NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW.


Daylight Energy Ltd. (TSX:DAY.UN)(TSX:DAY) ("Daylight" or the "Corporation")
announced today that it has completed the previously announced plan of
arrangement (the "Arrangement") involving Daylight, 1519008 Alberta Ltd. and
Daylight Resources Trust (the "Trust"), pursuant to which, the Trust converted
into the Corporation.


Unitholders of the Trust voted 99.7% in favour of the Arrangement at the annual
and special meeting of unitholders held on May 6, 2010 (the "Meeting"). In
accordance with the terms of the Arrangement, former unitholders of the Trust
who have or will complete the letter of transmittal provided to such unitholders
will receive common shares of Daylight on a one-for-one basis. In addition, as
part of the Arrangement, the Trust was dissolved and the Corporation assumed all
of the existing liabilities of the Trust, including the Trust's convertible
debentures which are now convertible debentures of the Corporation. For further
information regarding Daylight's conversion to a Corporation, please refer to
the "Corporate Conversion Questions and Answers" section of our website at
www.daylightenergy.com.


It is anticipated that the Corporation's common shares will commence trading on
the Toronto Stock Exchange ("TSX") under the new trading symbol "DAY" on or
about May 12, 2010, and the Corporation's convertible debentures will continue
trading on the TSX under the symbols "DAY.DB.B", "DAY.DB.C" and "DAY.DB.D".


At the annual and special meeting of the Trust, unitholders also approved the
Share Award Incentive Plan of Daylight and appointed Messrs. Fred Woods, Anthony
Lambert, Dennis Chorney, Rick Orman, Gordon Stollery, Jeff Tonken, David Tuer
and Graham Wilson as directors of the Corporation.


Daylight is a growing intermediate oil, liquids rich natural gas and natural gas
producing company with a high quality suite of resource play assets in Western
Canada. Daylight's highly focused team utilizes technical expertise in
exploitation, development and acquisitions to create long-term value for
shareholders. The Daylight team has developed a multi-year inventory of
repeatable, low risk exploitation resource play projects with substantial
potential reserve additions on assets owned and controlled in the premier Deep
Basin area of Alberta and Northeast British Columbia. Daylight has approximately
175 million common shares currently outstanding which will trade on the TSX
under the symbol DAY. 


ADVISORY:

Forward-Looking Statements: Contained in this news release are forward-looking
statements. The reader is cautioned that these statements represent management's
expectations or beliefs concerning, among other things timing of the delisting
of the trust units and listing of the Daylight common shares on the TSX.
Although these assumptions are considered reasonable by Daylight at the time of
preparation, they may prove to be incorrect. Actual events or results may differ
materially. The projections, estimates and beliefs contained in such
forward-looking statements are based on management's opinions and assumptions at
the time the statements were made, and necessarily involve known and unknown
risks and uncertainties which may cause actual results to differ materially from
any projections of future results expressed or implied by such forward-looking
statements, including those material risks discussed in the Trust's information
circular and proxy statement dated April 7, 2010, and the Trust's Annual
Information Form and MD&A under "Risk Factors". Accordingly, readers are
cautioned that events or circumstances could cause results to differ materially
from those predicted. Daylight does not undertake to update any forward-looking
statements contained in this press release whether as to new information, future
events or otherwise except as required by securities rules and regulations.
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