/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 12/01/15 -- Bonavista Energy Corporation ("Bonavista") (TSX: BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.38740 to 1.39313. This increase will be effective on December 15, 2015 (the "Effective Date").

The following are the details of the calculation of the Exchange Ratio:

----------------------------------------------------------------------------
                                Five day
                                Weighted
                                 Average
                                 Trading
                                Price of
                               Bonavista
                                  common
                     Bonavista    shares               Effective    Exchange
Record                Dividend (Prior to             Date of the Ratio as of
Date of      Opening       per   the end Increase in increase in         the
Bonavista   Exchange    common    of the    Exchange    Exchange   Effective
Dividend       Ratio     share    Month)   Ratio (1)       Ratio        Date
----------------------------------------------------------------------------
November                                            December 15,
 30, 2015    1.38740     $0.01     $2.42     0.00573        2015     1.39313
----------------------------------------------------------------------------

(1) The increase in the Exchange Ratio is calculated by multiplying the
Bonavista dividend per common share by the Exchange Ratio immediately prior
to the Record Date and dividing by the five day weighted average trading
price of Bonavista's common shares.

A holder of Bonavista exchangeable shares can exchange all or a portion of their holdings into Bonavista common shares, at any time, by giving notice to their investment advisor or Computershare at its principal transfer office in Suite 600, 530 - 8th Avenue S.W., Calgary, Alberta, T2P 3S8.

Please visit our website at www.bonavistaenergy.com for detailed corporate information.

Bonavista is a mid-sized dividend paying energy corporation focused on the efficient development of high quality oil and natural gas assets while providing sustainable value to shareholders.

Contacts:
Bonavista Energy Corporation
Dean M. Kobelka
Vice President, Finance & CFO
(403) 213-4300

Berk Sumen
Manager, Investor Relations
(403) 213-4300
www.bonavistaenergy.com

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