Eagle Energy Trust Postpones Special Meeting of Unitholders to December 15, 2014

CALGARY, ALBERTA--(Marketwired - Nov. 20, 2014) - (TSX:EGL.UN) Eagle Energy Trust ("Eagle" or the "Trust") announces today that the special meeting of unitholders originally scheduled for November 24, 2014 to vote on a special resolution to amend the investment restrictions in Eagle's Trust Indenture to permit the acquisition of Canadian energy assets has been postponed to December 15, 2014 at 3:00 p.m. (MST) in the Viking Room of the Calgary Petroleum Club at 319 Fifth Avenue S.W., Calgary, Alberta.

The special meeting has been postponed to provide a greater number of unitholders the opportunity to consider and vote on this important resolution that will enable Eagle to expand its business strategy to acquire Canadian oil and gas assets.

Eagle is pleased to announce that Institutional Shareholder Services (ISS), a leading independent proxy advisory firm, has recommended that unitholders vote FOR the special resolution.

Eagle's board of directors and management team, which have unanimously recommended that unitholders vote FOR the resolution, believe the benefits of amending the Trust Indenture to permit the acquisition of Canadian assets include:

• An opportunity to use Eagle's strong balance sheet to acquire attractively priced premium Canadian oil and natural gas assets;

• Fully utilizing the board and management's extensive experience in acquiring and developing Canadian oil & gas assets;

• Taking advantage of narrowing pricing differentials (the discounts applied to Canadian oil and natural gas prices), which management expects will continue to narrow as the expansion of liquefied natural gas, rail and pipeline infrastructure enhances access to non-United States markets for Canadian oil and natural gas; and

• Diversifying commodity price, foreign exchange and interest rate risk, which assists in maintaining the stability and sustainability of Eagle's distributions.

"We sold our Permian Property last summer at an attractive price, particularly in light of current commodity prices and currency exchange rates. We are keen to redeploy that capital into the best assets possible. We believe that attractive opportunities for reinvestment exist in both Canada and the US. We recommend that you vote your units to authorize this wider strategy, which will give Eagle an expanded selection of opportunities to invest its capital", said Richard W. Clark, President, Chief Executive Officer and a director of Eagle.