Bonavista Energy Trust
TSX : BNP.UN

Bonavista Energy Trust

August 15, 2006 09:30 ET

Bonavista Energy Trust Confirms Cash Distribution for September 15, 2006

CALGARY, ALBERTA--(CCNMatthews - Aug. 15, 2006) - Bonavista Energy Trust (TSX:BNP.UN) confirms that the monthly cash distribution generated from August production will be $0.33 per trust unit. This monthly distribution is comprised of a base distribution of $0.28 per trust unit, plus a supplementary distribution of $0.05 per trust unit due to the significant strength in commodity prices currently being realized. Although recent natural gas prices have weakened, the current strength in oil prices offsets the shortfall in natural gas prices, and on a combined basis remains above our pricing threshold for Bonavista to maintain its supplemental distribution. Bonavista reviews its distribution policy monthly and determines the distribution rate based upon the current and future commodity price environment, its current operations and investment opportunities. The next monthly distribution will be paid on September 15, 2006 to unitholders of record on August 31, 2006. The ex-distribution date is August 29, 2006.

Bonavista Energy Trust is a natural gas weighted energy trust which is committed to maintaining its emphasis on operating high quality oil and natural gas properties, delivering consistent distributions to unitholders and ensuring financial strength and sustainability.

Contact Information

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