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Sustainable Production Energy Trust Announces Exchange Ratios

Posted on: Wednesday, 5 October 2005, 00:00 CDT

Sustainable Production Energy Trust (the "Fund") (TSX:SPU.UN) is pleased to announce the exchange ratios relating to the Exchange Option (the "Exchange Option") with respect to the initial public offering of trust units (the "Offering"). The Exchange Option allows prospective purchasers to acquire units of the Fund by an exchange of freely tradeable units or shares of the predetermined list of Canadian Oil and Gas Trusts and Corporations eligible to be included in the Fund's portfolio (the "Issuers"). The Exchange Option expired on October 4, 2005.

The number of units of Sustainable Production Energy Trust to be issued for each unit or share of an Issuer (the "Exchange Ratio") was determined by dividing the weighted average trading price of the units or shares of each Issuer for the three consecutive trading days ending October 4, 2005, by $10.00, adjusted as necessary to reflect distributions or dividends declared by an Issuer after such date but before closing that will not be received by the Fund.

The following table indicates the Exchange Ratio for each Issuer used to determine the number of units of the Fund to be issued for each unit of an Issuer deposited.

The Offering is scheduled to close on October 17, 2005. The Toronto Stock Exchange has conditionally approved the listing of the Fund's units under the symbol "SPU.un", subject to certain TSX listing requirements.

The offering is being made through a syndicate of agents co-led by CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and TD Securities Inc. and includes National Bank Financial Inc., Scotia Capital Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Blackmont Capital Inc., Raymond James Ltd., Research Capital Corporation, Wellington West Capital Inc., Bieber Securities Inc. and McFarlane Gordon Inc.

For further information concerning the Offering or the Exchange Option, investors should consult the Final Prospectus or their financial advisor. Sustainable Production Energy Trust is the newest addition to the Citadel Group of Funds and we can be contacted at (403) 261-9674 or by email at info@citadelfunds.com.

Sustainable Production Energy Trust Exchange Option Ratios EXCHANGE RATIO (Trust Unit per Issuer Unit) ISSUERS Oil & Gas Trusts Acclaim Energy Trust 2.0431 Advantage Energy Income Fund 2.0956 ARC Energy Trust 2.3905 Baytex Energy Trust 1.8330 Bonavista Energy Trust 3.7092 Bonterra Energy Income Trust 2.3351 Canadian Oil Sands Trust 13.0035 Crescent Point Energy Trust 2.1636 Daylight Energy Trust 1.2918 Enerplus Resources Fund 5.4793 Enterra Energy Trust 2.8524 Esprit Energy Trust 1.4378 Fairborne Energy Trust 1.8468 Focus Energy Trust 2.4177 Freehold Royalty Trust 1.8671 Harvest Energy Trust 3.8047 Ketch Resources Trust 1.2913 NAL Oil & Gas Trust 2.0616 NAV Energy Trust 1.5938 Paramount Energy Trust 2.3291 Pengrowth Energy Trust 2.9286 Penn West Energy Trust 3.6139 Petrofund Energy Trust 2.2680 Peyto Energy Trust 3.0399 PrimeWest Energy Trust 3.4260 Progress Energy Trust 1.7672 Provident Energy Trust 1.4279 Sequoia Oil & Gas Trust 2.0548 Shiningbank Energy Income Fund 2.6445 Starpoint Energy Trust 2.3740 Thunder Energy Trust 1.3537 TKE Energy Trust 1.1077 Trilogy Energy Trust 2.7679 Vault Energy Trust 1.3524 Vermilion Energy Trust 2.8862 Viking Energy Trust 0.9752 Zargon Energy Trust 0.9826 Oil & Gas Corporations Atlas Energy Ltd. 0.4996 Bear Ridge Resources Ltd. 0.4835 Blackrock Ventures Inc. 1.0290 Bow Valley Energy Ltd. 0.5905 Bulldog Energy Inc. 0.3515 Canadian Superior Energy Inc. 0.2840 Caspian Energy Inc. 0.2611 Celtic Exploration Ltd. 1.2856 Centurion Energy International Inc. 1.3119 Cinch Energy Corp. 0.3619 Claude Resources Inc. 0.1038 Clear Energy Inc. 0.5605 Compton Petroleum Corporation 1.5804 Connacher Oil and Gas Ltd. 0.2523 Crew Energy Inc. 2.0017 Cyries Energy Inc. 1.7646 Defiant Resources Corporation 0.4676 Delphi Energy Corp. 0.5320 Duvernay Oil Corp. 4.2485 Endev Energy Inc. 0.2056 Fairquest Energy Ltd. 1.0657 Find Energy Ltd. 0.8217 First Calgary Petroleums Ltd. 0.9681 Gastar Exploration Ltd. 0.4065 Gentry Resources Ltd. 0.5520 Grey Wolf Exploration Inc. 0.6244 Innova Exploration Ltd. 0.8494 InterOil Corporation 2.6813 Iteration Energy Ltd. 0.5778 Ivanhoe Energy Inc. 0.2236 Kensington Resources Ltd. 0.4249 Kereco Energy Ltd. 1.6163 Kick Energy Corporation 0.8045 Luke Energy Ltd. 0.4315 Masters Energy Inc. 0.4743 Midnight Oil Exploration Ltd. 0.4425 Mission Oil & Gas Inc. 0.9469 Nelson Resources Limited 0.2592 Nexen Inc. 5.4608 Niko Resources Ltd. 5.2123 NuVista Energy Ltd. 1.9347 Pan-Ocean Energy Corporation Limited 2.9794 Peregrine Energy Ltd. 0.2572 Petrobank Energy and Resources Ltd. 0.9967 PetroFalcon Corporation 0.2266 Petrokazakhstan Inc. 6.3219 ProEx Energy Ltd. 1.7587 ProspEx Resources Ltd. 0.3844 Purcell Energy Ltd. 0.3392 Real Resources Inc. 2.7434 Rider Resources Ltd. 2.9794 Saxon Energy Services Inc. 0.5480 Storm Exploration Inc. 0.6019 Stylus Energy Inc. 0.3666 Tempest Energy Corp. 0.5724 Tesco Corporation 1.8084 TransGlobe Energy Corporation 0.7127 True Energy Inc. 0.5959 TUSK Energy Corporation 0.4829 West Energy Ltd. 0.8019

Sustainable Production Energy Trust (TSX:SPU.UN)

Source: Business Wire

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