Harvest Energy Announces July 2009 Distribution

Mon Jul 6, 2009 5:00pm EDT
 
[-] Text [+]
  CALGARY, ALBERTA, Jul 06 (MARKET WIRE) -- 
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 August 17, 2009 to all Harvest unitholders of record on July 22, 2009.
The ex-distribution date for this payment is July 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 0.8609
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.


                                                         $CAD          $USD
               Ex-Distribution                   Distribution  Distribution
Record Date               Date     Payment Date        Amount        Amount
----------------------------------------------------------------------------
July 22, 2009    July 20, 2009  August 17, 2009  $       0.05 $      0.04(i)

(i) This amount assumes an exchange rate of $0.8609 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".

Contacts:
Harvest Energy
John Zahary
President & CEO
(403) 265-1178 or Toll Free: 1-866-666-1178

Harvest Energy
Robert Fotheringham
Chief Financial Officer
(403) 265-1178 or Toll Free: 1-866-666-1178

Harvest Energy
Jason Crumley
Manager, Investor Relations
(403) 265-1178 or Toll Free: 1-866-666-1178

Harvest Energy
2100, 330 - 5th Avenue S.W.
Calgary, AB Canada T2P 0L4
(403) 265-1178 or Toll Free: 1-866-666-1178
Email: information@harvestenergy.ca
Website: www.harvestenergy.ca

Copyright 2009, Market Wire, All rights reserved.

-0-

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video