Parallel Energy Trust Confirms Cash Distribution to in Respect of the Period from and Including December 1, 2014 to December 31, 2014 Payable on January 23, 2015

Parallel Energy Trust (Parallel or the Trust) is a Canada-based distribution-paying energy income trust. The Trust's assets and operations are located in Texas and Oklahoma in the United States and its portfolio consists of mature, liquids-rich natural gas assets. The Trust's business strategy is focused on acquiring and developing long-life, conventional oil and natural gas assets. The Trust manages five operating areas located in Texas and Oklahoma. The Trust operates 100% of its Texas assets, which are located in the Carson, Hutchinson, Moore, Potter, Gray and Roberts counties and it holds a 30% non-operated interest in a Mississippian Lime play located in Garfield County, Oklahoma. The Trust's Carson, Sneed and Cargray operating areas are located in the Greater Panhandle/Hugoton Gas Field, a conventional gas field in North America.