Bonavista Energy Trust
TSX : BNP.UN

Bonavista Energy Trust

June 04, 2007 12:19 ET

Bonavista Energy Trust Announces Correction to June 1, 2007 Press Release Announcing Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - June 4, 2007) - Bonavista Energy Trust (TSX:BNP.UN) release sent out June 1, 2007 at 12:13 EST announcing the Exchangeable Share Ratio effective June 15, 2007 should have read 1.60364 to 1.61881, not 1.60634 to 1.62154. The complete and corrected version follows.



The following are the details of the calculation of the Exchange Ratio:

----------------------------------------------------------------------------
Five day
Weighted
Average
Trading
Price of Effective
BNP.UN Date
Bonavista (Prior of the Exchange
Record Date Energy to the Increase Increase Ratio as
of Bonavista Opening Trust end of in in of
Energy Trust Exchange Distribution the Exchange Exchange Effective
Distribution Ratio per Unit Month) Ratio (xx) Ratio Date
----------------------------------------------------------------------------

May 31, June 15,
2007 1. 60364 $0.30 $31.71 0.01517 2007 1.61881

(xx) The increase in the Exchange Ratio is calculated by multiplying the
Bonavista Energy Trust Distribution per Unit by the Exchange Ratio
immediately prior to the Record Date and dividing by the five day
weighted average trading price of BNP.UN.


A holder of Bonavista Petroleum Ltd. Exchangeable Shares can exchange all or a portion of their holdings into Bonavista Energy Trust Units, at any time, by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office in Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.

Contact Information

  • Bonavista Energy Trust
    Keith A. MacPhail
    President & CEO
    (403) 213-4300
    or
    Ronald J. Poelzer
    Executive Vice President & CFO
    (403) 213-4300
    or
    Greg R. Warner
    Vice President, Treasury & Tax
    (403) 213-4300
    or
    700, 311 - 6th Avenue SW
    Calgary, AB T2P 3H2
    (403) 213-4300
    Website: www.bonavistaenergy.com