PrimeWest Energy Trust Announces Distribution Level for October 2006
SEP 7, 2006 - 18:39 ET
CALGARY, ALBERTA--(CCNMatthews - Sept. 7, 2006) - PrimeWest Energy Trust (TSX:PWI.UN)
(TSX:PWX) (TSX:PWI.DB.A) (TSX:PWI.DB.B) (NYSE:PWI) (PrimeWest or the Trust) announces
that the distribution payable October 13th, 2006 will be $0.30 per Trust Unit. The
ex-distribution date is September 20th, 2006 and the record date is September 22nd,
2006. This represents an 11% annualized pre-tax cash-on-cash yield based on the
September 7th closing price of $32.72 per Trust Unit.
Using a Canadian to U.S. dollar exchange rate of 0.90, the distribution amount is
approximately US$0.27 per Trust Unit. The actual U.S. dollar equivalent distribution
will be based upon the U.S./Canadian dollar exchange rate in effect on the payment
date, net of applicable Canadian withholding taxes.
PrimeWest is a Calgary-based conventional oil and gas royalty trust that actively
acquires, develops, produces and sells natural gas, crude oil and natural gas liquids
for the generation of monthly cash distributions to Unitholders. Trust Units of
PrimeWest are traded on the Toronto Stock Exchange (TSX) under the symbol "PWI.UN"
and on the New York Stock Exchange under the symbol "PWI". Exchangeable Shares of
PrimeWest Energy Inc. are listed on the TSX under the symbol "PWX". Five-year Convertible
Debentures of PrimeWest trade on the TSX under the symbol "PWI.DB.A" and the Seven-year
Convertible Debentures trade under the symbol "PWI.DB.B".
To learn more about PrimeWest, please visit our website at
www.primewestenergy.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
PrimeWest Energy Trust
George Kesteven
Manager, Investor Relations
(403) 699-7367 or Toll free: 1-877-968-7878
Email: investor@primewestenergy.com
Website: www.primewestenergy.com