Bonnett's Energy Corp. announces new credit facilities

CALGARY, Sept. 30, 2011 /CNW/ - Bonnett's Energy Corp. (TSX: BT) ("the Corporation") is pleased to announce that it has entered into a new credit agreement with RBC Royal Bank.

The agreement provides for credit facilities totaling $40 million, comprised of a $15.0 million revolving operating facility, a $15.0 million revolving facility and a $10.0 million non-revolving term facility. Borrowing costs are at the bank's prime rate plus 1% on the operating facility and prime rate plus 1.5% on the revolving facility and non-revolving term facility.

The new credit facilities replace the existing credit facilities.

Murray Toews, President and Chief Executive Officer of Bonnett's Energy Corp. said "The new credit agreement provides additional financial flexibility while reducing our cost of borrowing. We are very pleased to partner with RBC Royal Bank and we are looking forward to growing our business together."

Bonnett's Energy Corp. is a provider of wireline, frac flow-back and testing, fishing, and swabbing services in the Western Canadian Sedimentary Basin.

SOURCE Bonnett's Energy Services Trust

For further information:

Additional information can be obtained by contacting the Corporation at Bonnett's Energy Corp., R.R. 2, Site 33, Box 1, Grande Prairie, Alberta, T8V 2Z9. Information is also available on the Corporation's website at www.bonnettsenergy.com; Murray Toews, Chief Executive Officer at (780) 513-3400 or David Ross, Chief Financial Officer at (403) 264-3010, Fax: (403) 693-0093, E-mail:  info@bonnettsenergy.com

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Bonnett's Energy Services Trust

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