Impax Energy Services Income Trust

Impax Energy Services Income Trust

December 19, 2006 17:00 ET

Impax Energy Services Income Trust Announces Special Distribution

TORONTO, ONTARIO--(CCNMatthews - Dec. 19, 2006) - Impax Energy Services Income Trust (TSX:MPX.UN) ("Impax" or the "Trust") today announced that its board of trustees has approved a one-time special cash distribution of approximately $0.10 per trust unit to be paid on March 15, 2007 to unitholders of record at the close of business on December 31, 2006. This special distribution is in addition to the previously announced regular distribution payable to unitholders of record on December 29, 2006.

"This special distribution reflects the Trust's strong financial performance since our initial public offering on June 14, 2006. We are very pleased to be able to share our success with our unitholders." said Scott Delaney, President and Chief Executive Officer of the Trust.

Impax's Declaration of Trust requires that it distribute all taxable income earned up to December 31, 2006. Accordingly, the exact amount of this special distribution will be determined prior to the date of payment and will be based upon the aggregate taxable income of the Trust to December 31, 2006. The Trust may be required to withhold certain amounts otherwise distributable to non-resident unitholders.

Impax Energy Services Income Trust is an open-ended trust, providing oilfield services in western Canada. The Trust indirectly owns a 55.3% interest in Impax Energy Services Master Limited Partnership, which indirectly acquired and now operates through its subsidiaries the businesses of McClelland Oilfield Rentals Limited Partnership, EGOC Enviro Group Limited Partnership, Denray Rathole Drilling Limited Partnership and Dwayne Hommy Trucking Limited Partnership. These businesses provide services in the areas of oilfield rental, specialized equipment rental, access mat rental, waste management services, rat hole drilling and specialty fluid hauling.

This news release may contain forward-looking statements relating to expected future events and financial and operating results of the Trust that involve risks and uncertainties. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed from time to time in the Trust's May 30, 2006 prospectus filed with the Canadian securities regulatory authorities. Due to the potential impact of these factors, the Trust disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Contact Information

  • Impax Energy Services Income Trust
    Scott D. Delaney
    President and Chief Executive Officer
    (416) 304-6867
    Impax Energy Services Income Trust
    John R. Anderson
    Chief Financial Officer
    (416) 913-3684