CALGARY, Sept. 15, 2014 /CNW/ - Parallel Energy Trust confirms that its
cash distribution to be paid on October 23, 2014, in respect of the
period from and including September 1, 2014 to September 30, 2014, to
unitholders of record on September 30, 2014 will be $0.05 per trust
unit. The ex-distribution date is September 26, 2014.
ABOUT PARALLEL ENERGY TRUST
Established in March 2011, Parallel Energy Trust ("Parallel" or the
"Trust") is a Calgary-based distribution-paying energy income trust.
Parallel's assets and operations are located in the Mid-Continent
Region of the United States and its portfolio consists of mature,
liquids-rich natural gas assets. The Trust's business strategy is
focused on acquiring and developing long-life, conventional oil and
natural gas assets.
Parallel is considered to be a "mutual fund trust" under the Income Tax
Act of Canada; however, the Trust is not subject to specified
investment flow through ("SIFT") trust taxes as all of its properties
are held outside of Canada. Parallel's common units are traded on the
Toronto Stock Exchange ("TSX") under the symbol "PLT.UN" and the
Trust's debentures are traded on the TSX under the symbol "PLT.DB".
Additional information about Parallel can be found on the Trust's
website at www.parallelenergy.ca or in Parallel's annual information form, available on SEDAR at www.sedar.com.
This news release contains forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which
are beyond the control of Parallel, including, without limitation,
those listed under "Risk Factors" in Parallel's annual information form
dated March 21, 2014 (collectively, "forward-looking information").
Forward-looking information in this news release includes, but is not
limited to, Parallel's objectives and status as a mutual fund trust and
not a SIFT trust and Parallel's expectations and estimates regarding
current and future production rates and drilling results. Parallel
cautions investors in Parallel's securities about important factors
that could cause Parallel's actual results to differ materially from
those projected in any forward-looking statements included in this news
release. Any statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future events
or performance are not historical facts and may be forward-looking and
may involve estimates, assumptions and uncertainties which could cause
actual results or outcomes to differ materially from those expressed in
such forward-looking statements. No assurance can be given that the
expectations set out in Parallel's final prospectus or herein will
prove to be correct and accordingly, prospective investors should not
place undue reliance on these forward-looking statements. These
statements speak only as of the date of this press release and Parallel
does not assume any obligation to update or revise them to reflect new
events or circumstances.
In this news release, Parallel and its subsidiaries are referred to
collectively as the "Trust" or "Parallel" for purposes of convenience.
SOURCE: Parallel Energy Trust
For further information:
Curtis Pelletier, Manager, Investor Relations
403-781-7888 or Toll-Free: 1-855-781-7888