EnerVest FTS Limited Partnership 2006 II

November 01, 2006 11:23 ET

Enervest FTS Limited Partnership 2006 II Announces Closing of Flow-Through Offering

CALGARY, ALBERTA--(CCNMatthews - Nov. 1, 2006) -

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States of America.

EnerVest FTS Limited Partnership 2006 II (the "Partnership") is pleased to announce its first and final closing of its initial public offering on November 1, 2006. The total number of limited partnership units issued under the offering was 400,000 at $25 per unit, resulting in gross proceeds raised for the Partnership of $10,000,000. The Partnership units were offered for sale to the public in all of the provinces of Canada. The 2006 Offering is the twelfth 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.

The offering was conducted by GMP Securities L.P.

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

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EnerVest 2006 II General Partner Corp.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2006 II General Partner Corp.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2006 II General Partner Corp.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2006 II General Partner Corp.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest 2006 II General Partner Corp.
    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
    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