Bellatrix Exploration Ltd.
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True Energy Trust Confirms June Distribution and Announces Increase to Exchangeable Share Ratio

View All News Releases May 15, 2007


    CALGARY, May 15 /CNW/ - True Energy Trust ("True" or the "Trust")
confirms that the cash distribution for the month of May will be $0.08 per
unit, to be paid on June 15, 2007 to all unitholders of record as at May 31,
2007. The ex-distribution date for this payment is May 29, 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 0.75516 to 0.76493. This increase is effective on May 15, 2007.

    The following are the details used in the calculation of the Exchange
Ratio:Record Date of Distribution                               April 30, 2007

    Opening Exchange Ratio                                           0.75516

    True Energy Trust distribution per unit paid May 15, 2007          $0.08

    5-day weighted average trading price                            $6.18525
    (the "Current Market Price")
    (including the last business day prior to
    distribution payment date)

    Increase in Exchange Ratio                                       0.00977

    Effective Date of increase in exchange Ratio                May 15, 2007

    Exchange Ratio as of the Effective Date                          0.76493The 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 a Retraction Request form
which can be obtained by contacting Computershare Trust Company of Canada at
(403) 267-6894.

    %SEDAR: 00021401E

Bellatrix Exploration Ltd.
1920, 800 5th Avenue SW
Calgary, Alberta T2P 3T6
Main: 403-266-8670
Fax: 403-264-8163
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