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Press release from Marketwire

Bonavista Energy Trust Announces Closing of Bought Deal Financing

Thursday, April 15, 2010

Bonavista Energy Trust Announces Closing of Bought Deal Financing09:21 EDT Thursday, April 15, 2010CALGARY, ALBERTA--(Marketwire - April 15, 2010) - Bonavista Energy Trust ("Bonavista") (TSX:BNP.UN) is pleased to announce that it has completed its previously announced bought deal financing for gross proceeds of $177 million. Pursuant to the offering, Bonavista, through a syndicate of underwriters co-led by CIBC World Markets Inc. and TD Securities Inc. and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., National Bank Financial Inc., FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., Peters & Co. Limited and HSBC Securities (Canada) Inc., issued 7,500,000 trust units at a price of $23.60 per trust unit. Bonavista Energy Trust is a mid-sized energy trust created through the reorganization of Bonavista Petroleum Ltd. on July 2, 2003. Bonavista Energy Trust is committed to maintaining its emphasis on operating high quality oil and natural gas properties, providing moderate growth and delivering consistent distributions to its unitholders while ensuring financial strength and sustainability. Bonavista's trust units trade on the Toronto Stock Exchange under the symbol BNP.UN.FOR FURTHER INFORMATION PLEASE CONTACT: Keith A. MacPhail Chairman & CEO (403) 213-4300 or Jason E. Skehar President & COO (403) 213-4300 or Ronald J. Poelzer Executive Vice President (403) 213-4300 or Glenn A. Hamilton Senior Vice President & CFO (403) 213-4300 or Bonavista Energy Trust 700, 311 - 6th Avenue SW Calgary, AB T2P 3H2