Petrofund Energy Trust

Petrofund Energy Trust

July 06, 2005 16:05 ET

Petrofund Energy Trust Announces Cash Distributions for Third Quarter 2005

CALGARY, ALBERTA--(CCNMatthews - July 6, 2005) - Petrofund Energy Trust (TSX:PTF.UN) (AMEX:PTF) announced today a July, 2005 cash distribution of C$0.16 per unit. Based on current commodity prices and market conditions, Petrofund expects to maintain the $0.16 distribution for both the August and September distribution months.

Petrofund distributes the majority of its cash flow to unitholders on a monthly basis, retaining a significant portion to fund drilling and development projects designed to improve the sustainability of future distributions. Petrofund paid out 73% of its cash flow in 2004 and 67% in the first quarter of 2004.

The applicable payable dates for each of the distribution periods are
listed below:

Distribution Record Date Date(2) Payable Date
C$0.16 per
unit July 15, 2005 July 13, 2005 July 29, 2005
C$0.16 per
unit(3) August 17, 2005 August 15, 2005 August 31, 2005
C$0.16 per September September September
unit(3) 16, 2005 14, 2005 30, 2005

1. The dates apply to Petrofund units traded on both the TSX and
2. Anticipated ex-distribution dates for August and September. These
dates are subject to change and/or confirmation by the exchanges
and will be confirmed in the August and September distribution
press releases.
3. These distributions reflect Petrofund's current expectation with
regard to near term performance and are subject to change based
on actual market conditions.

Registered unitholders will receive their distributions directly from our transfer agent. Those with US addresses are paid in US currency using the exchange rate in effect on the record date. Based on an exchange rate of C$1.2438/US$1.00, the July distribution would be US$0.1286 per unit (before deduction of withholding taxes). Non-registered unitholders will receive their distributions through their brokers.

Petrofund's 12-month aggregate trailing distributions (July 2005 inclusive) are C$1.92 per unit, which represents a cash-on-cash yield of 9.43% per year based on the closing price of C$20.36 per unit on the Toronto Stock Exchange on July 5, 2005.

Petrofund Energy Trust is a Calgary based royalty trust that acquires and manages producing oil and gas properties in Western Canada. The Trust pays its Unitholders monthly cash distributions that are derived from the Trust's cash flow from these properties. Petrofund Energy Trust was founded in 1988 and was one of the first oil and gas royalty trusts in Canada.

This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. Petrofund Energy Trust cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Petrofund Energy Trust currently foresees. Discussion of the various factors that may affect future results is contained in Petrofund Energy Trust's recent filings with the Securities and Exchange Commission and Canadian securities regulatory authorities.


Jeffery E. Errico

President and Chief Executive Officer

Contact Information

  • Petrofund Energy Trust
    Investor Relations
    (403) 218-4736 or Toll Free: 1-866-318-1767
    (403) 539-4300 (FAX)
    Petrofund Energy Trust
    Chris Dutcher
    Director, Business Development
    (403) 218-8625