CALGARY, March 19 /CNW/ - Petrowest Energy Services Trust ("Petrowest")
(TSX - "PRW.UN") announced today that its cash distribution for month of March
2007 will be $0.10 per trust unit. The distribution will be paid on April 15,
2007 to unitholders of record on March 31, 2007. The trust units will commence
trading on an ex-distribution basis on March 28, 2007 at the opening of
Petrowest also announced that the cash distribution in respect of its
subordinate units for the period from the closing of its initial public
offering on September 7, 2006 to December 31, 2006 will be $0.37667 per
subordinated unit, which is equivalent to the distribution paid on the trust
units for the same period.
Petrowest provides pre-drilling and post-completion oilfield and
infrastructure services to the northern region of the western Canadian
sedimentary basin. Effective September 7, 2006, Petrowest completed the
acquisition of each of, and now carries on the business of each of, Gordon
Bros. Construction Ltd., Roy Larson Construction Ltd., Wales Contractors Ltd.,
D&D Well Services, Murtron Hauling Ltd., R. Bee Crushing Ltd., Safetymaster
Rentals Corp. (carrying on business as S.O.S. Oilfield Safety), Neuwest
Equipment Rentals Inc., Fitzpatrick Co. Ltd. and Northern Tractor Sales and
Rentals Co. Ltd., all of which are based in Grande Prairie, Alberta.
This news release contains forward-looking statements that involve
substantial known and unknown risks and uncertainties. These forward-looking
statements are identified by their use of terms and phrases such as
"anticipate," "achievable," "believe," "expect," "estimate," "plan," "intend,"
"project," "may," "should", "could", "predict", "may," "will," or similar
words suggesting future outcomes or language suggesting an outlook.
Forward-looking statements and information are based on Petrowest's current
beliefs as well as assumptions made by and information currently available to
Petrowest concerning anticipated business performance. Although management of
Petrowest considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
Forward-looking statements are subject to many external variables that
are beyond Petrowest's control, such as fluctuating prices for crude oil and
natural gas, changes in drilling activity, and general local and global
economic, political, business and weather conditions. If any of these, or
other uncertainties, materialize the actual results of Petrowest may vary
materially from those expected.
For further information:
For further information: Kenneth N. Drysdale, President and Chief
Executive Officer, or John B. Paul, Chief Financial Officer, at (780) 830-0881