CALGARY, Aug. 18 /PRNewswire-FirstCall/ -- The board of directors of Peyto Exploration & Development Corp. (the "Board") has decided to suspend the operation of the distribution reinvestment plan ("DRIP") and optional trust unit purchase plan ("OTUPP") effective the September 30, 2006 distribution record date. Payments associated with future distribution record dates, including September 30, 2006, will be paid in cash to all unitholders. Accordingly, the August 31, 2006 distribution record date will be the last opportunity for unitholders to participate in the DRIP and OTUPP. The deadline for participation for August is 3:00 p.m. (Calgary time) on August 30, 2006. Pursuant to the DRIP and OTUPP, the Board has the discretion to resurrect the operation of these plans in the future if it is deemed appropriate.
Peyto is a natural gas weighted energy trust. Peyto is committed to maintaining its emphasis on building value through the exploration and development of high quality gas properties.
Certain information set forth in this document, including management's assessment of Peyto's future plans and operations, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond these parties' control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Peyto's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Peyto will derive therefrom. Peyto disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.
