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Press release from CNW Group


Wednesday, June 29, 2011

PETROWEST ENERGY SERVICES TRUST UNITHOLDERS APPROVE CONVERSION TO A CORPORATION19:01 EDT Wednesday, June 29, 2011CALGARY, June 29, 2011 /CNW/ - Petrowest Energy Services Trust (the "Trust" or "Petrowest")held an annual and special meeting (the "Meeting") of holders of priority units (the "Trust Units") and subordinated units (the "Subordinated Units" and together with the Trust Units, the "Units") of the Trust today.  At the Meeting, the holders of Units passed, among other things, a special resolution approving an arrangement, pursuant to Section 193 of the Business Corporations Act (Alberta), involving, among others, the Trust, Petrowest Corporation and the holders ("Unitholders") of Units (the "Arrangement"), which will result in the reorganization of Petrowest's income trust structure into a publicly-traded corporation, Petrowest Corporation.  In addition, the Court of Queen's Bench of Alberta issued its final order approving the Arrangement after the Meeting.It is presently anticipated that the Arrangement will become effective on July 1, 2011.  Following completion of the Arrangement, the Trust expects the common shares of Petrowest Corporation, the successor to the Trust, to be listed for trading on the Toronto Stock Exchange (the "TSX") under the symbol "PRW".  The Trust Units will be delisted following the Arrangement.For further information: Unitholders can view the report of voting results filed by the Trust in respect of the Meeting at