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Silverwing Energy Inc & Bonterra Energy Income Trust	Update Date: 11/25/08
Date Announced: 08/15/08
Value (million $USD): 13.3 million U.S. Dollar 14.1 million Canadian Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	08/15/08
Date Originally Announced	08/15/08
Format	Merger	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	Unspecified Regulatory Auth.
Value	13.3 million U.S. Dollar 14.1 million Canadian Dollar	Advisor Fees	n/a

SYNOPSIS

CANADA - Bonterra Energy Income Trust (BE) acquired all the outstanding common stock of Silverwing Energy Inc (SE), an oil and gas exploration and production company, for 14.105 mil Canadian dollars ($13.319 mil US). BE offered a choice of C$0.075 ($0.071) in cash or 0.00226 unit per SE share. The transaction had been subject to customary closing conditions, due diligence completion and was approved by regulatory authorities.

TARGET
Name	Silverwing Energy Inc (Toronto : SVW)
Industries	Drilling oil and gas wells; Oil and gas field exploration services
City	Calgary
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Public
Business Description	Silverwing Energy Inc, located in Calgary, Alberta, is an oil and gas exploration and production company focused on the medium-depth wells located in the Western Canada Sedimentary Basin in Alberta and northeastern British Columbia. The company was founded in May 28, 2002.
Advisors	NULL
Target Sales	11.9 million U.S. Dollar 12.2 million Canadian Dollar

ACQUIROR
Name	Bonterra Energy Income Trust (TSXVenture : BNE.UN)
Industries	Drilling oil and gas wells; Oil and gas field exploration services; Offices of holding companies, nec
City	Calgary
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Public
Business Description	Bonterra Energy Income Trust, headquartered in Calgary, Albeta, is an oil and gas exploration and production company that operates in the provinces of Alberta and Saskatchewan. The company holds interest in Pembina Area, west central Alberta, Dodsland Area, in southwest Saskatchewan and Shaunavon Area located in southwest Saskatchewan. It also functions as a holding company.
Advisors	NULL
Acquiror Sales	97.0 million U.S. Dollar 99.0 million Canadian Dollar

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