regarding Peyto's marketing strategy and current hedges are available in the updated corporate presentation at www.peyto.com.

Peyto trades on the Toronto Stock Exchange under the symbol PEY.UN. Peyto Energy Trust is a natural gas weighted energy trust that is committed to building value through the exploration and development of high quality gas properties. We encourage you to actively visit Peyto's website where you will find a wealth of information designed to educate and inform. 

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. 

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)