CALGARY, ALBERTA--(Marketwire - Aug. 16, 2010) - Bonavista Energy Trust (TSX:BNP.UN) ("Bonavista") confirms that its monthly cash distribution generated from August production will be $0.16 per trust unit and payable on September 15, 2010. We will continue to carefully monitor the impact of all issues affecting our business and, adjust our monthly distributions and our capital programs as conditions evolve. For 2010, our objective is to set a distribution policy at prudent levels of up to 50% of funds from operations while withholding sufficient funds to finance capital expenditures required to modestly grow our current production base. This in turn, should provide a stronger base of cash flow for future sustainable distributions. Our distribution policy is reviewed monthly and is based on a number of factors including current and future commodity prices, foreign exchange rates, our commodity hedging program, our current operations and future investment opportunities.
Bonavista has declared this distribution to be paid on September 15, 2010 for unitholders of record on August 31, 2010 with an ex-distribution date of August 27, 2010.
Forward Looking Statements
Corporate information provided herein contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, particularly those pertaining to cash distributions, production volumes, commodity prices, operating costs and drilling results, which are considered reasonable by Bonavista at the time of preparation, may be proven to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. There is no representation by Bonavista that actual results achieved during the forecast period will be the same in whole or in part as those forecasts.
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