Builders Energy Services Trust

Builders Energy Services Trust

July 20, 2005 13:46 ET

Builders Energy Services Trust Announces July Distribution

CALGARY, ALBERTA--(CCNMatthews - July 20, 2005) - Builders Energy Services Trust (TSX:BET.UN) announced today that the cash distribution for the period July 1, 2005 to July 31, 2005 has been set at $0.12 per Trust Unit.

The cash distribution will be paid on August 15, 2005 to unitholders of record on July 29, 2005.

In addition, Builders Energy Services Ltd. ("Builders") announces the following role changes for certain of its existing Officers and Directors, effective immediately. These changes reflect an evolution of roles in Builders' executive team and Board which correlates with the ongoing growth and development of Builders over the past six months:

- Garnet K. Amundson, the Chief Executive Officer of Builders is now President and Chief Executive Officer. Mr. Amundson remains a Director of Builders;

- John C. Eadie moves from Chief Financial Officer and Corporate Secretary to Senior Vice President and Corporate Secretary;

- John W. Nearing moves from Vice President, Finance and Administration to Vice President, Finance and Chief Financial Officer;

- Earl B. Lewis has accepted the role of Chairman of the Board of Directors of Builders and has resigned his executive position as President;

- James A. Banister, the previous Chairman of the Board, will continue to be a Director of Builders.

All other Officer and Board positions remain unchanged.

Based in Calgary, Builders Energy Services Trust is an open-end unincorporated investment trust governed by the laws of the Province of Alberta and was established to acquire and operate entities that engage in oilfield services. The principal undertaking of the Trust, through its indirect wholly-owned subsidiaries, is to provide a variety of services to oil and gas exploration and production companies in western Canada, including oilfield services, oilfield transportation and oilfield equipment sales and rentals. Builders' Trust Units are listed on the Toronto Stock Exchange and trade under the symbol "BET.UN".

Certain measures are not recognized under Canadian generally accepted accounting principles (GAAP) and are provided where Management believes they assist the reader in understanding the Trust's results. These measures include: earnings before interest, taxes, depreciation, amortization and non-cash charges (EBITDA); gross margin, which refers to revenues less operating expenses; cash flow or cash flow from operations, which refers to cash flow from operations before changes in non-cash working capital; distributable cash, which refers to cash flow which management considers available for distribution to unitholders; and payout ratio, which refers to distributions as a percentage of cash flow from operations. These measures should not be used as an alternative to GAAP, because they may not be consistent with calculations of other companies or Trusts.

When used in this news release, the words "expect", "anticipate", "estimate" and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the date that the statements are made, and the Trust undertakes no obligation to update forward-looking statements if conditions or opinions should change.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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