TSX SYMBOL: PEY.UN
CALGARY, May 13 /CNW/ - Peyto Energy Trust ("Peyto") is pleased to announce that the board of directors has approved a distribution increase of $0.01 per unit for a total of $0.15 per unit per month. This increased level of distribution will be paid on June 13, 2008, for unitholders of record on May 31, 2008. The ex-distribution date is May 28, 2008.
Peyto believes that the foundation for sustainable distributions comes from long life, high quality reserves combined with a business of profitably finding and developing new reserves. From the time of the last distribution increase:
- The proven producing reserve life has increased from 11.5 years to
13 years
- The proven producing distribution life has increased 25% to 24 years
Since converting to a trust in July 2003, distributions have been increased six times, never decreased, and are now twice their original level.
Peyto currently has 105.9 million trust units outstanding and remains committed to building value through the exploration and development of high quality gas properties.
We encourage you to actively visit Peyto's website located at www.peyto.com.
Certain information set forth in this document, including management's assessment of Peyto's future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Peyto's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Peyto will derive therefrom. Peyto disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.
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