PERPETUAL ENERGY INC. CONFIRMS JULY 2010 DIVIDEND
AND UPDATES HEDGING
Calgary, Alberta – July 12, 2010 (TSX: PMT) – Perpetual Energy Inc. (“Perpetual” or the “Corporation”) is
pleased to confirm that its dividend to be paid on August 16, 2010 in respect of income received by Perpetual for
the month of July 2010, for shareholders of record on July 22, 2010, will be $0.05 per share. The ex-dividend
date is July 20, 2010. The July 2010 dividend brings cumulative dividends (including distributions paid since the
inception of Perpetual’s predecessor, Paramount Energy Trust) to $14.114 per share.
Gas Price Management
Perpetual is an active manager of its natural gas price risk. Natural gas prices in North America have weakened
considerably early in 2010. The Corporation remains cautious with respect to near term natural gas prices as
impacted by strong supply from shale gas plays in the United States, increased LNG supply, weak industrial gas
demand due to the economic recession and recent strength in the Canadian dollar. Perpetual closely monitors the
market drivers with respect to natural gas prices and will continue to proactively manage the Corporation’s
forward price exposure to meet Perpetual’s strategy of protecting the level of the Corporation’s monthly
dividends and managing the balance sheet, enhancing or protecting the economics of acquisitions and capital
programs, and capitalizing on perceived market anomalies.
To date in 2010, Perpetual has realized hedging gains of $79.6 million through the settlement and crystallization of
forward positions. The current mark-to-market value of Perpetual’s net open hedging transactions is
approximately $52.6 million.
Perpetual’s financial and physical natural gas forward sales arrangements at July 12, 2010 are as follows:
Additional “call” option contracts outstanding are as presented in management’s discussion and analysis (“MD&A”).
Futures price reflects forward market prices as at July 12, 2010