Shiningbank Energy Income Fund
TSX : SHN.UN

Shiningbank Energy Income Fund

April 18, 2007 09:01 ET

Shiningbank Energy Announces May 2007 Monthly Distribution and Increase in Revolving Credit Facility

CALGARY, ALBERTA--(CCNMatthews - April 18, 2007) - Shiningbank Energy Income Fund (TSX:SHN.UN) (the "Fund") today announced that its cash distribution for May 2007 will be C$0.15 per unit. The distribution is payable on May 15, 2007 to unitholders of record on April 30, 2007. The ex-distribution date is April 26, 2007. This represents an approximate 13% annualized pre-tax cash-on-cash yield based on the April 17, 2007 closing price of C$13.65 per unit.

Shiningbank is also pleased to announce the renewal and increase of its revolving credit facility to $500 million, effective immediately. The increased facility continues to provide Shiningbank with sufficient debt capacity to fund its working capital requirements, make smaller strategic acquisitions and the flexibility to fund a portion of its capital program within the context of its lower payout ratio policy.

Shiningbank Energy Income Fund is a natural gas focused energy trust founded in 1996. The Fund purchases, develops and operates producing properties for the direct benefit of its unitholders. Shiningbank has one of the highest weightings of natural gas production in the energy trust sector at 76%.

Shiningbank is listed on the Toronto Stock Exchange under the symbol SHN.UN.

Contact Information

  • Shiningbank Energy Income Fund
    David M. Fitzpatrick
    President and C.E.O.
    (403) 268-7477 or Toll Free 1-866-268-7477
    or
    Shiningbank Energy Income Fund
    Bruce K. Gibson
    C.F.O.
    (403) 268-7477 or Toll Free 1-866-268-7477
    or
    Shiningbank Energy Income Fund
    Debbie Carver
    Investor Relations Coordinator
    (403) 268-7477 or Toll Free 1-866-268-7477
    (403) 268-7499 (FAX)
    Email: irinfo@shiningbank.com
    Website: www.shiningbank.com