Paramount Energy Trust

Paramount Energy Trust

March 24, 2005 17:11 ET

Paramount Energy Trust Clarifies United States Status of Equity Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PARAMOUNT ENERGY TRUST

TSX SYMBOL: PMT.UN

MARCH 24, 2005 - 17:11 ET

Paramount Energy Trust Clarifies United States Status
of Equity Financing

CALGARY, ALBERTA--(CCNMatthews - March 24, 2005) - Paramount Energy
Trust (TSX:PMT.UN) ("PET") Today PET clarified its previous announcement
of its financing, on a bought deal basis, involving the issuance of
Trust Units (by way of subscription receipts) and debentures to fund, in
part, its proposed acquisition of natural gas properties in northeast
Alberta for CDN$290 million subject to closing adjustments.
Specifically, the subscription receipts and the debentures have not been
and will not be registered under the United States Securities Act and,
accordingly, will not be offered or sold in the United States except in
transactions exempt from the registration requirements of that Act.

About PET

PET is a natural gas-focused Canadian energy trust. PET's Trust Units
are listed on the Toronto Stock Exchange under the symbol "PMT.UN".
Further information with respect to PET can be found at its website at
www.paramountenergy.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Paramount Energy Trust
    Susan L. Riddell Rose
    President and Chief Operating Officer
    (403) 269-4400
    or
    Paramount Energy Trust
    Cameron R. Sebastian
    Vice President, Finance and Chief Financial Officer
    (403) 269-4400
    or
    Paramount Energy Trust
    Sue Showers
    Investor Relations & Communications Coordinator
    (403) 269-4400
    (403) 269-6336 (FAX)
    or
    Paramount Energy Operating Corp,
    administrator of Paramount Energy Trust
    Suite 500, 630 - 4 Avenue SW, Calgary, AB T2P 0J9
    Email: info@paramountenergy.com
    Website: www.paramountenergy.com
    The Toronto Stock Exchange has neither approved nor disapproved the
    information contained herein.