Fairborne Energy Trust
TSX : FEL.UN

Fairborne Energy Trust

March 15, 2007 18:54 ET

Fairborne Energy Trust Announces Exchangeable Share Ratio Increase

CALGARY, ALBERTA--(CCNMatthews - March 15, 2007) - Fairborne (TSX:FEL.UN) today announced the increase to the Exchange Ratio of the exchangeable shares of Fairborne Energy Ltd. from 1.20495 to 1.22101. This increase will be effective on March 15, 2007.



The increase in the Exchange Ratio is calculated as follows:

Record Date of Distribution: February 28, 2007
Opening Exchange Ratio: 1.20495
Distribution per Unit: $0.13
Five day Weighted Average Trading Price of FEL.UN
(prior to the end of February): $9.76
Increase in Exchange Ratio (1): 0.01606
Effective Date of the Increase in Exchange Ratio: March 15, 2007
Exchange Ratio as of the Effective Date: 1.22101

(1) The increase in the Exchange Ratio is calculated by multiplying the
Fairborne Energy Trust Distribution per Unit by the Opening Exchange
Ratio and dividing by the Five-day Weighted Average Trading Price of
FEL.UN.


Exchangeable shares of Fairborne Energy Ltd. trade on the Toronto Stock Exchange under the symbol FXL. Holders of exchangeable shares can exchange all or a portion of their holdings into trust units of Fairborne at any time, by giving notice to their investment advisor or Computershare Trust Company of Canada at its principal transfer office at Suite 710, 530 - 8th Ave., SW, Calgary, Alberta T2P 3S8.

Certain information set forth in this document, contains forward-looking statements including management's assessment of future plans and operations of Fairborne and targeted payout ratio. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, cost of services, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, delays resulting from or the inability to obtain required regulatory approvals, inability to retain and delays in retaining drilling rigs and other services, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Additional information on these and other risks that could affect Fairborne's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com), or at Fairborne's website (www.fairbornetrust.com). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of Fairborne could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Fairborne will derive therefrom. Fairborne disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. BOE disclosure may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF to 1 BBL is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Fairborne Energy Trust is a growth oriented, energy trust operating exclusively in western Canada. Fairborne's units are publicly traded on the Toronto Stock Exchange under the trading symbol "FEL.UN".

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