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Peyto Energy Trust announces cash distributions for June 13, 2008
TSX SYMBOL: PEY.UN CALGARY, May 13 /CNW/ - Peyto Energy Trust ("Peyto") is pleased to announce th...
About this update from Peyto Exploration & Development Corp.
[{"type":"text","content":"\n\n\n\nTSX SYMBOL: PEY.UN\n\n\nCALGARY, May 13 /CNW/ - Peyto Energy Trust ("Peyto") is pleased to\nannounce that the board of directors has approved a distribution increase of\n$0.01 per unit for a total of $0.15 per unit per month. This increased level\nof distribution will be paid on June 13, 2008, for unitholders of record on\nMay 31, 2008. The ex-distribution date is May 28, 2008.\n\n\nPeyto believes that the foundation for sustainable distributions comes\nfrom long life, high quality reserves combined with a business of profitably\nfinding and developing new reserves. From the time of the last distribution\nincrease:\n\n\n- The proven producing reserve life has increased from 11.5 years to\n 13 years\n\n- The proven producing distribution life has increased 25% to 24 years\n\n\nSince converting to a trust in July 2003, distributions have been\nincreased six times, never decreased, and are now twice their original level.\n\n\nPeyto currently has 105.9 million trust units outstanding and remains\ncommitted to building value through the exploration and development of high\nquality gas properties.\n\n\nWe encourage you to actively visit Peyto's website located at\nwww.peyto.com.\n\n\nCertain information set forth in this document, including management's\nassessment of Peyto's future plans and operations, contains forward-looking\nstatements. By their nature, forward-looking statements are subject to\nnumerous risks and uncertainties, some of which are beyond these parties'\ncontrol, including the impact of general economic conditions, industry\nconditions, volatility of commodity prices, currency fluctuations, imprecision\nof reserve estimates, environmental risks, competition from other industry\nparticipants, the lack of availability of qualified personnel or management,\nstock market volatility and ability to access sufficient capital from internal\nand external sources. Readers are cautioned that the assumptions used in the\npreparation of such information, although considered reasonable at the time of\npreparation, may prove to be imprecise and, as such, undue reliance should not\nbe placed on forward-looking statements. Peyto's actual results, performance\nor achievement could differ materially from those expressed in, or implied by,\nthese forward-looking statements and, accordingly, no assurance can be given\...