Bonavista Energy Trust
TSX : BNP.UN

Bonavista Energy Trust

November 15, 2010 17:35 ET

Bonavista Energy Trust Confirms Cash Distribution for December 15, 2010

CALGARY, ALBERTA--(Marketwire - Nov. 15, 2010) - Bonavista Energy Trust ("Bonavista") (TSX:BNP.UN) confirms that its monthly cash distribution generated from November production will be $0.16 per trust unit and payable on December 15, 2010. We will continue to carefully monitor the impact of all issues affecting our business and, adjust our monthly distributions and our capital programs as conditions evolve. For 2010, our objective is to set a distribution policy at prudent levels of up to 50% of funds from operations while withholding sufficient funds to finance capital expenditures required to modestly grow our current production base. This in turn, provides for a stronger base of cash flow forfuture sustainable distributions. Our distribution policy is reviewed monthly and is based on a number of factors including current and future commodity prices, foreign exchange rates, our commodity hedging program, our current operations and future investment opportunities. Bonavista has declared this distribution to be paid on December 15, 2010 for unitholders of record on November 30, 2010 with an ex-distribution date of November 26, 2010.

Forward Looking Statements

Corporate information provided herein contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, particularly those pertaining to cash distributions, production volumes, commodity prices, operating costs and drilling results, which are considered reasonable by Bonavista at the time of preparation, may be proven to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. There is no representation by Bonavista that actual results achieved during the forecast period will be the same in whole or in part as those forecasts.

Contact Information

  • Keith A. MacPhail
    Chairman & CEO
    (403) 213-4300
    or
    Jason E. Skehar
    President & COO
    (403) 213-4300
    or
    Ronald J. Poelzer
    Executive Vice President
    (403) 213-4300
    or
    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