EnerVest FTS Limited Partnership 2006

May 31, 2006 11:43 ET

EnerVest FTS Limited Partnership 2006 Announces Initial Closing of Flow-Through Offering

CALGARY, ALBERTA--(CCNMatthews - May 31, 2006) - EnerVest FTS Limited Partnership 2006 (the "Partnership") is pleased to announce the first closing of its initial public offering on May 31, 2006. The total number of limited partnership units issued under the offering was 955,319 at $25 per unit for gross proceeds of $23,882,975. The limited partnership units were offered for sale to the public in all of the provinces of Canada. The 2006 Offering is the twelve consecutive year in which EnerVest has closed a Flow-Through Share Limited Partnership.

The proceeds of the offering will be invested in flow-through shares of resource companies involved in oil and gas and mineral exploration, development and/or production in Canada or certain energy production that may incur Canadian renewable and conservation expense. The Partnership's investment objective is to provide limited partners with a tax-assisted investment in a diversified portfolio of equity securities of resource companies with a view to achieving capital appreciation. The Partnership's investment portfolio will be actively managed by Cypress Capital Management Ltd., an experienced investment manager with a successful track record.

The offering was conducted by a syndicate of agents that is led by GMP Securities L.P. and includes Raymond James Ltd., Blackmont Capital Inc., Canaccord Adams Limited, Richardson Partners Financial Limited and Acumen Capital Finance Partners Limited.

A copy of the Final Prospectus can be found at www.sedar.com.



The Toronto Stock Exchange has neither approved or disapproved the information contained herein.

Contact Information

  • EnerVest 2006 General Partner Corp.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest 2006 General Partner Corp.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest 2006 General Partner Corp.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest 2006 General Partner Corp.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    or
    EnerVest 2006 General Partner Corp.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta T2P 3V4
    Email: info@enervest.com
    Website: www.enervest.com
    or
    GMP Securities L.P.
    Matt Sobolewski
    Investment Banking
    (403) 543-3030
    or
    GMP Securities L.P.
    Jo-Anne Stansfield
    Equity Capital Markets
    (416) 367-8600