Qwest Investment Management Corp.

Qwest Investment Management Corp.

October 10, 2007 15:26 ET

Qwest Energy 2007-II Flow-Through Limited Partnership Announces First Closing Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Qwest Investment Management Corp. is pleased to announce that Qwest Energy 2007-II Flow-Through Limited Partnership (the "Partnership") completed its first closing of its public offering of Partnership Units on October 10, 2007. The Partnership issued 346,283 Units for gross proceeds of $8,657,075. The book for the Partnership will be reopened tomorrow and a second and final closing will occur at the end of October, 2007.

Objectives of the Partnership

The Partnership has been organized to provide investors with a tax-assisted investment in a diversified portfolio of flow-through shares of resource issuers whose shares are publicly traded and, to a lesser extent, flow-through shares of private resource issuers, with a view to achieving capital appreciation for investors. The principal business of the resource issuers will be: (i) oil and gas exploration, development and production; (ii) mineral exploration, development and production; or (iii) certain energy production that may incur certain start-up phase costs of renewable energy and energy efficient projects.

Agents for the Partnership

Dundee Securities Corporation, CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, Raymond James Ltd., Wellington West Capital Inc., GMP Securities L.P., Berkshire Securities Inc., HSBC Securities (Canada) Inc. and Bieber Securities Inc.

Partnership's Offering Jurisdictions

A preliminary prospectus relating to the Partnership has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. This news release shall not constitute an offer to sell or a solicitation to purchase, nor shall there be any sale or any acceptance of an offer to purchase units of the Partnership in any province or territory of Canada prior to the receipt for the final prospectus or other authorization is obtained from a securities commission or similar authority.

About Qwest

Qwest Investment Management Corp. is an investment management firm which specializes in identifying, structuring and managing investment products. Qwest Investment Management is currently focused on investments in the natural resource sector.

Contact Information