Parallel Energy Trust - 2011-04-29

Completed its initial public offering of 34.2 million trust units priced at $10 per unit. The net proceeds and an advance under a credit facility were used by Parallel to acquire a 51% interest in a liquids-rich natural gas property located in the West Panhandle Field in Texas for approximately US$377.4 million. The offering was completed through a syndicate of underwriters co-led by CIBC, RBC Capital Markets and Scotia Capital Inc., and including BMO Capital Markets, TD Securities Inc., Canaccord Genuity Corp., National Bank Financial Inc., Desjardins Securities, HSBC Securities (Canada) Inc., FirstEnergy Capital Corp. and Peters & Co. Ltd.