Pengrowth Energy Trust Files Application for Lindbergh SAGD Pilot Project

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Thu Apr 17, 2008 7:43pm EDT

  CALGARY, ALBERTA, Apr 17 (MARKET WIRE) -- 
 Pengrowth Corporation, administrator of Pengrowth Energy Trust (TSX:
PGF.UN) (NYSE: PGH), is pleased to announce that it has filed an
application with the Energy Resources Conservation Board (ERCB) and
Alberta Environment for a pilot scale Steam Assisted Gravity Drainage
(SAGD) project at the company's Lindbergh property.

    "This is the first step in evaluating the potential for a commercial,
environmentally responsible SAGD development project at Pengrowth's
Lindbergh location," stated James S. Kinnear, President and CEO,
Pengrowth Corporation.

    Key elements of Pengrowth's application include:

    - Property that is 100 percent owned by Pengrowth Corporation and located
approximately 30 kilometres southeast of Bonnyville, Alberta.

    - Location and quality of the associated product is classified as an oil
sands deposit.

    - Pengrowth is proposing to drill eight well pairs (16 wells in total)
from an existing well pad, along with plans to modify existing processing
facilities and install new gathering and steam injection pipelines.

    - The pilot project is to be conducted at an existing facility to
minimize environmental and surface impact.

    - Production associated with this proposed pilot project is expected to
be up to 2,500 barrels of oil per day equivalent. Production would begin
in the second half of 2009, pending the regulatory review process.

    As part of the company's detailed and comprehensive submission to the
ERCB and Alberta Environment, Pengrowth has also included an
Environmental Screening Report, which outlines ten studies or assessments
related to: air modeling; conservation and reclamation; economic and
social impacts; hydrogeology; land-use assessment; public consultation;
noise; soil assessment and mapping; vegetation and rare plants; and
wildlife.

    "The community has provided us with invaluable feedback throughout our
public consultation process and the studies we have already carried out,"
stated Kevin Matieshin, Pengrowth's Director of Health, Safety,
Environment and Technical Services. "We appreciate the time they have
invested in this process, and we now look forward to a thorough review of
this proposed pilot project application from the regulators."

    Upon completion of the proposed Lindbergh pilot project, Pengrowth will
be able to determine the commercial viability of a larger scale
production operation and confirm reserve estimates and quality.

    PENGROWTH CORPORATION

    James S. Kinnear, Chairman, President and Chief Executive Officer

    About Pengrowth:

    Founded in 1988, Pengrowth Energy Trust is one of North America's largest
and most successful energy trusts. The company is traded on both the New
York (PGH) and Toronto Stock Exchanges (PGF.UN), and has a current
enterprise value of approximately $6 billion (CDN) and more than 600 team
members who support its operations and activities. Pengrowth is
recognized as a pioneer and leader in the Canadian energy trust sector.

Contacts:
Pengrowth
Investor Relations
(403) 233-0224 or Toll Free: 1-888-744-1111
(403) 294-0051 (FAX)
Email: investorrelations@pengrowth.com

Pengrowth
Media Inquiries
(403) 266-8355
(403) 294-0051 (FAX)
Website: www.pengrowth.com

Copyright 2008, Market Wire, All rights reserved.

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