EnerVest Energy and Oil Sands Total Return Trust
TSX : EOS.UN

EnerVest Energy and Oil Sands Total Return Trust

November 18, 2008 18:55 ET

EnerVest Energy and Oil Sands Total Return Trust Announces November 2008 Distribution

CALGARY, ALBERTA--(Marketwire - Nov. 18, 2008) -

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

EnerVest Oil Sands Management Inc. is pleased to announce a distribution of $0.0417 per unit to Unitholders of EnerVest Energy and Oil Sands Total Return Trust (the "Fund") (TSX:EOS.UN). A portion of this distribution will consist of return of capital. The record date for this distribution is November 28, 2008 and the payment date will be December 15, 2008.

On October 29, 2008, the Fund announced the suspension of the annual redemption. Any and all Fund Units which have been surrendered for redemption shall be deemed to be outstanding until the suspension is lifted ("Redemption Date") and will receive any declared distributions up until the Redemption Date. Therefore, all Fund units that have been surrendered will receive the November distribution unless the Redemption Date occurs before November 28, 2008.

Unitholders that have submitted a redemption request have the right to withdraw their request. Unitholders wishing to do so should notify their investment advisor to deliver a written notice toThe Canadian Depository for Securities Limited ("CDS") of their intention to withdraw their redemption request. Such notice must be received by CDS prior to the Redemption Date.

The Fund is an actively managed closed-end trust which invests in a diversified portfolio of: (i) companies and income trusts involved directly and indirectly in the Canadian oil sands; and (ii) traditional oil and gas royalty trusts. The Fund's investment objectives are to maximize total return through capital appreciation in the portfolio and to provide Unitholders with a consistent monthly cash distribution.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect EnerVest Oil Sands Management Inc.'s (the "Administrator") 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 Administrator 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 Administrator 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 not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EnerVest Oil Sands Management Inc.
    Jacob Roorda
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Oil Sands Management Inc.
    Jane Depraitere
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest Oil Sands Management Inc.
    Investor Relations
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com