CONVERTIBLE DEBENTURE INDENTURE DATED AS OF THE 26TH DAY OF MAY, 2010 AMONG PARAMOUNT ENERGY TRUST AND PARAMOUNT ENERGY OPERATING CORP. AND COMPUTERSHARE TRUST COMPANY OF CANADA PROVIDING FOR THE ISSUE OF DEBENTURESParamount Energy Trust • August 18th, 2010 • Perpetual Energy Inc. • Crude petroleum & natural gas • Alberta
This Certificate relates to the offer and sale of 7.00% Convertible Unsecured Junior Subordinated Debentures (the "Debentures") of Paramount Energy Trust (the "Trust") made in reliance on Rule 904 of Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The undersigned certifies that:
