M. Bruce Chernoff acquires securities of BlackWatch Energy Services Trust

    CALGARY, Oct. 18 /CNW/ - On October 4, 2007, M. Bruce Chernoff
("Chernoff"), through an entity controlled by him, acquired ownership and
control of 1,046,103 trust units of BlackWatch Energy Services Trust
("BlackWatch") and 1,666,667 BlackWatch warrants (the "Warrants"), each of
which allows the holder to purchase one (1) BlackWatch trust unit for
$1.68 per trust unit, which securities were issued pursuant to the terms of a
credit agreement entered into by BlackWatch with an entity controlled by
Chernoff. As a result, Chernoff, directly or indirectly through entities
controlled by him, has increased his ownership or control of securities of
BlackWatch to 4,332,678 trust units, 1,274,638 exchangeable units and
1,666,667 Warrants. Such BlackWatch trust units and exchangeable units
represent, in aggregate, 17.9% of the outstanding trust units and exchangeable
units of the Trust.

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