Builders Energy Services Trust

Builders Energy Services Trust

September 12, 2007 13:48 ET

Builders Energy Services Trust Announces September 2007 Distribution and Adoption of a Distribution Reinvestment Plan

CALGARY, ALBERTA--(Marketwire - Sept. 12, 2007) -


Builders Energy Services Trust ("Builders" or the "Trust") (TSX:BET.UN) announced today the cash distribution for the period September 1, 2007 to September 30, 2007 has been set at $0.12 per trust unit.

The cash distribution will be paid on October 15, 2007 to unitholders of record on September 28, 2007.

Builders announced today that it has adopted a Distribution Reinvestment Plan (the "Plan"). Eligible unitholders may elect to participate in the Plan commencing with the monthly cash distribution payable on October 15, 2007 to unitholders of record on September 28, 2007.

The Plan allows eligible unitholders of the Trust to direct their cash distributions to be reinvested in additional Builders trust units at 95% of the Average Market Price (as defined in the Plan) on the applicable distribution payment date. The Officers and the Board intend to participate in the Plan.

The Trust reserves the right to limit the amount of new equity available under the Plan on any particular distribution date. Accordingly, participation may be prorated in certain circumstances.

Eligible registered unitholders who wish to enroll in the Plan must deliver a properly completed and signed authorization form to Computershare Trust Company of Canada, at the address specified in the form, for receipt by 3:00 pm (Calgary time) five business days immediately preceding a distribution record date in order to take effect on the distribution payment date to which such record date relates. The deadline for receipt of an authorization form by Computershare Trust Company of Canada for purposes of the cash distribution payable on October 15, 2007 is 3:00 pm (Calgary time) on September 21, 2007.

Beneficial unitholders (i.e., owners of trust units that are held through a nominee such as a broker or custodian) who wish to participate in the Plan should contact the broker, investment dealer, financial institution or other nominee who holds their trust units to enquire about the applicable enrolment deadline and to request enrolment in the Plan.

Generally, no commissions, service charges or brokerage fees will be payable by Plan participants in connection with their purchase of trust units under the Plan, but beneficial unitholders should make enquiries with the broker, investment dealer or financial institution through which their trust units are held as to any policies of such party that might result in any commissions, charges or fees being payable.

Please note that registered and beneficial owners of Builders trust units who are not resident in Canada are not eligible to participate in the Plan.

Participation in the Plan does not relieve unitholders of any liability for taxes that may be payable on distributions. Unitholders should consult their tax advisors concerning the tax implications of their participation in the Plan having regard to their particular circumstances.

Copies of the Plan, a related series of questions and answers and the applicable form is available on Builders' website at under the heading "Investors", or directly from the Trust by calling (403) 296-0344. An authorization form is also available on Computershare's website at

Unitholders should carefully read the complete text of the Plan before making any decisions regarding their participation in the Plan. The Plan and the listing of the Units to be issued pursuant to the Plan have been conditionally approved by the TSX but is subject to final approval by the TSX.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. Builders trust units have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to any U.S. person absent registration or an applicable exemption from the registration requirements of such laws.

Based in Calgary, Builders Energy Services Trust is an open-end, unincorporated investment trust providing oilfield services in western Canada through skilled staff and specialized equipment. Builders provides services to the oil and gas industry related to the ongoing servicing of producing wells and new drilling activity.

This press release may contain forward-looking statements including expectations of future cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to: risks associated with the oilfield services sector (e.g. demand, pricing and terms for oilfield services; current and expected oil and gas prices; exploration and development costs and delays; reserves discovery rates; pipeline and transportation capacity; weather, health, safety and environmental risks), integration of acquisitions, competition, and uncertainties resulting from potential delays or changes in plans with respect to acquisitions, development projects or equipment expenditures. Additional information on these and other factors that could affect the Trust's operations or financial results are included in the Trust's documentation and filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release. The Trust does not assume any obligation to update these forward-looking statements, except as required by law.

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

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