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In the Midland area, the Trust had a marketing agreement in place from October 2012 through February 2013 which limited the discount from the WTI price to $US 2.36 per barrel (excluding transportation costs). Additionally, from March 2013 through August 2013, the Trust has a marketing agreement in place which limits the discount from the WTI price to $US 2.06 per barrel (excluding transportation costs). Management monitors pricing regularly and endeavors to maximize realized sales prices while minimizing counterparty risk.

Income (loss) on a quarterly basis often does not move directionally or by the same amount as movements in funds flow from operations. This is primarily due to items of a non-cash nature that factor into the calculation of income (loss), and those that are required to be fair valued at each quarter end. By way of example, first quarter 2013 funds flow from operations increased 30% from the first quarter 2012 while first quarter 2013 income increased by a much larger percentage. This is primarily due to a lower unit price at the end of the first quarter of 2013 that caused a unit based compensation recovery to be recorded upon performing a fair market valuation of future unit based payments.

2013 Annual and Special Meeting

The Trust's 2013 Annual and Special Meeting of the unitholders will be held on June 5, 2013 at 3:00 p.m. (Mountain Daylight Time) at the Calgary Petroleum Club, 319, Fifth Avenue S.W. Calgary, Alberta. The record date for the meeting is April 26, 2013. The Trust is pleased to take advantage of the new rules allowing companies to deliver meeting materials over the internet to its Unitholders. You can obtain an electronic version of the Management Information Circular on the following websites: www.envisionreports.com/EABQ, www.eagleenergytrust.com and under the Trust's issuer's profile on www.sedar.com.

Non-IFRS Financial Measures

Statements throughout this press release make reference to the terms "field netback" and "funds flow from operations" which are non-International Financial Reporting Standards ("IFRS") financial measures that do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. Management believes that "field netback" and "funds flow from operations" provide useful information to investors and management since such measures reflect the quality of production, the level of profitability, the ability to drive growth through the funding of future capital expenditures and the sustainability of distributions to unitholders. Funds flow from operations is calculated before changes in non-cash working capital. Field netback is calculated by subtracting royalties and operating costs from revenues. See the "Non-IFRS financial measures" section of the MD&A for a reconciliation of funds flow from operations and field netback to earnings (loss) for the period, the most directly comparable measure in the Trust's condensed consolidated interim financial statements. Other financial data has been prepared in accordance with IFRS.

Note Regarding Forward-Looking Statements

Certain of the statements made and information contained in this press release are forward-looking statements and forward looking information (collectively referred to as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historic fact are forward-looking statements.