EnerVest Energy and Oil Sands Total Return Trust

EnerVest Energy and Oil Sands Total Return Trust

March 09, 2012 16:59 ET

EnerVest Energy and Oil Sands Total Return Trust Announces Allocation of 2011 Distributions

CALGARY, ALBERTA--(Marketwire - March 9, 2012) -


EnerVest Energy and Oil Sands Total Return Trust ("EnerVest" or the "Fund") (TSX:EOS.UN) announced today the allocation of the distributions declared in 2011 to Canadian resident unitholders. EnerVest distributed $0.50 per unit in 2011, 100% of which is Return of Capital. Return of Capital reduces the adjusted cost base of the unitholder's trust unit.

T3 Tax Slips

Information regarding the tax breakdown of the EnerVest distributions has been sent electronically to Investment Dealers, who are responsible for the preparation and delivery of T3 tax slips to their clients. The mailing deadline for delivery of the tax slips is March 31, 2012. We urge investors to contact their Investment Advisor directly to determine their specific preparation and delivery schedule.

Non-Resident Unitholders

Non-resident unitholders are not subject to the same tax breakdown as Canadian resident unitholders. Please consult your tax professional or Investment Advisor to discuss your particular situation.

About The Fund

The Fund is listed on the TSX under the symbol EOS.UN and provides a diversified portfolio of securities of companies, royalty and income trusts, and similar issuers involved directly or indirectly with oil sands development. The Fund also invests in oil and natural gas issuers to assist in providing ongoing monthly cash distributions. The Fund is suited for investors who want an actively managed portfolio targeting this strategy, which has the potential for capital appreciation while delivering a tax-advantaged monthly distribution. The Fund is managed by Rafi G. Tahmazian, Senior Portfolio Manager at Canoe Financial.

About Canoe Financial LP

Canoe Financial is the registered Portfolio Manager and Manager of the Fund. Canoe Financial is an investment management firm focused on building financial wealth for Canadians through investing in Canada. Its 'GO CANADA!' investment thesis reflects Canoe's strategic confidence in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources, and Canada's sound fiscal structure, Canoe believes this country provides long-term growth potential for investors.

Canoe is one of Canada's fastest-growing investment fund companies and currently manages approximately $1.7 billion in assets through its investment products. To learn more about Canoe Financial, visit www.canoefinancial.com.

Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial's current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.

Contact Information