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Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio


Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA -- (Marketwired) -- 10/02/13 -- Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.18892 to 1.19526. This increase will be effective on October 15, 2013 (the "Effective Date").

The following are the details of the calculation of the Exchange Ratio:


 
                                 Five day                              
                                 Weighted                              
                                  Average                              
                                  Trading                              
                                 Price of           Effective          
                                Bonavista             Date of          
                                   common                 the  Exchange
Record               Bonavista     shares  Increase  increase  Ratio as
 Date of    Opening   Dividend  (Prior to        in        in    of the
 Bonavista Exchange per common the end of  Exchange  Exchange Effective
 Dividend     Ratio      share the Month) Ratio (1)     Ratio      Date
-----------------------------------------------------------------------
                                                                       
September                                             October          
30, 2013    1.18892      $0.07     $13.13   0.00634  15, 2013   1.19526
-----------------------------------------------------------------------

(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 www.bonavistaenergy.com for detailed corporate information. Contacts: Bonavista Energy Corporation Glenn A. Hamilton Senior Vice President & CFO

1500, 525 - 8th Avenue SW Calgary, AB T2P 1G1 (403) 213-4300 www.bonavistaenergy.com

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