Petrofund Energy Trust

Petrofund Energy Trust

June 07, 2006 17:58 ET

Petrofund Energy Trust Confirms Cash Distribution for June 2006

CALGARY, ALBERTA--(CCNMatthews - June 7, 2006) - Petrofund (TSX:PTF.UN) (AMEX:PTF) confirmed today the June cash distribution of C$0.20 per unit. This distribution announcement is consistent with the guidance provided in the press release dated April 4th, 2006.

The applicable dates for the June distribution are listed below:

Distribution Record Date Ex-Distribution Payable Date
C$0.20 per unit June 16th, 2006 June 14th, 2006 June 30th, 2006
Note: These dates apply to Petrofund units traded on both the TSX
and AMEX.

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 $1.1130/ US$1.00, the June distribution would be US$0.1797 per unit (before deduction of the 15% withholding tax for US unitholders that are individuals). Non-registered unitholders will receive their distributions through their brokers.

Petrofund's 12-month aggregate trailing distributions (June 2006 inclusive) are C$2.19 per unit, which represents a cash-on-cash yield of 7.81% per year based on the closing price of $28.05 per unit on the Toronto Stock Exchange on June 6th, 2006.

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 contain forward-looking statements relating to future events or future performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of the Trust. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed in the Trust's 2005 annual report, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. The Trust undertakes no obligation to update or revise any forward looking financial statements, except as required by applicable securities laws.

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