Trilogy Energy Trust
TSX : TET.UN

Trilogy Energy Trust

March 20, 2009 17:10 ET

Trilogy Energy Trust Implements a Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - March 20, 2009) - Trilogy Energy Trust ("Trilogy" or the "Trust") (TSX:TET.UN) announces today that it has made the necessary filings, and received the necessary approvals, to make a normal course issuer bid through the facilities of the Toronto Stock Exchange ("TSX"). Trilogy may purchase up to 4,912,483 of its trust units ("Trust Units"), representing approximately 5% of the 98,249,662 Trust Units outstanding as at March 16, 2009, for cancellation under the bid. Pursuant to section 628 of the TSX Company Manual, Trilogy is permitted under the bid to acquire up to 25 percent of the average daily trading volume, being 43,475 Trust Units, per day. Purchases under the bid may be made during the period beginning on March 24, 2009 and ending on March 23, 2010, or on such earlier date as Trilogy may complete its purchases under the bid. The price Trilogy will pay for any Trust Units purchased under the bid will be the market price at the time of purchase.

During the preceding twelve month period from March 11, 2008 until March 10, 2009, Trilogy purchased and cancelled 4,771,579 Trust Units at an average price of $7.33 per Trust Unit under its normal course issuer bid then in place.

Trilogy believes that, from time to time, the repurchase of its Trust Units for cancellation could represent an appropriate use of its funds to enhance the underlying value of its remaining Trust Units.

About Trilogy

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

Contact Information

  • Trilogy Energy Trust
    James H.T. Riddell
    President and Chief Executive Officer
    (403) 290-2900
    or
    Trilogy Energy Trust
    Michael G. Kohut
    Chief Financial Officer
    (403) 290-2900
    or
    Trilogy Energy Trust
    John B. Williams
    Chief Operating Officer
    (403) 290-2900
    or
    Trilogy Energy Trust
    1400, 332 - 6th Avenue S.W.
    Calgary, Alberta T2P 0B2
    (403) 290-2900
    (403) 263-8915 (FAX)
    Website: www.trilogyenergy.com