Close
Bellatrix Exploration Ltd.
  • Stock Quote
BXE
TMX

True Energy Trust Provides Disposition Update


View All News Releases April 30, 2008

    TSX: TUI.UN

    CALGARY, April 30 /CNW/ - Further to the press release dated
April 17, 2008 True Energy Trust ("True") announces that it has completed the
previously announced sale of its Dodsland-Stranraer property in Saskatchewan.
Effective March 1, 2008, proceeds of approximately $40 million, prior to
closing adjustments, will be utilized to reduce True's bank indebtedness.
    Additionally, True announces its decision not to pursue further
Saskatchewan asset disposition options at this time. True feels that the new
strategic direction's goal of increased financial flexibility is sufficiently
achieved through the combination of vastly improved commodity prices, receipt
of the Dodsland-Stranraer disposition proceeds, and a continued distribution
level of $0.04 per unit per month, while retaining a larger production base.

    True Energy Trust is an exploration and production oil and gas trust
based in Calgary, Alberta, Canada.

    Forward Looking Statements: Certain information set forth in this news
release, including management's assessments of the future plans and
operations, may contain forward-looking statements, and necessarily involve
risks and uncertainties, certain of which are beyond True's control including,
risks associated with oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets and other economic
and industry conditions, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, inability to retain drilling services,
incorrect assessment of value of acquisitions and failure to realize the
benefits therefrom, delays resulting from or inability to obtain required
regulatory approvals, the lack of availability of qualified personnel or
management, risks related to closing of dispositions, stock market volatility
and ability to access sufficient capital from internal and external sources,
economic or industry condition changes. Actual results, performance or
achievements could differ materially from those expressed in, or implied by,
these forward-looking statements and, accordingly, no assurance can be given
that any events anticipated by the forward-looking statements will transpire
or occur, or if any of them do so, what benefits that True or its
securityholders will derive therefrom. Additional information on these and
other factors that could affect True are included in reports on file with
Canadian securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com), at True's website (www.trueenergytrust.com).
Furthermore, the forward-looking statements contained in this news release are
made as of the date of this news release, and True does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or
otherwise, except as may be expressly required by applicable securities law.

    %SEDAR: 00021401E



Bellatrix Exploration Ltd.
1920, 800 5th Avenue SW
Calgary, Alberta T2P 3T6
Main: 403-266-8670
Fax: 403-264-8163
Twitter Facebook LinkedIn
Bellatrix Exploration
Investor Relations
investor.relations@bxe.com
Emergency Contact
1-403-266-8670