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 November 2, 2015 - 7:13 PM EST
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Bonavista Energy Corporation Announces Increase to Exchangeable Share Ratio

CALGARY, ALBERTA--(Marketwired - Nov. 2, 2015) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.37108 to 1.38740. This increase will be effective on November 16, 2015 (the "Effective Date").

The following are the details of the calculation of the Exchange Ratio:
Record Date of Bonavista Dividend   Opening Exchange Ratio   Bonavista Dividend per common share   Five day Weighted Average Trading Price of Bonavista common shares
 (Prior to the end of the Month)
  Increase in Exchange Ratio (1)   Effective Date of the increase in Exchange Ratio   Exchange Ratio as of the Effective Date
October 30, 2015   1.37108   $0.035   $2.94   0.01632   November 16, 2015   1.38740
(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 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.

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

Bonavista Energy Corporation
Berk Sumen
Manager, Investor Relations
(403) 213-4300

Source: Marketwired (November 2, 2015 - 7:13 PM EST)

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