Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio 
CALGARY, ALBERTA -- (Marketwired) -- 08/01/13 -- Bonavista Energy
Corporation ("Bonavista") (TSX:BNP) is pleased to announce the
increase to the Exchange Ratio of its exchangeable shares from
1.17632 to 1.18259. This increase will be effective on August 15,
2013 (the "Effective Date"). 
The following are the details of the calculation of the Exchange

                                   Five day                                 
                              Trading Price                                 
                    Bonavista  of Bonavista             Effective   Exchange
Record Date          Dividend common shares  Increase Date of the   Ratio as
 of          Opening      per     (Prior to        in increase in     of the
 Bonavista  Exchange   common    the end of  Exchange    Exchange  Effective
 Dividend      Ratio    share    the Month) Ratio (1)       Ratio       Date
July 31,                                               August 15,           
 2013        1.17632    $0.07        $13.13   0.00627        2013    1.18259
(1) The increase in the Exchange Ratio is calculated by multiplying the     
    Bonavista dividend per common share by the Exchange Ratio immediately   
    prior to the Record Date and dividing by the five day weighted average  
    trading price of Bonavista's common shares.                             

A holder of Bonavista exchangeable shares can exchange all or a
portion of their holdings into Bonavista common shares, at any time,
by giving notice to their investment advisor or Valiant Trust Company
at its principal transfer office in Suite 310, 606 - 4th Street S.W.,
Calgary, Alberta, T2P 1T1. 
Please visit our website at for detailed
corporate information.
Bonavista Energy Corporation
Glenn A. Hamilton
Senior Vice President & CFO 
1500, 525 - 8th Avenue SW
Calgary, AB T2P 1G1
(403) 213-4300
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