Pengrowth Energy Trust announces the closing of the Swan Hills Unit No. 1 acquisition

Pengrowth Energy Trust announces the closing of the Swan Hills
Unit No. 1 acquisition
Stock Symbol: PGF.A/PGF.B, TSX; PGH, NYSE 


CALGARY, Feb. 28  /PRNewswire-FirstCall/ -- Pengrowth Corporation
("Pengrowth"), administrator of Pengrowth Energy Trust, announced today that it
has closed the previously announced acquisition of an additional working
interest in Swan Hills Unit No. 1. Pengrowth successfully acquired an
additional working interest of 11.89% increasing Pengrowth's total working
interest in the Swan Hill Unit to 22.34%. The acquisition will add
approximately 1,390 barrels of oil equivalent (boe) production per day and
additional reserves of approximately 9.7 mmboe on a total proved reserves basis
and 12.0 mmboe on a proved plus probable reserves basis based on an independent
appraisal performed by Gilbert Laustsen Jung Associates Ltd. The transaction
was completed for an adjusted purchase price of $87 million. Pengrowth funded
the purchase through existing bank facilities.

PENGROWTH CORPORATION

James S. Kinnear, President 

DATASOURCE: Pengrowth Energy Trust



CONTACT: about Pengrowth, please visit our website

http://www.pengrowth.com/ or contact: Investor Relations, E-mail:

, Telephone: [phone], Toll Free:

1-800-223-4122, Facsimile: [phone]; Investor Relations, Toronto, Toll

Free: 1-888-744-1111, Facsimile: [phone]

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