Petrofund Energy Trust Confirms Cash Distribution for May 2006

Market Wire, May, 2006

Petrofund Energy Trust (TSX:PTF.UN) (AMEX: PTF) confirmed today a May cash distribution of C$0.20 per unit. This distribution announcement is consistent with the guidance provided in the press release dated April 4th, 2006.

The applicable dates for the May distribution are listed below:

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Distribution        Record Date  Ex-Distribution Date    Payable Date
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C$0.20 per unit  May 16th, 2006        May 12th, 2006  May 31st, 2006
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Note: These dates apply to Petrofund units traded on both the TSX and
      AMEX.

Registered unitholders will receive their distributions directly from our transfer agent. Those with US addresses are paid in US currency using the exchange rate in effect on the record date. Based on an exchange rate of $1.1068/ US$1.00, the May distribution would be US$0.1807 per unit (before deduction of the 15% withholding tax for US unitholders that are individuals). Non-registered unitholders will receive their distributions through their brokers.

Petrofund's 12-month aggregate trailing distributions (May 2006 inclusive) are C$2.15 per unit, which represents a cash-on-cash yield of 7.80% per year based on the closing price of $27.56 per unit on the Toronto Stock Exchange on May 4th, 2006.

Petrofund Energy Trust is a Calgary based royalty trust that acquires and manages producing oil and gas properties in Western Canada. The Trust pays its Unitholders monthly cash distributions that are derived from the Trust's cash flow from these properties. Petrofund Energy Trust was founded in 1988 and was one of the first oil and gas royalty trusts in Canada.

This news release may contain forward-looking statements relating to future events or future performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of the Trust. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed in the Trust's 2005 annual report, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. The Trust undertakes no obligation to update or revise any forward looking financial statements, except as required by applicable securities laws.

PETROFUND ENERGY TRUST

Jeffery E. Errico

President and Chief Executive Officer

Contacts: Petrofund Energy Trust Investor Relations (403) 218-4736 or Toll Free: 1-866-318-1767 (403) 539-4300 (FAX) Email: info@petrofund.ca Website: www.petrofund.ca Petrofund Energy Trust Chris Dutcher Director, Business Development (403) 218-8625