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Press release from Marketwire

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

Wednesday, May 01, 2013

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

16:01 EDT Wednesday, May 01, 2013

CALGARY, ALBERTA--(Marketwired - May 1, 2013) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.16014 to 1.16535. This increase will be effective on May 15, 2013 (the "Effective Date").

The following are the details of the calculation of the Exchange Ratio:



Record Date of Bonavista Dividend





Opening Exchange Ratio



Bonavista Dividend per common share
Five day Weighted Average Trading Price of Bonavista common shares
(Prior to the end of the Month)





Increase in Exchange Ratio (1)



Effective Date of the increase in Exchange Ratio




Exchange Ratio as of the Effective Date
April 30, 2013
1.16014

$0.07

$15.59
0.00521 May 15,
2013

1.16535

(1) The increase in the Exchange Ratio is calculated by multiplying the Bonavista dividend per common share by the Exchange Ratio immediately prior to the Record Date and dividing by the five day weighted average trading price of Bonavista's common shares.

A holder of Bonavista exchangeable shares can exchange all or a portion of their holdings into Bonavista common shares, at any time, by giving notice to their investment advisor or Valiant Trust Company at its principal transfer office in Suite 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Glenn A. Hamilton
Senior Vice President & CFO


Bonavista Energy Corporation
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
(403) 213-4300

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