Sound Energy Trust announces increase to exchangeable share ratio



    TSX: SND.UN

    CALGARY, April 2 /CNW/ - Sound Energy Trust ("Sound" or the "Trust")
announces the increase to the exchange ratio of the Series A Exchangeable
Shares of SET Resources Inc. from 1.66466 to 1.68961, Series B Exchangeable
Shares of SET Resources Inc. from 1.63990 to 1.66447, and Series D
Exchangeable Shares of SET Resources Inc. from 1.11819 to 1.13494. These
increases are effective April 16, 2007.
    The following table sets out the details of the calculation of the
Exchange Ratio for each of the Series A, Series B and Series D Exchangeable
Shares:

    
    -------------------------------------------------------------------------
             Record            Sound
             Date of           Energy  Five-day           Effective
             Sound             Trust   Weighted  Increase  Date of   Exchange
             Energy            Distri-  Average     in     Increase    Ratio
             Trust    Opening  bution   Trading  Exchange    in        as of
             Distri-  Exchange  per    Price of    Ratio  Exchange  Effective
             bution    Ratio    Unit   SND.UN(xx)  (xx)     Ratio      Date
    -------------------------------------------------------------------------
              March                                         April
    Series A  30/07   1.66466  $0.055  $4.016332  0.02283   16/07    1.68961
    -------------------------------------------------------------------------
              March                                         April
    Series B  30/07   1.63990  $0.055  $4.016332  0.02249   16/07    1.66447
    -------------------------------------------------------------------------
              March                                         April
    Series D  30/07   1.11819  $0.055  $4.016332  0.01533   16/07    1.13494
    -------------------------------------------------------------------------

    (xx) The increase in the applicable exchange ratio is calculated by
         multiplying the Sound Energy Trust distribution per Unit by the
         applicable exchange ratio immediately prior to the Record Date and
         dividing the result by the five-day weighted average trading price
         of the Trust Units prior to the first business day following the
         Record Date.
    

    A holder of SET Resources Inc. Exchangeable Shares can exchange all or a
portion of their holdings into Sound Energy Trust Units at any time by giving
notice to their investment advisor or Computershare Trust Company of Canada at
its principal transfer office at 710, 530 - 8th Avenue SW, Calgary AB T2P 3S8,
in the case of the Series A, Series B and Series D Exchangeable Shares.

    Sound is a Calgary-based, open-end oil and gas income trust whose Trust
Units trade on the Toronto Stock Exchange (the "TSX") under the symbol SND.UN.
Debentures issued by Sound trade on the TSX under the symbols SND.DB and
SND.DB.A.

    ADVISORY: Certain information regarding Sound Energy Trust including
management's assessment of future plans and operations, may constitute
forward-looking statements under applicable securities law and necessarily
involve risks associated with oil and gas exploration, production, marketing
and transportation such as loss of market, volatility of prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers and ability to access sufficient capital from
internal and external sources; as a consequence, actual results may differ
materially from those anticipated in the forward-looking statements.

    %SEDAR: 00020262E




For further information:

For further information: Anne-Marie Buchmuller, Manager, Investor
Relations, Phone: (403) 218-3664, Toll-free: 1-888-414-4144, Cell: (403)
472-0053, www.soundenergytrust.com

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SOUND ENERGY TRUST

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