Vault Energy Trust

Vault Energy Trust

August 18, 2005 13:15 ET

Vault Energy Announces Distribution Reinvestment Plan

CALGARY, ALBERTA--(CCNMatthews - Aug. 18, 2005) - Vault Energy Trust (Vault) (TSX:VNG.UN) today announces their Distribution Reinvestment Plan (the "DRIP") that will provide eligible Vault unitholders an opportunity to maximize their investment in Vault Energy Trust by reinvesting their distributions into trust units.

Eligible unitholders participating in the DRIP have the opportunity to accumulate additional Trust Units at 95% of the prevailing Average Market Price and without incurring commissions, service charges, or brokerage fees. The Average Market Price is the weighted average trading price of Trust Units on the TSX for the period commencing on the second business day after the distribution record date and ending on the second business day immediately prior to the distribution payment date. On the monthly distribution payment dates, DRIP participants will receive additional Trust Units, rather than cash payments.

Unitholders who are enrolled in the DRIP can also participate in the Optional Trust Unit Purchase Plan ("OTUPP") and make additional cash purchases of Trust Units at 100% of the Average Market Price without incurring commissions, service charges, or brokerage fees. Optional cash payments will be used to purchase additional Trust Units from treasury on the monthly distribution payment dates, to a maximum of $50,000 per year and a minimum of $2,000 per remittance.

Trust Units purchased with reinvested distributions or optional cash payments that are held under the Plan will automatically be reinvested in additional Trust Units on the distribution payment date. At this time, only unitholders who are residents of Canada are eligible to participate in the DRIP. Canadian unitholders may join the plan at any time by completing an enrolment form, or by having their nominee complete an enrolment form, and submitting it to Valiant Trust Company at 310, 606 4th Street SW, Calgary, Alberta, T2P 1T1, Attn: Income Trust Department, Fax: (403) 233-2857. If you require more information about the DRIP, please contact our trustee, Valiant Trust Company at (403) 233-2801. Alternatively, you may contact Nicole Collard, Investor Relations, at (403) 444-9657.

Vault Energy Trust is a conventional oil and gas income trust that was formed through the corporate reorganization of Chamaelo Energy Inc., completed on June 22, 2005. Vault Trust Units are traded on the Toronto Stock Exchange (TSX) under the symbol "VNG.UN".

Contact Information

  • Vault Energy Trust
    Robert Jepson
    President and Chief Executive Officer
    (403) 444-9662
    Vault Energy Trust
    Greg Fisher
    VP, Finance and Chief Financial Officer
    (403) 444-9651
    Vault Energy Trust
    Nicole Collard
    Investor Relations
    (403) 444-9657