Trilogy Energy Trust
TSX : TET.UN

Trilogy Energy Trust

June 22, 2005 09:00 ET

Trilogy Energy Trust Announces June 2005 Distribution and Appointment of Directors and Auditor

CALGARY, ALBERTA--(CCNMatthews - June 22, 2005) -

JUNE 2005 DISTRIBUTION

Trilogy Energy Trust (TSX:TET.UN) ("TET" or the "Trust") today announced that its cash distribution for June 2005 will be $0.16 per Trust Unit. The distribution is payable on July 15, 2005 to unitholders of record on June 30, 2005. The ex-distribution date is June 28, 2005. The Trust expects that monthly distributions of $0.16 per Trust Unit will be sustainable for the foreseeable future assuming the current forward market for petroleum and natural gas prices and based on current production forecasts.

APPOINTMENT OF DIRECTORS

It was previously publicly disclosed that one or two additional directors would be appointed to the Board of Directors of Trilogy Energy Ltd. ("TEL"), the Administrator of the Trust. TET is pleased to announce that two additional directors have now been appointed to the Board of Directors of TEL: Mr. J.G. (Jack) Williams and Mr. M. H. (Mick) Dilger.

J. G. (Jack) Williams

Mr. Williams is President and CEO of Adeco Exploration Company Ltd., an oil and gas producer formed in 1993. From 1969 to 1979 he was Vice-President of Adeco Drilling and Engineering Co. Ltd. and from 1979 to 1993 he was President and CEO of that Company. Mr. Williams graduated from the Montana School of Mines in Geological Engineering in 1962. He has previously served on the board of directors of both oil and gas producers and service companies.

M. H. (Mick) Dilger

Mr. Dilger is the Vice President, Business Development of Pembina Management Inc., the Administrator of Pembina Pipeline Income Fund, a publicly traded Canadian income fund engaged in the ownership and operation of energy infrastructure within Western Canada. Mr. Dilger has held positions with Amerada Hess as well as a broad range of executive positions within NOVA Corporation, TransCanada Pipelines and most recently prior to Pembina, VISTA Midstream Solutions, a midstream company he founded in 1999.

APPOINTMENT OF AUDITOR

TET is also pleased to announce the appointment of PricewaterhouseCoopers LLP as the auditor of TET.

About TET

Trilogy Energy Trust is a petroleum and natural gas-focused Canadian energy trust. TET's Trust Units are listed on the Toronto Stock Exchange under the symbol "TET.UN".

Forward-looking Information

This news release contains forward-looking information. Implicit in this information are assumptions regarding petroleum and natural gas prices, production, royalties and expenses which, although considered reasonable by TET at the time of preparation, may prove to be incorrect. These forward-looking statements are based on assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in TET's plans, changes in commodity prices, general economic, market, regulatory and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee by TET that actual results achieved will be the same as those forecast herein.

Contact Information

  • Trilogy Energy Trust
    J.H.T. (Jim) Riddell
    President and Chief Executive Officer
    (403) 290-2900
    (403) 263-8915 (FAX)
    or
    Trilogy Energy Trust
    B.K. (Bernie) Lee
    Chief Financial Officer
    (403) 290-2900
    (403) 263-8915 (FAX)
    or
    Trilogy Energy Trust
    J. B. (John) Williams
    Chief Operating Officer
    (403) 290-2900
    (403) 263-8915 (FAX)
    or
    Trilogy Energy Trust
    4100 - 350 - 7th Avenue S. W.
    Calgary, Alberta T2P 3N9