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
Shiningbank Energy Income Fund
TSX : SHN.UN

Shiningbank Energy Income Fund

July 10, 2007 17:15 ET

PrimeWest Energy Trust and Shiningbank Energy Income Fund Announce Results of Vote and Final Court Approval Regarding Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - July 10, 2007) - PrimeWest Energy Trust ("PrimeWest") (TSX:PWI.UN) (TSX:PWX) (TSX:PWI.DB.A) (TSX:PWI.DB.B) (TSX:PWI.DB.C) (NYSE:PWI) and Shiningbank Energy Income Fund ("Shiningbank") (TSX:SHN.UN) jointly announce that at Special Securityholders' Meetings held earlier today, over 95% of the voting Securityholders of both trusts voted in favour of the arrangement to merge. Under the terms of the arrangement, each Shiningbank trust unit is to be exchanged for 0.62 of a PrimeWest trust unit. The Court of Queen's Bench of Alberta subsequently granted a final order approving the arrangement. The merger is expected to formally close tomorrow.

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. are listed 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".

For further information regarding the benefits of the merger and to learn more about PrimeWest, please visit our website at www.primewestenergy.com.

Contact Information

  • PrimeWest Energy Trust
    George Kesteven
    Manager, Investor Relations
    (403) 699-7367 or Toll-free: 1-877-968-7878
    Email: investor@primewestenergy.com
    or
    Shiningbank Energy Income Fund
    Debbie Carver
    Investor Relations Coordinator
    (403) 268-7477 or Toll-free: 1-866-268-7477
    Email: irinfo@shiningbank.com
    or
    PrimeWest Energy Trust
    Suite 5100, 150 - 6th Avenue S.W.
    Calgary, Alberta Canada T2P 3Y7
    (403) 234-6600
    (403) 266-2825 (FAX)
    Website: www.primewestenergy.com
    or
    Shiningbank Energy Income Fund
    Suite 1400, 111 - 5th Avenue S.W.
    Calgary, Alberta Canada T2P 3Y6
    (403) 268-7477
    (403) 268-7499 (FAX)