EXHIBIT 99.48
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ADVANTAGE ENERGY INCOME FUND - NEWS RELEASE
FEBRUARY 14, 2005
ADVANTAGE ANNOUNCES MONTHLY DISTRIBUTION OF CDN$0.28 PER UNIT &
THE ADJUSTED EXCHANGEABLE SHARES RATIO
(TSX: AVN.UN)
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CALGARY, ALBERTA - Feb. 14, 2005 - Advantage Energy Income Fund ("Advantage")
(AVN.UN TSX) is pleased to announce that the cash distribution for the month of
February 2005 will be Cdn$0.28 per Unit. The current monthly distribution
represents an annualized yield of 15.5% based on the February 11, 2005 closing
price of Cdn$21.68 per Unit.
The distribution will be payable on March 15, 2005 to Unitholders of record at
the close of business on February 28, 2005. The ex-distribution date is February
24, 2005. The cash distribution is based on approximately 51.3 million Units
currently outstanding.
Advantage also announces an increase to the Exchange Ratio of the Exchangeable
Shares of Advantage Oil & Gas Ltd. ("AOG") from 1.01125 to 1.02418. This
increase will be effective on February 15, 2005.
As part of the Plan of Arrangement with Defiant Energy Corporation which closed
on December 21, 2004, AOG issued 1,450,030 Exchangeable Shares which are
exchangeable into Advantage Trust Units at a ratio that adjusts each month on
the distribution payment date. There are currently 638,171 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).
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.
For further information 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