Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA -- (Marketwired) -- 07/02/15 -- Bonavista Energy Corporation ("Bonavista") is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.32739 to 1.33399. This increase will be effective on July 15, 2015 (the "Effective Date").

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

----------------------------------------------------------------------------
                                   Five day
                                   Weighted
                                    Average
                                    Trading
                                   Price of             Effective
                                  Bonavista               Date of
                                     common                   the   Exchange
Record                 Bonavista     shares   Increase   increase   Ratio as
Date of       Opening   Dividend  (Prior to         in         in     of the
Bonavista    Exchange per common the end of   Exchange   Exchange  Effective
Dividend        Ratio      share the Month)  Ratio (1)      Ratio       Date
----------------------------------------------------------------------------
June 30,                                                 July 15,
2015          1.32739     $0.035      $7.04    0.00660       2015    1.33399
----------------------------------------------------------------------------

(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 310, 606 - 4th Street S.W., Calgary, Alberta, T2P 1T1.

Please visit our website at www.bonavistaenergy.com 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.

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

Berk Sumen
Manager, Investor Relations
(403) 213-4300
www.bonavistaenergy.com

Source: Bonavista Energy Corporation

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