News Releases
Harvest Energy Trust Confirms March 15th, 2004 Cash Distribution of $0.20 Per Unit and Updates Status of Dividend Reinvestement and Optional Unit Purchase Plan
Feb 13, 2004 - 09:00 ET
CALGARY, ALBERTA--(TSX: HTE.UN) - Harvest Energy Trust
("Harvest") announces that a cash distribution of $0.20 per trust
unit will be paid on March 15th, 2004 to Unitholders of record on
February 27th, 2004. Harvest trust units are expected to commence
trading on an ex-distribution basis on February 25th, 2004. This
distribution amount represents Distributable Cash earned in the
month of February 2004.
Harvest also announces that, as a result of the filing by the
Trust of its Initial Annual Information form dated December 10,
2003 and the issuance by the Commission des valeurs mobilieres du
Quebec of an order dated February 2, 2004, Trust Units issued
from treasury pursuant to the distribution reinvestment and
optional unit purchase plan of the Trust (the "DRIP Plan") to
Unitholders who are resident in Canada (including the Province of
Quebec) will, generally, not be subject to resale restrictions.
Detailed information respecting the DRIP Plan can be obtained
from Harvests' website at www.harvestenergy.ca or by contacting
Harvest, as presented below.
Harvest Energy Trust is a Calgary based oil and natural gas trust
that strives to deliver stable monthly cash distributions to its
Unitholders through its strategy of acquiring, enhancing and
producing crude oil, natural gas and natural gas liquids.
Harvest's assets, comprised of high quality light, medium and
heavy gravity crude oil properties in East Central Alberta and
South East Saskatchewan, and its hands-on operating strategy
underpin Harvest's objective to deliver consistent returns to
Unitholders.
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Harvest Energy Trust
1900, 330 - 5th Avenue S.W.
Calgary, AB T2P 0L4
Canada
TSE Symbol: HTE.UN
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ADVISORY: Certain information regarding Harvest Energy Trust and
Harvest Operations Corp. including management's assessment of
future plans and operations, may constitute forward-looking
statements under applicable securities law and necessarily
involve risks associated with oil and gas exploration,
production, marketing and transportation such as loss of market,
volatility of prices, currency fluctuations, imprecision of
reserve estimates, environmental risks, competition from other
producers and ability to access sufficient capital from internal
and external sources. As a consequence, actual results may differ
materially from those anticipated in the forward-looking
statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Harvest Energy Trust
Jacob Roorda
President
(403) 265-1178
or
Harvest Energy Trust
David M. Fisher
Vice President, Finance
(403) 265-1178
(403) 265-3490 (FAX)
Email: information@harvestenergy.ca
Website: www.harvestenergy.ca