Bonavista Energy Trust (TSX:BNP.UN) ("Bonavista") today revised the proposed
"Bonavista Energy Corporation - 2011 Stock Option Plan", as described in
Bonavista's Management Proxy Circular dated November 15, 2010. Having considered
a request from ISS Proxy Advisory Services ("ISS") to make a change to the plan
which is consistent with Bonavista's current policies and historical practice,
Bonavista Energy Corporation has agreed that it will not extend the term of any
stock option held by non-insiders without shareholder approval. This amendment
is subject to receipt of regulatory approval.


With this amendment, we understand that ISS will issue an updated alert whereby
they will recommend voting FOR the resolution to approve the Bonavista Energy
Corporation - 2011 Stock Option Plan. 


Bonavista Energy Trust is a mid-sized energy trust created through the
reorganization of Bonavista Petroleum Ltd. on July 2, 2003. Bonavista Energy
Trust is committed to maintaining its emphasis on operating high quality oil and
natural gas properties, providing moderate growth and delivering consistent
distributions to its unitholders while ensuring financial strength and
sustainability. Bonavista's trust units trade on the Toronto Stock Exchange
under the symbol BNP.UN.


Please visit our website at www.bonavistaenergy.com for detailed corporate
information.
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