Paramount Energy Trust Receives Favourable Decision on Leave to Appeal Application.Energy Editors/Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Jan. 28, 2004 Paramount Energy Trust ("PET" or the "Trust") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :PMT See photomultiplier tube. .UN) have been informed today by the Court of Appeal that its Application filed by PET and others seeking leave to appeal GB 2003-28 has been granted. The application challenges the validity of GB 2003-28 based on concerns regarding the lack of a fair and reasonable process. Unless the Alberta Energy and Utilities Board follows a fair and reasonable process as required by its legislation, then the Court hearing would proceed. "This is very good news for us and we look forward to presenting our position to the Court of Appeal," said Sue Riddell Rose, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We have said the process is inappropriate and we will continue to firmly hold this position." The Court of Appeal Memorandum of Decision can be found on the Trust's website at www.paramountenergy.com/investor_relations/AEUB_Gas_Bitumen bitumen (bĭty  `mən) a generic term referring to flammable, brown or black mixtures of tarlike hydrocarbons, derived naturally or by distillation from petroleum. .
Paramount Energy Trust is a natural gas-focussed Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. energy trust. PET's Trust Units are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol "PMT.UN". Further information with respect to PET can be found at its website at www.paramountenergy.com. This news release contains forward-looking information. These forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are based on certain assumptions that involve a number of risks and uncertainties and are not guarantees of future performance. Actual results could differ materially as a result of changes in PET's plans, changes in commodity prices, regulatory changes, general economic, market and business conditions as well as production, development and operating performance and other risks associated with oil and gas operations. There is no guarantee by PET that actual results achieved will be the same as those forecast herein. Paramount Energy Operating Corp, administrator of Paramount Energy Trust Suite 500, 630 - 4 Avenue SW Calgary, AB T2P 0J9 The Toronto Stock Exchange has neither approved nor disapproved the information contained herein. |
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