EnerVest FTS Limited Partnership 2004

EnerVest FTS Limited Partnership 2004

July 11, 2005 16:30 ET

EnerVest FTS Limited Partnership 2004: News Release

CALGARY, ALBERTA--(CCNMatthews - July 11, 2005) - (Privately Held) EnerVest 2004 General Partner Corp. the general partner for EnerVest FTS Limited Partnership 2004 (the "Partnership"), announces that the EnerVest joint venture participants, a privately held joint venture that is the sole shareholder of the general partner, has entered into an agreement with Avenir Operating Corp. ("Avenir") to sell all of their joint venture interests. Avenir is the operator of Avenir Diversified Income Trust (TSX symbol: AVF.UN) a business income trust with a market capitalization of approximately $275 million in assets. The transaction is scheduled to close on or about September 30, 2005.

Cypress Capital Management Ltd. will remain as the investment manager of the Partnership. The sale of the joint venture interests will have no impact on the investment management agreement between EnerVest 2004 General Partner Corp. and Cypress.

The Partnership's investment objective is to achieve capital appreciation through investment in a portfolio of flow-through shares of companies involved in oil and gas exploration and development in Canada.

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

Contact Information

  • EnerVest FTS Limited Partnership 2004
    David J. Fischer
    Chief Financial Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest FTS Limited Partnership 2004
    J. Ward Mallabone
    VP Law
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest FTS Limited Partnership 2004
    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