EXHIBIT 99.16
-------------
- --------------------------------------------------------------------------------
[GRAPHIC OMITTED]
[ADVANTAGE LOGO OMITTED]
- --------------------------------------------------------------------------------
ADVANTAGE ENERGY INCOME FUND - NEWS RELEASE
JULY 11, 2005
ADVANTAGE ANNOUNCES DISTRIBUTION OF CDN$0.25 PER UNIT &
THE ADJUSTED EXCHANGEABLE SHARES RATIO
(TSX: AVN.UN)
- --------------------------------------------------------------------------------
CALGARY, ALBERTA - July 11, 2005 - Advantage Energy Income Fund ("Advantage")
announces that the cash distribution for the month of July 2005 will be Cdn$0.25
per Unit. The current monthly distribution represents an annualized yield of
16.9% based on the July 8, 2005 closing price of Cdn$17.72 per Unit.
The distribution will be payable on August 15, 2005 to Unitholders of record at
the close of business on July 29, 2005. The ex-distribution date is July 27,
2005. The cash distribution is based on approximately 57.3 million Units
currently outstanding.
Advantage also announces an increase to the Exchange Ratio of the Exchangeable
Shares of Advantage Oil & Gas Ltd. ("AOG") from 1.08317 to 1.09872. This
increase will be effective on July 15, 2005. There are currently 110,416
Exchangeable Shares outstanding. The Exchangeable Shares are not publicly
traded. However, holders of AOG Exchangeable Shares can exchange all or a
portion of their holdings at any time by giving notice to their investment
advisor or AOG's transfer agent, Computershare Trust Company of Canada at 600,
530 - 8th Avenue SW, Calgary, Alberta, T2P 3S8 (Telephone: 403-267-6800) or 100
University Avenue, 11th Floor, Toronto, Ontario, M5J 2Y1 (Telephone:
416-263-9200).
For further information please contact:
Mr. Gary F. Bourgeois, VP
Corporate Development Phone:
(416) 945-6636
TOLL FREE: 1-866-393-0393
ADVANTAGE ENERGY INCOME FUND
3100, 150 - 6th Avenue SW
Calgary, Alberta T2P 3Y7
Phone: (403) 261-8810
Fax: (403) 262-0723
Web Site: www.advantageincome.com
E-mail: advantage@advantageincome.com
The information in this news release may contain certain forward-looking
statements that involve substantial known and unknown risks and uncertainties,
certain of which are beyond Advantage's control, including: the impact of
general economic conditions, industry conditions, changes in laws and
regulations including the adoption of new environmental laws and regulations and
changes in how they are interpreted and enforced, increased competition,
fluctuations in commodity prices and foreign exchange and interest rates, stock
market volatility and obtaining required approvals of regulatory authorities.
Advantage's actual results, performance or achievement could differ materially
from those expressed in, or implied by, such forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur or, if any of them do,
what benefits that Advantage will derive from them.