CALGARY, ALBERTA--(Marketwire - April 1, 2009) - Bonavista Energy Trust (TSX:BNP.UN) is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Bonavista Petroleum Ltd. from 2.05101 to 2.07152. This increase will be effective on April 15, 2009.
The following are the details of the calculation of the Exchange Ratio:
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Five day
Weighted
Average
Trading Effective
Price of Date
Bonavista BNP.UN of the Exchange
Record Date Energy (Prior to Increase Increase Ratio as
of Bonavista Opening Trust the end in in of
Energy Trust Exchange Distribution of the Exchange Exchange Effective
Distribution Ratio per Unit Month) Ratio (1) Ratio Date
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March 31, April 15,
2009 2.05101 $ 0.16 $ 16.00 0.02051 2009 2.07152
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(1) The increase in the Exchange Ratio is calculated by multiplying the
Bonavista Energy Trust Distribution per Unit by the Exchange Ratio
immediately prior to the Record Date and dividing by the five day
weighted average trading price of BNP.UN.
A holder of Bonavista Petroleum Ltd. Exchangeable Shares can exchange all or a portion of their holdings into Bonavista Energy Trust Units, at any time, by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office in Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.
Please visit our website at www.bonavistaenergy.com for detailed corporate information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bonavista Energy Trust
Glenn A. Hamilton
Senior Vice President & CFO
(403) 213-4300
700, 311 - 6th Avenue SW
Calgary, AB T2P 3H2
Website: www.bonavistaenergy.com
