Bonavista Energy Trust

Bonavista Energy Trust

February 01, 2010 16:01 ET

Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - Feb. 1, 2010) - Bonavista Energy Trust (TSX:BNP.UN) is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Bonavista Petroleum Ltd. from 2.22925 to 2.24429. This increase will be effective on February 15, 2010.

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

Five day
Trading Effective
Price of Date
Bonavista BNP.UN of the Exchange
Record Date Energy (Prior Increase Increase Ratio
of Bonavista Opening Trust to the in in as of
Energy Trust Exchange Distribution end of Exchange Exchange Effective
Distribution Ratio per Unit the Month) Ratio(1) Ratio Date
January 31, February 15,
2010 2.22925 $0.16 $23.71 0.01504 2010 2.24429

(1) 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 for detailed corporate information.

Contact Information

  • Glenn A. Hamilton
    Senior Vice President & CFO
    (403) 213-4300
    Bonavista Energy Trust
    700, 311 - 6th Avenue SW
    Calgary, AB T2P 3H2