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Press release from CNW Group

KEITH BRYANT WELCH ANNOUNCES HOLDINGS OF UNITS OF EAGLE ENERGY TRUST

Thursday, February 10, 2011

KEITH BRYANT WELCH ANNOUNCES HOLDINGS OF UNITS OF EAGLE ENERGY TRUST14:12 EST Thursday, February 10, 2011/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/CALGARY, Feb. 10 /CNW/ - Keith Bryant Welch, the President and a significant equityholder of OAG Holdings, LLC ("OAG") announces that on November 24, 2010, he acquired 54,679 trust units of Eagle Energy Trust (the "Issuer") at a price of $5.00 per unit.  The trust units were issued to Mr. Welch upon the completion of the Issuer's initial public offering, as a result of the automatic conversion of $273,396 principal amount of convertible notes.  As previously disclosed by OAG in a press release issued on November 24, 2010, OAG acquired 2,000,000 trust units pursuant to the Issuer's initial public offering.  As of the date hereof, OAG and Mr. Welch, who may be regarded as having acted jointly or in concert in connection with the acquisition of trust units of the Issuer pursuant to National Instrument 62-104 "Take-Over Bids and Issuer Bids", collectively hold an aggregate of 2,054,679 trust units representing approximately 11.4% of the issued and outstanding trust units of the Issuer.  The trust units were acquired by Mr. Welch for investment purposes.Mr. Welch may from time to time acquire additional trust units, dispose of some or all of the existing or additional trust units or continue to hold the trust units.Mr. Welch will file an early warning report pursuant to National Instrument 62-103 "The Early Warning System and Related Take-Over Bid and Insider Reporting Issues" describing the above transaction with applicable securities regulatory authorities, a copy of which will be available at www.sedar.com.  This press release, and the related early warning report, does not constitute an admission that Mr. Welch owns or controls any of the trust units held by OAG, nor does it constitute an admission that Mr. Welch acted jointly or in concert with OAG in acquiring such securities.For further information: OR FOR A COPY OF THE EARLY WARNING REPORT, PLEASE CONTACT:DeeDee Hooker OAG Holdings, LLC 1900 Bridge Lane, Unit 5B Steamboat Springs, Colorado 80487Telephone:      Fax:(970) 871-1250 (970) 871-1251