CALGARY, June 15 /CNW/ - Crescent Point Energy Trust ("Crescent Point" or
the "Trust") confirms that the cash distribution to be paid on July 15, 2009,
in respect of June 2009 production, for unitholders of record on June 30, 2009
will be $0.23 per trust unit. The ex-distribution date is June 26, 2009.
Crescent Point also announces that to facilitate the Trust's previously
announced conversion to a dividend paying corporation, which conversion is
expected to be completed on or about July 2, 2009, Crescent Point is
suspending its Premium Distribution, Distribution Reinvestment and Optional
Unit Purchase Plan for the month of June 2009. Crescent Point expects to adopt
a similar plan following the completion of the conversion and beginning with
the month of July 2009.
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute forward
looking statements, including statements in respect of expectations regarding
the completion of the conversion of the Trust to a corporation; and the
adoption of a plan similar to the Trust's existing Premium Distribution,
Distribution Reinvestment and Optional Unit Purchase Plan. All forward-looking
statements are based on the Crescent Point's beliefs and assumptions based on
information available at the time the assumption was made. The use of any of
the words "anticipate", "expect", and similar expressions are intended to
identify forward looking statements. By their nature, such forward-looking
information involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from those
anticipated in such forward looking statements, including those material risks
discussed in our annual information form under "Risk Factors", those described
in our MD&A under "Business Risks and Prospects" and the following material
risk factors: conversion of the Trust on or about July 2, 2009 to a
corporation; and general business and market conditions. Additional
information on these and other factors that could affect Crescent Point's
operations or financial results are included in Crescent Point's reports on
file with Canadian securities regulatory authorities. These statements speak
only as of the date of this press release or as of the date specified in this
press release. Readers are cautioned not to place undue reliance on this
forward-looking information, which is given as of the date it is expressed
herein or otherwise and, unless required by law, Crescent Point undertakes no
obligation to update publicly or revise any forward-looking information,
whether as a result of new information, future events or otherwise.
This news release is not for dissemination in the United States or to any
United States news services. The trust units of Crescent Point have not and
will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold in the United States or to any U.S. person except in
certain transactions exempt from the registration requirements of the U.S.
Securities Act and applicable state securities laws.
Crescent Point Energy Trust is a conventional oil and gas income trust
with assets strategically focused in properties comprised of high quality,
long life, operated, light oil and natural gas reserves in western Canada.
CRESCENT POINT ENERGY TRUST
President and Chief Executive Officer
Trust units of Crescent Point are traded on the Toronto Stock Exchange
under the symbol CPG.UN.
For further information:
For further information: Crescent Point Energy Trust, c/o Crescent Point
Resources Inc., Trent Stangl, Vice President Marketing and Investor Relations,
Greg Tisdale, Chief Financial Officer, Telephone: (403) 693-0020, Telecopier:
(403) 693-0070, Toll-free (Canada & United States) 1-888-693-0020.