Parallel Energy Trust Announces Record Nine Month Production and Increases Exit Rate Production Guidance for 2013

Parallel Energy Trust Announces Record Nine Month Production and Increases Exit 
Rate Production Guidance for 2013 
CALGARY, ALBERTA -- (Marketwired) -- 10/01/13 -- Parallel Energy
Trust (TSX:PLT.UN) ("Parallel" or the "Trust") today provided a
production update and increased its 2013 exit rate production
guidance. 
During the third quarter of 2013, the Trust's daily production
averaged approximately 7,100 boe/day based on field data, which
results in a record nine month daily production rate of approximately
7,100 boe/day. Parallel's production in the third quarter was
negatively impacted by a severe electrical storm which interrupted
power to the Trust's operations, as well as a short-term outage at
one of the third-party facilities which processes a significant
portion of the Trust's production. Absent these interruptions,
Parallel estimates its production for the third quarter would have
been consistent with its second quarter production rate of 7,459
boe/day. 
Parallel's current production volumes indicate that the Trust's
annual corporate decline rate is lower than previously expected. The
lower decline rate is mainly due to operational efficiencies and the
positive impact of the Trust's workover program which aims to restore
lost production by performing cleanouts on Parallel's existing wells. 
As a result of the Trust's improved annual decline rate and
operational performance, Parallel is increasing its 2013 exit rate
production target from 7,100 boe/day to 7,300 boe/day. 
"Our team has been working hard to improve our production reliability
in 2013 and we are pleased that the positive results of our
initiatives are now apparent," said Rick Alexander, Parallel's
President and CEO. "During the third quarter we experienced two
significant disruptions to our operations; however, we were able to
mitigate the impact of these disruptions with the resulting downtime
being within our expected annual range of three to five per cent. Our
improved production reliability combined with lower than previously
expected decline rates will help to lower the capital we require to
maintain and grow our production in the future. This will further
enhance the sustainability of our distribution. We look forward to
providing additional updates in November with the release of our
third quarter financial and operating results." 
ABOUT PARALLEL ENERGY TRUST 
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 www.sedar.com under Parallel's profile. 
ADVISORIES 
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 and Parallel's expectations
and estimates regarding current and future production rates and
drilling results. 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
convenience. 
Oil and Gas Measures and Definitions 
This press release contains disclosure expressed as "boe" and
"boe/day". All oil and natural gas equivalency volumes have been
derived using the ratio of six thousand cubic feet of natural gas to
one barrel of oil. Equivalency measures may be misleading,
particularly if used in isolation. A conversion ratio of six thousand
cubic feet of natural gas to one barrel of oil is based on an energy
equivalency conversion method primarily.
Contacts:
Parallel Energy Trust
Curtis Pelletier
Manager, Investor Relations
403-781-7888 or Toll-Free: 1-855-781-7888
investor@parallelenergy.ca
 
 
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