CALGARY, ALBERTA--(Marketwired - Oct. 1, 2015) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.35652 to 1.37108. This increase will be effective on October 15, 2015 (the "Effective Date").

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

Date of


Dividend per
common share
Five day
Weighted Average
Trading Price of
Bonavista common
(Prior to the
end of
the Month)

Increase in
Ratio (1)

Effective Date
of the increase
in Exchange

Exchange Ratio
as of the
Effective Date
September 30, 2015 1.35652 $0.035 $3.26 0.01456 October 15, 2015 1.37108
(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.

A holder 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 600, 530 - 8th Avenue S.W., Calgary, Alberta, T2P 3S8.

Please visit our website at for detailed corporate information.

Bonavista is a mid-sized energy corporation committed to maintaining its emphasis on operating high quality oil and natural gas properties, providing a balance of growth and income to our shareholders while ensuring financial strength and sustainability.

Contact Information:

Bonavista Energy Corporation
Dean M. Kobelka
Vice President, Finance & CFO
(403) 213-4300

Bonavista Energy Corporation
Berk Sumen
Manager, Investor Relations
(403) 213-4300