EnerVest Energy and Oil Sands Total Return Trust

EnerVest Energy and Oil Sands Total Return Trust

March 30, 2006 19:55 ET

EnerVest Energy and Oil Sands Total Return Trust Files Final Prospectus

CALGARY, ALBERTA--(CCNMatthews - March 30, 2006) -

Not for distribution to U.S. newswire services or for dissemination in the United States

EnerVest Energy and Oil Sands Total Return Trust (TSX:EOS.UN) (the "Trust"), is pleased to announce that the Trust has entered into an agency agreement and filed a final prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with the proposed initial public offering of a minimum of 2,500,000 and a maximum of 12,500,000 trust units of the Trust (the "Offering") at a price of $10.00 per trust unit. The agents also have an option exercisable, in whole or in part from time to time, for a period of 30 days from closing, to purchase an aggregate of up to 15% of the aggregate number of Trust Units sold at the closing of the Offering to cover over-allotments, if any.

The net proceeds from the Offering will be used to invest in an actively managed portfolio of: (i) companies, royalty and income trusts and similar issuers involved directly or indirectly in the development of the oil sands and whose business is directly or indirectly related to the acquisition, mining, development, extraction, processing, production, marketing, transportation, supply and sale of products and resources from the oil sands, as well as suppliers to oil sands projects who derive a portion of their revenue and net earnings from sales of products or provision of services to issuers participating in oil sands projects and in Canada; and (ii) traditional oil and gas royalty trusts and similar issuers.

Cypress Capital Management Ltd. will be the Investment Manager of the Trust.
The agents for the Offering are led by Raymond James Ltd. and include, CIBC World Markets Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., Blackmont Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Desjardins Securities Inc., Dundee Securities Corporation, Research Capital Corporation, Richardson Partners Financial Limited and Wellington West Capital Inc.

The Trust has received conditional approval for the listing of its Trust Units on the Toronto Stock Exchange under the symbol "EOS.UN", subject to fulfilling all of the requirements of the Toronto Stock Exchange.

A copy of the final prospectus will be available on SEDAR (www.sedar.com) on Thursday, March 30, 2006.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information

  • EnerVest Oil Sands Management Inc.
    Kevin W. Wolfe
    President and CEO
    (403) 571-5550
    EnerVest Oil Sands Management Inc.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550
    (403) 571-5554 (FAX)
    EnerVest Oil Sands Management Inc.
    Suite 2800, 700 - 9th Avenue S.W.
    Calgary, Alberta T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com