Progress Energy Trust Confirms February Distribution

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[{"type":"text","content":"\n\n\n\nAnnounces management changes\n\n\nCALGARY, Feb. 15 /CNW/ - (TSX-PGX.UN) - Progress Energy Trust ("Progress"\nor the "Trust") today confirmed a distribution of $0.10 per Trust unit for the\nmonth of February. The distribution will be paid on March 17, 2008 to\nunitholders of record on February 29, 2008. The ex-distribution date is\nexpected to be February 27, 2008.\n\n\nManagement Changes\n\n\nProgress announces that Mr. Neil Samis, Vice President, Production will\nbe retiring effective March 31, 2008. Neil has been a key contributor to the\nsuccess of Progress Energy Trust and its predecessor Progress Energy since he\njoined the Company in 2002. The management, Board of Directors and employees\nof Progress wish him good health and happiness in his retirement. Neil will be\navailable to the Company on an advisory basis.\n\n\nMr. Daniel Topolinsky has been promoted to Senior Vice President,\nExploration and will continue to be responsible for all aspects of the\ncompany's exploration program. Mr. Gary Miller has been promoted to Vice\nPresident, Operations with responsibility for field operations, facilities and\nenvironment, health and safety. Gary has been with Progress since 2004. Mr.\nJim Stannard has been promoted to Vice President, Engineering and will be\nresponsible for exploitation and production engineering as well as drilling\nand completions. Jim has been with Progress since 2002.\n\n\nProgress is a Calgary based, natural gas focused trust targeting\nsustainable production and reserves per unit through the utilization of its\ntechnical capability and capital investment efficiencies. Primary operating\nareas include the Deep Basin of northwest Alberta and the Foothills and Plains\nregions of northeast British Columbia. Units of Progress trade on the Toronto\nStock Exchange (TSX) under the symbol PGX.UN. Exchangeable Shares of Progress\nEnergy Ltd. trade on the TSX under the symbol PGE and its convertible\ndebentures trade on the TSX under the symbols PGX.DB and PGX.DB.A.\n\n\nForward-Looking Statements - Certain information regarding Progress set\nforth in this document, including management's assessment of Progress' future\nplans and operations, contains forward-looking statements that involve\nsubstantial known and unknown risks and uncertainties. These forward-looking\nstatements are subje...

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