Corporate Overview
Bonavista Energy Trust is a Calgary-based conventional oil and gas royalty trust created through the re-organization of Bonavista Petroleum Ltd. in July 2003. Our base of operations are geographically focused within Alberta, Saskatchewan and North Eastern British Columbia, and possess a high level of company operated properties allowing for timely and low cost production additions. Production for 2008 is expected to average approximately 54,400 – 55,000 BOE per day, and is well balanced consisting of 55% natural gas and 45% oil and liquids. Consistent and predictable monthly distributions of $.30 per unit are accomplished by maintaining or modestly growing our production base through the application of our technical and operational expertise in a disciplined and cost effective manner. Bonavista Energy Trust is also one of North America's largest energy trusts, with a market capitalization of approximately $3.2 billion CDN as at January 1, 2008, and trades on the Toronto Stock Exchange under the symbol of BNP.UN.

Bonavista Energy Trust's core strategy involves:

• delivering consistent and sustainable monthly cash distributions to its unitholders;
• applying a strong technical focus to its high quality assets;
• developing low cost, low risk economic opportunities on its large and prospective undeveloped land base;
• focusing on low cost operations;
• ensuring a high level of capital efficiency and cost discipline; and
• maintaining financial strength and flexibility.