CALGARY, Nov. 14 /CNW/ - Bonterra Oil & Gas Ltd. (successor to Bonterra
Energy Income Trust) (www.bonterraenergy.com) is pleased to announce its
dividend to holders of common shares for the month of October 2008. The record
date for the dividend is November 24, 2008, and the ex-dividend date is
November 20, 2008.
    The dividend will be paid on November 28, 2008. The amount of the
dividend will be $0.26 per common share as previously disclosed in the press
release dated November 6, 2008. As the previously announced Plan of
Arrangement closed on November 12, 2008, the payment is a dividend to
shareholders and accordingly, no further distributions will be made to
unitholders of Bonterra Energy Income Trust. Any unitholder who has traded
units ex-distribution prior to the issuance of this press release is invited
to contact Bonterra for further information
    The dividend is considered an "eligible dividend" for tax purposes.
    In addition, further to the press release dated November 12, 2008,
pursuant to articles of reorganization which were filed in connection with a
Plan of Compromise and Arrangement under the Companies' Creditors Arrangement
Act (Canada) and the Canada Business Corporations Act, the former common
shares of SRX Post Holdings Inc. (the predecessor name to Bonterra Oil & Gas
Ltd.) were converted into Class A redeemable preferred shares on November 12,
2008. These Class A redeemable preferred shares may be redeemed and cancelled
by Bonterra Oil & Gas Ltd. for no consideration.

    Bonterra Oil & Gas Ltd. is a conventional oil and gas corporation with
operations in Alberta and Saskatchewan. The common shares will not be listed
and trading until the opening of trading on the TSX on Tuesday, November 18,
2008 under the symbol "BNE" and will be listed in substitution of the units of
Bonterra Energy Income Trust.