Argent Energy Trust announce a bought deal equity offering for gross proceeds of approximately C$75 million, provide an operational update, announce the acquisition of certain oil producing assets and provide increased production guidance.

The Trust is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Scotiabank, CIBC and RBC Capital Markets, pursuant to which it will issue 7,360,000 trust units ("Trust Units") at a price of C$10.20 per Trust Unit on a bought deal basis for gross proceeds of approximately C$75 million (the "Offering").

The underwriters have also been granted an over-allotment option, exercisable for a period of 30 days from closing of the Offering, to purchase up to 1,104,000 additional Trust Units at a price of C$10.20 per Trust Unit. If the over-allotment option is fully exercised, gross proceeds from the Offering will be approximately C$86 million.

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