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Shiningbank news on hedging

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Shiningbank Energy Provides Update on Hedging Program CALGARY, ALBERTA, Jul 18, 2006 (CCNMatthews via COMTEX News Network) -- Shiningbank Energy Income Fund (TSX:SHN.UN) ("Shiningbank") today announced additions to its existing hedging program resulting from the proposed acquisition of Find Energy Ltd. ("Find"). In light of the current weakness in natural gas markets, the addition of the new hedge will help to limit exposure to potential short term downturns. The acquisition of Find is expected to add approximately 22 million cubic feet of natural gas production per day to Shiningbank's gas production portfolio. In keeping with Shiningbank's hedging policy, it has entered into a fixed price swap for 10,000 GJ per day at a price of $6.65 per GJ (approximately $7.01 per mcf) for the period from September 1 through December 31, 2006. This hedge represents approximately half of Find's current natural gas production. Listed below is a summary of all of Shiningbank's hedge positions as ofJuly 18, 2006:Crude Oil Swap Collar CollarHedge Type Term Volume Currency Price Floor Cap---------- ---- ------ -------- ----- ------ ------Collar July 1, 2006- Dec. 31, 2006 500 Bbl/d $ USD/Bbl $ 55.00 $ 89.10 92,000 TotalNatural Gas Swap Collar CollarHedge Type Term Volume Currency Price Floor Cap---------- ---- ------ -------- ----- ------ ------Collar April 1, 2006- Oct. 31, 2006 5,000 GJ/d $ Cdn/GJ $ 7.50 $ 12.00 1,070,000GJCollar May 1, 2006- Oct. 31, 2006 10,000 GJ/d $ Cdn/GJ $ 5.50 $ 9.75 1,840,000 GJCollar July 1, 2006- Mar. 31, 2007 5,000 GJ/d $ Cdn/GJ $ 6.00 $ 10.05 1,370,000 GJCollar July 1, 2006- Mar. 31, 2007 5,000 GJ/d $ Cdn/GJ $ 6.25 $ 10.50 1,370,000 GJSwap July 1, 2006- Oct. 31, 2006 5,000 GJ/d $ Cdn/GJ $ 6.47 615,000 GJSwap Sept. 1, 2006- Dec. 31, 2006 10,000 GJ/d $ Cdn/GJ $ 6.65 1,220,000 GJ A summary of Shiningbank's hedge positions is maintained on our website under Investor Information - Hedging Summary. Shiningbank Energy Income Fund is a natural gas focused energy trust founded in 1996. The Fund purchases, develops and operates producing properties for the direct benefit of its unitholders. Shiningbank has one of the highest weightings of natural gas production in the energy trust sector at 77%. Shiningbank is listed on the Toronto Stock Exchange under the symbol SHN.UN. SOURCE: Shiningbank Energy Income Fund Shiningbank Energy Income FundDavid M. FitzpatrickPresident and C.E.O.[phone] or Toll Free 1-866-268-7477Shiningbank Energy Income FundBruce K. GibsonVice President, Finance and C.F.O.[phone] or Toll Free 1-866-268-7477Shiningbank Energy Income FundDebbie CarverInvestor Relations Coordinator(403) 268-7477 or Toll Free 1-866-268-7477(403) 268-7499 (FAX)Email: [e-mail]: www.shiningbank.com