Bonavista Energy Trust Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwire - July 2, 2010) - Bonavista Energy Trust (TSX:BNP.UN) is pleased to announce the increase to the Exchange Ratio of the Exchangeable Shares of Bonavista Petroleum Ltd. from 2.30481 to 2.32051. This increase will be effective on July 15, 2010.

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

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                                      Five day                              
                                      Weighted                              
                                       Average           Effective          
                                       Trading             Date of          
                                      Price of                 the  Exchange
Record Date               Bonavista     BNP.UN  Increase  Increase  Ratio as
of Bonavista  Opening  Energy Trust  (Prior to        in        in        of
Energy Trust Exchange  Distribution the end of  Exchange  Exchange Effective
Distribution    Ratio      per Unit  the Month) Ratio (1)    Ratio      Date
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  June 30,                                                July 15,          
    2010      2.30481         $0.16     $23.49   0.01570      2010   2.32051
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 1.The increase in the Exchange Ratio is calculated by multiplying the      
   Bonavista Energy Trust Distribution per Unit by the Exchange Ratio       
   immediately prior to the Record Date and dividing by the five day        
   weighted average trading price of BNP.UN.                                

A holder of Bonavista Petroleum Ltd. Exchangeable Shares can exchange all or a portion of their holdings into Bonavista Energy Trust Units, 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.