Provident Energy Trust

Provident Energy Trust

January 17, 2006 14:35 ET

Provident Energy Announces Senior Executive Appointment

CALGARY, ALBERTA--(CCNMatthews - Jan. 17, 2006) - Provident Energy Trust (TSX:PVE.UN) (NYSE:PVX) is pleased to announce the appointment of David I. Holm to the newly-created position of Executive Vice President, Finance and Strategy, effective February 1, 2006. Mr. Holm will be responsible for overseeing corporate functions at Provident, including finance, strategy, planning, business development, risk management, and communications.

"David brings tremendous strategic and financial leadership skills to Provident," said Provident Chief Executive Officer Tom Buchanan. "With his 20 years of experience in investment banking and securities law and his involvement in countless oil and gas business transactions and financings, he will add great strength to our executive team."

Mr. Holm spent the last six years in investment banking, most recently as a Managing Director, North American Energy, with TD Securities. He has advised on numerous major transactions in the oil and gas industry, including both upstream and midstream activity. Prior to his move into investment banking, Mr. Holm practiced transactional and securities law for 15 years, including serving as a partner with Macleod Dixon. He has served as corporate secretary for two public corporations and as a director for two large private energy companies. He was seconded to the Alberta Securities Commission and has also served as Chairman of the Securities Section of the Canadian Bar Association.

Provident Energy Trust is a Calgary-based, open-ended energy income trust that owns and manages an oil and gas production business and a natural gas liquids midstream services and marketing business. Provident's energy portfolio is located in some of the most stable and predictable producing regions in Western Canada, Southern California and Wyoming. Provident provides monthly cash distributions to its unitholders and trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbols PVE.UN and PVX, respectively.

Contact Information

  • Provident Energy Trust
    Laurie Stretch
    Senior Manager, Investor Relations and Communications
    (403) 231-6710
    Corporate Head Office:
    800, 112 - 4th Avenue S.W.
    Calgary, Alberta T2P 0H3
    (403) 296-2233 or Toll Free: 1-800-587-6299
    (403) 294-0111 (FAX)