ENERGY TRUSTS / Pengrowth Corporation/Pengrowth Energy Trust Announces
Extra Distribution on February 15, 1999
CALGARY, Jan. 21 /CNW/ - Pengrowth Corporation (''Pengrowth''),
administrator of Pengrowth Energy Trust (''EnergyTrust''), announced that the
cash distribution payable February 15, 1999 will total $0.13 per trust unit,
comprised of the regular monthly distribution of $0.11 per trust unit, and an
extra distribution of $0.02 per trust unit. The ex-distribution date for the
February 15, 1999 cash distribution is January 28, 1999.
The extra distribution of $0.02 per trust unit includes distributable
income earned to December 31, 1998 according to preliminary unaudited
financial estimates. The trailing one-year cash distributions are now $1.525
per trust unit.
Pengrowth is also pleased to report that over 1,000 barrels per day of
incremental oil are currently being produced from two Judy Creek horizontal
injector well patterns at 5-33-63-10 W5 and 15-33-63-10 W5. Henry McKinnon,
General Manager, Operations reports that ''Response from the horizontal
miscible flood program continues to provide positive results. We believe that
we are currently sweeping new portions of the reservoir not previously
contacted by the vertical flood program. Incremental oil recovery is expected
to continue to increase, however more production history will be required
before the full extent and duration of the response is known''.
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