EnerVest Energy and Oil Sands Total Return Trust
TSX : EOS.UN

EnerVest Energy and Oil Sands Total Return Trust

October 24, 2007 19:30 ET

EnerVest Energy and Oil Sands Total Return Trust Announces Filing of Final Prospectus for Warrant Offering

CALGARY, ALBERTA--(Marketwire - Oct. 24, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

EnerVest Energy and Oil Sands Total Return Trust (TSX:EOS.UN) (the "Trust" or "EnerVest") is pleased to announce that it has filed a final prospectus pursuant to which the Trust will, subject to obtaining all necessary regulatory and exchange approvals, issue to the holders of its outstanding trust units (the "Units"), at the close of business (Calgary time) on November 1, 2007 (the "Record Date"), 1,631,340 transferable warrants (the "Warrants") to subscribe for and purchase 1,631,340 Units of the Trust. Each registered holder of Units (a "Unitholder") at the close of business on the Record Date will receive one-half of one whole Warrant for each Unit held. One Warrant entitles the holder thereof to purchase one Unit at a price of $8.70. The Warrants are exercisable commencing on January 1, 2008 and any Warrants not exercised by 3:00 PM (Calgary time) on October 2, 2008 will be void and of no value.

The Trust has received conditional listing approval from the Toronto Stock Exchange to list the Warrants issued pursuant to the final prospectus on the Toronto Stock Exchange, as well as the Units issuable on exercise of the Warrants. Subject to the satisfaction of listing requirements, including confirmation regarding the distribution of the Warrants to a minimum number of public holders, it is expected that the Warrants will begin trading on the Toronto Stock Exchange on or about November 2, 2007 under the symbol EOS.WT.

EnerVest is an actively managed closed-end trust which invests in a diversified portfolio of: (i) companies and income trusts involved directly and indirectly in the Canadian oil sands; and (ii) traditional oil and gas royalty trusts. EnerVest's investment objectives are to maximize total return through capital appreciation in the portfolio and to provide Unitholders with a consistent monthly cash distribution.

A copy of the prospectus can be found at www.sedar.com.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EnerVest Oil Sands Management Inc.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Oil Sands Management Inc.
    Sean J.H. Morgan
    Chief Financial Officer
    403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Oil Sands Management Inc.
    Kristie Allen
    Investor Relations
    403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Oil Sands Management Inc.
    Linda Koroluk
    Investor Relations
    403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Oil Sands Management Inc.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com