Business & Finance
Business and Finance
Business and Finance
Thu, April 9, 2009
Wed, April 8, 2009
Tue, April 7, 2009 HARVEST ENERGY TRUST: Harvest Energy Announces April 2009 Distribution
CALGARY, ALBERTA--(Marketwire - April 7, 2009) - Harvest Energy Trust ("Harvest") (TSX:HTE.UN) (NYSE:HTE) today announces a cash distribution in the amount of C$0.05 per unit; payable on May 15, 2009 to all Harvest unitholders of record on April 22, 2009. The ex-distribution date for this payment is April 20, 2009.
The C$0.05 per unit distribution is equivalent to approximately US$0.04 per unit if converted using a Canadian/US dollar exchange ratio of 0.8103 USD/$1.00 CAD. The U.S. dollar equivalent distribution will be based upon the prevailing Canadian/US exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may apply.
The distribution declared is based on forecast commodity price levels and operating performance that are consistent with the current environment.
$USD
Ex-Distribution $CAD Distribution Distribution
Record Date Date Payment Date Amount Amount
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April 22, 2009 April 20, 2009 May 15, 2009 $0.05 $0.04(i)
(i) This amount assumes an exchange rate of $0.8103 USD / $1.00 CAD, which
may not reflect the exchange rate in effect on the payment date. This
conversion is provided for directional information only.
Harvest is a significant operator in Canada's energy industry offering unitholders exposure to an integrated structure with upstream (exploration, development & production of crude oil and natural gas) and downstream (refining & marketing of distillate, gasoline and fuel oil) segments. We focus on identifying opportunities to create and deliver value to unitholders through monthly distributions and unit price appreciation. Our upstream oil and gas production is weighted approximately 70% to crude oil and liquids and 30% to natural gas, and is complemented by our long-life refining and marketing business. Harvest trust units are traded on the Toronto Stock Exchange ("TSX") under the symbol "HTE.UN" and on the New York Stock Exchange ("NYSE") under the symbol "HTE".
