Bonavista Energy Trust
TSX : BNP.UN

Bonavista Energy Trust

February 17, 2009 16:01 ET

Bonavista Energy Trust Confirms Cash Distribution for March 16, 2009

CALGARY, ALBERTA--(Marketwire - Feb. 17, 2009) - Bonavista Energy Trust ("Bonavista") (TSX:BNP.UN) announces that the monthly cash distribution generated from February production will be $0.20 per trust unit. We will continue to closely monitor the impact of all issues affecting our business and the necessity to adjust our monthly distribution and our capital program as economic conditions evolve. Our objective is to set a distribution policy at prudent levels while withholding sufficient funds to finance capital expenditures required to maintain or modestly grow our current production base. This in turn, should provide a stronger base of cash flow leading to consistent and sustainable distributions into the future. 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 available investment opportunities.

Bonavista has declared this distribution to be paid on March 16, 2009 for unitholders of record on February 28, 2009 with an ex-distribution date of February 25, 2009.

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 forecast.

Contact Information

  • Bonavista Energy Trust
    Keith A. MacPhail
    Chairman & CEO
    (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
    700, 311 - 6th Avenue SW
    Calgary, AB T2P 3H2
    Website: www.bonavistaenergy.com