Peyto Energy Trust
TSX : PEY.UN

August 18, 2005 07:53 ET

Peyto Energy Trust-New Issue

CALGARY, ALBERTA--(CCNMatthews - Aug. 18, 2005) -

Not for distribution to U.S. news wire services or dissemination in the United States.

Peyto Energy Trust (the "Trust")(TSX:PEY.UN) has today entered into an agreement with a syndicate of underwriters led by BMO Nesbitt Burns Inc., under which the underwriters have agreed to buy 5,000,000 Trust Units from the Trust and sell to the public at a price of $30.55 per Trust Unit, representing an aggregate amount of $152,750,000. The net proceeds of the offering will be used by the Trust to reduce bank indebtedness, which may be redrawn and applied to fund general purposes and to fund the Trust's capital expenditure program. Closing is expected on or about September 8, 2005. The closing is subject to the receipt of all necessary regulatory and stock exchange approvals.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Peyto Energy Trust
    Don T. Gray
    President and Chief Executive Officer
    (403) 261-6077
    (403) 261-8976 (FAX)