Bonavista Energy Trust
TSX : BNP.UN

Bonavista Energy Trust

December 01, 2010 16:05 ET

Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - Dec. 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 2.38222 to 2.39600. This increase will be effective on December 15, 2010.

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

Record Date of Bonavista Energy Trust Distribution   Opening Exchange Ratio   Bonavista Energy Trust Distribution per Unit   Five day Weighted Average Trading Price of BNP.UN (Prior to the end of the Month)   Increase in Exchange Ratio (1)   Effective Date of the Increase in Exchange Ratio   Exchange Ratio as of Effective Date
November 30, 2010   2.38222   $0.16   $27.67   0.01378   December 15, 2010   2.39600
  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 www.bonavistaenergy.com for detailed corporate information.

Contact Information

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