Trilogy Energy Trust
TSX : TET

Trilogy Energy Trust

March 26, 2010 15:30 ET

Trilogy Energy Corp. Implements a Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - March 26, 2010) - Trilogy Energy Corp. ("Trilogy") (TSX:TET) announces today that it has made the necessary filings, and received the necessary approvals, to make a normal course issuer bid through the facilities of the Toronto Stock Exchange ("TSX"). Trilogy may purchase up to 5,104,163 of its common shares ("Common Shares"), representing approximately 10% of the 51,041,635 public float outstanding as at March 25, 2010, for cancellation under the bid. As of March 25, 2010, the total issued and outstanding number of Common Shares was 84,162,110. Pursuant to section 628 of the TSX Company Manual, Trilogy is permitted under the bid to acquire up to 25 percent of the average daily trading volume, being 38,861 Common Shares, per day. Purchases under the bid may be made during the period beginning on March 30, 2010 and ending on March 29, 2011, or on such earlier date as Trilogy may complete its purchases under the bid. The price Trilogy will pay for any Common Shares purchased under the bid will be the market price at the time of purchase.

During the preceding twelve month period from March 24, 2009 until March 23, 2010, Trilogy Energy Trust (predecessor to Trilogy Energy Corp.) purchased and cancelled 144,400 units of Trilogy Energy Trust ("Trust Units") at an average price of $8.45 per Trust Unit under its normal course issuer bid then in place.

Trilogy believes that, from time to time, the repurchase of its Common Shares for cancellation could represent an appropriate use of its funds to enhance the underlying value of its remaining Common Shares.

About Trilogy

Trilogy is a petroleum and natural gas-focused Canadian energy corporation that actively acquires, develops, produces and sells natural gas, crude oil and natural gas liquids. Trilogy's common shares are listed on the Toronto Stock Exchange under the symbol "TET".

Contact Information

  • Trilogy Energy Corp.
    J.H.T. (Jim) Riddell
    President and Chief Executive Officer
    (403) 290-2900
    (403) 263-8915 (FAX)
    or
    Trilogy Energy Corp.
    M.G. (Mike) Kohut
    Chief Financial Officer
    (403) 290-2900
    (403) 263-8915 (FAX)
    or
    Trilogy Energy Corp.
    J. B. (John) Williams
    Chief Operating Officer
    (403) 290-2900
    (403) 263-8915 (FAX)
    or
    Trilogy Energy Corp.
    #1400, 332 - 6th Avenue S.W.
    Calgary, Alberta T2P 0B2