Sustainable Production Energy Trust

Sustainable Production Energy Trust

October 04, 2005 22:50 ET

Sustainable Production Energy Trust Announces Exchange Ratios

CALGARY, ALBERTA--(CCNMatthews - Oct. 4, 2005) - Sustainable Production Energy Trust (the "Fund") (TSX:SPU.UN) is pleased to announce the exchange ratios relating to the Exchange Option (the "Exchange Option") with respect to the initial public offering of trust units (the "Offering"). The Exchange Option allows prospective purchasers to acquire units of the Fund by an exchange of freely tradeable units or shares of the predetermined list of Canadian Oil and Gas Trusts and Corporations eligible to be included in the Fund's portfolio (the "Issuers"). The Exchange Option expired on October 4, 2005.

The number of units of Sustainable Production Energy Trust to be issued for each unit or share of an Issuer (the "Exchange Ratio") was determined by dividing the weighted average trading price of the units or shares of each Issuer for the three consecutive trading days ending October 4, 2005, by $10.00, adjusted as necessary to reflect distributions or dividends declared by an Issuer after such date but before closing that will not be received by the Fund.

The following table indicates the Exchange Ratio for each Issuer used to determine the number of units of the Fund to be issued for each unit of an Issuer deposited.

The Offering is scheduled to close on October 17, 2005. The Toronto Stock Exchange has conditionally approved the listing of the Fund's units under the symbol "SPU.un", subject to certain TSX listing requirements.

The offering is being made through a syndicate of agents co-led by CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc. and includes National Bank Financial Inc., Scotia Capital Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Blackmont Capital Inc., Raymond James Ltd., Research Capital Corporation, Wellington West Capital Inc., Bieber Securities Inc. and McFarlane Gordon Inc.

For further information concerning the Offering or the Exchange Option, investors should consult the Final Prospectus or their financial advisor. Sustainable Production Energy Trust is the newest addition to the Citadel Group of Funds and we can be contacted at (403) 261-9674 or by email at

Sustainable Production Energy Trust
Exchange Option Ratios

(Trust Unit per Issuer Unit)
Oil & Gas Trusts
Acclaim Energy Trust 2.0431
Advantage Energy Income Fund 2.0956
ARC Energy Trust 2.3905
Baytex Energy Trust 1.8330
Bonavista Energy Trust 3.7092
Bonterra Energy Income Trust 2.3351
Canadian Oil Sands Trust 13.0035
Crescent Point Energy Trust 2.1636
Daylight Energy Trust 1.2918
Enerplus Resources Fund 5.4793
Enterra Energy Trust 2.8524
Esprit Energy Trust 1.4378
Fairborne Energy Trust 1.8468
Focus Energy Trust 2.4177
Freehold Royalty Trust 1.8671
Harvest Energy Trust 3.8047
Ketch Resources Trust 1.2913
NAL Oil & Gas Trust 2.0616
NAV Energy Trust 1.5938
Paramount Energy Trust 2.3291
Pengrowth Energy Trust 2.9286
Penn West Energy Trust 3.6139
Petrofund Energy Trust 2.2680
Peyto Energy Trust 3.0399
PrimeWest Energy Trust 3.4260
Progress Energy Trust 1.7672
Provident Energy Trust 1.4279
Sequoia Oil & Gas Trust 2.0548
Shiningbank Energy Income Fund 2.6445
Starpoint Energy Trust 2.3740
Thunder Energy Trust 1.3537
TKE Energy Trust 1.1077
Trilogy Energy Trust 2.7679
Vault Energy Trust 1.3524
Vermilion Energy Trust 2.8862
Viking Energy Trust 0.9752
Zargon Energy Trust 0.9826

Oil & Gas Corporations
Atlas Energy Ltd. 0.4996
Bear Ridge Resources Ltd. 0.4835
Blackrock Ventures Inc. 1.0290
Bow Valley Energy Ltd. 0.5905
Bulldog Energy Inc. 0.3515
Canadian Superior Energy Inc. 0.2840
Caspian Energy Inc. 0.2611
Celtic Exploration Ltd. 1.2856
Centurion Energy International Inc. 1.3119
Cinch Energy Corp. 0.3619
Claude Resources Inc. 0.1038
Clear Energy Inc. 0.5605
Compton Petroleum Corporation 1.5804
Connacher Oil and Gas Ltd. 0.2523
Crew Energy Inc. 2.0017
Cyries Energy Inc. 1.7646
Defiant Resources Corporation 0.4676
Delphi Energy Corp. 0.5320
Duvernay Oil Corp. 4.2485
Endev Energy Inc. 0.2056
Fairquest Energy Ltd. 1.0657
Find Energy Ltd. 0.8217
First Calgary Petroleums Ltd. 0.9681
Gastar Exploration Ltd. 0.4065
Gentry Resources Ltd. 0.5520
Grey Wolf Exploration Inc. 0.6244
Innova Exploration Ltd. 0.8494
InterOil Corporation 2.6813
Iteration Energy Ltd. 0.5778
Ivanhoe Energy Inc. 0.2236
Kensington Resources Ltd. 0.4249
Kereco Energy Ltd. 1.6163
Kick Energy Corporation 0.8045
Luke Energy Ltd. 0.4315
Masters Energy Inc. 0.4743
Midnight Oil Exploration Ltd. 0.4425
Mission Oil & Gas Inc. 0.9469
Nelson Resources Limited 0.2592
Nexen Inc. 5.4608
Niko Resources Ltd. 5.2123
NuVista Energy Ltd. 1.9347
Pan-Ocean Energy Corporation Limited 2.9794
Peregrine Energy Ltd. 0.2572
Petrobank Energy and Resources Ltd. 0.9967
PetroFalcon Corporation 0.2266
Petrokazakhstan Inc. 6.3219
ProEx Energy Ltd. 1.7587
ProspEx Resources Ltd. 0.3844
Purcell Energy Ltd. 0.3392
Real Resources Inc. 2.7434
Rider Resources Ltd. 2.9794
Saxon Energy Services Inc. 0.5480
Storm Exploration Inc. 0.6019
Stylus Energy Inc. 0.3666
Tempest Energy Corp. 0.5724
Tesco Corporation 1.8084
TransGlobe Energy Corporation 0.7127
True Energy Inc. 0.5959
TUSK Energy Corporation 0.4829
West Energy Ltd. 0.8019

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