News Releases

Bonterra Energy Income Trust Tax Information for 2007

Feb 22, 2008 - 12:00 ET

CALGARY, ALBERTA--(Marketwire - Feb. 22, 2008) - Bonterra Energy Income Trust ( (TSX: BNE.UN) is pleased to provide the following tax information to assist our Unitholders in the preparation of their 2007 income tax returns.

Canadian Tax Information

The tax breakdown of the distributions is as follows:

Taxable Income (Other Income)                                         91.45%
Return of Capital                                                      8.55%


It should be noted that the return of capital, to the extent the units are in a taxable account, reduces the adjusted cost basis of your units. Kindly consult your tax advisor if you require further information.

US Tax Information

Trust Units Held Outside a Qualified Retirement Plan

With respect to cash distributions paid during the year to U.S. individual Unitholders, 7.9 percent should be reported as a return of capital (to the extent of the Unitholder's U.S. tax basis in their respective units) and 92.1 percent should be reported as "qualified dividends".

Kindly consult your tax advisor for further information.

Trust Units Held Within a Qualified Retirement Plan

No amounts are required to be reported on a Form 1040 where Bonterra trust units are held within a qualified retirement plan.

Bonterra Energy Income Trust is a conventional oil and gas royalty trust with operations in Alberta and Saskatchewan. Its units are listed on The Toronto Stock Exchange under the symbol "BNE.UN".


Bonterra Oil & Gas Ltd.
George F. Fink
President, and CEO
(403) 262-5307
Fax: (403) 265-7488


Bonterra Oil & Gas Ltd.
Garth E. Schultz
Vice President - Finance, and CFO
(403) 262-5307
Fax: (403) 265-7488


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