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What do you think about the article, “Pengrowth Energy Trust Announces Changes to Value Creation Strategy …”?

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What do you think about the article, “Pengrowth Energy Trust Announces Changes to Value Creation Strategy …”?

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Pengrowth Energy Trust Announces Changes to Value Creation Strategy and Declares November Distribution Based Upon Capital Priorities CALGARY, ALBERTA–(Marketwire – Oct. 1, 2009) – Pengrowth Corporation administrator of Pengrowth Energy Trust (collectively “Pengrowth”) (TSX:PGF.UN) (NYSE:PGH) today announced changes to its value creation strategy that focus on investing a larger percentage of cash flow on operated, low cost, low risk, repeatable drilling opportunities in the Western Canadian Sedimentary Basin (“WCSB”). The following are some of the key changes that will be implemented to Pengrowth’s value creation strategy: – Shifting internal capital expenditures on Pengrowth’s existing high quality asset base to focus on existing low cost, low risk plays (Carson Creek, Shallow Gas, Coalbed Methane (“CBM”)) as well as to identify, test and develop other resource plays where repeatable, predictable and scalable results can be achieved. – Increasing capital expenditures as a percentage

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Pengrowth Corporation administrator of Pengrowth Energy Trust (collectively “Pengrowth”) today announced changes to its value creation strategy that focus on investing a larger percentage of cash flow on operated, low cost, low risk, repeatable drilling opportunities in the Western Canadian Sedimentary Basin (“WCSB”). These changes resulted from Pengrowth’s strategic review of the best opportunities for value creation on its existing asset base and a broader review of unconventional value creation opportunities in the WCSB. Pengrowth is confident that its team’s demonstrated capability to create value, combined with higher levels of capital spending will unlock additional value for unitholders. The move to a more sustainable entity allows Pengrowth to re-invest in a cost effective manner on its short and long term, lower decline, low risk inventory of projects which will support a more consistent and sustainable level of distributions going forward.