Viking Energy Royalty Trust

Viking Energy Royalty Trust

March 17, 2005 19:18 ET

Viking Energy Royalty Trust Canadian Income Tax Information For 2004


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VIKING ENERGY ROYALTY TRUST

TSX SYMBOL: VKR.UN
TSX SYMBOL: VKR.DB

MARCH 17, 2005 - 19:18 ET

Viking Energy Royalty Trust Canadian Income Tax
Information For 2004

CALGARY, ALBERTA--(CCNMatthews - March 17, 2005) - Viking Energy Royalty
Trust (TSX:VKR.UN) (TSX:VKR.DB) ("Viking") announces that for Canadian
tax purposes, distributions declared to Unitholders in the 2004 taxation
year were 79% taxable and 21% return of capital (tax deferred).

The total amount of distributions per Unit for this period was $0.96. Of
this amount, $0.7584 per Unit is a return on capital (taxable) and
$0.2016 per Unit is a return of capital (tax deferred reduction of
Adjusted Cost Base). Correspondingly, for any Viking Energy Royalty
Trust Units that were held for only a portion of 2004, all distributions
declared for the period January 1, 2004 through December 31, 2004 are to
be treated as 79% taxable and 21% return of capital.

The accompanying table sets out the taxation treatment of the monthly
distributions for 2004:



---------------------------------------------------------------------
Total Taxable ACB
Record Date Distribution Date Per Unit Amount Reduction
---------------------------------------------------------------------
January 30, 2004 February 16, 2004 $ 0.08 $ 0.0632 $ 0.0168
February 27, 2004 March 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
March 31, 2004 April 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
April 30, 2004 May 17, 2004 $ 0.08 $ 0.0632 $ 0.0168
May 31, 2004 June 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
June 30, 2004 July 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
July 22, 2004 August 16, 2004 $ 0.08 $ 0.0632 $ 0.0168
August 23, 2004 September 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
September 22, 2004 October 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
October 22, 2004 November 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
November 22, 2004 December 15, 2004 $ 0.08 $ 0.0632 $ 0.0168
December 31, 2004 January 17, 2005 $ 0.08 $ 0.0632 $ 0.0168
---------------------------------------------------------------------
Total $ 0.96 $ 0.7584 $ 0.2016
---------------------------------------------------------------------


Viking Energy Royalty Trust is an open-end investment Trust that
generates income from long-life oil and natural gas producing properties
in Alberta and Saskatchewan. The beneficiaries of Viking are the holders
of the Trust Units who receive monthly distributions of the cash flow
from the income. The Trust currently has 167,554,069 Units outstanding
which trade on the Toronto Stock Exchange ("TSX") under the symbol
"VKR.UN". Also listed on the TSX are the Trust's $74.3 million principal
amounts of 10.5% convertible unsecured subordinated debentures which
trade under the symbol "VKR.DB".

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Viking Energy Royalty Trust
    Robert Fotheringham
    VP Finance and CFO
    (403) 268-3175 or Toll Free: (877) 292-2527
    or
    Viking Energy Royalty Trust
    Diane Phillips
    Investor Relations
    (403) 268-3175 or Toll Free: (877) 292-2527
    or
    Viking Energy Royalty Trust
    Suite 400, 330-5th Avenue S.W.
    Calgary, Alberta, T2P 0L4
    (403) 268-3175 or Toll Free: (877) 292-2527
    Email: vikingin@viking-roy.com
    Website: www.vikingenergy.com