CALGARY, May 6 /CNW/ - Bonnett's Energy Services Trust (TSX: BT.UN) ("Bonnett's", or the "Trust") announces its intention to convert to a growth oriented corporation (the "Conversion") pursuant to a Plan of Arrangement under the Business Corporations Act (Alberta.) The Board of directors of Bonnett's Energy Services Ltd., administrator of the Trust, has approved the Conversion and will seek the approval of unitholders at the annual and special meeting of unitholders on June 27, 2011.

The Conversion will be subject to required court and regulatory approvals and to unitholder approval. Full details of the Conversion will be set forth in an information circular expected to be mailed to unitholders in late May.

Bonnett's Energy Services is a diversified Trust, providing wireline and testing services, fishing and oilfield rentals in the Western Canadian Sedimentary Basin. Bonnett's Energy Services is a publicly traded Trust listed on the Toronto Stock Exchange under the symbol "BT.UN".


This press release contains forward-looking information within the meaning of applicable Canadian securities law. This information is subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking information. When used in this document, the words "plan", "anticipate", "believe", "seek", "propose", "estimate", "intend" and similar expressions, as well as future or conditional verbs such as "may", "would", "could", and "will", as they relate to the Trust, are intended to identify forward-looking information. Such information reflects the Trust's current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, without limitation, those described herein and in the Trust's MD&A for the year ended December 31, 2010, under the heading "Risks and uncertainties", and "Outlook".  Although management of the Trust believes that the expectations reflected in such forward-looking information are reasonable, there can be no assurance that such expectations will prove to have been correct because, should one or more of the enumerated risks or uncertainties materialize, or should the assumptions underlying forward-looking information prove incorrect, actual results may vary materially from those described above as intended, planned, anticipated, believed, estimated or expected.  Except where required by law, the Trust does not assume any obligation to update forward-looking information if conditions or opinions should change.  Readers should not place undue reliance on forward-looking information.  All of the forward-looking information of the Trust contained in this press release is expressly qualified, in their entirety, by this cautionary statement.

SOURCE Bonnett's Energy Services Trust

For further information:

Additional information can 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 or by contacting Murray Toews, Chief Executive Officer at (780) 513-3400 or David Ross, Chief Financial Officer at (403) 264-3010, Fax: (403) 693-0093, E-mail:

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Bonnett's Energy Services Trust

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