PrimeWest Energy Trust
TSX : PWI.UN
TSX : PWX
TSX : PWI.DB.A
TSX : PWI.DB.B
NYSE : PWI
TSX : PWI.DB.C

PrimeWest Energy Trust

November 22, 2007 16:01 ET

PrimeWest Energy Trust Announces Brief Postponement of Final Court Approval of Arrangement With TAQA

CALGARY, ALBERTA--(Marketwire - Nov. 22, 2007) - PrimeWest Energy Trust ("PrimeWest") (TSX:PWI.UN) (TSX:PWX) (TSX:PWI.DB.A) (TSX:PWI.DB.B) (TSX:PWI.DB.C) (NYSE:PWI) announces that an application was commenced before the Court of Queen's Bench of Alberta today for a final order approving the Arrangement pursuant to which 1350849 Alberta Ltd., a wholly-owned subsidiary of Abu Dhabi National Energy Company PJSC, would acquire all of the issued and outstanding securities of PrimeWest for a cash consideration equivalent to C$26.75 per Trust Unit. As previously announced, at a Special Meeting held yesterday, Securityholders of PrimeWest voted over 95% in favour of the Arrangement.

The hearing of the application will be completed on Friday, November 23, 2007. Completion of the Arrangement remains subject to closing conditions typical for a transaction of this nature.

PrimeWest is a Calgary-based conventional oil and gas royalty trust that actively acquires, develops, produces and sells natural gas, crude oil and natural gas liquids for the generation of monthly cash distributions to Unitholders. Trust Units of PrimeWest trade on the Toronto Stock Exchange (TSX) under the symbol "PWI.UN" and on the New York Stock Exchange under the symbol "PWI". Exchangeable Shares of PrimeWest Energy Inc. trade on the TSX under the symbol "PWX". Series I Convertible Debentures of PrimeWest trade on the TSX under the symbol "PWI.DB.A", Series II Convertible Debentures trade under the symbol "PWI.DB.B" and Series III Convertible Debentures trade under the symbol "PWI.DB.C".

Contact Information

  • PrimeWest Energy Trust
    George Kesteven
    Manager, Investor Relations
    (403) 699-7367 or Toll-free: 1-877-968-7878
    or
    PrimeWest Energy Trust
    Debbie Carver
    Investor Relations Advisor
    (403) 699-7464 or Toll Free: 1-877-968-7878
    Email: investor@primewestenergy.com
    Website: www.primewestenergy.com