Argent Energy Trust Files Amended and Restated Preliminary Prospectus for Initial Public Offering

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

CALGARY, July 16, 2012 /CNW/ - Argent Energy Trust ("Argent" or the "Trust") is pleased to announce it has filed an amended and restated preliminary prospectus dated July 13, 2012 with the securities regulatory authorities in each of the provinces of Canada in connection with a proposed initial public offering of its trust units.

The net proceeds of the offering, together with an advance under credit facilities to be established, will be used to indirectly acquire operated interests in certain oil and natural gas assets located in Texas.  The initial assets of the Trust are characterized by long-life reserves, a balanced commodity weighting, and a significant inventory of light oil development locations.

The offering is being made through a syndicate of underwriters co-led by Scotiabank, CIBC, and RBC Capital Markets, and including BMO Capital Markets, TD Securities Inc., Canaccord Genuity Corp., National Bank Financial Inc., Acumen Capital Finance Partners Limited, AltaCorp Capital Inc., Cormark Securities Inc., Desjardins Securities Inc., Dundee Securities Ltd., FirstEnergy Capital Corp. and GMP Securities L.P.

The amended and restated preliminary prospectus, which contains important information relating to Argent and the trust units, may be obtained on the SEDAR website at www.sedar.com under Argent's profile.  The amended and restated preliminary prospectus is still subject to completion or amendment.  There will not be any sale or acceptance of an offer to buy the trust units until a receipt for the final prospectus has been issued.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Argent Energy Trust in any jurisdiction.

ABOUT ARGENT ENERGY TRUST
Argent's objective is to create stable, consistent returns for investors through the acquisition and development of oil and natural gas reserves and production with low-risk exploitation potential, located primarily in the United States, and to pay out a portion of available cash to holders of trust units on a monthly basis.

Argent intends to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restrictions which preclude the Trust from holding any "non-portfolio property" (as defined in the Tax Act).

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Argent, including, without limitation, those listed under "Risk Factors" and "Notice to Investors-Forward-Looking Statements" in Argent's amended and restated preliminary prospectus (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, information concerning the proposed initial public offering, the completion and receipt of necessary approvals, Argent's objectives, an advance under credit facilities to be established and the acquisition of the Trust's initial assets. Argent cautions investors in its securities about important factors that could cause Argent's actual results to differ materially from those projected in any forward-looking information 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 information. No assurance can be given that the expectations set out in Argent's amended and restated preliminary prospectus or herein will prove to be correct and accordingly, prospective investors should not place undue reliance on this forward-looking information. These statements speak only as of the date of this press release and, except as required by law, Argent does not assume any obligation to update or revise them to reflect new events or circumstances.

Brian Prokop
Chief Executive Officer
403-770-4807

Sean Bovingdon
Chief Financial Officer
403-770-4803