EnerVest FTS Limited Partnership 2006 II

May 01, 2007 09:30 ET

EnerVest FTS Limited Partnership 2006 II Announces Initial Members of Independent Review Committee

CALGARY, ALBERTA--(CCNMatthews - May 1, 2007) -

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

EnerVest 2006 II General Partner Corp., the General Partner of EnerVest FTS Limited Partnership 2006 II ("EnerVest"), announces the appointment of the initial members of the independent review committee ("IRC") of EnerVest. National Instrument 81-107 ("NI 81-107") requires EnerVest to establish an IRC to oversee how EnerVest and its General Partner will manage conflicts of interests.

The initial members of EnerVest's IRC are:

Allen B. Clarke - Mr. Clarke acts as a consultant on design, implementation and marketing of financial products and reviews on matters of corporate governance. He was the founder, CEO and Chief Investment Officer of Opus 2 Financial, an investment portfolio company, from 1999 to 2004. Prior to this, Mr. Clarke was a Senior Vice-President at AGF Funds.

William J. Byrne - Mr. Byrne was the former Deputy Minister of Alberta for Advanced Education. Other portfolios held by Mr. Byrne in his long career with the Government of Alberta included Alberta Community Development, Cultural Facilities and Historic Resources. He holds a Masters and Doctor of Philosophy from Yale University.

Catherine A. Brown - Ms. Brown is currently a professor and associate Dean of Research at the Faculty of Law, University of Calgary. Her areas of teaching and research are taxation, international trade and business planning. Ms. Brown's numerous administrative and professional appointments and honors conferred include an appointment to the Board of Governors Canadian Tax Foundation, to the International Tax Advisory Committee (Canada Revenue Agency) and a Fulbright Fellowship.

The General Partner believes that these individuals are independent within the meaning of NI 81-107 and have the desired skills and experience to carry out the requirements of EnerVest's IRC. EnerVest has always been committed to high standards of corporate governance and believes that the IRC will play an important role in continuing to meet these high standards.

Under NI 81-107 the initial members of the IRC must be appointed by May 1, 2007 and full compliance of NI 81-107 must be achieved by November 1, 2007.

EnerVest's investment objective is to achieve capital appreciation through investment in a portfolio of 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. EnerVest's investment portfolio is actively managed by Cypress Capital Management Ltd. to achieve this objective.

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