PrimeWest Energy Trust Announces Closing of Bought Deal Financing

PrimeWest Energy Trust Announces Closing of Bought Deal Financing
TSX: PWI.UN; PWX; NYSE: PWI 


CALGARY, April 22  /PRNewswire-FirstCall/ -- PrimeWest Energy Trust (PrimeWest)
today announced the closing of the previously announced equity financing of 5.4
million Trust Units, at $26.30 per Trust Unit, for total gross proceeds of $142
million.

The underwriting syndicate was led by Scotia Capital Inc. and included CIBC
World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC
Capital Markets, TD Securities Inc., Canaccord Capital Corporation, HSBC
Securities (Canada) Inc., Desjardins Securities Inc. and GMP Securities Ltd.

The net proceeds of the issue will be to reduce debt partially incurred in the
previously announced $44 million acquisition of Seventh Energy, for ongoing
capital expenditures and for general corporate purposes.

The trust units have not been, and will not be, registered under the U.S.
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements.

PrimeWest is a Calgary-based conventional oil and gas royalty trust that
actively acquires, develops, produces, and sells natural gas, crude oil, and
natural gas liquids for the generation of monthly cash distributions to
unitholders. Trust units of PrimeWest are traded on the Toronto Stock Exchange
(TSX) under the symbol "PWI.UN" and on the New York stock Exchange under the
symbol "PWI". Exchangeable shares of PrimeWest Energy Inc. are listed on the
TSX under the symbol "PWX".

Learn more about PrimeWest on our Web site, http://www.primewestenergy.com/. 

DATASOURCE: PrimeWest Energy Trust



CONTACT: For Investor Relations inquiries, please contact: George

Kesteven, Manager, Investor Relations, 403-699-7367; Cindy Gray, Investor

Relations Advisor, 403-699-7356, Toll-free: 1-877-968-7878, e-mail:

;

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