Bonnett's Energy Services Trust announces sale of frac assets



    TSX SYMBOL: BT.UN

    CALGARY, Nov. 9 /CNW/ - Bonnett's Energy Services Trust (the "Trust" or
"Bonnett's") is pleased to announce that it has agreed to sell two
multi-pumper conventional fracturing spreads and related equipment to Calfrac
Well Services Ltd. ("Calfrac") for $24.8 million, subject to adjustment, which
approximates the current book value of these assets. This transaction has
received the approval of the board of directors of Bonnett's Energy Services
Ltd., the administrator of the Trust, and the board of directors of Calfrac.
    Closing of the transaction is anticipated to occur on November 15, 2007,
or such later date as may be agreed to by the parties. Bonnett's will receive
$12.4 million of the purchase price on the closing date of the transaction,
with the remaining $12.4 million, as adjusted, to be received three weeks
thereafter.
    Bonnett's will use the proceeds from the sale of the fracturing assets to
repay outstanding indebtedness under its syndicated credit facility.

    Disclosure Regarding Forward-Looking Statements

    Certain statements contained in this news release constitute
forward-looking statements. When used in this document, the words "may",
"would", "could", "will", "intend", "plan", "anticipate", "believe", "seek",
"propose", "estimate", "expect", and similar expressions, as they relate to
the Trust, are intended to identify forward-looking statements. Such
statements reflect the Trust's current views with respect to future events and
are subject to certain risks, uncertainties and assumptions. Many factors
could cause the Trust's actual results, performance or achievements to vary
from those anticipated in this news release. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying forward-looking
statements prove incorrect, actual results may vary materially from those
described in this news release as intended, planned, anticipated, believed,
estimated or expected. Except where required by law, the Trust does not assume
any obligation to update these forward-looking statements if conditions or
opinions should change. Readers should not place undue reliance on
forward-looking statements.

    Additional Information

    Additional information relating to the Trust is filed on SEDAR and can be
viewed at www.sedar.com. This information includes the Trust's Annual
Information Form dated March 31, 2007. Information can also be obtained by
contacting the Trust at Bonnett's Energy Services Ltd., R.R. 2, Site 33, Box
1, Grande Prairie, Alberta T8V 2Z9. Information is also available at the
Trust's website at www.bonnettsenergy.com.

    %SEDAR: 00022595E




For further information:

For further information: Murray Toews, Chief Executive Officer or Kelvin
Torgerson, Chief Financial Officer At (780) 830-2705, Fax: (780) 532-4811,
E-mail: info@bonnettsenergy.com

Organization Profile

BONNETT'S ENERGY SERVICES TRUST

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