EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

March 16, 2007 09:30 ET

EnerVest Diversified Income Trust Announces March 2007 Distribution

CALGARY, ALBERTA--(CCNMatthews - March 16, 2007) -

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

EnerVest Diversified Management Inc., the Manager of EnerVest Diversified Income Trust ("EnerVest") (TSX:EIT.UN), announces that the record date for the next monthly distribution is March 30, 2007. The payment date will be April 13, 2007.

EnerVest's net asset value per unit was $7.12 for March 15, 2007.

EnerVest will distribute $0.07 per unit, which represents a current yield of 13.6% based on the closing price of $6.19 per unit on March 15, 2007. The Manager anticipates that approximately 40% of the distributions declared for the current fiscal year will not be included in taxable income for 2007.

EnerVest is an actively managed, closed-end trust which invests in a diversified portfolio of income, royalty and real estate investment trusts, and limited partnerships, all of which trade on the Toronto Stock Exchange. EnerVest's objectives are to maximize monthly distributions relative to risk, reduce investment risk, and maximize net asset value over its life. EnerVest currently has 268,876,965 units outstanding, a net asset value of approximately $1.9 billion and a daily average trading volume of 530,152 units for the first two months of 2007.

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

Contact Information

  • EnerVest Diversified Management Inc.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Diversified Management Inc.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Diversified Management Inc.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Diversified Management Inc.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Diversified Management Inc.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com