EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

November 19, 2008 09:30 ET

EnerVest Diversified Income Trust Announces the November 2008 Distribution and Termination of the Exchange Offer

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2008) -

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

EnerVest Diversified Income Trust (TSX:EIT.UN) ("EnerVest") is pleased to announce the November 2008 distribution.

November Distribution

EnerVest announces that the record date for the next monthly distribution is November 28, 2008. The payment date will be December 15, 2008.

EnerVest will distribute $0.07 per unit. The Manager anticipates that approximately 45% of the distributions declared for the current fiscal year will not be included in taxable income for 2008.

EnerVest's closing unit price on November 18, 2008 was $2.91 for an effective annual yield of 29%.

Exchange Offer and Warrant Offering

Following the expiry of rescission rights under the recently announced Exchange Offer, the amount of Issuer Securities available for take up was below the minimum offering of $25,000,000. Therefore the Exchange Offer and subsequent Warrant Offer is terminated. As a result, EnerVest will not be issuing any units in exchange for Issuer Securities and will not be issuing warrants to Existing Unitholders.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect EnerVest Diversified Management Inc.'s (the "Manager") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • EnerVest Diversified Management Inc.
    Jacob Roorda
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Diversified Management Inc.
    Jane Depraitere
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Diversified Management Inc.
    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
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    Email: info@enervest.com
    Website: www.enervest.com