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PrimeWest Energy Trust Announces Brief Postponement of Final Court Approval of A

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-23
CALGARY, ALBERTA--(MARKET WIRE)--Nov 22, 2007 -- PrimeWest Energy Trust ("PrimeWest") (Toronto: - ) (Toronto: - ) (Toronto: - ) (Toronto: - ) (Toronto: - ) (NYSE: - ) announces that an application was commenced beforethe Court of Queen's Bench of Alberta today for a finalorder approving the Arrangement pursuant to which 1350849Alberta Ltd., a wholly-owned subsidiary of Abu Dhabi NationalEnergy Company PJSC, would acquire all of the issued andoutstanding securities of PrimeWest for a cash considerationequivalent to C$26.75 per Trust Unit. As previously announced,at a Special Meeting held yesterday, Securityholders ofPrimeWest voted over 95% in favour of the Arrangement.

The hearing of the application will be completed on Friday,November 23, 2007. Completion of the Arrangement remainssubject to closing conditions typical for a transactionof this nature.

PrimeWest is a Calgary-based conventional oil and gas royaltytrust that actively acquires, develops, produces and sellsnatural gas, crude oil and natural gas liquids for the generationof monthly cash distributions to Unitholders. Trust Unitsof PrimeWest trade on the Toronto Stock Exchange (TSX) underthe symbol "PWI.UN" and on the New York Stock Exchange underthe symbol "PWI". Exchangeable Shares of PrimeWest EnergyInc. trade on the TSX under the symbol "PWX". Series I ConvertibleDebentures of PrimeWest trade on the TSX under the symbol"PWI.DB.A", Series II Convertible Debentures trade underthe symbol "PWI.DB.B" and Series III Convertible Debenturestrade under the symbol "PWI.DB.C".

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