CALGARY, June 15 /CNW/ - True Energy Trust ("True" or the "Trust")
confirms that the cash distribution for the month of June will be $0.08 per
unit, to be paid on July 16, 2007 to all unitholders of record as at June 29,
2007. The ex-distribution date for this payment is June 27, 2007. This
distribution announcement is consistent with the guidance provided in the news
release dated April 17, 2007.
True is pleased to announce an increase in the ratio for exchanging
Exchangeable Shares of True Energy Inc. into units of the Trust (the "Exchange
Ratio") from 0.76493 to 0.77486. This increase is effective on June 15, 2007.
The following are the details used in the calculation of the Exchange
Record Date of Distribution May 31, 2007
Opening Exchange Ratio 0.76493
True Energy Trust distribution per unit paid June 15, 2007 $0.08
5-day weighted average trading price (the "Current Market
Price") (including the last business day prior to
distribution payment date) $6.16211
Increase in Exchange Ratio 0.00993
Effective Date of increase in Exchange Ratio June 15, 2007
Exchange Ratio as of the Effective Date 0.77486
The increase in the exchange ratio is calculated by multiplying the True
Energy Trust distribution per unit by the previous month's exchange ratio and
dividing by the Current Market Price of TUI.UN. A holder of True Energy Inc.
Exchangeable Shares can exchange all or a portion of their holdings at any
time for the True Energy Trust Units by completing the Retraction Request Form
located on the back of the exchangeable certificate. Questions regarding
Exchangeable Shares should be directed to Computershare Trust Company of
Canada at 1-800-564-6253.
True Energy Trust is an exploration and production oil and gas trust
based in Calgary, Alberta, Canada. True is powered by a diverse asset base and
is focused on sustainable growth both in its people and in its properties.
True has a multi-year drilling inventory of 400 net locations in Alberta,
Saskatchewan and British Columbia.
True's approach to providing value to its securityholders with superior
returns is based on combining its commitment to fiscally conservative
management with a disciplined but opportunistic approach to
technically-focused exploration and high quality acquisitions. True supports a
culture of positive teambuilding, emphasizing the value of human capital,
working to exceed industry expectations, keeping True at the forefront of
today's competitive market.
For further information:
For further information: Paul Baay, Chairman & CEO, (403) 750-1272;
Wayne Chorney, President & COO, (403) 750-2420; Edward Brown, Vice President,
Finance & CFO, (403) 750-2655; Scott Koyich, Investor Relations, (403)
750-2428; Troy Winsor, Investor Relations, (800) 663-8072