TSX SYMBOL: PEY.UN
CALGARY, Aug. 18 /CNW/ - The board of directors of Peyto Exploration &
Development Corp. (the "Board") has decided to suspend the operation of the
distribution reinvestment plan ("DRIP") and optional trust unit purchase plan
("OTUPP") effective the September 30, 2006 distribution record date. Payments
associated with future distribution record dates, including September 30,
2006, will be paid in cash to all unitholders. Accordingly, the August 31,
2006 distribution record date will be the last opportunity for unitholders to
participate in the DRIP and OTUPP. The deadline for participation for August
is 3:00 p.m. (Calgary time) on August 30, 2006. Pursuant to the DRIP and
OTUPP, the Board has the discretion to resurrect the operation of these plans
in the future if it is deemed appropriate.
Peyto is a natural gas weighted energy trust. Peyto is committed to
maintaining its emphasis on building value through the exploration and
development of high quality gas properties.
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.
%SEDAR: 00019597E
