Bonnett's Energy Services Trust completes sale of frac assets
TSX SYMBOL: BT.UN
CALGARY, Nov. 21 /CNW/ - Bonnett's Energy Services Trust (the "Trust" or"Bonnett's") is pleased to announce that it has completed its previouslyannounced sale of two multi-pumper conventional fracturing spreads and relatedequipment for $24.9 million, subject to adjustment.
As previously disclosed, Bonnett's has received approximately$12.4 million of the purchase price at the closing of the transaction, withthe remaining $12.4 million, as adjusted, to be received on or before December18, 2007.
Bonnett's will use the proceeds from the sale of the fracturing assets torepay outstanding indebtedness under its syndicated credit facility.
Disclosure Regarding Forward-Looking Statements
Certain statements contained in this news release constituteforward-looking statements. When used in this document, the words "may","would", "could", "will", "intend", "plan", "anticipate", "believe", "seek","propose", "estimate", "expect", and similar expressions, as they relate tothe Trust, are intended to identify forward-looking statements. Suchstatements reflect the Trust's current views with respect to future events andare subject to certain risks, uncertainties and assumptions. Many factorscould cause the Trust's actual results, performance or achievements to varyfrom those anticipated in this news release. Should one or more of these risksor uncertainties materialize, or should assumptions underlying forward-lookingstatements prove incorrect, actual results may vary materially from thosedescribed in this news release as intended, planned, anticipated, believed,estimated or expected. Except where required by law, the Trust does not assumeany obligation to update these forward-looking statements if conditions oropinions should change. Readers should not place undue reliance onforward-looking statements.
Additional Information
Additional information relating to the Trust is filed on SEDAR and can beviewed at . This information includes the Trust's AnnualInformation Form dated March 31, 2007. Information can also be obtained bycontacting the Trust at Bonnett's Energy Services Ltd., R.R. 2, Site 33, Box1, Grande Prairie, Alberta T8V 2Z9. Information is also available at theTrust's website at .
For further information
Murray Toews, Chief Executive Officer or KelvinTorgerson, Chief Financial Officer At (780) 830-2705, Fax: (780) 532-4811,E-mail:
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