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Bonterra Oil & Gas Ltd. (“BOGL”); (www.bonterraenergy.com) (TSX:BNE) is pleased to announce that it has amalgamated with its wholly owned subsidiary Bonterra  Energy Corp. (“BEC”) pursuant to the provisions of the Canada Business Corporations Act to continue as one corporation under the name “Bonterra Energy Corp.” effective January 1, 2010 (“New Bonterra”).

Prior to the amalgamation, Bonterra Energy Income Trust, a trust which was wholly owned by BOGL, was wound-up and dissolved in accordance with subsection 88.1 of the Income Tax Act (Canada). As a result of the amalgamation and dissolution of Bonterra Trust, New Bonterra holds all of the assets formerly held by BEC and Bonterra Trust.

The common shares of New Bonterra will trade under the symbol “BNE” and it is anticipated that they will continue to trade under the name “Bonterra Oil & Gas Ltd.” for three to four business days and thereafter will trade under the name “Bonterra Energy Corp.”.

 
For further information, please contact:
George F. Fink
Chairman and Chief Executive Officer
Garth E. Schultz
Vice President, Finance and Chief Financial Officer

Bonterra Energy Corp.
Suite 901, 1015 - 4th Street S.W.
Calgary Alberta T2R 1J4
Phone: (403) 262-5307
Fax: (403) 265-7488