EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

November 16, 2006 09:30 ET

EnerVest Diversified Income Trust Announces November 2006 Distribution and Unitholder Update

CALGARY, ALBERTA--(CCNMatthews - Nov. 16, 2006) -

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 (TSX:EIT.UN) ("EnerVest"), announces that the record date for the next monthly distribution is November 30, 2006. The payment date will be December 15, 2006.

EnerVest's net asset value per unit was $6.70 for November 15, 2006.

EnerVest will distribute $0.07 per unit, which represents a current yield of 14.4% based on the closing price of $5.85 per unit on November 15, 2006. The Manager anticipates that approximately 40% of the distributions declared for the current fiscal year will not be included in taxable income for 2006.

Unitholder Update

In response to numerous inquiries following the October 31, 2006 announcement by the Federal Minister of Finance proposing significant tax changes to publicly traded income trusts, EnerVest wishes to update its unitholders with respect to the following:



- EnerVest's foreign ownership is only 3.0% according to the last
geographic report received from our Transfer Agent, Computershare Trust
Company of Canada;
- EnerVest's current debt level is only 14% of its Total Assets; and
- Current sector weightings are as follows:
- Pipeline & Utilities 23.2%
- REITs 21.9%
- Business Trusts 20.7%
- Oil & Gas 19.8%
- Industrials 14.3%


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 271,504,657 units outstanding, a net asset value of approximately $1.8 billion and a daily average trading volume of 555,683 units for the first ten months of 2006.

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
    or
    EnerVest Diversified Management Inc.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Diversified Management Inc.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    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