Corporate Event: Provident Energy Trust (PVX) - Effective Wednesday, July 14, 2010

Provident Energy Trust (PVX) announced a distribution of Pace Oil and Gas Ltd. (PCE) Shares.

PVX Shareholders will receive .12225 Pace Oil and Gas Ltd. (PCE) Shares for every PVX Common Share.

PCE will not be available for trading in the U.S. The record date is July 9, 2010; the mail date is July 13, 2010.

The New York Stock Exchange (NYSE) has set July 14, 2010 as the ex-distribution date.

NOTE: The spun-off company, Pace Oil and Gas Ltd. (PCE) does not trade in the U.S. A U.S. Dollar cash value

equivalent for the distributed PCE shares will be determined and the PVX futures prices will be reduced by that amount.

The cash value will be based on the price of PCE on the Toronto Stock Exchange on the close before the ex-date,

converted into U.S. Dollars, which was $1.06.

This corporate event will be coordinated with the Options Clearing Corporation.

For the full text of this advisory, please click here.