Bonavista Energy Trust

Bonavista Energy Trust

April 04, 2006 11:33 ET

Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(CCNMatthews - April 4, 2006) - 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 1.40159 to 1.41402. This increase will be effective on April 17, 2006.

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

Five day
Record Trading Effective
Date of Bonavista Price of Date
Bonavista Energy BNP.UN of the Exchange
Energy Trust (Prior Increase Increase Ratio
Trust Opening Distri- to the in in as of
Distri- Exchange bution end of Exchange Exchange Effective
bution Ratio per Unit the Month) Ratio (xx) Ratio Date
March 31, April 17,
2006 1.40159 $0.33 $37.21 0.01243 2006 1.41402

(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 for detailed corporate information.

Contact Information

  • Bonavista Energy Trust
    Keith A. MacPhail
    President & CEO
    (403) 213-4300
    Ronald J. Poelzer
    Executive Vice President & CFO
    (403) 213-4300
    Greg R. Warner
    Vice President, Treasury & Tax
    (403) 213-4300