Parallel Energy Trust Announces Results of the Election of its Directors

Parallel Energy Trust Announces Results of the Election of its Directors 
CALGARY, ALBERTA -- (Marketwired) -- 05/27/13 -- Parallel Energy
Trust (TSX:PLT.UN) ("Parallel" or the "Trust") today announced the
final director election results from its 2013 annual meeting of
unitholders held on May 23, 2013. The results of the director
elections are as follows: 

Nominee                              Votes For                Votes Withheld
Richard M. Alexander                13,590,793                     2,045,506
Christopher M. Burley               13,639,137                     1,997,162
Sigmund L. Cornelius                13,640,812                     1,995,487
Hilary A. Foulkes                   13,642,789                     1,993,510
Francis H. James                    13,642,212                     1,994,087
Philip J. Scherman                  15,112,561                       523,738
Henry W. Sykes                      15,057,535                       578,764

Parallel's objectives are to create stable, consistent returns for
investors through the acquisition and development of conventional oil
and natural gas reserves and production with unexploited low risk
potential in certain regions of the United States, and to pay out a
portion of available cash to holders of trust units on a monthly
basis. The trust units of Parallel are listed on the Toronto Stock
Exchange ("TSX") under the symbol "PLT.UN" and the debentures are
listed on the TSX under the symbol "PLT.DB". 
Parallel is a "mutual fund trust" under the Income Tax Act (Canada)
(the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in
the Tax Act), provided that the Trust complies at all times with its
investment restriction which precludes the Trust from holding any
"non-portfolio property" (as defined in the Tax Act). Further
information relating to Parallel is set out in Parallel's annual
information form dated March 25, 2013, which may be obtained on the
SEDAR website at under Parallel's profile. 
Forward-Looking Information 
This news release contains forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which
are beyond the control of Parallel, including, without limitation,
those listed under "Risk Factors" in Parallel's annual information
form dated March 25, 2013 (collectively, "forward-looking
information"). Forward-looking information in this news release
includes, but is not limited to, Parallel's objectives and status as
a mutual fund trust and not a SIFT trust, Parallel's expectations and
estimates regarding capital expenditure plans, current and future
production rates, commodity prices and foreign exchange rates, funds
from operations and distributions. Parallel cautions investors in
Parallel's securities about important factors that could cause
Parallel's actual results to differ materially from those projected
in any forward-looking statements included in this news release. Any
statements that express, or involve discussions as to, expectations,
beliefs, plans, objectives, assumptions or future events or
performance are not historical facts and may be forward-looking and
may involve estimates, assumptions and uncertainties which could
cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that the expectations set out in Parallel's final prospectus or
herein will prove to be correct and accordingly, prospective
investors should not place undue reliance on these forward-looking
statements. These statements speak only as of the date of this press
release and Parallel does not assume any obligation to update or
revise them to reflect new events or circumstances. 
In this news release, Parallel and its subsidiaries are referred to
collectively as the "Trust" or "Parallel" for purposes of
Parallel Energy Trust
Curtis Pelletier
Manager, Investor Relations
403-781-7888 or Toll Free: 1-855-781-7888
Press spacebar to pause and continue. Press esc to stop.