Harvest Energy Trust
TSX : HTE.UN
NYSE : HTE

Harvest Energy Trust

November 03, 2005 17:37 ET

Harvest Energy Trust Announces December 15th, 2005 Distribution and Adjustment to Exchangeable Share Ratio

CALGARY, ALBERTA--(CCNMatthews - Nov. 3, 2005) - Harvest Energy Trust (TSX:HTE.UN) (NYSE:HTE) ("Harvest") today announces that a cash distribution of C$0.35 per trust unit will be paid on December 15th, 2005 to unitholders of record on November 22nd, 2005. Harvest trust units are expected to commence trading on an ex-distribution basis on November 18th, 2005. This distribution amount represents Distributable Cash earned in the month of November 2005.

Harvest also announces an increase to the Exchange Ratio of the Exchangeable Shares of Harvest Operations Corp. from 1.15394 to 1.16473. This increase will be effective on November 15th, 2005.

As part of the Plan of Arrangement with Storm Energy Ltd. which closed on June 30, 2004, Harvest Operations Corp. issued Exchangeable Shares which are exchangeable into trust units at a ratio that adjusts upward each month in lieu of distributions. The Exchangeable Shares are not publicly traded. Holders of Harvest Exchangeable Shares can exchange all or a portion of their holdings at any time by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office at 310, 606 - 4th Street SW, Calgary, AB, T2P 1T1 (telephone: 403-233-2801).

Harvest Energy Trust is a Calgary based energy trust actively managed to maintain or increase cash flow per trust unit through its strategy of acquiring, enhancing and producing crude oil, natural gas and natural gas liquids. Harvest trust units are traded on the Toronto Stock Exchange (TSX) under the symbol "HTE.UN" and on the New York Stock Exchange (NYSE) under the symbol "HTE". Please visit Harvest's website at www.harvestenergy.ca for additional corporate information and a recent corporate presentation.

Contact Information

  • Harvest Energy Trust
    Jacob Roorda
    President
    (403) 265-1178 or Toll Free: (866) 666-1178
    or
    Harvest Energy Trust
    David Rain
    Vice President & CFO
    (403) 265-1178 or Toll Free: (866) 666-1178
    or
    Harvest Energy Trust
    Cindy Gray
    Investor Relations & Communications Advisor
    (403) 265-1178 or Toll Free: (866) 666-1178
    or
    Harvest Energy Trust
    2100, 330 - 5th Avenue S.W.
    Calgary, AB Canada T2P 0L4
    (403) 265-1178 or Toll Free: (866) 666-1178
    (403) 265-3490 (FAX)
    Email: information@harvestenergy.ca
    Website: www.harvestenergy.ca