New Issue: Viking Energy C$75 million convertible debentures yield 10.5%

New York, Dec. 19 - Viking Energy Royalty Trust sold C$75 million of convertible extendible unsecured subordinated debentures in a bought deal financing.

The issue was priced to yield 10.5% and converts into Viking's trust units at C$7.25 per unit.

Lead manager for the offering was Scotia Capital.

The Calgary, Alta. company will use proceeds to help finance its acquisition of KeyWest Energy Corp. for C$320 million, to reduce bank debt and for general corporate purposes.

The securities were only offered in Canada.

Issuer:	Viking Energy Royalty Trust
Issue:	Convertible extendible unsecured subordinated debentures
Amount:	C$75 million
Maturity:	April 30, 2003, automatically extending to Jan. 31, 2008 on closing of acquisition
Coupon:	10.5%
Conversion price:	C$7.25
Lead manager:	Scotia Capital
Co-managers:	CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc. and Raymond James Ltd.
Pricing date:	Dec. 18
Settlement:	Jan. 15, 2003

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