BlackWatch Energy Services Trust
TSX : BWT.UN

BlackWatch Energy Services Trust

December 19, 2006 19:52 ET

BlackWatch Energy Services Trust Announces December Distribution and Closing of Credit Facility

CALGARY, ALBERTA--(CCNMatthews - Dec. 19, 2006) - BlackWatch Energy Services Trust (TSX:BWT.UN) ("BlackWatch" or the "Trust") announces today that the December cash distribution will be $0.0916 per trust unit. The distribution will be paid on January 15, 2007 to unitholders of record on December 29, 2006.

BlackWatch is also pleased to announce the closing of a new $80 million revolving credit facility that replaces the existing $48 million bridge facility. The syndicated facility, comprised of a group of major Canadian banks, is led by the Bank of Nova Scotia and will facilitate future growth initiatives.

ABOUT BLACKWATCH ENERGY SERVICES TRUST

BlackWatch Energy Services Trust is a growth-oriented energy services trust that provides a range of services to its customers operating in the Western Canadian Sedimentary Basin including drilling, wireline services, rig transportation and hauling, coil tubing well servicing, oilfield equipment leasing and rental services and production services. The units of BlackWatch trade on the Toronto Stock Exchange under the symbol "BWT.UN".

This press release may contain forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performance or achievements of BlackWatch to be materially different from results, performance or achievements expressed or implied by forward-looking statements. Such factors include, but are not limited to fluctuations in the market for oil and gas and related products and services, political and economic conditions, the demand for BlackWatch's services, competition and BlackWatch's ability to attract and retain customers and employees.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • BlackWatch Energy Services Trust
    Earl Connors
    President and Chief Executive Officer
    (403) 225-3879
    (403) 366-2067 (FAX)
    or
    BlackWatch Energy Services Trust
    Paul Partlo
    Vice President and Chief Financial Officer
    (403) 225-3879
    (403) 366-2067 (FAX)
    or
    BlackWatch Energy Services Trust
    #300, 855 8th Avenue SW
    Calgary, AB T2P 3P1
    Website: www.blackwatchenergy.ca