Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio  CALGARY, ALBERTA -- (Marketwired) -- 02/03/14 --   Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.21443 to 1.22019. This increase will be effective on February 17, 2014 (the "Effective Date").  The following are the details of the calculation of the Exchange Ratio:        ----------------------------------------------------------------------- -----                                       Five day                                                                     Weighted                                                              Average Trading           Effective                                                 Price of             Date of                                                Bonavista                 the  Exchange Record                Bonavista  common shares  Increase  increase  Ratio as  Date of     Opening   Dividend  (Prior to the        in        in    of the  Bonavista  Exchange per common     end of the  Exchange  Exchange Effective  Dividend      Ratio      share         Month) Ratio (1)     Ratio      Date ---------------------------------------------------------------------------- January                                                   February            31, 2014    1.21443      $0.07         $14.75   0.00576  17, 2014   1.22019 ----------------------------------------------------------------------------   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.   Aholder 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 (403) 213-4300 www.bonavistaenergy.com