Whitecap Resources Inc. confirms monthly dividend for March of $0.0625 per share

CALGARY , March 16, 2015 /CNW/ - Whitecap Resources Inc. (TSX: WCP) is pleased to announce that a cash dividend of Cdn. $0.0625 per common share in respect of March operations will be paid on April 15, 2015 to shareholders of record on March 31, 2015 . This dividend is an eligible dividend for the purposes of the Income Tax Act ( Canada ).

Whitecap Resources Inc. is a dividend paying, oil-weighted company focused on providing sustainable monthly dividends to its shareholders and per share growth through a combination of accretive oil-based acquisitions and organic growth on existing and acquired assets. For further information about Whitecap please visit our website at www.wcap.ca .

SOURCE Whitecap Resources Inc.

Tesco Corporation to File Form 12b-25 with Securities and Exchange Commission

HOUSTON , March 16, 2015 /CNW/ -- Tesco Corporation (NASDAQ: TESO) ("TESCO" or the "Company") announced today that it will file a Form 12b-25 Notification of Late Filing with the U.S. Securities and Exchange Commission with regard to its Annual Report on Form 10-K for the year ended December 31, 2014 . The filing provides the Company with an additional 15 calendar days to file its Form 10-K. While the Company believes that it will file by the extended deadline, there can be no assurance that the Company will meet this extended filing deadline.

The Company was unable to file its Form 10-K by the March 16, 2015 deadline as a result of the identification of out-of-period adjustments and the consequential need for the Company to complete certain related analysis. The majority of these charges relate to foreign exchange calculations, indirect tax balances and tax reserves for certain prior intercompany transactions and balances.

Based on the analysis completed to date, the Company believes that the total net adjustments are immaterial to any given prior year but the effect of making all adjustments in the current year is material. TESCO is also evaluating the effectiveness of its internal controls over financial reporting, as required under the provisions of Section 404 of the Sarbanes-Oxley Act of 2002. During the course of this evaluation, the Company may conclude it has identified material weaknesses in the effectiveness of certain internal controls over financial reporting.

In order to file its Annual Report on Form 10-K by March 31 , the Company must complete its documentation and assessment of internal controls. In addition, the Company's current auditor for 2014, Ernst & Young LLP, will need to complete its current year audit and the Company's prior auditor for the years 2011-2013, PricewaterhouseCoopers LLP, will need to complete its review process in order provide its consent to adjust the prior year financial statements

ABOUT TESCO CORPORATION

Tesco Corporation is a global leader in the design, manufacture and service of technology based solutions for the upstream energy industry. Tesco Corporation seeks to change the way people drill wells by delivering safer and more efficient solutions that add real value by reducing the costs of drilling for and producing oil and gas.

For more information please contact:
Chris Boone – Chief Financial Officer
Tesco Corporation
(713) 359-7000

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/tesco-corporation-to-file-form-12b-25-with-securities-and-exchange-commission-300051134.html

SOURCE Tesco Corporation

CALGARY , March 16, 2015 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or the "Company") announces that Sveinung Svarte has tendered his resignation from the Board of Directors effective March 16, 2015 . The Company and its Board thanks Mr. Svarte for his valuable contributions and wish him well in his future endeavours.

About Athabasca Oil Corporation

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca's common shares trade on the TSX under the symbol "ATH". For more information, visit www.atha.com .

SOURCE Athabasca Oil Corporation

CALGARY , March 16, 2015 /CNW/ - ( ARX - TSX) ARC Resources Ltd. ("ARC") confirms that a dividend of $0.10 per share designated as an eligible dividend will be paid on April 15, 2015 to shareholders of record on March 31 , 2015.  The ex-dividend date is March 27 , 2015.  As at March 16, 2015 the trailing twelve-month payments to investors, including the April 16, 2015 payment, total $1.20 per share.

ARC offers a Dividend Reinvestment Plan ("DRIP") and Stock Dividend Program ("SDP") as optional plans for its shareholders. The DRIP provides the option for Canadian holders of ARC common shares to have their cash dividends reinvested into additional common shares of ARC. The SDP provides the option for shareholders to receive dividends in the form of common shares of ARC in lieu of receiving a cash dividend on the dividend payment date. Common shares issued under the DRIP and SDP are issued at a three per cent discount to the prevailing market price with no broker fees or commissions. Participation in the DRIP and/or SDP is optional; shareholders who do not wish to participate in either plan will continue to receive cash dividends.  Additional information on the DRIP and SDP including the Dividend Reinvestment/Stock Dividend Enrollment Form can be found on the company's website at www.arcresources.com/ or by contacting your financial institution or investment advisor.  The availability of the SDP and DRIP and the respective terms and conditions are subject to the discretion of ARC's management and the Board of Directors.

ARC is one of Canada's largest conventional oil and gas companies with an enterprise value of approximately $8.5 billion .  ARC's common shares trade on the TSX under the symbol ARX.

ADVISORY - In the interests of providing ARC shareholders and potential investors with information regarding ARC, including management's assessment of ARC's future plans and operations, certain information contained in this document are forward-looking statements within the meaning of the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, including those risks and uncertainties contained in ARC Resources Ltd.'s Annual Information Form filed at www.sedar.com , which may cause ARC's actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements.

ARC RESOURCES LTD.

Myron M. Stadnyk
President and Chief Executive Officer

SOURCE ARC Resources Ltd.

Toscana Energy Confirms March Dividend

CALGARY , March 16, 2015 /CNW/ - Toscana Energy Income Corporation ("Toscana Energy" or the "Company") (TSX: TEI) confirms the cash dividend of $0.135 per common share (or the equivalent of $0.405 per common share on a quarterly basis) of the Company (" Common Share ") to be paid on April 15, 2015 in respect of March 2015 production of the Company for shareholders of record on March 31, 2015.  The ex-dividend date is March 27 , 2015.  Once paid, total cash dividends distributed by the Company to holders of Common Shares during the 2015 calendar year will be $0.405 per Common Share.  This dividend is an eligible dividend for purposes of the Income Tax Act ( Canada ).

About Toscana Energy Income Corporation

Toscana Energy is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.  Toscana Energy is managed by Sprott Toscana through Toscana Energy Corporation. Sprott Toscana is a member of the Sprott Group of Companies.

SOURCE Toscana Energy Income Corporation

Vermilion Energy Inc. announces $0.215 CDN cash dividend for April 15, 2015 payment date

CALGARY , March 16, 2015 /CNW/ - Vermilion Energy Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce a cash dividend of $0.215 CDN per share payable on April 15, 2015 to all shareholders of record on March 31 , 2015.  The ex-dividend date for this payment is March 27 , 2015.  This dividend is an eligible dividend for the purposes of the Income Tax Act ( Canada ).

As a reminder to Eligible Shareholders, the newly introduced Premium Dividend™ Component of our Premium Dividend™ and Dividend Reinvestment Plan (the "Plan") is effective for this March dividend payable on April 15, 2015 .  Under the new Plan, Eligible Shareholders retain the option, under the Dividend Reinvestment Component, to reinvest their dividends in shares at an effective discount of 3% to the Average Market Price.  With the addition of the new Premium Dividend™ Component, Eligible Shareholders are offered the alternative option of receiving a premium cash payment equal to 101.5% of the reinvested dividends.  Shareholders who have not elected, or are not eligible to participate in the Plan will continue to receive their regular cash dividends in the usual manner.

To effect enrollment and participate in the Plan for the March dividend, a duly completed enrollment form must be received by Computershare Trust Company of Canada prior to 3:00 pm MST on March 24 , 2015.  A registered Eligible Shareholder who was enrolled in the Previous DRIP will automatically be deemed to be a participant in the Dividend Reinvestment Component of the Plan, without any further action on their part. Beneficial owners of common shares (i.e., a holder of common shares that are not registered in the beneficial owner's name but are instead held through a broker, investment dealer, financial institution or other nominee) are encouraged to contact their nominee holder to confirm enrollment and participation in either  the Dividend Reinvestment Component or the Premium Dividend™ Component of the Plan as procedures for enrollment and participation may vary.

For more information on the Plan, defined meanings for capitalized terms above, eligibility restrictions and enrollment information and forms, among other details of the Plan, please refer to the complete copy of the Plan as well as a related series of Questions and Answers available on Vermilion's website at www.vermilionenergy.com (under the heading "Investor Relations" subheading "DRIP").

Vermilion is an oil-leveraged producer that seeks to create value through the acquisition, exploration, development and optimization of producing properties in North America , Europe and Australia . Our business model targets annual organic production growth of 5% or more along with providing reliable and increasing dividends to investors.  Vermilion is targeting growth in production primarily through the exploitation of light oil and liquids-rich natural gas conventional resource plays in Canada and the United States , the exploration and development of high impact natural gas opportunities in the Netherlands and Germany , and through drilling and workover programs in France and Australia.  Vermilion also holds an 18.5% working interest in the Corrib gas field in Ireland.  Vermilion pays a monthly dividend of Canadian $0.215 per share, which provides a current yield of approximately 5%.  Management and directors of Vermilion hold approximately 6% of the outstanding shares, are committed to consistently delivering superior rewards for all stakeholders, and have delivered a 20-year history of market outperformance.  Vermilion trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol VET.

SOURCE Vermilion Energy Inc.

Twin Butte Energy Confirms March Dividend Payment

CALGARY , March 16, 2015 /CNW/ - Twin Butte Energy Ltd. (TSX:TBE) (" Twin Butte ") confirms that its cash dividend in respect of March 2015 production will be $0.01 per share. The eligible dividend will be paid on April 15, 2015 to shareholders of record on March 31, 2015 . The ex-dividend date is March 27, 2015 . These dividends are designated as "eligible dividends" for Canadian income tax purposes.

As stated in Twin Butte's December 18, 2014 press release, commencing with the January 2015 dividend payable on February 17, 2015 , Twin Butte's Dividend Reinvestment Plan (" DRIP ") and Stock Dividend Plan (" SDP ") will be suspended until further notice. Shareholders who had elected to participate in the DRIP or SDP will receive cash dividends on the payment date. Registered shareholders that were enrolled in the DRIP and SDP when the plans are suspended will remain enrolled at reinstatement and will automatically resume participation in the DRIP and SDP if, and when, the DRIP and SDP are reinstated.

About Twin Butte:

Twin Butte Energy Ltd. is a dividend paying value oriented intermediate producer with a significant low risk, high rate of return drilling inventory focused on large original oil in place, play types. Twin Butte provides shareholders with a monthly dividend along with growth potential over the long term. Twin Butte is committed to continually enhance its asset quality while focusing on the sustainability of its dividend.  The common shares of Twin Butte are listed on the TSX under the symbol "TBE".

SOURCE Twin Butte Energy Ltd.

Valener announces the live broadcast of its annual meeting of shareholders

MONTREAL , March 16, 2015 /CNW Telbec/ - Valener Inc. ("Valener") (TSX: VNR), the public investment vehicle in Gaz Métro Limited Partnership (Gaz Métro), will holdits annual meeting of shareholders on March  24, 2015 at 10:00 a.m. (Montréal time) at Sofitel, 1155 Sherbrooke Street West, Room Monet Chagall, Montréal (Québec).

The annual meeting agenda includes the election of directors and appointment of the independent external auditor.

Shareholders, media and other interested parties who are unable to attend the meeting are invited to listen to a live webcast on Valener's website ( www.valener.com ) in the "Investors" section under "Events and presentations". A recording will also be available for 90 days after the meeting.

About Valener

Valener is a public company that is 100% owned by the public investor and serves as the investment vehicle in Gaz Métro. Through its investment in Gaz Métro, Valener offers its shareholders a solid investment in a diversified and largely regulated energy portfolio in Quebec and Vermont . As a strategic partner, Valener, on one hand, contributes to Gaz Métro's growth, and on the other hand invests in wind power production in Quebec together with Gaz Métro. Valener favours energy sources and uses that are innovative, clean, competitive and profitable. Valener's common shares and preferred shares are listed on the Toronto Stock Exchange under the "VNR" trading symbol for common shares and under the "VNR.PR.A" symbol for Series A preferred shares. www.valener.com

SOURCE Valener Inc.

Parallel Energy Trust Announces Fourth Quarter and Year-End 2014 Financial Results; the 2014 Year-End Reserve Report; a Production Update; and Confirms its March Distribution

CALGARY , March 16, 2015 /CNW/ - Parallel Energy Trust ("Parallel" or the "Trust") is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2014 , and provides a summary of its 2014 year-end reserve report. Parallel's audited year-end financial statements and accompanying Management's Discussion and Analysis ("MD&A") will be filed shortly on the SEDAR website at www.sedar.com and on the Trust's website at www.parallelenergy.ca .

Summary of 2014 Financial and Operating Results

($000s, except where indicated)

Quarter Ended
Dec. 31, 2014

Quarter Ended
Dec. 31, 2013

Year Ended
Dec. 31, 2014

Year Ended
Dec. 31, 2013

Production

Natural gas (mcf/day)

14,174

14,842

14,577

14,594

Condensate (bbls/day)

1,760

1,803

1,673

1,715

Natural Gas Liquids (bbls/day)

2,988

2,943

2,980

3,000

Total (@6:1) (boe/day)

7,110

7,220

7,083

7,147

Average sales price (US$ per boe)

33.61

44.49

44.05

42.62

Revenue, net of royalties

15,559

25,274

102,230

93,430

Funds from operations (1)

8,931

11,306

43,521

41,964

Net income (loss)

(182,856)

9,912

(175,155)

10,088

Distributions

6,925

8,028

31,309

31,862

Capital expenditures excluding acquisitions

1,717

729

17,437

11,367

Bank debt outstanding (US$)

156,000

154,039

156,000

154,039

Convertible debentures (CAD$)

63,000

63,000

63,000

63,000

Unitholder's equity

117,465

286,481

117,465

286,481

(1)

Non-GAAP measure. Readers are referred to Advisories at the end of the press release for additional information.

Fourth Quarter 2014 Financial and Operating Highlights

  • Recorded average daily production of 7,110 boe/day (67% natural gas liquids and condensate), down 2% compared to production of 7,220 boe/day in the fourth quarter of 2013. Quarterly production levels were within the Trust's expectations.
  • Generated funds from operations of $8.9 million ( $0.16 per unit, basic), a 21% decrease compared to $11.3 million funds from operations in the fourth quarter of 2013. Lower funds from operations were primarily due to the decline in commodity prices in the fourth quarter of 2014.
  • Recorded a net impairment of $185.2 million on Parallel's oil and gas assets which was solely due to lower forecasted commodity prices and an increase in the discount rate used to calculate the amount of impairment to 12%, compared to 10% in 2013.
  • Reduced bank debt by approximately US$1.6 million . This resulted in total bank debt of US$156.0 million drawn against the Trust's borrowing base of US$190.0 million .
  • Declared total distributions of $0.125 per unit during the quarter, representing $0.05 per unit per month for October and November, and $0.025 per unit for December.

2014 Year-End Financial and Operating Highlights

  • Recorded annual average daily production of 7,083 boe/day, which was consistent with Parallel's full year production guidance of 7,100 to 7,300 boe/day and Parallel's strategic goal to maintain flat year-over-year production levels in 2014.
  • Generated funds from operations of $43.5 million ( $0.80 per unit, basic), up 4% compared to $42.0 million funds from operations in 2013. Full year 2014 funds from operations was below the Trust's expectations of $46 million due to the decline in commodity prices in the fourth quarter of 2014.
  • Drilled and completed a total of 14 gross wells (13.2 net wells) in the Texas and Oklahoma operating areas. The average 30 day initial production ("IP30") rate for the wells drilled in 2014 was 60 boe/day, which exceeded the Trust's expected IP30 rate of 35 to 40 boe/day. Parallel's 2014 drilling program resulted in drilling efficiencies of approximately US$13,000 per flowing boe/day, which exceeded the Trust's drilling efficiency expectations of US$20,000 per flowing boe/day.
  • Completed the acquisition of additional interest in the Cargray operating area as well as the acquisition of an average 23% working interest in eight producing wells in the Garfield County, Oklahoma operating area.
  • Declared total distributions of $0.575 per unit during the year.

2014 Year End Reserve Report

The following information is provided on the Trust's reserves as at December 31, 2014 , as evaluated by the Trust's independent reserves engineering firm, Ryder Scott . The evaluation of Parallel's petroleum and natural gas reserves was conducted pursuant to National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities – ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH") reserves definitions.

2014 Reserves Summary

(Company interest before royalties – December 31, 2014 )

2014

Total Oil Equivalent
(mboe)

%

2013

Total Oil Equivalent
(mboe)

%

Proved developed producing (PDP)

32,306

67

32,985

67

Proved undeveloped

8,366

18

9,521

19

Total proved

40,672

85

42,506

86

Probable

7,029

15

6,994

14

Total proved plus probable (P+P)

47,701

100

49,500

100

Net Present Value of Future Revenue

(Company interest – December 31, 2014 escalated price forecast)

(US$000s)

0%

5%

10%

15%

PDP

588,779

389,188

280,534

215,328

Proved undeveloped

104,827

50,076

22,535

7,705

Total proved

693,606

439,264

303,070

223,033

Probable

149,386

82,256

49,648

32,086

Total P+P

842,992

521,520

352,717

255,119

CAD/US Exchange Rate at Dec. 31, 2014

1.1601

1.1601

1.1601

1.1601

Total P+P (C$000s)

977,955

605,015

409,187

295,963

Reconciliations of Changes in Reserves

The following table sets out a reconciliation of the changes in total company working interest reserve volumes as at December 31, 2014 against such reserves as at December 31, 2013 .

Proved

(mboe)

Probable

(mboe)

Proved Plus Probable

(mboe)

Opening balance at Dec. 31, 2013

42,506

6,994

49,500

Technical revisions

1,290

(42)

1,248

Discoveries

-

-

-

Acquisitions

160

-

160

Dispositions

-

-

-

Economic factors

(707)

77

(630)

Production

(2,577)

-

(2,577)

Closing balance at Dec. 31, 2014

40,672

7,029

47,701

2014 Year End Reserve Report Highlights

  • Positive technical revisions of proved plus probable reserves of 1.2 million boe, representing a replacement of approximately 50% of volumes produced during 2014, and was due to better than expected drilling results in 2014 and lower than expected decline rates on several wells.
  • Reserve life index of 13 years for proved developed producing reserves and 19 years for proved plus probable reserves based on the Trust's 2015 production guidance of 6,800 boe/day.
  • Approximately 140 gross potential drilling locations. The Trust's 2015 drilling program has been postponed until a sustained recovery in commodity prices is evident; however, the Trust retains multiple years of drilling inventory.

Financial Liquidity

Parallel's credit facility has no financial covenants; however, it is subject to a borrowing base valuation of the Trust's oil and gas assets which is reviewed every six months. Parallel's borrowing base of US$190 million was last reviewed and confirmed by the Trust's lenders in October 2014 . Since that time there has been a significant decline in commodity prices which is likely to result in a reduction to the amount of Parallel's borrowing base when it is reviewed in April 2015 . However, Parallel anticipates that the available amount of the facility will continue to be above expected usage of the facility and that the Trust will have sufficient liquidity to fund its operations.

Production Update

Based on field data, Parallel's production results for January and February of 2015 averaged 6,600 boe/day, which was below the Trust's expectations due to several winter storms experienced during the period. Parallel is now experiencing normal weather conditions and average production has increased to a level that is consistent with the Trust's production capacity of over 7,000 boe/day. Despite the lower than expected production results to date, the Trust retains its 2015 estimated annual average daily production rate of 6,800 boe/day, which assumes that no drilling is completed during the year.

President's Message – Rick Alexander , President & CEO

"In 2014, we marked the second consecutive year in which our production results were in line with our expectations. This is a notable achievement considering that our production was negatively impacted by winter weather conditions in both years. We have experienced similar weather-related production challenges in the first two months of 2015; however, our operating team has done an exceptional job of mitigating downtime and subsequently restoring our production levels in a timely manner."

"Our 2014 drilling program yielded the best initial production rates and drilling efficiencies in Parallel's history. This achievement reflects enhancements we have made to our drilling program, our improved ability to select drilling locations and a greater understanding of our assets. Notwithstanding the success of our 2014 drilling program, we previously announced that we have postponed our 2015 drilling program due to ongoing weaknesses in the commodity price environment. We plan to continuously assess market conditions to determine when to re-implement a drilling program."

"Our management team and Board have set three main goals for 2015. First, as previously communicated in our January 2015 press release, our primary goal in 2015 is to maintain a sustainable business model amid the currently weak commodity price environment. To achieve this, we plan to continuously evaluate our business throughout the year and, based on these evaluations, we will take any necessary steps to ensure that we are operating within our available cash flow. Our second goal is reduce our bank debt in 2015. Improving our financial flexibility is an important step to ensure the long-term success of our business and this will be one of our top priorities. Finally, our third goal is to continue to look for cost saving measures to reduce our combined year-over-year U.S. dollar operating and general and administrative expenses in 2015 by 10 to 15 per cent from 2014 levels."

Distribution

Parallel confirms that its cash distribution to be paid on April 23, 2015 , in respect of the period from and including March 1, 2015 to March 31, 2015 , to unitholders of record on March 31, 2015 will be $0.01 per trust unit. The ex-distribution date is March 27, 2015 .

The payment and the amount of distribution declared in any month will continue to be subject to the discretion of the Trust's Board and will depend on the Board's assessment of Parallel's production levels, capital expenditure requirements, funds from operation, debt position and the commodity price environment.

ABOUT PARALLEL ENERGY TRUST

Established in March 2011 , Parallel Energy Trust ("Parallel" or the "Trust") is a Calgary -based distribution-paying energy income trust. Parallel's assets and operations are located in the Mid-Continent Region of the United States and its portfolio consists of mature, liquids-rich natural gas assets. The Trust's business strategy is focused on acquiring and developing long-life, conventional oil and natural gas assets.

Parallel is considered to be a "mutual fund trust" under the Income Tax Act of Canada ; however, the Trust is not subject to specified investment flow through ("SIFT") trust taxes as all of its properties are held outside of Canada . Parallel's common units are traded on the Toronto Stock Exchange ("TSX") under the symbol "PLT.UN" and the Trust's debentures are traded on the TSX under the symbol "PLT.DB".

Additional information about Parallel can be found on the Trust's website at www.parallelenergy.ca or in Parallel's annual information form, available on SEDAR at www.sedar.com .

ADVISORIES

Forward-Looking Information

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Parallel, including, without limitation, those listed under "Risk Factors" in Parallel's annual information form dated March 21, 2014 (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, Parallel's objectives and status as a mutual fund trust and not a SIFT trust and Parallel's expectations and estimates regarding current and future production rates and drilling results. Parallel cautions investors in Parallel's securities about important factors that could cause Parallel's actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that the expectations set out in Parallel's final prospectus or herein will prove to be correct and accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and Parallel does not assume any obligation to update or revise them to reflect new events or circumstances.

In this news release, Parallel and its subsidiaries are referred to collectively as the "Trust" or "Parallel" for purposes of convenience.

Non-GAAP Measures

This press release contains the term "funds from operations". This term is not a recognized measure under Canadian generally accepted accounting principles (GAAP). Parallel believes that in addition to net income, funds from operations is a useful supplemental measurement. Funds from operations provides an indication of the funds generated by the Trust's principal business activities and is defined as "cash from operating activities" prior to workovers and "change in non-cash working capital related to operating activities" in the Statement of Cash Flows.

Oil and Gas Measures and Definitions

This press release contains disclosure expressed as "boe" and "boe/day". All oil and natural gas equivalency volumes have been derived using the ratio of six thousand cubic feet of natural gas to one barrel of oil. Equivalency measures may be misleading, particularly if used in isolation. A conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily.

SOURCE Parallel Energy Trust

PDF available at: http://stream1.newswire.ca/media/2015/03/16/20150316_C6717_PDF_EN_13251.pdf

JA Solar Supplies Modules Again to First Large-Scale Solar Farm in Central America

SHANGHAI , March 16, 2015 /CNW/ -- JA Solar Holdings Co., Ltd. (Nasdaq: JASO) ("JA Solar" or "JA"), one of the world's largest manufacturers of high-performance solar power products, today announced that it will supply 35.1 MW of modules to the second phase of a Guatemala solar farm.

The signing of the contract for phase II of the project for another 35.1MW of modules came after JA's successful delivery of 59.7MW to the first phase in 2014. As the largest solar farm in Central America and the second largest in the Latin American region, the Guatemala project requires modules of high reliability, high conversion efficiency and high power output.

Mr. Jian Xie , president of JA Solar, commented, "We are proud that our customers are satisfied with JA's high efficiency modules and chose us again for phase II of the project. Enough panels to cover an area the size of 300 football fields not only provides clean power to the people of Central America , but also opens a window for us in the local market. It is a new milestone in our efforts to expand globally into new markets and reflects our ever-growing global influence."

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/ja-solar-supplies-modules-again-to-first-large-scale-solar-farm-in-central-america-300050759.html

SOURCE JA Solar Holdings Co., Ltd.