Bonavista Energy Trust

Bonavista Energy Trust

March 03, 2008 13:48 ET

Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - March 3, 2008) - 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 1.76049 to 1.77794. This increase will be effective on March 17, 2008.

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

Five day
Trading Effective
Price of Date of
Bonavista BNP.UN the Exchange
Record Date Energy (Prior to Increase Increase Ratio as
of Bonavista Opening Trust the end in in of
Energy Trust Exchange Distribution of the Exchange Exchange Effective
Distribution Ratio per Unit Month) Ratio (xx) Ratio Date
February 29, March 17,
2008 1.76049 $0.30 $30.26 .01745 2008 1.77794

(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.

Contact Information

  • Bonavista Energy Trust
    Keith A. MacPhail
    President & CEO
    (403) 213-4300
    Ronald J. Poelzer
    Executive Vice President & CFO
    (403) 213-4300
    700, 311 - 6th Avenue SW
    Calgary, Alberta T2P 3H2